Valuation & Advisory. Asia Pacific

Transcription

1 Valuation & Advisory Asia Pacific

2 Savills is one of the largest Real Estate Advisors in the Asia Pacific, with over 23,200 staff across 58 offices. 01 Savills Valuation & Advisory Asia Pacific

3 our history Savills is a global real estate services provider listed on the London Stock Exchange, with a network of over 600 offices throughout Asia Pacific, The Americas, United Kingdom, Continental Europe, Middle East and Africa. In 1855, Alfred Savill commenced business as Savill & Sons at 27 Rood Lane, London, EC3. During the early and mid 1900 s, the firm continued to expand throughout the UK and Europe. After a full listing on the London Stock Exchange in 1988, the firm became known as Savills Plc. In order to consolidate its growing presence in Asia during the 1990 s, Savills joined forces with First Pacific Co., a company which it would subsequently acquire in Today, Savills Asia Pacific comprises 58 offices and employs over 23,200 staff With 14 offices in China alone, together with an unrivalled presence throughout the ASEAN member countries, Savills regional coverage is second to none. Headquartered in Hong Kong, Savills provides a full suite of specialist advisory, management and transactional services to a variety of Corporate, Institutional, Government and Private Clients. Asia Pacific Savills Valuation & Advisory 02

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5 our Asia Pacific coverage As globalisation continues to reshape the marketplace, our clients are becoming increasingly reliant upon our regional connectivity to produce accurate and timely cross-border advice. With over 200 licensed valuers across 58 offices, Savills Asia Pacific platform remains unrivalled by its competitors. Our global reach extends to an additional 540 offices throughout Europe, Middle East, Africa and the Americas. Australia Adelaide Brisbane Canberra Gold Coast Melbourne Notting Hill Parramatta Perth Sunshine Coast Sydney (2) China Beijing Chengdu Chongqing Dalian Guangzhou Hangzhou Nanjing Qingdao Shanghai Shenyang Shenzhen Tianjin Xiamen Zhuhai Hong Kong Exchange Square (3) Discovery Bay Taikoo Shing Kowloon Tong Kowloon India Bangalore Indonesia Jakarta Japan Tokyo (2) Macao Macao Malaysia Johor Bahru Kuala Lumpur Penang Myanmar Yangon New Zealand Auckland (2) Christchurch Philippines Makati City Bonifacio Global City Singapore Singapore (4) South Korea Seoul Taiwan Taichung Taipei (3) Thailand Bangkok ASIA 44 offices AUSTRALASIA 14 Vietnam Hanoi Ho Chi Minh City offices With 14 offices in China alone, together with full-service offerings in the majority of ASEAN member countries including both Indonesia and Myanmar, Savills regional reach is second to none. Asia Pacific Savills Valuation & Advisory 04

6 our experience We have acted on behalf of most major market participants in the Asia Pacific for a variety of purposes including: Financial Reporting Acquisitions and Disposals Initial Public Offerings Debt and Equity raising Mortgage lending & Loan Book Analysis Taxation Restructuring & Liquidation Litigation Our long established client base includes: REITs Listed & Unlisted Property Funds Real Estate Operating Companies Sovereign Wealth Funds Corporate Property Owners Private Equity Funds Superannuation Funds Banks and Financial Institutions Private Investors Government Agencies 05 Savills Valuation & Advisory Asia Pacific 01

7 Singapore Marina Bay Financial Tower Valuation of a 150,000 sq m mega scale development comprising 3 office towers, 2 residential towers and a retail podium 05 Vietnam Ho Chi Minh City Valuation of Thu Thiem high-end residential project, including a concept study and feasibility analysis Greater China Chengdu Chengdu Beicheng Paradise Walk Valuation of a 185,000 sq m shopping mall located in Jinniu District, Chengdu 03 Japan ProLogis Park Narashino III Valuation of 6 storey specialised logistics centre 06 Greater China Shanghai Oriental Financial Plaza Valuation of premium office and retail complex having a total GFA in excess of 114,000 sq m 07 Greater China Beijing Embassy House Valuation of a 32 storey en bloc Residential complex comprising 174 units Malaysia Setia City Mall Valuation of a 65,000 sq m shopping mall comprising in excess of 250 tenants over 4 levels 08 Australia Barangaroo International Towers Office Precinct Valuation of 3 premium grade towers with a total value in excess of US$3 billion Asia Pacific Savills Valuation & Advisory 06

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9 our people The need for transparent and robust valuation advice to support corporate transactions, and to meet the requirements of regulatory bodies and accounting legislation has increased. Needless to say, justifying the value of property has grown more complex and critical for most businesses. Now more than ever, experience counts. On average, each of our Valuation Experts has at least 10 years post-graduate experience. Our Senior s are regarded as industry leaders with the majority having been in practice for over 20 years. Savills Asia Pacific Valuation Committee comprises senior representatives from each of our regional offices. The Committee meets regularly to maintain consistency in terms of reporting, transaction analysis and Best Practice Standards. So whether it s an initial public offering, capital raising, audit enquiry or litigation, you are assured the skill and reputation of a seasoned professional. Our experts help clients make informed decisions and obtain a competitive advantage by managing risk, recognising value-add opportunities and being kept up to date with our leading edge market research. Asia Pacific Savills Valuation & Advisory 08

10 K$ U$ RM Rp SG$ 09 Savills Valuation & Advisory Asia Pacific

11 our systems Our team of Valuation Experts is supported by leading edge knowledge management and seamless technology. The Savills proprietary valuation cash flow model has been developed over the past 10 years, and is widely regarded by numerous REITs and Banking Institutions as the industry benchmark in terms of sophistication, efficiency and end-user readability. Our in-house systems and report formats have the flexibility to be tailored to the specific requirements of our client. Upon request, our valuations can also be produced in conjunction with third party software such as Dyna, Cougar, Argus, Circle or EstateMaster. Our DCF valuation model offers a flexible format to capture local market nuances, and ensures a consistent approach to valuation is maintained across the Asia Pacific. Asia Pacific Savills Valuation & Advisory 10

12 our standards We are committed to delivering superior performance by utilising industry leading Best Practice Standards. Our Valuation Experts are bound by an in-house Valuation Practice Guideline which ensures consistent, high quality and seamless service levels are maintained at all times throughout the Asia Pacific. Our offices operate in accordance with relevant legislation and the professional standards set by local industry bodies. HKIS - Hong Kong Institute of Surveyors API - Australian Property Institute CIREA - China Institute of Real Estate Appraisers & Valuers SISV - Singapore Institute of Surveyors & Valuers JAREA - Japanese Association of Real Estate Appraisal On a regional level, we maintain strict adherence to the Professional Standards of RICS Red Book. Our valuation reports completed for annual financial reporting purposes are fully compliant with both International Accounting Standards (IAS & IFRS), and Local Accounting Standards such as HKAS (Hong Kong), AASB (Australian) or JP-GAAP (Japan). In order to uphold our best-in-class reputation, each report is subject to a rigorous examination by our Quality Assurance team prior to release. Every valuation report is reviewed and co-signed by a of the Valuation & Advisory Division. BOVEA - Board of Valuers, Appraisers & Estate Agents Malaysia Property Institute of New Zealand Savills China has recently been granted a Grade 1 Qualification in Real Estate Valuation by the Ministry of Housing & Urban-Rural Development Department. This qualification is the highest in the real estate and land valuation industry, with Savills being the second recipient since Savills Valuation & Advisory Asia Pacific

13 our specialist portfolio team Savills has a dedicated Portfolio Valuation Team comprising cross-border experts who deliver a consistent, unified service through a single point of contact. Our regional structure provides the ability to promptly assemble a team of professionals with the appropriate experience regardless of the complexity or geographical diversity of the portfolio. level or above dedicated as a single point of contact for the duration of the project Senior RICS qualified s oversee & sign-off all portfolio valuations High level of internal communication & connectivity between regional offices Local market knowledge coupled with regional expertise & Best Practice Standards Consistent report format tailored to the specific requirements of each client Standard valuation model with local compatibility functions Bespoke portfolio data base modelling Audit support In 2005, Savills was appointed on an initial 3 year term to undertake the valuation of a global portfolio, comprising 140 Embassies and Diplomatic Residences across 53 countries. In 2011, the Australian Goverment re-appointed Savills for a third consecutive term of 5 years. Asia Pacific Savills Valuation & Advisory 12

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15 our services Property sectors Office Industrial & Logistics Retail Hotels & Hospitality Residential Multi-family Development Land Infrastructure & Public Assets Healthcare Retirement Housing Student Housing Data Centres Special-use Plant & Equipment Purposes IFRS Annual Balance Sheet Compliance Initial Public Offering Documentation Mortgage Security Rental reviews Acquisition & Disposal Debt & Equity Raising Mergers & Acquisitions Stamp Duty & Taxation Statutory Land Value Objections Resumption Insolvency Advisory Full technical Due Diligence service including valuation modelling, market analysis, lease reviews, tenant assessments, building condition reports, inventory and capital expenditure budgets Development Project Consultancy including market and demographic research, development concept analysis, highest and best use study, competition survey, pricing strategy, cash flow modelling and overall feasibility Non-performing loan book analysis Bespoke financial modelling including cash flow forecasting Land rental & leasehold tenure negotiations Specialist rental determination & negotiation Expert witness and litigation matters Corporate recovery & restructuring Property Tax Advice Savills draws upon vast international & domestic expertise from within the group to provide independent, expert advice across all market sectors. Asia Pacific Savills Valuation & Advisory 14

16 our contacts Martin Fidden South-East Asia Regional Charles Chan North-East Asia Managing Stuart Fox Australasia +61 (0) sfox@savills.com.au Australia Stuart Fox +61 (0) sfox@savills.com.au Indonesia Anton Sitorus anton.sitorus@savills.co.id New Zealand Steven Dunlop +64 (0) sdunlop@savills.co.nz Hong Kong Charles Chan Managing ccchan@savills.com.hk Japan Takeshi Ichikawa, Head of Appraisal tichikawa@savills.co.jp Singapore Daniel Ee Senior dee@savills.com.sg Greater China Guangzhou, Shenzhen & Chengdu Jim Wong Senior jim.wong@savills.com.cn Beijing James Woo james.woo@savills.com.cn Korea Yu Ra Ahn yrahn@savills.co.kr Macao Cindy Liu cliu@savills.com.mo Taiwan Kempis Tai ktai@savills.com.tw Thailand Robert Collins Managing RobertC@savills.co.th Shanghai Andrew Kam andrew.kam@savills.com.cn Malaysia Paul Khong Deputy Managing paul.khong@savills.com.my Vietnam Troy Griffiths TGriffiths@savills.com.vn India Bryan Kidd bkidd@savills.in Myanmar Richard Emerson remerson@savills.asia Philippines Antton Nordberg antton.nordberg@kmcmaggroup.com Savills, the international real estate advisor established in the UK since 1855 with a network of over 600 offices and associates globally This document is prepared by Savills for information only. Whilst reasonable care has been exercised in preparing this document, it is subject to change and these particulars do not constitute, nor constitute part of, an offer or contract; interested parties should not rely on the statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy. No person in the employment of the agent or the agent s principal has any authority to make any representations or warranties whatsoever in relation to these particulars and Savills cannot be held responsible for any liability whatsoever or for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. This publication may not be reproduced in any form or in any manner, in part or as a whole without written permission of the publisher, Savills. Savills Singapore 2015.