Lee Fong specialises in mergers and acquisitions, capital markets, joint ventures and general corporate work. Lee Fong has been involved in various mergers and acquisitions work and general corporate transactions, including share purchases, asset acquisitions and disposals, joint ventures and cross-border investments, takeover offers, rights issues, placements, reverse takeovers, delistings, corporate restructurings, capital reductions and continuing listing compliance. Lee Fong also has experience in advising trustee of real estate investment trusts in various transactions.
Recent Notable Transactions
- Disposal by HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of CapitaLand Mall Trust) of Sembawang Shopping Centre
Advised HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of CapitaLand Mall Trust) in its disposal of Sembawang Shopping Centre to Lian Beng – Apricot (Sembawang) Pte. Ltd. for a total consideration of S$248 million (June 2018)
- Proposed Acquisition of City Plaza by Pavillon Holdings Ltd.
Advised Pavillon Holdings Ltd., which is listed on the Main Board of the Singapore Exchange Securities Trading Limited, (as its Singapore legal counsel) in its RM52 million proposed acquisition of part of City Plaza, Johor Bahru, Malaysia and 8 plots of lands adjoining City Plaza, its proposed issuance of new shares as part settlement of the properties purchase, its proposed issuance of RM29,855,000 principal amount of 5% convertible bonds due 3 years, its proposed change of controlling interests and the proposed disposal of the entire equity interest in Tianjin Binhai New Area Changjiang Cultural Assets Trading Center Co., Ltd. by its associated company (February 2018)
- Capital Reduction and Cash Distribution of HG Metal Manufacturing Limited
Advised HG Metal Manufacturing Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited, in its capital reduction to write off S$68.18 million accumulated losses and cash distribution of S$13.38 million surplus cash (December 2017)
- Acquisition of Shares in Chilli Padi Group
Advised ABR Holdings Limited, which is listed on the Main Board of the Singapore Exchange, in its proposed acquisition of the holding company of Chilli Api Catering Pte. Ltd., Chilli Padi Nonya Catering Pte. Ltd. and Chilli Padi Nonya Restaurant Pte. Ltd. (July 2017)
- Placement of S$10.65 million Shares in HG Metal Manufacturing Limited and its Joint Venture in Myanmar
Advised HG Metal Manufacturing Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited, in: (a) the US$24.975 million proposed purchase of shares in Min Dharma Steel Structures Co. Ltd by a wholly-owned subsidiary of HG Metal and the proposed joint venture in relation thereto; and (b) the S$10.65 million proposed private placement of shares in HG Metal (October 2015)
- Delisting of China Merchants Property Development Co., Ltd. from the Singapore Exchange pursuant to RMB57.3 billion Merger with China Merchants Shekou Industrial Zone Holdings Co., Ltd.
Advised China Merchants Property Development Co., Ltd., which is primary listed on the Shenzhen Stock Exchange and secondary listed on the Main Board of the Singapore Exchange, as Singapore counsel in its RMB57.3 billion merger with its controlling shareholder, China Merchants Shekou Industrial Zone Holdings Co., Ltd. (which is in turn wholly owned by China Merchants Group Limited). In particular, as part of the PRC merger, China Merchants Property will make an exit offer to shareholders on, and delist from, the Singapore Exchange. The China Merchants Property group is principally engaged in property construction and development businesses in the PRC (September 2015)
- Placement of S$5.7million Shares in Medtecs International Corporation Limited
Advised Medtecs International Corporation Limited, which is listed on the Catalist Board of the Singapore Exchange, in its S$5.7 million placement of shares to a private investor. The placement is intended to fund working capital. The group is an integrated healthcare products and services provider in the Asia Pacific region, and manufacturer and distributor of medical consumables for the global healthcare industry (September 2015)
- Renounceable Underwritten Rights Issue of S$18.9 million by Yamada Green Resources Limited
Advised Yamada Green Resources Limited, which is listed on the Main Board of the Singapore Exchange, in its S$18.9 million renounceable underwritten rights issue of shares to shareholders. The rights issue proceeds are intended to fund strategic investment and acquisition opportunities as well as general corporate and working capital. The group is a major grower, manufacturer and supplier of fresh and processed agricultural products in Fujian Province in the PRC, and its products are sold in major cities in PRC and Japan through a well-established network under its trademarked brands (June 2015)
- Acquisitions of Sewage Treatment Plant and Water Supply Plant by Sound Global Ltd.
Advised Sound Global Ltd., which is listed on the Hong Kong Exchange, in its acquisitions of 100% share capital in Advanced Resources Holdings Pte. Ltd. (“ARH”) and Advanced Water Engineering Pte. Ltd. (“AWE”) for a total consideration of approximately RMB72.50 million and S$2 million, respectively. ARH and AWE are wholly owned by Advanced Holdings Ltd, a company listed on the Singapore Exchange, and they operate a BOT project for Mumashan Sewage Treatment Plant and a TOO project for Pengxi County Water Supply Plant in Sichuan Province, the PRC (December 2014)
- Acquisition of US$145 million shares by Suzhou Anjie Technology Co., Ltd.
Advised Suzhou Anjie Technology Co., Ltd., which is listed on the Shenzhen Exchange, in its acquisition of Supernova Holdings (Singapore) Pte. Ltd. from Supernova (Cayman) Limited, for US$145 million (November 2014)
- Disposal of S$131.6 million Serviced Residence Properties in Malaysia and PRC
Advised Ascott Investment Holdings Ltd and Ascott Serviced Residence (China) Fund in their S$131.6 million divestments of serviced residence properties, namely, Somerset Ampang Kuala Lumpur, Citadines Gaoxin Xi’an and Citadines Zhuankou Wuhan via the sale of interests in their special purpose holding entities (August 2014)
- Acquisition of US$309.04 million PRC Property Interests by Yang Guang Co., Ltd.
Advised Yang Guang Co., Ltd., which is listed on the Shenzhen Stock Exchange, in its US$309.04 million acquisition of interest in Coralvest Private Limited and Merino Private Limited, which in turn hold interest in Tianjin Jianshe Xinhui Trading Co., Ltd. and Tianjin Zijin Xinjia Trading Co., Ltd., respectively, which are engaged in property development, construction, commercial project management and operation as well as retail-related commercial leasing in the PRC (February 2014)
- Placement of S$24.84 million Shares in Thai Village Holdings Ltd
Advised Thai Village Holdings Ltd, which is listed on the Main Board of the Singapore Exchange, in its S$24.84 million placement of new shares to Zheng Fengwen and Chen Liping at the issue price of S$0.138 per share. The placement is part of the group's strategy to diversify its businesses from its restaurant operations and restaurant management services, and capitalise on opportunities in commercial properties in Asia (December 2013)
- Exit Offer of S$32.4 million in connection with the Voluntary Delisting of Consciencefood Holding Limited
Advised Consciencefood Holding Limited, which was listed on the Main Board of the SGX-ST, in the S$32.4 million cash exit offer by Baltic Group Capital Limited in connection with the company's voluntary delisting from the Singapore Exchange. The group is principally engaged in the manufacturing and sale of instant noodles, snack noodles and beverages in Indonesia (September 2013)
- Acquisition of S$12.96 million Land Drilling Rig by Federal International (2000) Ltd
Advised Federal International (2000) Ltd, which is listed on the Main Board of the Singapore Exchange, in its S$12.96 million acquisition of a 1,000 HP Brewstern -85 land drilling rig, which consideration is to be satisfied via a debt set-off and issue of new shares. The group's core businesses in oil and gas include supply, assembly and distribution of flowline control products and distribution of oilfield drilling equipment for use on onshore and offshore rigs and drilling platforms (September 2013)
- Mandatory Unconditional Cash Offer of S$276.9 million for Viz Branz Limited
Advised Pluto Rising Pte. Ltd. in its mandatory unconditional cash offer for all the issued and paid-up ordinary shares in Viz Branz Limited, which is listed on the Main Board of the Singapore Exchange. Based on the offer price of S$0.78 per share, the offer values the target group at S$276.9 million. The target group is principally engaged in the manufacturing and exporting of fine-quality instant beverages, mixes, snack food and non-dairy creamer, and sells its products to markets such as the People's Republic of China, South-East Asia, Indochina, Iran, Japan, Africa, the Middle East as well as the United States of America (July 2013)
- Delisting of China Animal Healthcare Limited
Advised China Animal Healthcare Limited (dual listed on the Main Board of the Singapore Exchange and The Stock Exchange of Hong Kong Limited) as Singapore counsel in its voluntary delisting from the Singapore Exchange by way of selective capital reduction, whilst retaining its listing on the Hong Kong Exchange. Based on the offer price of S$0.30 per share, the group is valued at approximately S$572.9 million. The group is principally engaged in the business of manufacturing, sale and distribution of animal drugs. It is one of the leading players in the PRC animal drugs industry with 14 proprietary product brand names for powdered drugs, injection form drugs and biological drugs (May 2013)
Memberships / Directorships
- Member, Singapore Academy of Law
- Member, Bar Council of Malaysia