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Asset Appraisal

Asset appraisal is the core business of Asia-Pac Financial Investment Company Limited (“the Group”), which includes valuation services across a wide spectrum of asset classes, including real estate and other fixed assets, mineral properties, business and intangible assets, financial assets including financial instruments and derivatives. The Group provides independent valuation reports, both to public and private businesses to meet market, regulatory and fiduciary requirements for various purposes including IPOs, M&As, litigation, liquidation, financial reporting compliance and fairness opinions. Members of the Group’s professional team provide expertise in different disciplines of asset appraisal and act as independent professionals in the provision of these services.

Over the past years, the Group has been engaged in over 650 asset appraisal engagements. Although most of these engagements were for listed companies in Hong Kong, the locations of the assets were widely spread, ranging from the PRC, Hong Kong, Taiwan, Macau, Mongolia, Singapore, Indonesia, the Philippines, Brunei and spanning across to countries such as Russia and Brazil.

Set out below are the different categories of appraisal services that the Group provides and description of the assets for valuation in each category:

Real estate and fixed assets appraisal

  • Real estate
  • Plant and machinery
  • Work-in-progress
  • Inventory

Mineral properties appraisal

  • Exploration areas
  • Pre-development projects
  • Development projects
  • Operating mines

Business and intangible assets valuation

  • Business enterprise or interest
  • Intangible assets, which include:
    • Marketing-related: trademarks, trade names, service marks, collective marks,  certification marks, internet domain names, trade dress, newspaper mastheads and  non-competition agreements;
    • Customer-related: customer lists, order or production backlog, customer contracts  and the related customer relationships which meet contractual-legal criterion and non-contractual customer relationships which meet the separability criterion 
    • Arts-related: plays, operas, ballets, books, magazines, newspapers, other literary works, video and audiovisual materials, musical works, pictures and photographs which meet contractual or legal rights criterion
    • Contract-based: licensing, royalty and standstill agreements, advertising, construction, management, service or supply contracts, leased agreements,  franchise agreements, operating and broadcasting rights, use rights such as drilling,  water, air, mineral, timber-cutting, servicing contracts such as mortgage service contracts and employment contracts 
    • Technology-based: patented and unpatented technology, computer software and  mask works, databases and trade secrets such as secret formulas, processes or recipes

Financial Instruments and derivatives valuation

  • Equity-related: share options, employee shares options,  pre-IPO shares options,  restricted shares, warrants, convertible bonds, equity-linked notes, accumulators, convertible preference shares and other exotic options;
  • Interest rate-related: callable and/or putable corporate bonds, interest rate options,  interest rate swaps and other structured interest rate-related products;
  • Currency-related: non-deliverable forwards, currency forwards, currency swaps, currency  options; and 
  • Credit risk-related: financial guarantee valuation
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