Independent buy-side financial due diligence — calibrated for Indonesia and Southeast Asia.
Independent financial due diligence that goes beyond the management accounts. The Corvilla FDD examines quality of earnings, working capital normalisation, debt and debt-like items, and key financial risks — producing a structured, advisor-reviewed report that every buyer, lender, and financial sponsor needs before closing a transaction in the ASEAN mid-market.
Every Corvilla FDD report is structured around four interconnected analytical pillars — designed to surface the adjustments, risks, and red flags that matter most to a buy-side decision-maker in the ASEAN mid-market context.
Distinguishes recurring from non-recurring revenue and costs. Normalises EBITDA to strip out one-offs, related-party distortions, and management discretion items — producing a defensible adjusted earnings figure that reflects true business performance.
Establishes a normalised working capital baseline for deal structuring. Analyses seasonality, cash conversion cycle, and trade receivables quality. Identifies the working capital peg and typical SPA adjustments required in the Indonesian context.
A complete schedule of all financial obligations — on and off balance sheet. Covers bank facilities, shareholder loans, contingent liabilities, deferred tax, and other items that reduce enterprise value to equity value in the deal pricing process.
A structured review of accounting policies, tax exposures, PSAK/IFRS compliance gaps, and any findings that create financial or transactional risk — calibrated for the Indonesia regulatory context, including DJP, OJK, and PPh obligations.
The Corvilla FDD is for decision-makers who cannot rely on management-prepared financials alone — and who need an independent, advisor-led view of financial quality before capital is committed.
You are acquiring a business in Indonesia or Southeast Asia and need independent financial verification — quality of earnings, working capital, and debt analysis — before signing the SPA or submitting a binding offer.
You are evaluating an acquisition target and need a defensible, normalised earnings figure and working capital analysis for deal structuring, pricing, and investment committee presentation.
You are providing acquisition finance and require independent FDD as part of your credit underwriting process — confirming the financial integrity of the borrower's target before drawdown.
You are entering a joint venture with an Indonesian or regional business and want verified financials — covering debt obligations, related-party transactions, and regulatory compliance — before committing equity capital.
Deliverables scale with tier. Standard covers the core financial verification. Comprehensive and Enterprise add depth, management access, and multi-entity coverage.
A structured written report covering all four pillars — quality of earnings, working capital, debt schedule, and financial risks. Includes an executive summary with key findings and deal implications. Board-ready and investor-presentable.
A fully adjusted income statement and EBITDA bridge documenting every normalisation item, its magnitude, and the rationale. Delivered as a narrative section and an Excel working schedule — fully auditable.
A documented normalised working capital baseline with monthly seasonality analysis, trade receivables aging, and a reference working capital peg for use in SPA negotiations.
A comprehensive schedule of all debt, quasi-debt, and debt-like items — both on and off balance sheet — with a clear EV-to-equity value bridge for deal pricing and offer structuring.
A ranked register of material financial findings, risks, and red flags — with deal implications, recommended warranty or indemnity protections, and suggested additional diligence items.
A 45–60 minute walkthrough call with the Corvilla Capital advisor who led the engagement. Covers key findings, deal implications, normalisation rationale, and recommended next steps.
Pricing is determined by scope of historical analysis, sector complexity, and geographic coverage. All engagements begin with a scoping call to confirm the right tier and data room requirements.
All prices are indicative and subject to scoping confirmation. Complex or cross-border transactions may be priced differently. Corvilla Capital does not charge retainers — fees are fixed and agreed before work commences.
If you have a question not covered here, reach out directly via WhatsApp or the contact form.
The Corvilla FDD intake portal is in development. Leave your details and we will notify you the moment the product goes live — or connect you with an advisor now if your transaction is time-sensitive.
The Corvilla FDD is designed to work alongside the Dealability Score, Feasibility Study, Investment Memorandum, and Financial Model — or as a standalone buy-side product. The same team, the same ASEAN expertise, the same rigour.