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Public Consultation for an Intangibles Disclosure Framework to Increase Transparency and Commercialisation of Intangibles

14 Dec 2022

1          The Accounting and Corporate Regulatory Authority (ACRA) and the Intellectual Property Office of Singapore (IPOS) have launched a public consultation for an Intangibles Disclosure Framework (Framework) to help businesses disclose and communicate their intangibles. The public consultation exercise will run from 14 December 2022 to 28 February 2023.

2          A public-private initiative supported by the Ministry of Finance, the Framework was developed by the Intangibles Disclosure Industry Working Group which comprises representatives from the accounting, valuation, legal and finance sectors. (See Annex for composition of Working Group.) The Framework seeks to improve market transparency by enabling businesses to identify and disclose their intangibles. Innovation has become a global engine of growth with the value of global intangibles reaching an all-time high of more than US$74 trillion in 2021.  Intangibles are the non-physical assets of a company that include technologies, brand recognition, data, trade secrets, and intellectual property (IP) such as patents, copyrights and trade marks.

3          The Framework aims to provide stakeholders with standardised information about a company’s intangibles, so that more informed assessments of business and financial prospects can be made. The Framework will help businesses communicate the value of their intangibles and maximise their economic potential. This will enhance information transparency and facilitate the commercialisation of intangibles, such as increasing access to financing as businesses, investors and financial institutions gain clearer insights on a company’s intangibles.

4          The Framework consists of four pillars:

  • Strategy: How a company’s use of intangibles contributes to the organisation’s overall corporate strategy.
  • Identification: How intangibles are categorised based on their nature and characteristics. There are six recommended categories under this pillar, namely marketing, customer, artistic, contract, technology and human capital-related.
  • Measurement: How a company measures its intangibles - the performance metrics and targets used.
  • Management: How a company identifies, assesses, and manages intangibles-related risks and opportunities.

5          Mr Andre Toh, Co-Chairman of the Intangibles Disclosure Industry Working Group, said: “The Intangibles Disclosure Framework will provide value-relevant metrics to help communicate the value and quality of intangibles, and will present a holistic picture of how intangibles are linked to business strategy and revenue.” 

6          Mr Frederick Chin, the Working Group’s other Co-Chairman, added: “As businesses increase their investments in intangible assets (IA), there is a need for an Intangibles Disclosure Framework to help improve transparency and decision-making by private and capital market players. For banks, the Framework provides a robust understanding of how intangibles contribute to the cash flows of businesses.”

7          The Framework is a key initiative under the Singapore IP Strategy 2030, a 10-year blueprint to attract and grow innovative enterprises using IA, including IP. It aims to encourage growth for companies so as to move towards a vibrant and innovative Singapore economy driven by IA.

8          The public can access the consultation documents on the ACRA and IPOS websites, and the REACH consultation portal. Members of the public can submit their comments via FormSG.


Composition of the Intangibles Disclosure Industry Working Group

  1. Frederick Chin
    Managing Director, Head, Group Wholesale Banking & Markets, United Overseas Bank (Co-Chairman)

  2. Andre Toh
    Partner, Valuations, Modelling & Economics Leader, EY Singapore (Co-Chairman)

  3. Chai Ming Jie
    Senior Intellectual Property Counsel, Lenovo

  4. Tricia Feng
    Chief Counsel, Asia Wealth and Asset Management
    Manulife Investment Management

  5. Srividya Gopal
    Managing Director and Southeast Asia Leader, Kroll

  6. Lam Chee Kin
    Managing Director, Head, Legal, Compliance & Secretariat, DBS

  7. Jamesy Laya
    Partner, KPMG

  8. Karen Loon
    Member of the Governing Council, Singapore Institute of Directors

  9. Jack Ow
    Assistant General Counsel, APAC Intellectual Property, Operations & Technology

  10. Murli Ravi
    Co-founder and Managing Partner, Tin Men Capital

  11. Tan Boon Gin
    CEO, SGX RegCo

  12. Tan Ching Ne
    Partner, PwC

  13. Mark Teng
    Executive Director, That.Legal

  14. James Xu
    Partner, Deloitte


For media queries, please contact:


Jenny Kwok
Senior Assistant Director
Media & Communications
Tel: +65 6331 6572


Simon Yee
Corporate Communications
Tel: +65 6989 5933

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