The Singapore Exchange (SGX) and the Intellectual Property Office of Singapore (IPOS) recently launched a pilot Intangible Disclosure Evaluation and Audit Scheme (IDEAS) programme to support companies in their evaluation and audit of intangible assets.
The IDEAS programme, which is offered to SGX-listed companies and companies preparing for listing, recognises intangible assets as an important indicator of business value. Such information is often omitted in financial and stakeholder reports, which tend to focus on tangible asset values based on traditional accounting practices.
The programme serves to identify intangible assets that are key drivers of businesses and encourages disclosure of such information. This helps to build investor trust and facilitate capital raising efforts by companies.
Some of the companies that have enrolled in the programme include SGX-listed companies, REVEZ Corporation Ltd and Hyphens Pharma International Limited, as well as Memiontec, which is currently preparing for listing on the stock market.