DECEMBER 2018 DISCOUNT RATE UPDATE

Discount rate update Dec 2018

The overall cost of capital remains stable Our latest update on how to assess your discount rates identified that: ⬧ Market indices have fallen due to a combination of lower growth expectations and a higher implied equity market risk premium, offset to some extent by a lower risk free rate. ⬧ With a higher market […]

LEADENHALL APPOINTS NEW DIRECTOR

LEADENHALL APPOINTS NEW DIRECTOR andrew steere

  Sydney, Australia: Leadenhall is proud to welcome Andrew Steere as a director, bringing a wealth of experience to business valuation clients. Prior to joining Leadenhall, Andrew spent 11 years at Deloitte as a director of business and financial modelling, and valuation services. Before Deloitte, he was the executive manager of forensic accounting for Ferrier […]

WHAT IS HAPPENING IN THE INFRASTRUCTURE DEBT MARKET

WHAT IS HAPPENING IN THE INFRASTRUCTURE DEBT MARKET

We recently valued an unsecured debt instrument issued by a large European infrastructure asset owner on behalf of a number of Australian superannuation funds. As infrastructure instruments (both debt and equity) are an emerging asset class for a range of investors, we thought it would be useful to share some of our insights on recent […]

HOW TO CHOOSE YOUR ACCREDITED BUSINESS VALUATION EXPERT

HOW TO CHOOSE YOUR ACCREDITED BUSINESS VALUATION EXPERT

We are pleased to announce that Richard Norris has been accredited as an expert witness by the Royal Institute of Chartered Surveyors (RICS).  The accreditation confirms that Richard has been trained and assessed to the highest standard to fulfil the expert witness role. This qualification reflects our focus on continuously improving our litigation support service […]

WE ARE HIRING

We are hiring

Looking for a move into corporate finance? Due to growth in the Sydney business, Leadenhall Corporate Advisory is now accepting applications for the position of analyst in its Sydney office. This role provides an opportunity to apply your strong technical and research capability while obtaining a deep knowledge of financial valuation and broader aspects of […]

How to Assess Your Discount Rates Reliably

How to Assess Your Discount Rates Reliably

Introduction With impairment testing and fair value measurement once again a key focus for ASIC in relation to the 31 December 2015 reporting period, you and your board will want to ensure the process is robust, including selecting discount rates that are reasonable. The following chart presents a summary of the overall change in weighted […]

HOW TO ASSESS IMPAIRMENT

HOW TO ASSESS IMPAIRMENT

Companies with a 31 December reporting deadline should have started preparing for impairment testing again. This update provides a quick look at how rates have moved since 31 December 2014. It will be followed by a more detailed analysis of the appropriate parameters to use as at 31 December 2015 shortly after that date. Overall […]

HOW TO SEND A GIFT IN 60 SECONDS

HOW TO SEND A GIFT IN 60 SECONDS

Congratulations to our client AHAlife on the launch of its mobile gifting app.  The app is designed to provide a platform for users to select and send a gift within 60 seconds.  Leadenhall recently prepared an independent expert’s report in relation to AHALife’s successful backdoor listing on the ASX.

WHAT THE ‘VALUE GAP’ IS AND HOW TO BRIDGE IT

WHAT THE ‘VALUE GAP’ IS AND HOW TO BRIDGE IT

A wise man once said “Price is what you pay and value is what you get.” Whilst Mr Buffet first said this back in the 1980’s, this still rings true today, particularly in what seems to be a new normal of turbulent capital markets that is often driven by factors other than fundamentals. Take for […]

WHAT BEPS MEANS TO YOU

WHAT BEPS MEANS TO YOU

We were pleased to attend a recent seminar by Greenwoods + Herbert Smith Freehills that discussed the final reports for the OECD’s global base erosion and profit shifting (BEPS) measures released on 5 October 2015.  The OECD has estimated an annual loss of US$100 billion to US$240 billion in global tax revenue and has identified […]