SGX RegCo enters deal with SISV to boost standards for property valuations

SGX building on Shenton Way in SingaporeSGX building on Shenton Way in Singapore

Singapore Exchange Regulation, or SGX RegCo, has entered a memorandum of understanding with Singapore Institute of Surveyors and Valuers (SISV) to improve standards for valuations of real estate and land, the parties said in a statement Tuesday.

Under the deal, SGX RegCo may seek SISV’s advice when it has concerns on property valuation reports or disclosures from listed companies or listing applicants, the statement said.

In addition, SISV will provide expert advice in reviewing whether property valuation reports are prepared in compliance with the reporting guide it launched in 2018, it said.

SGX RegCo and SISV will also cooperate on setting standards and guidance for property valuation and disclosure in SGX’s listing rules and codes and standards, the statement said.

“SISV is honoured to support SGX RegCo specifically on real estate and land valuation as this would help to lead to further enhance a sustainable level of confidence in the provision of valuation reporting to listed issuers,” Lim Lan Yuan, president for valuation and general
practice at SISV, said in the statement.

“In today’s evolving global business environment where Singapore holds a global position as a destination for real estate investments, we are pleased to do our part towards raising standards and minimizing risks,” Lim said.

Tan Boon Gin, CEO of SGX RegCo, said robust property valuations were a necessity for Singapore’s standing as a hub for REITs and property companies.

“SGX-listed REITs are acquiring more diverse and offshore assets and the standard of valuations should be enhanced so as to mitigate any potential risks,” Tan said in the statement.

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