SINGAPORE (Oct 14): More than two years after minority unitholders of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) kicked up a ruckus over the valuation of three acquisition properties that they believed were overvalued based on master lease rents, Singapore is embracing global valuation standards.
The Lion City hosted the annual general meeting of the International Valuation Standards Council from Oct 7 to 9. On Oct 10 and 11, IVSC and the Institute of Valuers and Appraisers of Singapore (IVAS) held their annual international business valuation conference at Marina Bay Sands.
IVSC is a not-for-profit organisation that acts as the global standard setter for the valuation profession. Deloitte, EY, KPMG and the CFA Institute are among its many sponsors. Its aim is to develop high-quality international valuation standards that ensure consistency, transparency and confidence in valuations globally, and encourage the adoption of IVS. On Aug 30, Savills became a member of IVSC.
