Success

STORIES

Hear What Multi-Millionaire Investors, Entrepreneurs, and top business leaders Have To Say

Project Succession

Consumer Discretionary, Forensic Accounting

Mun's testimony and expert reports are to be preferred

“The court turns its attention next to the evidence of the Defendants’ expert Mun. He is a chartered accountant as well as a chartered valuer and appraiser who has appeared in Singapore courts as well as at the Singapore International Arbitration Centre as an expert witness.”

“There was nothing new adduced from Mun during his cross-examination that altered what was stated in Mun’s report.”

“…the court is of the view that’s (sic) Mun testimony and expert reports are to be preferred. Mun offered a more objective and balanced analysis of the accounts of the Partnership as at 19 December 2014.”.

[2020] SGHC 159, para 122, 144 and 194.

Justice Lai Siu Chiu | Senior Judge

The High Court of Singapore

Advisory Role

Business Valuation, Financial Instrument Valuation, Intangible Asset Valuation, Portfolio Company Investment Valuation, Share-based Payment Valuation

Extensive industry experience in the field of Business Valuation

Mr. Mun Siong Yoong, Founder and CEO of Vallaris Deal Advisory Pte Ltd, was conferred the Chartered Valuer and Appraisers (CVA) designation in 2017 for his extensive industry experience in the field of Business Valuation (BV).

He is a current member of the Standards and Technical Working Group of the Institute of Valuers and Appraisers, Singapore (IVAS), an institute under the Singapore Accountancy Commission (SAC). The SAC is a statutory body under the Ministry of Finance.

The STWG provides oversight for the development and publication of practice guides on valuation matters. It also provides technical assistance to regulators such as the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation Company (SGX RegCo) on complex valuation issues.

Mr. Evan Law | Chief Executive

Singapore Accountancy Commission

Project Succession (Appeal)

Consumer Discretionary, Forensic Accounting

Mun’s evidence should be preferred

“We agree with the Judge that Mun’s evidence should be preferred. Mun’s evidence was more credible and objective, and the conclusions he reached were well-reasoned and supported by the evidence.”

The appellant accepted on appeal Mun’s valuation as regards items (b) and (d), ie, “Adjusted PPE” and “Stock”.

[2022] SGCA 47, para 64, 66.

Justice Steven Chong Horng Siong | Judge of Appeal

The Court of Appeal of Singapore

Justice Lai Siu Chiu | Senior Judge

The High Court of Singapore

Mr. Evan Law | Chief Executive

Singapore Accountancy Commission

Justice Steven Chong Horng Siong | Judge of Appeal

The Court of Appeal of Singapore

How Siong Yoong & VALLARIS™ Secured SGX Approval

for Li Mingyang’s Greenbuild Technology Valuation.

"SGX approved the valuation report without any amendments, thanks to the professionalism and reliable data-supported valuation methods of Siong Yoong and his team. This was instrumental in successfully completing our deal."

Li Minyang

Executive Director and Chairman

Greenbuild Technology Limited

Project Aural

Consumer Discretionary, Purchase Price Allocation

Outstanding engagement experience despite the cultural diversity

We are one of the largest hearing aid manufacturers in the world. Starkey is based in the United States and had acquired targets in Singapore and Indonesia. We wanted an adviser to guide us through the complexities of this cross-border acquisition. Siong Yoong came recommended by our American accountants.

Siong Yoong hosted the vendors and I at his Singapore office for the kick-off meeting. All of us had a great working experience with him and his team. They anticipated key transaction issues, walked us through their approach and proposed solutions, and obtained everyone’s buy-in before proceeding.

We had an outstanding engagement experience despite the cultural diversity thanks to active project management by Siong Yoong’s team. I feel valued as a client and I look forward to working with him again!

Ms. Kelly Myre | International Controller

Starkey Hearing Technologies

Project Architecture

Industrials, Mergers & Acquisitions

Top shelf mergers and acquisitions adviser!

We have never divested a business. As such, we wanted a professional to guide us with this important transaction. Siong Yoong and his team tailored a business sale program for us. He prioritized the objectives and welfare of both shareholders and staff.

He valued our business to establish our market value and reserve price. Siong Yoong also structured and negotiated the deal on our behalf. We are very pleased to be acquired by real estate giant Rowsley Limited owned by Peter Lim.

I endorse Siong Yoong if you desire a top shelf mergers and acquisitions adviser! I wish him all the best and every success for Vallaris Deal Advisory Pte Ltd, his new company.

Ms. Grace Young Kok Inn | Managing Director

AC Consortium Pte. Ltd.

Ms. Kelly Myre | International Controller

Starkey Hearing Technologies

Ms. Grace Young Kok Inn | Managing Director

AC Consortium Pte. Ltd.

Project Marble

Healthcare, Intangible Asset Valuation

Smooth and successful listing that raised HKD 46.5 million!

We had proposed royalty rates for our franchises in our IPO documentation. These royalties influenced our listing price. As a result, the Hong Kong Stock Exchange wanted us to confirm that they represented market rates.

We hired Siong Yoong and his team for this important assignment. We needed to raise this capital to grow our business.

Siong Yoong evaluated our trade name and trademarks. He then researched and identified comparable franchise agreements on a global basis.

The Hong Kong Stock Exchange accepted Siong Yoong’s fairness opinion. Siong Yoong and the team have been invaluable partners. I am happy to announce that we had a smooth and successful listing that raised HKD 46.5 million!

Dr. Alan Tan Cher Sen | Director

Republic Healthcare Holdings Pte. Ltd.

Project Wine

Financials, Purchase Price Allocation

Long drawn, painful and complex project turned out to a smooth and pleasant experience

We needed a purchase price allocation for our complex management buyout exercise. We are one of the world’s most trusted international life insurance brokers. The deal involved seven buyout targets across three continents. Our Big4 auditor recommended Siong Yoong.

Siong Yoong came prepared to our kick-off meeting with our auditors.
He ensured all stakeholders agreed on all important issues. Everyone was clear of their roles and responsibilities from start to finish.

This complex project could have been long drawn and painful. It turned out to a smooth and pleasant experience thanks to Siong Yoong and his team. We recommend Siong Yoong to work with you on your current and future projects!

Mr. Leslie Chau | Executive Director, Head of Finance

Charles Monat Associates Pte. Ltd.

Dr. Alan Tan Cher Sen | Director

Republic Healthcare Holdings Pte. Ltd.

Mr. Leslie Chau | Executive Director, Head of Finance

Charles Monat Associates Pte. Ltd.

Project Beauty

Healthcare, Asset Impairment Testing, Purchase Price Allocation

Very satisfied with the customer experience rendered by Siong Yoong and his team

Our auditors asked us to perform independent asset impairment testing on our acquisitions. We hired Siong Yoong due to his reputation for delivering first rate advice at an honest price.

Siong Yoong and his team evaluated our acquisitions’ financial performance with care. His team spoke with us over weekends to help us meet our deadline. His report anticipated auditors’ inquiries so that I have less to worry about.

I am very satisfied with the customer experience rendered by Siong Yoong and his team. Please give Siong Yoong a call if you desire Deal Advisory advice you can depend on!

Mr. Eric Choo | Chief Executive Officer

Singapore O&G Ltd

Project KnowHow

Healthcare, Business Valuation, Purchase Price Allocation

Pleased with the care and attention Siong Yoong has treated my project

Our Board of Directors commissioned an independent valuation to back our investment decision. The target business held proprietary medical treatments that help wheelchair-bound patients walk again. This investment was a bet on a novel treatment procedure for a hungry market.

Siong Yoong is a medical devices engineer, chartered accountant, and certified business valuer. As a result, his skill set gave us superior
deal insights. Siong Yoong helped us verify the target’s business model. He analyzed clinical research and bridged its business indicators to its financial forecast. Our board acquired the target.

I am very pleased with the care and attention Siong Yoong has treated
my project. I look forward to working with Vallaris on future M&A deals!

Ms. Serene Lee | Chief Financial Officer

Verita Healthcare Group Ltd

Mr. Eric Choo | Chief Executive Officer

Singapore O&G Ltd

Ms. Serene Lee | Chief Financial Officer

Verita Healthcare Group Ltd

Project Media

Information Technology, Asset Impairment Testing, Purchase Price Allocation

Helps us take our business to a different level!

We sought a business valuer to value the assets and liabilities of the business we had acquired. Siong Yoong came recommended by our Big4 auditor.

The business we acquired owned a global mobile messaging application. The main challenge to assigning a business value was due to the fact that the software was free to use. The end user paid no fees.

Siong Yoong and his team did rigorous research into the target’s business model. They went to a great extent to describe its monetization model. They even flew into our other country’s office and interviewed our sales and operations teams.

His team’s hard work paid off. Siong Yoong identified a rare intangible asset i.e. acquired user base. Our auditors accepted his recommendation.

We are very pleased that Siong Yoong and his team helped us pass our Audit. It is the type of customer service that helps us take our business to a different level! We have since worked with Siong Yoong and his team on subsequent engagements and look forward to collaborating in future!

Ms. Lusyana Ang | Finance & Accounting Lead

Creative Media Works Pte. Ltd. (an Emtek company)

Project Paper

Consumer Discretionary, Financial Due Diligence

Delivered high quality work to a tight timeline and was agile in execution

We desired to understand a German acquisition target’s business model. We hired Siong Yoong and his team to conduct financial due diligence. The aim was to investigate the business’ financial performance as well as any red flags.

Siong Yoong designed a scope of work that reflected our deal objectives and concerns. He and his team overcame many field challenges through planning, adaptability, and tenacity. For example, they gained access to information only after arrival in Germany. Siong Yoong had also embedded a German-speaking colleague on the team. This helped them speed up fieldwork. I’m pleased the team was able to present the draft report in the same week they were in Germany. As a result of all the hard work, we were able to engage the vendor in honest and transparent deal-making.

Siong Yoong and his team delivered high quality work to a tight timeline and was agile in execution. I wish him all the best and hope to work with him again in future!

Mr. Christian Bachheimer | Director

PT Djarum

Ms. Lusyana Ang | Finance & Accounting Lead

Creative Media Works Pte. Ltd. (an Emtek company)

Mr. Christian Bachheimer | Director

PT Djarum

Project Oishi

Consumer Discretionary, Business Valuation

Great customer service and outstanding work quality

Our Board of Directors requested an independent business valuation for compliance reporting. The regulator wished to confirm that we paid market value for our acquisition and gave us three weeks to respond. As such, we sought an expert adviser that worked fast to clear the regulator’s query.

Siong Yoong took pains to test our deal rationale. He challenged the robustness of the business model and financial forecast. He also worked hard to ensure that we were well prepared to ace the agency’s interview.

Siong Yoong and his team delivered a report that satisfied our regulator. We also met our deadlines thanks to the team’s great drive and accountability. I experienced great customer service and outstanding work quality throughout this project. I would recommend Siong Yoong for future projects with high confidence!

Mr. Miyake Daisuke | Director

F Innovators Singapore Pte. Ltd.

Project Experience

Consumer Discretionary, Bid Advisory

VALLARIS is up there with the best!

This was our first-time bidding for a government project finance tender. A win would raise our brand and company profile.

The VALLARIS team designed a bid proposal layout that differentiated us. Siong Yoong’s bid advisory strategy communicated what Singapore’s government wanted in a partner.

VALLARIS supported our bid proposal with a well-thought through financial model. The model communicated our credibility, reliability and pragmatism. Siong Yoong also coached us on handling tender clarifications.

I’m pleased to report that we have qualified for discussions based on our bid proposal. We aim to win the tender. We work with many consultants, and I can say that VALLARIS is up there with the best! Across the board, the entire VALLARIS team has been a pleasure to work with. Best of all, they deliver on time and with excellent results. I highly recommend VALLARIS.