Theme : Valuation in Diversified and Emerging Economies

>>17th – 18th November 2008, Bucharest, Romania<<

Report on the 3rd WAVO Congress in Romania

The congress was designed to facilitate presentation of papers on topics pertaining to Valuation in Diversified and Emerging Economics. Co-hosted by the World Association of Valuation Organisations (WAVO) and the National Association of Romanian Valuers (ANEVAR), the 3rd WAVO Valuation Congress was held at the Crowne Plaza Hotel in Bucharest Romania from 17th to 18th November 2008. The two-day event attracted delegates from Australia, Canada, Malaysia, China, Philippines, Singapore and all over Europe.

At the opening ceremony, President of ANEVAR, Mr Adrian Vascu, and Chairman of WAVO, Dr Lim Lan Yuan, welcomed the guest & speakers. Dr Lim opened the ceremony by thanking member organisation for their unwavering support for WAVO and stress that moving forward, WAVO will continue to be developed to suit ever-changing needs of the industry.

The momentum picked up immediately where working papers with themes like Valuation in Cross Borders Issues, Valuation of Green Buildings, Business Valuation and Purchase Price Allocation, amongst many others, were presented.

Outstanding technical papers were the ones submitted by Prof Horia Cristea & Prof Alexandra Buglea, Romania, on The Financial Reports and Enterprise Appraisal, and submitted by Yan Shaobing, China, on Illiquid Stocks Control Premiums Study : Evidence from China. Both papers were presented with a token of recognition.

Tokens of recognition for outstanding practice papers were presented to Sorin Stan, Romania, for his paper on Coherence between concepts and methodologies of valuation – the direction of improvement for valuation standards, and to A/P Ciprian Sipos & Adrian Crivii, Romania, for his paper on A Linear Regression Model for Real Estate Appraisal.

The congress ended with a technical tour around the colossal Parliament Palace – the world’s second largest administrative building in the word after the Pentagon. Over at the farewell dinner in the evening, delegates from WAVO countries hailed the Congress in Romania as a success and plans were already in the pipeline for the next meeting in 2009.