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CASE STUDY: Valuation of SCBAM Property Funds

Valuation

Key Information

Client

SCB Asset Management Co., Ltd. (“SCBAM”)

Location

Bangkok, Thailand

Topline

CBRE Thailand was appointed for the valuation of their 2 office listed property funds.

Services Provided


Annual valuation and quarterly updates for the financial reporting of 2 property funds

 

Overview


SCBAM, a fund management business unit of Siam Commercial Bank (SCB), is one of Thailand’s leading asset management firms. SCBAM manages 7 listed property and infrastructure funds covering retail, office, hotel, and industrial properties and telecommunication infrastructure. CBRE Thailand was appointed for the valuation of their 2 office listed property funds.

Strategy


  • Complied with the valuation practice required by the Securities and Exchange Commission of Thailand (SEC) and international valuation standards for public purposes valuation.
  • Worked with the fund manager to best forecast the performance of the assets under special situation (anchor tenant relocation). CBRE leveraged our extensive in-house database and transactions to make the assumptions.
  • Timely response to enquiries from the fund’s reliant parties including trustee and independent auditor on material changes in asset performance and market value. CBRE provided real market evidence in supporting our opinion, which exceeded the client’s expectation.

 

Results


  • CBRE was initially appointed in Q1 2019 for the valuation of Siri Prime Office Property Fund.
  • Subsequently, in Q2 2019, CBRE was also appointed for the valuation of Prime Office Leasehold Property Fund.

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