21 May 2020 - Article
Acted for Blue Ocean Resources Pte Ltd, a subsidiary of PT Central Proteina Prima Tbk, a vertically integrated shrimp producer group listed on the IDX, in a successful application to the Singapore High Court to sanction the restructuring of bonds of an aggregate principle amount of US$325 million by way of a scheme of arrangement under the Singapore Companies Act. This was the first successful application of its kind in Singapore in relation to the restructuring of a global note.
Advising on the rationalisation and restructuring of a large and unwieldy conglomerate that had, over time, become unnecessarily complex especially in terms of the ownership structure, with a view to creating a smaller, more nimble organisation, set up along business lines.
Advised Raiffeisen Bank Internacional AG, Singapore Branch (RBI) in the restructuring of a US$70 million credit facility provided to an Indonesian borrower involved in the coal mining industry. Before the restructuring was finalised, RBI successfully divested its US$45 million interest in the facility to an investment fund based in Singapore with interests in leading growth-oriented family-owned businesses in the ASEAN region.
Represented an Indonesian group in its joint venture with a member of the UCC Group which involved extensive structuring and negotiations to ensure an equitable division of rights and responsibilities between the parties despite their unequal interests in the joint venture vehicles.
Acted for all the stakeholders of PT iForte Solusi Infotek, including its strategic investor, Trifecta Investnents Ltd, a member of the Saratoga Group, on the approximately US$63 million divestment of their entire interest to PT Professional Telekomunikasi Indonesia, a subsidiary of tower operator PT Sarana Menara Nusantara Tbk (Protelindo). The transaction involved extensive negotiations with Protelindo to facilitate a tax satisfactory unwinding cum exit for the stakeholders.
Law Society of Singapore
Me in a minute
I grew up as a transactional lawyer and I am an absolute transaction junkie.
I especially enjoy the intensity of negotiations and the rush of closing a deal. I find that I work best when I know the "story" behind the deal and can internalise the motivations and objectives of the clients. I am very much vested in my clients which is why I often talk in terms of what "we" want to do and what "we" want to achieve in the transaction. This is even though I know full well I will not be making the same multiple on the transaction.
If I were not a lawyer, I would have loved to become a professional triathlete or something equally punishing.