Derivatives & ESOS Valuation

We assist our clients by performing fair valuation of derivatives which can be complex financial instruments that consist of both a liability and an equity component that could have a large impact on financial results and affect shareholder returns. Our service also includes valuation of call/put options, Forwards, Interest rate and Currency Swaps, preference shares, employee share options scheme (ESOS), Employee Share Option Plan (ESOP) (IFRS 102), Derivative Financial Instruments (IAS 39), warrants, convertible bonds and hybrid securities.

Financial Instruments Valuation (IAS 39 or FRS 109)

We are fully updated and proficient in the latest accounting standards, including the newly introduced FRS 109 and we apply the latest valuation models such as “Black-Scholes-Merton”, “Binomial-Option Pricing” and “Monte Carlo Simulation Method”, to compute the fair value of various financial instruments.

Employee Share Options Plan ("ESOP/ESOS") (IFRS 102 or FRS 102)

Singapore Financial Reporting Standards (“FRS 102”) or (IFRS 2 Share Based Payments) require that costs relating to share based payments be accounted for in their financial statements. We can help your business to estimate share based expenses by using option pricing valuation models like Binomial or Black Scholes.

These financial instruments include:

  • Call and put options
  • Convertible bonds and preference shares
  • Forward and futures contracts
  • Employee share options scheme (ESOS)
  • Plan (ESOP) share based performance plans
  • Warrants (listed and non-listed)
  • Adjustment of exercise price of warrants/ESOS/ESOP
  • Financial guarantees
  • Equity-linked investments
  • Swap contracts and Asset backed securities

Our achievements include:-

Devised ESOS/ESOP for a technology start-up gearing for IPO.

Successful valuation for a large SGX listed coal mining company.

Successfully value securities for a listed client under the Medium Term Notes Programme.

Value a call/put option agreement and convertible loan agreement, including guarantees.

We have a team of highly qualified in-house experts:

  • Chartered Valuer & Appraiser, Institute of Valuers and Appraisers, Singapore;
  • International Certified Valuation Specialist, IACVA;
  • Certified Valuation Analyst, National Association of Certified Valuators and Analysts;
  • Chartered Business Valuer, Canadian Institute of Chartered Business Valuators;
  • Completed the Certified Patent Valuation Analyst course.



1 Scotts Road, #24-10, Shaw Centre
Singapore 228208


(65) 65898975

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