Singapore Exchange (SGX) and the Singapore Institute of Surveyors and Valuers (SISV) announced on Aug 17 that they are jointly reviewing valuation practices as well as reporting done by real estate valuers that are engaged by listed issuers.

As investors rely on real estate valuations when making decisions on investment in REITs and business trusts, credible valuations will ensure investor interest is safeguarded and maintain confidence in the REITs and business trust sector.

SGX and SISV are forming a review committee, which will comprise representatives from various stakeholder groups, including Michael Tang, head of listing policy & product admission at SGX, as well as three other representatives from SGX.

Other members of the review committee include CapitaLand Singapore’s chief investment officer for residential Wong Jen Lai, and Mapletree’s deputy group CEO Chua Tiow Chye.