The ASEAN Valuers Association (AVA) has formally adopted the International Valuation Standards, it announced at its 20th AVA Congress held in Singapore. The AVA was established in 1981 with five founding members: Indonesia, Malaysia, Philippines, Singapore, and Thailand. AVA members now include Brunei, Vietnam, and Cambodia. The Singapore Institute of Surveyors and Valuers (SISV) organized the event, which almost 300 ASEAN valuers, as well as representatives from Asia and the Middle East, attended. “While each of the AVA countries has its own unique local valuation standards that reflect its particular characteristics and norms, we agree unanimously to adopt the IVS for consistency and transparency, and to meet the growing international needs,” said Dr. Lim Lan Yuan, AVA prexy.
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