Abstract:
This case comment analyses the approach of the Family Division of the High Court in XML v XMM [2025] 5 SLR 241 to valuing A$750,000 that had been dissipated from the pool of matrimonial assets. It argues that, conceptually, all matrimonial assets, including money, should be valued as at the date of the ancillary matters hearing. While the current practice of valuing Singapore dollar-denominated money as at the date of the interim judgment remains a workable and useful shorthand that would achieve just and equitable outcomes in most cases, the same cannot be said for foreign currency, the value of which relative to the Singapore dollar is susceptible to swift and substantial fluctuations. Foreign currency should therefore be treated as an investment asset and valued as at the date of the ancillary matters hearing, unless the circumstances of the case justify a different valuation date.