SINGAPORE – The Intellectual Property Office of Singapore (IPOS) and Singapore Exchange (SGX) have partnered to launch a new programme that aims to raise awareness and encourage companies to go for intangible asset (IA) evaluations, according to a joint statement on tuesday (Feb 4).
The Intangible Disclosure Evaluation and Audit Scheme (IDEAS) programme looks to promote IA disclosure and is exclusive to SGX-listed companies and companies preparing for a listing.
It provides companies with government support to undergo an IA evaluation and audit process to enable them to identify important IA information which are key drivers to their businesses.
IDEAS will run as a pilot programme until the end of 2020, with IPOS and SGX nominating a limited number of companies to participate. Feedback gathered during this phase will be instrumental in shaping future support for IA disclosures, the joint statement added.
Companies confirmed to have joined IDEAS include Revez Corporation and Hyphens Pharma International, which are both Catalist-listed. Water treatment company Memiontec Holdings, which is preparing for its listing, will also join the programme.
Bernard Ong, IPOS group director of policy and engagement, said the programme will “enable investors to make sharper investment decisions while helping IA-rich companies unleash their real enterprise value”.
Chew Sutat, SGX head of global sales and origination, added: “In helping to develop greater awareness and understanding of IA, we can bring more value to our listed companies and the wider business community.”
As at 11.25am, Revez shares were trading flat at $0.27, while shares of Hyphens Pharma were trading flat at $0.225.