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!