21 Aug 2020
QT Vascular Ltd.’s S$1 billion acquisition of Tengri Coal and Energy Pte. Limited
Partners Danny Lim and Cynthia Wu from Rajah & Tann Singapore are acting for medtech firm QT Vascular Ltd. in its S$1 billion acquisition of Tengri Coal and Energy Pte. Limited, a Mongolian mining and energy group. On completion, the acquisition will result in the reverse takeover of the company.
14 Aug 2020
Establishment of a state-owned hospital holding company led by PT Pertamina Bina Medika IHC (“PBM”)
Partners Putu Suryastuti and Mohammad Renaldi Zulkarnain from Assegaf Hamzah & Partners acted for the controlling shareholders of seven state-owned hospitals, namely PT Krakatau Steel (Persero) Tbk., PT Pelabuhan Indonesia II (Persero), PT Pelabuhan Indonesia III (Persero), PT Perkebunan Nusantara X, PT Perkebunan Nusantara XI, PT Perkebunan Nusantara XII, and PT Timah Tbk., in the second phase of the establishment of a state-owned hospital holding company, led by PT Pertamina Bina Medika IHC (“PBM”). The transaction resulted in PBM becoming the new controller of the seven hospitals by holding approximately 67% shares in each hospital. This second phase was closed on 7 August 2020.
05 Aug 2020
Maha Agriculture Public Company Limited’s investment and financing by FMO
Partners Dr Min Thein and Alroy Chan from Rajah & Tann Myanmar Company Limited acted for Maha Agriculture Public Company Limited in its investment and financing by FMO, the Dutch Entrepreneurial Development Bank. The intended USD 6 million in local Kyat equivalent financed by FMO will further support Maha in reaching out to its farmers and small business owners in rural Myanmar.
17 Jul 2020
Singapore court recognises Hong Kong liquidation proceedings pertaining to Shanghai Huaxin Group (Hongkong) Limited under the Model Law
Partners Raelene Pereira and Chua Beng Chye from Rajah & Tann Singapore has successfully obtained recognition of the Hong Kong liquidation proceedings pertaining to oil company Shanghai Huaxin Group (Hongkong) Limited in Singapore under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.