As a Partner in the Capital Markets and Mergers & Acquisitions Practice Group, Danny regularly keeps pace with his clients as they “bulk up” or “slim down” through all forms of corporate exercises (including fund-raising, acquisitions, disposals, investments, IPOs, delistings and restructurings).
Guided by his professional motto “Deal-make, and not deal-break. Always find a way to bridge the gap between negotiating parties and close the deal”, Danny has, for more than 25 years, practised and advised on all aspects of corporate legal advisory and transactional work, including share purchases, asset disposals, joint ventures and investments, takeover offers, IPOs, rights issues, placements, reverse takeovers, delistings, corporate restructurings and reorganisations, and continuing listing compliance.
Danny’s clients comprise MNCs, SMEs, private equity and institutional investors, Singapore and foreign listed companies, financial institutions and others. He has, in particular, represented local and regional clients in their out-bound investments into the PRC, and conversely, PRC clients making in-bound investments into Singapore, including acquiring substantial stakes in Singapore listco targets and listing via IPOs and reverse takeovers.
EXPERIENCE
Advised E2I Pte. Ltd. in its voluntary unconditional offer for Silverlake Axis Ltd. (which is listed on the Main Board of the Singapore Exchange), in consideration for cash or a combination of cash and offeror redeemable preference shares. Based on: (a) the immediate cash offer price of S$0.36 per share, Silverlake Axis is valued at approximately S$905.3 million; and (b) the immediate cash offer price of S$0.30 coupled with the deferred redemption amount of S$0.18 per share, Silverlake Axis is valued at approximately S$1.2 billion. The group is a leading enterprise technology, software and services company in the Asia Pacific region
Advised Green Esteel Pte. Ltd. in its RM251.5 million investment in Southern Steel Berhad (which is listed on Bursa Malaysia) by way of subscription of new shares. Southern Steel is involved in the manufacturing, sale and trading in steel bars, billets, wire rods, wire mesh, pre-stressed concrete strands, bars and wires, steel pipes, steel wires and other related products, and investment holding
Advised RE&S Holdings Limited (which is listed on the Catalist Board of the Singapore Exchange), as offeree in the privatisation scheme of arrangement by Relish Investments, which is advised and managed by Southern Capital Group Private Limited (a leading Singapore-headquartered private equity firm that focuses on investments into high growth middle market businesses across Southeast Asia). Based on the offer price of S$0.36 per share, RE&S is valued at S$127.38 million, with the offer consideration in cash or cash and securities of Relish Investments. RE&S owns and operates Japanese food and beverage outlets in Singapore and Malaysia, as well as a procurement office in Japan
Advised BRC Asia Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited, in its S$16.07 million acquisition of interest in Angkasa Daehan Steel Pte. Ltd., which is principally engaged in the business of construction, trade, dealing and/or fabrication of steel reinforcement and/or related activities, whether on-site or off-site. BRC Asia group is the largest reinforcement steel solutions provider in Singapore, with manufacturing and storage facilities spanning over 150,000m2 (Apr 2024)
Advised HG Metal Manufacturing Limited, which is listed on the Main Board of the Singapore Exchange, in its S$13.33 million placement of shares to Green Esteel Pte. Ltd.. Green Esteel is an investment holding company, with substantial investments locally, including in BRC Asia Limited, which is also listed on the Main Board of the Singapore Exchange. HG Metal is one of the largest steel distributors and processors around the region, with business presence in Singapore, Indonesia and Malaysia
Advised Green Esteel Pte. Ltd. in its S$2.43 million acquisition of shares in HG Metal Manufacturing Limited, which is listed on the Main Board of the Singapore Exchange, from Rise Capital Ventures Limited. Green Esteel is an investment holding company, with substantial investments locally, including in BRC Asia Limited, which is also listed on the Main Board of the Singapore Exchange. HG Metal is one of the largest steel distributors and processors around the region, with business presence in Singapore, Indonesia and Malaysia
Advised HG Metal Manufacturing Limited, which is listed on the Main Board of the Singapore Exchange, in the S$2.4 million disposal of interest in its Myanmar subsidiary, First Fortune International Company Limited. HG Metal is one of the largest steel distributors and processors around the region, with business presence in Singapore, Indonesia and Malaysia
Advised BRC Asia Limited, which is listed on the Main Board of the Singapore Exchange, in its S$14 million disposal of interest in Pristine Islands Investment Pte. Ltd., which holds a subsidiary undertaking hotel and resort operations and airport management in Maldives. BRC Asia group is the largest reinforcement steel solutions provider in Singapore, with manufacturing and storage facilities spanning over 150,000m2
Advised Hsteel Pte. Ltd. in its S$140 million investment in New Vision Holding Pte. Ltd., which is presently held by The Place Singapore Investment Pte. Ltd. (a subsidiary of The Place Holdings Limited, which is listed on the Main Board of the Singapore Exchange), MCC Land (Singapore) Pte. Ltd. and Sun Card Limited. New Vision owns the land at 15 Enggor Street in Tanjong Pagar, which is slated for redevelopment
Advised Kirin Holdings Co. as Singapore counsel, in its A$1.88 billion acquisition of shares in Blackmores Ltd., which is listed on the Australian Securities Exchange, by way of a scheme of arrangement. Blackmores is Australia’s leading natural health company that offers an array of vitamins, minerals, herbal products and nutritional supplements, employing more than 1,200 people in 13 markets across Asia-Pacific
Advised Sinochem International (Overseas) Pte. Ltd. in its US$180.87 million sale of shares in Halcyon Agri Corporation Limited, which is listed on the Main Board of the Singapore Exchange, to China Hainan Rubber Industry Group Co., Ltd. (in turn listed on the Shanghai Stock Exchange). The sale will result in China Hainan Rubber triggering a pre-conditional mandatory general offer for all the shares in Halcyon Agri, which values the group at US$502.43 million. The group is a global leader in natural rubber with key operating assets located in Indonesia, Malaysia, Thailand, PRC and Africa, supported by a network of logistics assets and sales offices in South East Asia, PRC, Africa, Europe and the United States
Advised Duchess Avenue Pte. Ltd. as offeror in its conditional exit offer for shares in Golden Energy and Resources Limited, which is listed on the Main Board of the Singapore Exchange, pursuant to a voluntary delisting of the company. The exit offer is conditional on, amongst others, the distribution in specie of shares held by the company in PT Golden Energy Mines Tbk, which is listed on Indonesia Stock Exchange. Based on the effective offer price of S$0.846 per share, the group is valued at S$2.23 billion. The group is an energy and resources group involved in exploration, mining and marketing of metallurgical coal in Australia and energy coal in Indonesia, as well as gold mining, forestry and renewable energy
Advised Tamaris Infrastructure Pte. Ltd. in its exit offer for Moya Holdings Asia Limited, which is listed on the Catalist Board of the Singapore Exchange, pursuant to a voluntary delisting of the company. Based on the offer price of S$0.092 per share, the group is valued at approximately S$386.7 million. The group is one of the largest water treatment operators in Indonesia and focuses on developing and operating water treatment facilities which include extraction and treatment of raw water and distribution and sale of treated water
Advised Silkroad Nickel Ltd, which is listed on the Catalist Board of the Singapore Exchange, in the voluntary conditional general offer via cash or shares by Horowitz Capital Ltd.. Based on the offer price of S$0.42 per share, the group is valued at approximately S$109.7 million. The group owns and carries out nickel ore open pit mining operations in Central Sulawesi, Indonesia, including exploration, planning, transportation and stockpiling, delivery and barging, as well as reclamation and rehabilitation works
Advised Keppel Infrastructure Trust, which is listed on the Main Board of the Singapore Exchange, as Singapore counsel in its S$346.4 million joint venture with Keppel Infrastructure Holdings Pte Ltd and Keppel Asia Infrastructure Fund LP to acquire Eco Management Korea Holdings Co. for S$666.1 million. The target is a leading integrated waste management services player in South Korea, offering waste treatment and recycling, as well as waste-to-energy services, and operates six waste-to-energy plants and five sludge drying facilities located across South Korea. Keppel Infrastructure engages in power and renewables, environment and new energy businesses by leveraging its proprietary technology, strong technical expertise and proven operating capabilities
Advised Keppel Infrastructure Trust, which is listed on the Main Board of the Singapore Exchange, as Singapore counsel in its S$191.6 million joint venture with Keppel Renewable Investments Pte. Ltd. to invest S$233.6 million in a diversified portfolio of operational and pipeline onshore wind projects across Norway, Sweden and the United Kingdom sponsored by Fred. Olsen Renewables AS, one of the largest renewable energy independent power producers in Northern Europe. Keppel Infrastructure engages in power and renewables, environment and new energy businesses by leveraging its proprietary technology, strong technical expertise and proven operating capabilities
Advised Esteel Enterprise Pte. Ltd. in its RM135.88 million acquisition of Eden Flame Sdn. Bhd. from Lion Industries Corporation Berhad, which is listed on Bursa Malaysia. The target company owns a long steel plant located in Pasir Gudang, Johor that produces billets which are rolled into steel bars and light sections such as angle bars, flat bars and U-channels
Advised Esteel Enterprise Pte. Ltd. in its US$122 million acquisition of Antara Steel Mills Sdn Bhd from Lion Industries Corporation Berhad, which is listed on Bursa Malaysia. The target company operates a hot briquetted iron plant in Labuan and is in the business of manufacturing and sale of billets which are rolled into steel bars and light sections such as angle bars, flat bars and U-channels
Advised Toptip Holding Pte Ltd in its S$233.2 million acquisition of shares in NatSteel Holdings Pte. Ltd., which supplies premium reinforcement steel products and solutions for the construction industry in Southeast Asia and has an annual steel production capacity of over 2 million tonnes, from Tata Steel Limited. Toptip is engaged in the trading of iron ore and steel products
Advised Fairfax Asia Limited, as offeror in its voluntary conditional cash offer for the shares of Singapore Reinsurance Corporation Limited, which is listed on the Main Board of the Singapore Exchange. Based on the offer price of S$0.3535 per share, the company is valued at S$210.8 million. Singapore Reinsurance is engaged in underwriting general reinsurance as well as investment activities of non-reinsurance funds. Fairfax group is listed on the Toronto Stock Exchange and is involved in property and casualty insurance and reinsurance and associated investment management
Advised World Class Global Limited (which is listed on the Catalist Board of the Singapore Exchange), as offeree in the privatisation scheme of arrangement by its controlling shareholder, Aspial Corporation Limited (which is listed on the Main Board of the Singapore Exchange). Based on the offer price of S$0.21 per share, World Class is valued at S$192.33 million, with the offer consideration to be satisfied by way of issue of new Aspial shares. World Class is engaged in property development and investment in major cities in Australia and Malaysia, as well as operation of hotels in Malaysia, whilst Aspial owns a diversified portfolio of real estate, financial services, jewellery and hospitality businesses
Advised Bank of China Limited, Singapore Branch, as joint financial adviser (together with DBS Bank Limited) to Jinhushen Biological Medical Science and Technology Co., Ltd and Tianjin Pharmaceutical (Singapore) International Investment Pte. Ltd., as offeror in the possible mandatory unconditional cash offer for shares in Tianjin Zhong Xin Pharmaceutical Group Corporation Limited, which is listed on the Shanghai Stock Exchange and Main Board of the Singapore Exchange. Based on the offer price of US$0.893 per SGX-ST share and RMB17.43 per SSE share, the company is valued at around S$2.26 billion. The group is principally engaged in the manufacturing, sales and distribution of pharmaceuticals, including research, development and manufacture of Chinese patent medicines, Chinese herbal medicines, chemical raw materials and preparations, biomedicine and nutraceuticals, and its main products include cardiovascular and respiratory medicines, gastrointestinal drugs and anti-cancer drugs
Advised QT Vascular Ltd., which is listed on the Catalist Board of the Singapore Exchange, in its S$1 billion acquisition of Tengri Coal and Energy Pte. Limited. The target group holds mining licences issued to mine coal deposits in Bayan soum, Tuv province, Mongolia, as well as licences for the construction of power plants and energy facilities in Mongolia. On completion, the acquisition will result in the reverse takeover of the company. The company is currently engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases
Advised Sinochem International (Overseas) Pte. Ltd., the 54.99% majority controlling shareholder of Halcyon Agri Corporation Limited in its S$175.45 million renounceable non-underwritten rights issue of shares. Halcyon Agri is listed on the Main Board of the Singapore Exchange, and the rights issue proceeds are intended to deleverage its balance sheet, strengthen its capital structure and enhance its financial position. The group specialises in the origination, production and distribution of natural rubber, and owns natural rubber plantations, operates natural rubber processing factories as well as sources rubber of a range of origins and grades for distribution to customers through its international sales network
Advised Esteel Enterprise Pte. Ltd. in its US$128 million acquisition of shares in Antara Steel Mills Sdn Bhd from Lion Industries Corporation Berhad, which is listed on Bursa Malaysia. Antara operates a hot briquetted iron plant in Labuan and is in the business of manufacturing and sale of billets which are rolled into steel bars and light sections such as angle bars, flat bars and U-channels
Advised the founder of HTL International Holdings Pte Ltd in the acquisition of the assets and businesses of the company from its interim judicial managers from Deloitte & Touche. HTL International Holdings is currently owned by Yihua Lifestyle Technology Co., Ltd. (which is listed on the Shanghai Stock Exchange), and was valued at approximately S$400 million when it was privatised and delisted from the Singapore Exchange in 2016. The group manufactures, imports, and exports leather sofas and leather upholstery furniture, and sells and distributes upholstered furniture and home furnishing products with a presence in more than 52 countries
Advised CITIC Envirotech Ltd. in its selective capital reduction of shares at S$0.55 per share subsequent to its delisting from the Main Board of the Singapore Exchange in January 2020, which values the group at S$1.34 billion. CITIC Envirotech group is a leading membrane-based integrated environmental solutions provider specializing in water and wastewater treatment, water supply and recycling. It is engaged in sludge and hazardous waste treatment as well as river restoration, and further undertakes both turnkey and investment projects as well as provides plant operation and maintenance services in water and environmental projects
Advised Elec & Eltek International Holdings Limited as offeror in its voluntary conditional cash offer for the shares of Elec & Eltek International Company Ltd, which is dual primary listed on the Main Board of the Singapore Exchange and Main Board of the Stock Exchange of Hong Kong Limited. Based on the offer price of US$2.33 per share, Elec & Eltek International Company is valued at US$435.6 million. The group is primarily engaged in the design, development, manufacture and distribution of high-density, double-sided and multi-layered printed circuit boards
Advised Meghmani Organics Limited, which is listed on the Main Board of the Singapore Exchange, National Stock Exchange of India Limited and BSE Limited, as Singapore counsel in the delisting of its Singapore depository shares from the Singapore Exchange as part of its composite restructuring scheme of arrangement under the Indian Companies Act 2013 to restructure its existing business divisions. The restructuring will result in two new companies being listed on the Indian stock exchanges. Based on the exit offer price of S$0.72 per Singapore depository share, Meghmani Organics is valued at S$366.2 million. The group is principally engaged in the manufacture and sale of pigments and agrochemicals products, trading in chemical products, chloro-alkali and its derivatives
Advised OUE Lippo Healthcare Limited, which is listed on the Catalist Board of the Singapore Exchange, in its S$149.96 million renounceable underwritten rights issue of shares. The rights issue proceeds are intended to fund the acquisition of units in First Real Estate Investment Trust and shares in its manager, Bowsprit Capital Corporation Limited, as well as for working capital. The group is principally engaged in the development and management of healthcare facilities in Japan and PRC, with plans to expand its portfolio across Southeast Asia
Advised CKM (Cayman) Company Limited, a special purpose vehicle of CITIC Environment Investment Group Co., Ltd, , as offeror in its pre-conditional exit offer for the shares of CITIC Envirotech Ltd, which is listed on the Main Board of the Singapore Exchange. Based on the offer price of S$0.55 per share, CITIC Envirotech is valued at S$1.34 billion. CITIC Envirotech group is a leading membrane-based integrated environmental solutions provider specializing in water and wastewater treatment, water supply and recycling. It is engaged in sludge and hazardous waste treatment as well as river restoration, and further undertakes both turnkey and investment projects as well as provides plant operation and maintenance services in water and environmental projects
Advised TBN Property Company Limited on its S$106 million acquisition of listing status of Memstar Technology Ltd., which is listed on the Main Board of the Singapore Exchange, by way of a scheme of arrangement under Section 210 of the Singapore Companies Act. TBN is the owner and service provider of three community malls located in Bangkok, namely, The Paseo Mall in Lat Krabang district, The Paseo Town near Ramkhamhaeng Road and The Paseo Park on Kanchanapisek Road, with an aggregate land size of approximately 123,000 square metres and gross floor area of approximately 175,000 square metres
Advised Baodi International Investment Company Ltd as Singapore counsel in its HK$950.4 million possible unconditional mandatory cash general offer for the shares and cancellation of outstanding share options in Techcomp (Holdings) Limited, which is primary listed on The Stock Exchange of Hong Kong Limited and secondary listed on the Main Board of the Singapore Exchange. The Techcomp group is engaged in the design, development, manufacture and distribution of analytical instruments, life science equipment and laboratory instruments
Advised Alliance Mineral Assets Limited, which is listed on Catalist Board of the Singapore Exchange, on its acquisition and merger of equals with Tawana Resources NL, which is listed on the Australian Stock Exchange, by way of a scheme of arrangement under the Australian Corporations Act. Post-merger, Alliance will be dual listed on the Singapore Exchange and Australian Stock Exchange with A$446 million market capitalisation. Both Alliance Mineral and Tawana are engaged in the development, processing and production of lithium related mineral resources
Advised BRC Asia Limited, which is listed on the Main Board of the Singapore Exchange, in its S$199.3 million pre-conditional voluntary cash offer for shares in Lee Metal Group Ltd, which is also listed on the Main Board of the Singapore Exchange. Lee Metal is an established distributor and fabricator of steel products as well as a recognised international trader of steel and steel related products in the region
Advised Sound Global Limited, which is listed on The Stock Exchange of Hong Kong Limited, as Singapore counsel in its possible delisting from The Stock Exchange of Hong Kong Limited and privatisation by way of selective capital reduction. The group is a leading one-stop integrated water and wastewater treatment solutions provider in the PRC, offering services covering the full value chain of the water and wastewater treatment industry from the design and construction of water and wastewater treatment facilities, to the operation and maintenance of water and wastewater treatment facilities and the manufacture of water and wastewater treatment equipment. Prior to its trading suspension, the company had a market capitalisation of approximately S$776.47 million
Advised Broadway Food Centre (Holdings) Pte Ltd in its acquisition of S-11 F&B Holdings Pte Ltd, which operates 23 coffee shops in Singapore, for more than S$200 million
Advised Oscar Investment Private Limited in its privatisation and delisting of TEE International Limited, which is listed on the Main Board of the Singapore Exchange, pursuant to a scheme of arrangement under Section 210 of the Singapore Companies Act, whereby Oscar Investment is offering either cash or new shares for existing shares of TEE International. Based on the offer price of S$0.215 per share, the group is valued at approximately S$148 million. The group has three business divisions, comprising its engineering business, real estate business, and infrastructure business
Advised Excel First Investments Limited, being a subsidiary of Kingboard Chemical Holdings Limited which is listed on the Main Board of The Stock Exchange of Hong Kong Limited, in its voluntary unconditional cash offer for the shares of Kingboard Copper Foil Holdings Limited, which is listed on the Main Board of the Singapore Exchange. Based on the offer price of S$0.40 per share, the group is valued at approximately S$289 million. The group is engaged in the manufacture and trading of polyvinyl butyral and related products and licensing business
Advised International Healthway Corporation Limited, which is listed on the Catalist Board of the Singapore Exchange, in the mandatory unconditional cash offer by Treasure International Holdings Pte. Ltd., a wholly owned subsidiary of OUE Limited, to acquire all the shares of the company. Based on the offer price of S$0.106 per share, the group is valued at approximately S$175.86 million. The group provides elderly care, specialist healthcare services for women and children, and primary and preventive care through hospitals and nursing homes, maternity homes and step-down care facilities, and also owns and manages healthcare facilities in the PRC, Japan, Australia and Malaysia in which it operates its healthcare services
MEMBERSHIPS / DIRECTORSHIPS
- Member, Singapore Academy of Law
- Member, Law Society of Singapore
