IPOS and SGX to launch evaluation programme for intangible assets

It will be offered exclusively to SGX-listed companies or firms preparing for listing.

The Intellectual Property Office of Singapore (IPOS) and Singapore Exchange (SGX) have partnered to launch a programme providing companies support in undergoing intangible assets (IA) evaluation and audit process, according to a press release.

The Intangible Disclosure Evaluation and Audit Scheme (IDEAS) programme, offered exclusively to SGX-listed companies and companies preparing for a listing, aims to raise awareness and encourage companies to undergo intangible assets (IA) evaluations.

This will involve assisting companies in identifying important IA information that are key drivers to their businesses, and make recommendations on disclosing this information.

IDEAS will run as a pilot programme until the end of 2020. During this period, companies will be nominated by IPOS and SGX to participate in the programme.

SGX-listed companies, IT firm REVEZ Corporation and Hyphens Pharma International, as well as water solutions firm Memiontec, currently preparing for its listing, are some of the companies already confirmed to join the IDEAS programme.

According to a study by Ocean Tomo, IA comprised more than 80% of the market value within the S&P 500. However, a report from The GIFT 2019 found that much of IA values remain undisclosed.