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| SHM completes further Balkan valuation |
The valuation of 20 dairies in Serbia and Montenegro is the latest project for surveyors SHM Smith Hodgkinson to be completed in the Balkan states.
The dairies belong to five companies - Imlek Dairies, Subotica, Novi Sad, Impaz and Zemun – all of which were recently acquired by the Danube Foods Group.
Valuation of the property and machinery valuation was required for balance sheet purposes and to meet the recently introduced accounting procedures regulations International Financial Reporting Standards (IFRS).
The project saw a team of valuers from SHM’s UK and Belgrade offices visit each of the dairies, which are located throughout Serbia and Montenegro.
SHM's work in the Balkan states is growing as their economy continues to attract investment from outside the region.
This investment comes at the same time as the introduction of the IFRS and means more companies are having their assets professionally audited so as not to be compromised. Directors are also taking a more proactive view on this as they recognise that they can now be personally liable for the overstated value of assets. This is particularly important in cross border transactions. |
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