SYNERGY has developed a comprehensive costing database, complete with supporting in-house computer based on analysis and calculation. The database relates to many widely used published indices such as Richardson Database, Nelson Farrar Index, Marshall and Swift and Chemical Engineering Index and other. This in house software is technically reliable in determining current value of assets to ensure adequate coverage is provided in the event of loss.
The current value of assets, which differs with present value for the financial book’s value, may also be used for other purposes, such as assessing insured value for insurance purposes, and supported Risk Analysis for Total Sum Insured (TSI) Calculation. Besides that we can provide advice on getting the appropriate sum insured for asset owner.
We have had 27 years of experience for valuation work both in Indonesia and international. for Oil & gases, Synergy have experiences to conduct offshore and onshore survey, and we have experienced valuer in Indonesia and overseas more than 10 years to do these jobs.
currently synergy is the number one company that doing valuation work almost oil and gas assets in Indonesia, all refineries and almost big oil and gas company in Indonesia have been valued by Synergy.
In otherwise, our project not only on oil & gases but also on non-oil& gases, like petrochemical, gas transport industrial, mining etc. You can look on our experiences project in this web.
The Valuation Method :
Conduct site visit to specific asset object which has been instructed by the asset holder. This method is used by assessment and verified details of overall plant, major machinery, equipment, structures and buildings etc.In this method we will check detail per item list of inventories at field. This Method is normally used in condition before the pandemic.
Conduct without site visit which has been instructed by the asset holder, this method based on our last experience survey in same area, the assessment and verified details of overall plant based on technical data, video or photos. The budget for this job cheaper than Full Valuation and suitable for the current pandemic condition.
Two types of the method have own advantages and disadvantages, but the results are still valid. For more detail you can ask to us feel free, we will guide the suitable method for your asset.
For support our assessment Synergy have many references database and index. Ours database and index are commonly used in industrial and has international standards. You can look some of our database and index in this web.
The Type of Values :
- Reinstatement As New / Replacement As New (RAN) : The costs required to replace, repair, or rebuild the insured property to a new condition that is substantially the same as, but not better or more extensive than the pre-event condition (no betterment).
- Others Value : The type of replacement value other than the RAN agreed by the Insurer and the Asset Holder for the type of replacement that is adjusted to the condition of the asset, where the scenario must be clearly described by the Asset Holder i.e. First Loss Limit (FLL), Indemnity Value, ACV, MRV, etc.
However another to these value types, there are actually several other value types but they have different functions.
Inclusions and Exclusions
One area that causes the most confusion, and often the most errors, in declared values at risk is inclusions and exclusions.
A company’s fixed asset register may include a large number of items that do not need to be reflected in reinstatement costs, e.g. road, gate fence, land preparation, redesign, upgrading, financing costs, etc refer to insurance policy statement. Equally, asset registers may not include a number of insurable elements that may need to be reflected in values as risk, e.g. rental assets.