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Valerie Ong

Valerie Ong

Senior Partner

Valerie Ong

Senior Partner

“Valerie is a great commercial person to work with and always puts her clients’ interest first on deals.” - Chambers Asia Pacific, 2024

Valerie is recognised in IFLR1000 Women Leaders for 2022. Reserved for only the most prominent women lawyers across the world, IFLR1000 Women Lawyers 2022 are an elite group of lawyers with outstanding reputations within their markets who either have expertise and experience of working on complex deals, or who have risen to hold leadership roles with their firms or their practices. – IFLR1000 Women Leaders, 2022

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“Valerie is a great commercial person to work with and always puts her clients’ interest first on deals.” - Chambers Asia Pacific, 2024

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Valerie Ong is Dentons’ Global Capital Industry Leader. She is a senior partner in the Singapore Corporate practice group. Valerie co-heads the Capital Markets practice and is the Singapore-Vietnam and Singapore-Australasia relationship partner. Her portfolio covers M&A and Capital Markets and she has extensive transactional and cross-border experience.

With decades of M&A cross-border experience, she has represented clients in significant deals in Asia. She is acting for Thomson Medical Group in the largest healthcare acquisition in South-east Asia, with the purchase of Vietnam’s biggest healthcare group, FV Hospital, for S$517.1 million (US$381.4 million). She also acted for Malaysian PETRONAS in its acquisition of M+, one of India’s largest rooftop solar power producers. She advised CapitaLand Limited on its investment in the consortium in a landmark mixed development in Chongqing, China. The RMB 21.1 billion (S$4.1 billion) project at the prime 987,943 square foot site in Chao Tian Men is reported to be CapitaLand's largest development in China.

Her Corporate Real Estate experience includes representing funds and property developers in some of the city’s largest transactions, including 71 Robinson Road (S$655 million) ▪ Manulife Building (S$555.5 million) ▪ Westgate (S$789.6 million for 70% stake) ▪ Jurong Point (S$2.2 billion) ▪ Funan (S$170.3 million) ▪ Bedok Mall (S$783.1 million) ▪ 78 Shenton Way (sale of 50% share interest to an Alpha fund, valued at S$608 million and prior to that, sale of 50% share interest for S$301.5 million) ▪ The Lumos (S$185.6 million) ▪ iLiv@Grange (S$95 million) ▪ nex shopping mall (purchase of 50% interest from a Pramerica fund for S$800+ million) ▪ Twenty Anson (S$430 million) ▪ Crowne Plaza Changi Airport (S$299.5 million, which won the HICAP award in Hong Kong) ▪ DBS Building Towers 1 and 2 (now known as OUE Downtown) (S$870.5 million) ▪ CapitaLand (S$91.8 million acquisition of the Big Orange self-storage business from Invista Real Estate). She also acted for CapitaLand in the joint venture which submitted the top bid of S$969 million in the URA tender of the white site at Boon Lay Way, Singapore.

In the residential sector, she acted for The Ascott Limited in the sale of the 230-unit Cavendish London and Ascott Kuningan serviced residence in Ciputra Jakarta, for a consideration of £116.3 million and US$40 million respectively, to CapitaLand Ascott REIT; in the sale of interests in properties in France, Japan, Vietnam, US and Australia, to Ascott Residence Trust for S$215.2 million; for a SC Capital Partners fund in the bulk sale of 18 units in Paterson Suites to Blackstone; and in the corporate sale of 111 Emerald Hill apartments developed by a LaSalle fund.

In Debt Capital Markets, she acted for Boustead Industrial Fund in the establishment of its S$1 billion notes programme (jointly arranged by DBS Bank and United Overseas Bank) as well as the QDS issue of S$55 million 7% Series 001 Notes due 2031. She also acted in the establishment of multicurrency medium term note (MTN) programmes for TEE Land Limited (S$250 million), Tee International Limited (S$350 million), Eu Yan Sang International Ltd (S$300 million), Heeton Holdings Limited (S$300 million multicurrency debt issuance programme) and KSH Holdings Limited (S$300 million). She acted in notes/bonds issuances by Koh Brothers Group Limited (S$70,000,000 5.10% notes due 2022), Eu Yan Sang International Ltd (S$75 million 4.10% notes due 2018), Heeton Holdings Ltd (S$75 million 5.6% fixed rate notes due 2015 and S$60 million 5.9% fixed rate Series 002 Notes due 2017), KSH Holdings Ltd (S$75 million 5.25% fixed rate notes issue due 2016) and TEE Land Limited’s inaugural issue of S$30 million 6.50 per cent notes due 2017. She represented Overseas Union Enterprise Limited in the S$300 million secured fixed rate listed bond issue. She also served as bank counsel in the S$113 million sale of their security interests in Sincere Watch Limited; and counsel to trustee and administrator in the US$346 million Vesta Investment Corporation Limited FRN issue (in the securitization of the Metropolitan and Scotts High Park condominium).

In the RIB (restructuring, insolvency and bankruptcy) sector, she has acted for SGX-listed Pacific Radiance Ltd in its multiple rounds of notes consent solicitation exercises in connection with its S$100 million 4.30% Notes due 2020 comprised in Series 001 issued under the company’s S$1 billion multicurrency debt issuance programme, as well as serving as Pacific Radiance’s counsel in its US$200+ million debt restructuring with ENAV Offshore Mexico S de RL de CV group.

In Equity Capital Markets, she has acted in more than 20 listings (including S-chips). Notably, she acted for Yangzijiang Shipbuilding (Holdings) Ltd in its global offering and listing on the Singapore Exchange (SGX) which raised almost S$1 billion and remains Singapore's largest S-chip IPO to date. Her other listings include International Housewares Retail Company Limited (HKSE stock code 1373), Global Palm Resources Holdings Ltd (SGX), Vision Fame International Holding Limited (HKSE), China Kangda Food Co Ltd (HKSE) and Asia Distribution Solutions Limited (AIM). She has advised in various capacities, including as solicitors to the invitation and as legal advisers to the issue managers, placement agents and underwriters, on the following SGX listings: ▪ Pacific Radiance Ltd ▪ Global Palm Resources Holdings Limited China ▪ Kangda Food Company Limited ▪ Yangzijiang Shipbuilding (Holdings) Ltd ▪ China Farm Equipment Limited ▪ OuHua Energy Holdings Ltd▪ Plastoform Holdings Limited ▪ Hoe Leong Corporation Ltd ▪ System Access Limited ▪ Gates Electronics Limited ▪SNF Corporation Ltd ▪ Elite KSB Holdings Limited ▪ Creative Master Bermuda Limited ▪ Heeton Holdings Limited ▪ Juken Technology Limited ▪ Norelco Centreline Limited ▪ Futuristic Image Builder Ltd ▪ MAE Engineering Ltd ▪ CWT Distribution Limited ▪ Fu Yu Corporation Ltd ▪ Heshe Holdings Limited.

Valerie serves on the ASEAN Interest Group of the Singapore International Chamber of Commerce, the Government Parliamentary Committee (GPC) for Finance, Trade and Industry Resource Panel, and has served on boards of SGX-listed companies.

Experience

Korzinka: Acting (as part of a cross border Dentons team) for Korzinka, Uzbekistan’s leading supermarket chain, on securing a US$110 million equity investment from Abu Dhabi Uzbek Investment and a consortium of Omani sovereign investment funds, led by Uzbek-Oman Investment Company. The deal represents one of the largest private investments in Uzbekistan in recent years. Founded in 1996, Korzinka is a pioneer in Uzbekistan’s retail sector, operating 150 supermarkets as well as an expanding e-commerce platform. The investment will allow it to expand its network to more than 1000 stores and build a 49,000 sq.m. distribution center, which it plans to open in the second half of 2025. In line with its commitment to sustainability, the new stores are expected to be 20-30 percent less carbon intensive. Valerie led the team advising on Singapore law issues related to Korzinka’s holding company.
UOB Kay Hian: Acting for UOB Kay Hian as Arranger in the issue of Guaranteed Senior Notes due April 30, 2027 (New Notes) by Modernland Overseas Pte Ltd (MOPL) as Issuer, in connection with the restructuring of the existing US$130,725,234 Guaranteed Senior Notes due June 30, 2025 (ISIN: XS1871087133; Common Code: 187108713) and US$10,312,057 Guaranteed Senior PIK Toggle Notes due June 30, 2025 (ISIN: XS2421278115; Common Code: 242127811) issued by JGC Ventures Pte. Ltd. (JGCV), and US$213,936,094 Guaranteed Senior Notes due April 30, 2027 (ISIN: XS1592893546; Common Code: 159289354) and US$19,088,210 Guaranteed Senior PIK Toggle Notes due April 30, 2027 (ISIN: XS2421278388; Common Code: 242127838) issued by MOPL (Existing Notes). Pursuant to the exchange offers and consents solicitations undertaken by JGCV and MOPL (implemented via schemes of arrangement), holders of the Existing Notes will receive a one-time cash consideration and exchange their Existing Notes for the New Notes.
Stagwell Inc: Acting as deal counsel for Nasdaq listed Stagwell Inc in the acquisition of ADK Global, an integrated advertising and marketing solutions group headquartered in Japan with presence in 10 jurisdictions, for an undisclosed sum. The acquisition marks the first regional acquisition for Stagwell in the Asia-Pacific market, the latest addition set to expand the network’s regional staff count to over 2,000 team members, spanning agencies and affiliates on the ground in Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
BYD Electronic (International) Company Limited: Acted as Singapore counsel to seller in BYD Electronic (International) Company Limited’s acquisition of US based manufacturer Jabil Inc’s mobility business in China, valued at US$2.2 billion. Jabil Circuit Singapore Pte Ltd, which is based in Singapore and manufactures printed circuit boards, had established a unit with product manufacturing business in Chengdu and Wuxi, which was sold to BYD.
Nuveen Real Estate: Acted via a Asia Pacific Cities vehicle in its investment and joint venture with JP Morgan Global Alternatives to acquire a Grade A office building, One George Street, in Singapore at a consideration of S$1.28 billion (approximately US$952.59 million).
Private equity firm KKR and fund manager Global Infrastructure Partners: Acted as an advisor to acquire data centre operator, CyrusOne. CyrusOne is a real estate investment trust (REIT) that designs, builds and operates data centres; with over 50 high-performance data centres globally, it serves more than 1,000 customers. The all-cash transaction is valued at approximately US$15 billion, including the assumption of debts.
Thomson Medical Group: Acting for Thomson Medical Group Limited (TMG) in the largest healthcare acquisition in South-east Asia, with the purchase of Vietnam’s biggest healthcare group, FV Hospital (which includes primary and specialist clinics), for S$517.1 million (about US$381.4 million). TMG won the bid to purchase FV Hospital from its founders, a group of French physicians led Dr Jean-Marcel Guillon and Quadria Capital Investment (an Asia healthcare-focused private equity firm), after a competitive bidding process which started with 20 other global suitors. Dubbed the “Gleneagles Hospital of Vietnam”, FV Hospital provides full-service quality healthcare for patients in Vietnam, as well as from Cambodia, Laos and Myanmar.
The Ascott Limited: Acting for The Ascott Limited (TAL) in the sale of lodging assets in London and Jakarta for a sale consideration of £116.3 million and US$40 million respectively, to CapitaLand Ascott REIT. The sale is part of an acquisition by CapitaLand Ascott REIT and CapitaLand Ascott Business Trust of in-aggregate S$530 million of lodging assets, which include the Cavendish London and Ascott Kuningan. The stapled purchaser group will acquire the holding company that owns the largest asset – the 230-unit Cavendish London – at a purchase consideration of £116.3 million (S$194.1 million). The property is situated in Mayfair, a high-end shopping district in central London. The consideration takes into account the holding company’s consolidated net asset value (NAV) of £62.2 million, an agreed property value of £215 million, and £54.1 million in shareholder loans extended by TAL. The holding company that owns serviced residence Ascott Kuningan, Jakarta (located at Ciputra World) will be acquired for US$40 million – based on a consolidated NAV of US$1.6 million, an agreed property value of 620 billion rupiah (S$54.1 million), and S$50.7 million in shareholder loans from TAL as at May 31, 2023.
- Acted for The Ascott Limited in the sale of shareholding and direct interest in nine properties to Ascott Residence Trust (ART) for an aggregate consideration of S$215.2 million. The properties in France, Japan, Vietnam, the US and Australia comprise (i) La Clef Tour Eiffel, a serviced residence located in France; (ii) a rental housing portfolio in Japan (located in Kyoto, Osaka, Hyogo and Nagoya) comprising Marunouchi Central Heights, House Saison Shijo-Dori, S-Residence Shukugawa, SResidence Namba Viale and SResidence Gakuenzaka; (iii) Somerset Central TD Hai Phong City, a serviced residence located in Vietnam; (iii) Standard at Columbia, a student accommodation property under development located in United States of America; and (iv) Quest Cannon Hill, a serviced residence located in Australia.
- Acted for CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited, who invested S$170.3 million in the service residence component of the Funan integrated development. This was done through Ascott’s 50%:50% joint venture service residence global fund set up with Qatar Investment Authority (QIA). Of the S$170.3 million, the fund acquired the serviced residence component from CapitaLand Mall Trust (CMT) for S$90.5 million and developed the Singapore flagship of Ascott’s millennial-focussed lyf brand on the site for an estimated S$80 million. Ascott’s investment was made via the acquisition CMT’s service residence component in Funan through the purchase of units in a special purpose trust. The acquisition was based on an agreed land value of S$90.5 million for Funan’s service residence component, and other assets of about S$11.3 million. This included capitalised development costs up to the completion date of the acquisition, which is expected to be in Q4 2017. Named ‘lyf Funan Singapore’, the serviced residence consists of a 9-storey co-living property spanning about 121,000 sq. ft. in GFA, providing 279 units with flexibility to offer 412 rooms.
Boustead Projects Limited: Acting for offeree, Boustead Projects Limited, in the voluntary unconditional offer by Boustead Singapore Limited, to privatise Boustead Projects Limited. The offer price is S$0.90 per offer share. The deal values Boustead Projects Limited at S$281.9 million.
- Also acted for Boustead Projects Limited (BPL) in the exit offer by Boustead Singapore Limited (BSL) for the remaining shares in BPL other than those already owned or controlled by BSL, in connection with the directed delisting of BPL. The exit offer price is S$1.18 per exit offer share. BPL was directed by the Singapore Exchange to delist as its 10% free float was lost and not restored following the close of the previous voluntary unconditional offer by BSL. BPL was successfully delisted following the close of the exit offer.
Pacific Radiance Ltd: Acted for Singapore Exchange listed Pacific Radiance Ltd and its associate, Jakarta Stock Exchange listed PT Logindo Samudramakmur TBK (Logindo), in the debt restructuring of Logindo’s existing secured loan facilities into loans with new financiers. The principal amount of US$95.2 million was secured on charges and a guarantee provided by Pacific Radiance, with an agreed transfer of US$14 million of the restructured loan to Pacific Radiance subject to certain terms.
- Also acted for Pacific Radiance in its three previous rounds of consent solicitation exercises in connection with its S$100 million 4.30% Notes due 2020 comprised in Series 001 issued pursuant to the company’s S$1 billion multicurrency debt issuance programme, which included multiple extensions of the maturity date of the Notes, waiver of payment covenants and redemption of the Notes through the issue of securities and debt instruments (such as new shares, warrants, convertible bonds and promissory notes).
- Also acted for Pacific Radiance Ltd in its previous restructuring attempt with Allianz Marine and Logistics Services Holding Ltd (an Abu Dhabi-headquartered company in the business of integrated offshore logistics solutions, operating in the Gulf Cooperation Council region, India and Egypt), in connection with a US$180 million debt restructuring plan and related equity fund raising.
- Also acted for SGX-listed Pacific Radiance Ltd in its consensual debt restructuring with the ENAV Offshore Mexico S de RL de CV group (ENAV) (a Mexican offshore support vessel owner and operator that services the Mexican and international offshore industry) which involved inter alia the disposal of 33 vessels to ENAV in exchange for consensual discharge of US$200 million secured indebtedness; collaboration by Pacific Radiance’s key management with ENAV through minority share participation; securing ship management agreements with ENAV to manage the majority of its vessels after the sale of the 33 vessels; restructuring of remaining debt obligations of approximately US$229 million via schemes of arrangement; consensual restructuring of the loan associated with its office and shipyard complex of approximately US$52 million, and other unsecured debt obligations with its secured lenders; consensual restructuring of the Notes via a 4th consent solicitation exercise so that the Notes would be redeemed through the issue of new shares in Pacific Radiance and the issue of new perpetual securities; consensual restructuring of various cross-currency swap facilities with some of its secured lenders via the issue of ordinary shares in Pacific Radiance; allotment of new shares in Pacific Radiance to its key management to satisfy certain conditions of the ship management agreements; issue of two classes of warrants to existing shareholders and to the key management of Pacific Radiance; and corporate actions including share consolidation.
Element Materials Technology (“Element”): Acted for Element in the acquisition of the FOSTA group, a leading geotechnical instrumentation and soil investigation specialist based in Singapore. FOSTA holds a prominent position in the Singapore market, supporting both public sector building and infrastructure projects, and private customers. FOSTA’s customers include the Land Transport Authority, Public Utilities Board and Housing & Development Board. Also acted for Element in the acquisition of a leading testing, inspection, calibration and certification provider, Singapore Test Services (STS), a subsidiary of ST Engineering. STS, and its team of 110 experts, supports customers in a diverse set of industries, including aerospace, energy, built environment and manufacturing. STS services include materials testing, chemical and environmental testing, calibration and certification. Element is a global leader in testing, inspection, and certification (TIC) services, and recently became a subsidiary of Temasek, a global investor headquartered in Singapore. Temasek had been a minority shareholder in Element since 2019.
Boustead Industrial Fund: Acted for Boustead Industrial Fund in the establishment of its S$1 billion Notes Programme which was jointly arranged by DBS Bank and United Overseas Bank, as well as the issue of S$55 million 7% Series 001 Notes due 2031 (which are qualifying debt securities) to three investors, namely, an institutional real estate special purpose vehicle and subsidiaries of Metro Holdings Ltd and of sponsor, Boustead Projects Limited. The Series 001 Notes are issued together with the subscription by these investors for S$12.6 million of units in the Fund. The proceeds will be utilized to finance the Fund’s S$121 million acquisition 351 Braddell Road, a high-spec industrial building which has a net lettable area of 236,864 sq ft and an existing WALE of 4.1 years, with tenants that include NETS, Secretlab and Electrolux.
DB&B Holdings Pte. Ltd.: Acted for the owners of DB&B group in the sale of holding company, DB&B Holdings Pte. Ltd., to Okamura Corporation for ¥ 3,263 million. The DB&B group is headquartered in Singapore with operations in Singapore, China, Thailand, Malaysia and the Philippines. DB&B provides commercial interior design services, including design consultancy, design & build and build services, and supports businesses in renovating, expanding and relocating work spaces. Okamura is a Tokyo stock exchange listed group which is engaged in the manufacture and sale of office furniture products and industrial machinery, and the provision of store displays and material handling systems.
Boustead Projects Limited: Acted for the listed Boustead Projects Limited and two other purchasers of the mezzanine debt of a property group. The transaction involved the purchase of S$110 million of notes due 2020 issued by SC Aetas (Cayman) Limited from four selling noteholders, who are private investors. The Notes are secured by a share charge over a property owning company, assignment of accounts and shareholder loans, and a personal guarantee. The property company owns the property at 30 Bideford Road, known as Orchard Hills/Orchard Hills Residences, which has a carrying value of S$720,188,616. The consideration for the purchase of the Notes was S$117 million with an additional consideration of S$12,287,816 payable if certain conditions are met. The Notes are in default and the purchasers can take ownership of the Property upon enforcement of the security granted in respect of the Notes.Also acted for the buyer consortium (in which listed Boustead Projects had a 50% joint venture share) in the purchase of the 18-storey freehold luxury development at 28 and 30 Bideford Road for S$515 million. The development comprises targeted hospitality, healthcare and commercial components. The sale of the building was pursuant to an enforcement of a share charge in relation to S$110 million notes due 2020 secured over the shares of the property owner which was placed under creditors voluntary liquidation.
Chunichi Copro Holdings Co.: Acted for Chunichi Copro Holdings Co., Ltd in its purchase of Lian Cheng Contracting Pte Ltd and Wisdom Environmental Services Pte Ltd for a confidential sum. Chunichi Copro Holdings has 7 group companies and they provide cleaning / maintenance services, logistic services, staffing services for hospitality industries, and construction services. Lian Cheng and Wisdom has been in the business of cleaning, conservancy, real estate management and maintenance services for over 30 years.
Boustead Fund: Acting for the vendors in the sale of a portfolio of industrial properties to a fund for a consideration of S$332.2 million. The properties in the portfolio includes Edward Boustead Centre, GSK Building, Bombardier Aerospace, 11 Seletar Aerospace Link and Continental Building. The sale is being undertaken through a combination of direct asset sales and sale of partnership and share interests in the property holding entities. The fund is giving a rental guarantee over several of the properties in the portfolio. The sale is subject to shareholders’ approval.
Boustead Singapore Limited: Acting for the client in the sale of its water solutions unit, Boustead Salcon Water Solutions Pte Ltd to Chip Eng Seng Construction Pte Ltd for about $7.3 million. The matter was completed within an expedited time frame over the Christmas holidays on 30 December 2020.
LOGOS: Acted for LOGOS in its investment and partnership with Singapore-listed CSC Holdings Limited to re-develop a site at Tanjong Penjuru Crescent into a six-storey warehouse. The new facility to be built for an estimated total development cost of S$108 million, will include a built-to-suit high specification work shop for CSC which has committed to a long term pre-lease. This re-development forms part of LOGOS’ new Singapore fund, Singapore Logistics Venture 2. LOGOS invested a total of S$19 million in the capital of the joint-venture entity. The LOGOS group is a vertically integrated logistics property specialist with operations in Australia, New Zealand, China, Singapore, Indonesia, Malaysia, Vietnam and India.
PF Nonwovens US: Acted for PF Nonwovens US in the sale of its Wuxi-based nonwovens operations to Jofo Nonwovens Co., Ltd, a leading nonwovens supplier in China, for a confidential sum. PFNonwovens is a global leading producer of nonwoven textiles with operations in Europe, USA and Africa. First Quality started making spunmelt nonwovens in Wuxi in 2013. Dentons acted for PFNonwovens when it acquired the operation from First Quality Nonwovens in 2018.
PETRONAS: Acted for Malaysian state-owned oil and gas firm Petroliam Nasional Bhd’s (PETRONAS) acquisition of 100% interest in Amplus Energy Solutions Pte Ltd (also known as M+) for an undisclosed sum. M+, a leading Singapore-based company with a portfolio of distributed, renewable energy assets in Asia, is one of India’s largest rooftop solar power producers. The acquisition from I Squared Capital, an independent global infrastructure investment manager, marks the oil major’s international foray into renewable energy. M+ caters to commercial and industrial customers, specialising in end-to-end solutions for rooftop and ground-mounted solar power projects. With a cumulative capacity of over 500 megawatt (MW) under operation and development, M+ serves more than 150 commercial and industrial customers at over 200 locations across India, the Middle East and South East Asia.
Crops Corporation: Acting in its acquisition of the Innovare group, for a confidential sum. Crops Corporation is a Tokyo and Nagoya stock exchange listed group engaged in the sale and service of mobile phones in Japan. Innovare is a workforce management group which provides business solutions to manage compliance risk and payroll for contractors. The Innovare group is headquartered in Singapore and has 14 subsidiaries in 17 countries in the Asia Pacific region.
COMMERZ REAL: Acting for Commerz Real Investmentgesellschaft MBH in the sale of 71 Robinson Road Singapore, via the sale of the entity holding the property. The buyer, SV Robinson, is a real estate investment company which is a member of the Sun Venture group. The sale was done through Commerz Real’s open-ended real estate fund hausInvest. The purchase price of S$655 million for the 15-storey office block in the Central Business District translates to around S$2,756 psf based on a net lettable area of 237,644 sq. ft.. 71 Robinson Road’s tenants include CommerzBank, Visa, Ogilvy and WeWork.
ARA Asset Management and Chelsfield: Acting for joint venture, ARA Asset Management and British group, Chelsfield, in their purchase of Manulife Centre in Bras Basah Road, a city fringe location near the Orchard corridor in Singapore. The acquisition price for the 11-storey commercial building was S$555.5 million or around S$2,305 per square foot on a net lettable area of over 241,000 sq. ft.. Chelsfield will add the asset to its Chelsfield Asia Fund I, and ARA to one of its private real estate funds. Manulife Centre was owned by a partnership of Alpha Asia Macro Trends (AAMTF) Fund II and City Developments Ltd (CDL). AAMTF II is managed by Alpha Investment Partners, the private fund management arm of Keppel Capital Holdings, a unit of Keppel Corporation.
T2 Asia-Pacific Table Tennis League: Advised T2 Asia-Pacific Table Tennis League, pan-regional first-of-its-kind professional table-tennis league, in their sale of a 20% equity stake to Dentsu Sports Asia (DSA), the Singapore-based sports marketing subsidiary of Dentsu Inc., one of the world’s largest media and advertising companies. The joint venture will see DSA manage global sales and marketing for the league. The International Table Tennis Federation (ITTF) announced in July 2018 its partnership with T2Apac, where T2Apac will launch new Diamond-tier events in 2019 leading to the revamped World Tour in 2021.
CapitaLand Limited: Advising in the divestment of a 70% stake in Infinity Mall Trust that holds Westgate – the retail component of an integrated retail and office development in Singapore’s Jurong Lake District, to CapitaLand Mall Trust for S$789.6 million, valuing the entire Westgate development at S$1.128 billion, which translates to a S$2,746 psf at a passing yield of 4.3%.
Mercatus Cooperative Limited: Acting for Mercatus Cooperative Limited in the purchase of Jurong Point and certain aspects of the mail operating business for S$2.2 billion from Lee Kim Tah Holdings and Guthrie GTS joint venture. This is the biggest property investment sales deal so far this year. The price translates to S$3,343 psf based on the 658,000 sq ft of commercial net lettable area (NLA) with an estimated net yield of 4.2%. Jurong Point’s total NLA of 761,000 sq ft makes it Singapore’s largest suburban mall. Linked to Boon Lay MRT Station and Bus Interchange, the mall draws an average of 6 million visitors a month. The expression of interest exercise for Jurong Point closed last November following which Blackstone, Frasers Centerpoint and Macquarie were shortlisted for due diligence but Mercatus surfaced as the new frontrunner in February this year. This deal won the Asian Legal Awards Real Estate Deal of the Year 2018.

Koh Brothers Group Limited: Acting for Koh Brothers Group Limited, a Singapore Stock Exchange Main Board listed company, in relation to the update of the S$250,000,000 Multicurrency Medium Term Note Programme established on 12 May 2014, and on its issue of S$70,000,000 5.10% notes due 2022 under the MTN Programme.
Koh Brothers and Heeton Holdings: Acted for Koh Brothers Group and Heeton Holdings Limited in the sale of their joint venture, Buildhome Pte Ltd, which developed and owned the development known as The Lumos at 9 Leonie Hill in Singapore. A balance of 36 residential units remains unsold in the development. The sale consideration of S$41.6 million was arrived at with reference to the unaudited financial statements of Buildhome as at 28 February 2017 based on an agreed value of S$185.6 million for The Lumos. Part of the consideration was a cash payment of S$30 million paid equally to Koh Brothers Development Pte Ltd and Heeton Land Pte Ltd (as vendors) on completion, with the remaining S$11.6 million deferred to after completion and novated to the shareholders of the purchaser, Central Core Pte Ltd. On completion, Buildhome refinanced the property with its existing lender. In addition, as part of the transaction consideration, Koh Brothers Development and Heeton Land agreed to convert their outstanding shareholders' loans to Buildhome, aggregating S$36 million, into a three-year promissory note bearing interest at 5 per cent per annum.
Duty Free International (DFI): Advising Duty Free International, a Singapore Stock Exchange main board listed company and the largest multi-channel duty free and duty paid retailing group in Malaysia, on its listed 2-for-5 bonus issue of warrants which have an exercise price of S$0.43 each. DFI will use the proceeds from exercise to support its business activities and operations, as well as possible renovation and upgrading of its duty free outlets. A total of 477.7 million warrants were issued and should start trading soon. The warrants are exercisable up to 5 years from the date of issuance, a special feature, as most warrants tend to have 3 years to expiry. The estimated gross proceeds, assuming full exercise of the warrants, will be approximately S$211 million.
- Also advised DFI in a series of share placement exercises to institutional (including Affin Hwang Asset Management Bhd) and private investors. The placements raised proceeds totalling S$43.71 million.
- Previously DFI acted in the sale by Duty Free International Limited of up to 25% equity interest in DFZ Capital Bhd (DFZ) to Gebr. Heinemann’s subsidiary, Heinemann Asia Pacific Pte. Ltd (deal valued at EUR52.21 million).
- Represented DFI in the transfer of its listing from Catalist to the Main Board of the SGX-ST.
- Also advised on DFI’s investment in Brand Connect Holding Pte. Ltd. (Brand Connect). DFI's strong financial standing and financial backing to the venture will allow Brand Connect, founded in 2014, to complete the development of direct importation and brand management organizations in Southeast Asian countries, and create a distribution and brand building agency to meet the needs of global alcohol beverage brand owners.

Star Media Group Bhd: Acting as Singapore counsel to Star Media Group Bhd in the sale of its 52.21% stake in Cityneon Holdings Limited to Lucrum 1 Investment Limited for a disposal cash consideration of S$115,612,731 or equivalent to S$0.90 per Cityneon share. The sale is conditional on Star Media shareholders’ approval to be obtained. Pending completion, the deposit paid by Lucrum 1 on signing, of US$17 million, is being held by Dentons Rodyk as escrow agent. The disposal will enable Star Media to unlock its investment in Cityneon at a price-to-book ratio of 3.18 times, and concentrate on expansion of Star Media’s primary business segments, namely, print and digital, broadcasting, event, exhibition, interior and thematic, and television channel. Execution of the share sale agreement triggered a pre-conditional mandatory general offer by Lucrum 1 for all the shares of Cityneon that are not already owned or agreed to be purchased.
Koh Brothers Eco Engineering Limited (KBEE): Advising Koh Brothers Eco Engineering Limited (KBEE), a Singapore Exchange (SGX-ST) listed company on its renounceable non-underwritten 2-for-5 rights issue, with free detachable warrants also listed on the SGX-ST. The warrants have an exercise period of four years, and tiered exercise prices during the exercise period. Estimated gross proceeds from full subscription of the rights shares and full exercise of the warrants is approximately S$50 million. Also advised Koh Brothers Group, which owns a 64.59% stake in KBEE, in its irrevocable undertaking to subscribe for its rights entitlement in line with the terms and conditions of the issue.
Pollux Properties Ltd (PPL): Advising listed Pollux Properties Ltd (PPL) on its acquisition of a property investment group which owns a collection of prime commercial and residential properties in Singapore. These properties included the iconic MacDonald House (a Singapore national monument). Although the acquisition was initially classified as a very substantial acquisition under Catalist rules, the team assisted PPL to obtain the necessary waivers from the Singapore Exchange for the transaction to proceed as a major transaction cum interested person transaction. The purchase consideration of approximately S$200 million was satisfied by PPL issuing 2,132,352,941 new shares to the vendor.
Canal+: Advising Canal+ on a joint venture with Myanmar’s Forever group, to create a pay TV service in Myanmar. Canal+ and Forever group aim to jointly create a major player in the Myanmar audiovisual market in the coming years, addressing a growing market with about 12 million homes identified as a possible target market.
Axima Australia Pty Ltd: Acting for Yang Kee Logistics in the $34 million acquisition of Australian-based Axima, a key player in Australia’s third party logistics market. Axima, a privately owned and operated integrated supply chain business founded 25 years ago in Australia, is strong in the retail sector and boosts a presence in Australia’s eastern seaboard as well as its key trade lanes of HK, China and the US. The acquisition is expected to boast Yang Kee Logistics’ revenue by $150 million. The acquisition was facilitated by International Enterprise (IE) Singapore.
Yang Kee Logistics and LOGOS SE Asia: Acting for Yang Kee Logistics in its strategic partnership with LOGOS Property Group via sale of a stake in two Singapore logistics properties. Yang Kee owns warehouses in Tuas South and Jurong Pier with more than 900,000 sq ft of net lettable area. Also acted for LOGOS in the set up and launch of its initial investment venture, LOGOS Southeast Asia Venture, formed with an initial commitment of S$150 million from Ivanhoé Cambridge with the strategy of owning and developing high-quality, modern industrial and logistics properties located in key Southeast Asian markets. Also led the team representing the joint venture company in the master lease arrangements for the proposed five-level ramp up warehouse in Tuas South at an expected cost of S$150 million, a first for LOGOS in South-east Asia.
Heeton Holdings Limited: Acting for Heeton Holdings Limited in the disposal of its entire interest in iLiv@Grange through the sale of its wholly owned subsidiary Heeton Residence Pte Ltd which in turn owns 100% interest in Heeton Realty Pte Ltd which developed the 30-unit freehold project, a deal which valued the 16-storey project on an en-bloc basis at S$95 million. The sale consideration included S$21 million for the transfer of a shareholder’s loan which was partially discharged by subscription proceeds of S$4 million junior notes. Heeton Holdings re-participated in S$4 million senior notes in Heeton Realty as part of the transaction.
Tee Land Limited: Acting for Tee Land Limited in its purchase of a 12,930 sq ft freehold site at 241 Pasir Panjang Road held by a subsidiary of Ley Choon Group Holdings for S$11.5 million as part of Ley Choon’s disposal of non-core assets under its debt restructuring agreement.
British & Malayan Trustee Trustees Limited: Acting for Nyalas Rubber Estates Limited in a mandatory general cash offer by its subsidiary, Emerald-Hill Investments Pte Ltd, for all the shares of British & Malayan Trustee Trustees Limited (BMT) other than those already owned or controlled by the offeror at an offer price of S$2.36 per share. She also acted for Nyalas in obtaining the Monetary Authority of Singapore’s approval for Nyalas and its associates to be 50% controller for the purposes of the Trust Companies Act. Nyalas is a palm oil producer and investment vehicle controlled by the Lee family that also holds stakes in Malaysia-listed Kuchai Development and Kluang Rubber. BMT is the oldest and only SGX-listed trust company. Control over BMT had changed hands to the Lee family from the Spinolas, a prominent European family that can trace its roots back to the Middle Ages. Valerie advised the Spinola family in the acquisition of their 43.05% stake in, and the takeover offer for, BMT in 2009.
British & Malayan Trustee Trustees Limited: Acted for British & Malayan Holdings Limited in the acquisition of a 35% stake in the PreceptsGroup International Pte Ltd (PGI) group, which is engaged in the wealth succession business in the mass affluent to high net-worth sector. PGI’s business is in wills and estate planning and trust administration, and PGI also provides the platform for estate planning practitioners who are accredited with AEPP mark and designation.
Otto Marine Limited: Acting for Otto Marine Limited in the voluntary delisting pursuant to Rule 1307 of the Listing Manual. The delisting was subject to the consent of holders of S$70 million 7% fixed rate notes due 2016 comprised in Series 002 issued under a S$500 million multi-currency term note programme established and guaranteed by Otto Marine Limited, in a consent solicitation exercise by the issuer, Otto Marine Services Pte Ltd, which obtained noteholders’ approval for the postponement of the maturity date and waivers/amendments of financial and other covenants. She also led the team representing the issuer and guarantor in the consent solicitation exercise.
CCL Industries Inc: Acting for CCL Industries Inc. in 2016 in its acquisition of Zephyr Company (Private Limited) and two Malaysian subsidiaries in Penang and Johor for C$39 million. Zephyr is a leading label converter focused on customers in the electronics industry with sales of C$36 million in 2015. CCL is a world leader in specialty label packaging solutions for global corporations, small businesses and consumers.
CapitaLand: Acting for CapitaLand as lead partner in its joint venture investment in the consortium (which included a Temasek unit, Singbridge Holdings) which successfully tendered for the Chao Tian Men site (a prime site for a landmark mixed development in Chongqing, China) at a tender price of RMB 6.5 billion (US$1.02 billion). The RMB 21.1 billion (S$4.1 billion) development project will be CapitaLand's largest development in China.
CapitaLand Commercial Limited: Acting for CapitaLand Commercial Limited (CCT) in the joint bid by CapitaMalls Asia Limited, CapitaMall Trust (through its trustee, HSBC Trust Services) and CapitaLand, which won the tender for the Boon Lay Way Site to the URA, with a top bid of S$969 million in the URA tender of the white site at Boon Lay Way, Singapore, which was developed as a mixed retail-office development. She advised CCT on legal documentation which included the Heads of Terms Agreement, the Joint Venture Agreement, Deed of Trust constituting the Infinity Office Trust and the Deed of Trust constituting the Infinity Mall Trust.
Mercatus Co-operative Limited: Acting as lead partner for Mercatus Co-operative Ltd’s purchase of 50% stake in nex shopping mall from a Pramerica Asia fund, which valued the Serangoon-located shopping mall at S$1.65 billion, cited in Business Times as possibly the biggest property investment deal of 2012.
Yangzijiang Shipbuilding (Holdings) Ltd IPO: Acting as legal advisers to Yangzijiang Shipbuilding (Holdings) Ltd as to Singaporean law in a Rule 144A global offering and listing on the SGX-ST, raising S$1 billion, Singapore's largest IPO in 2007.
OUE Limited: Acting as lead partner for Overseas Union Enterprise Limited’s S$870.5 million acquisition of DBS Towers 1 and 2 (now known as OUE Downtown) from a Goldman Sachs real estate fund. Also acted for the issuer in the S$750 million syndicated loan facility and S$300 million bond issue to finance the acquisition.
Commerz Real Investmentgesellschaft mBH: Acting as lead partner for Commerz Real Investmentgesellschaft mBH in the sale of 50% shareholding interest in CG-78 Shenton Way Singapore Pte Ltd which owns 78 Shenton Way to (and joint venture with) a property fund managed by a Keppel Land unit. The deal was reported in Finance Monthly. The transaction completed in September 2012 and valued 78 Shenton Way at S$608 million (or S$1,686 per sq. ft.) on net lettable area of about 360,500 sq. ft. In 2016, she acted for Commerz Real Investmentgesellschaft mbH for the account of hausInvest to complete the sale of the remaining 50% share interest in 78 Shenton Way to a property fund managed by Alpha Investment Partners (which is part of Keppel Corporation) which priced 78 Shenton Way property i.e. 100% interest at about S$603 million or S$1,665 per square foot on its total net lettable area of 362,199 sq. ft.
Solicitors to Issue Managers, Global Coordinators and Bookrunners: Acting as Solicitors to the joint issue managers, joint global co-ordinators, joint book runners and joint underwriters (namely, United Overseas Bank Ltd, UOB Kay Hian Private Limited, DBS Bank Ltd and Oversea-Chinese Banking Corporation Ltd) in the SGX Mainboard listing and IPO of Pacific Radiance Ltd, a Singapore based offshore marine group. The IPO, priced at S$154.7 million, valued the company at S$653.2 million.
CapitaCommercial Trust: Acting for CapitaCommercial Trust in its S$430 million acquisition of FirstOffice Pte Ltd which holds Twenty Anson, a Grade A office building, from LaSalle Investment Management and Lum Chang Development Group.
CapitaLand: Acting for CapitaLand in what is a first for a Grade A building, in its partnership via a joint venture agreement with Collective Works to transform the entire 12th floor of Capital Tower, spanning 22,000 sq. ft. into a premium, high-performance co-working space, which can potentially house up to 250 companies. Collective Works will manage the co-working space on behalf of the partnership.
CapitaLand: Acting for CapitaLand in its S$91.8 million acquisition of the Big Orange self-storage business from Invista Real Estate International Holdings (Cayman) Limited, including the business of managing and operating self-storage facilities carried on by Big Orange Self Storage Singapore Pte Ltd. CapitaLand operates its self-storage business through the ‘Storhub’ brand and became the largest self-storage company with the widest local network in Singapore with the acquisition.
OUE Limited: Acting as lead partner for Overseas Union Enterprise Ltd in its S$299.5 million acquisition of Crowne Plaza Changi Airport from LaSalle Asia Opportunity II SARL and LC Hotels Pte Ltd. The purchase of the 320-room hotel next to Changi Airport’s Terminal 3 was structured as a corporate real estate transaction, and won the Best Single Asset Transaction Award at the HICAP Conference in Hong Kong in 2011.
RECAP: Acting as lead partner for RECAP (Real Estate Capital Asia Partners), a fund in the series managed by SC Capital Partners, in a corporate real estate transaction for a bulk sale of 18 units (part of a stack of 20 units) in Paterson Suites for an undisclosed sum to a global investment and advisory firm.
LaSalle Group: Acting as lead partner for vendor fund (managed by LaSalle Investment Management) in a corporate real estate transaction for the bulk sale of 16 apartments at 111 Emerald Hill (a 40 unit freehold project developed by the LaSalle group) for a confidential sum to a buyer consortium.
OUE Limited: Acting as a lead partner for Overseas Union Enterprise Limited in its issue of $300 million secured fixed rate bonds due 2013. The bonds were listed on the SGX-ST. Standard Chartered Bank was the arranger and manager of the bond issue which was part of a S$750 million syndicated loan facility. The transaction won Deal of the Month in Finance Monthly.
TEE Land MTN: Acting as issuer counsel for TEE Land Limited in the establishment of its S$250 million multicurrency medium term note programme. United Overseas Bank Limited and DMG & Partners Securities Pte Ltd were appointed as joint lead arrangers and dealers with regard to the establishment of the programme. Also acted for TEE Land Limited in its inaugural issue of S$30 million 6.50 per cent notes due 2017 under its S$250 million multicurrency medium term note programme.
Tee International Limited: Acting as issuer counsel for Tee International Limited in the establishment of its S$350 million multicurrency medium term note programme. United Overseas Bank Limited was appointed the lead arranger and dealer with regard to the establishment of the programme. Acted for Tee International Limited in its 2 for 5 bonus warrants issue at an exercise price of $0.25. The warrants were listed and traded on the SGX-ST on 3 June 2014, raising S$49.3 million, assuming all the warrants are exercised.
Heeton Holdings Limited: Acting as issuer counsel for Heeton Holdings Limited in its establishment of its S$300 million multicurrency debt issuance programme. The programme was solely arranged by DBS Bank and DBS Trustee Ltd was appointed trustee of the holders of the notes. Under the programme, Heeton Holdings may issue senior or subordinated perpetual securities in various amounts and tenors. Also acted for Heeton Holdings on its inaugural issue of S$75 million 5.6% fixed rate notes due 2015 and its S$60 million 5.9% fixed rate Series 002 Notes due 2017. Also acted for Heeton Holdings in its bonus and warrant issue for 44,769,200 bonus shares and 44,769,200 bonus warrants on the basis of 1 bonus share with 1 bonus warrant for every 5 existing shares.
KSH Holdings Limited: Acting as issuer counsel for KSH Holdings Limited in the establishment of its S$300 million multicurrency medium term note programme, as well as for KSH Holdings’ inaugural issue of S$75 million 5.25% fixed rate notes due 2016. Also acted for KSH Holdings in its prior S$25 million 1% unconditional unsubordinated unsecured Convertible Notes issue.
Eu Yan Sang International Limited: Acting as issuer counsel for Eu Yan Sang International Ltd’s establishment of its S$300 million multicurrency medium term note programme and issue of S$75 million 4.10% notes due 2018 under the said programme. Also acted for Eu Yan Sang International in its previous issue of S$25 million Fixed Rate Notes Due 2016 and placement of 22 million warrants.
Abterra Ltd: Acting for Abterra Ltd in its proposed acquisition of commercial property via the purchase of an indirect 60% interest Yangpu Quanan Commercial Management Co., Ltd. (洋浦权安商业管理有限公司) for RMB352.4 million (S$78.9 million) based on an agreed property value of RMB600 million; with a call option to buy the remaining 40% interest for RMB234.9 million (S$52.6 million). The commercial properties comprise 69 units within four buildings located in Beijing Media Village (北京媒体村天畅园) situated within the Chao Yang District of Beijing, PRC.
Rich Tree Holdings Pte Ltd: Acting for Rich Tree Holdings Pte Ltd in the sale of its 60% interest in Rich Tree Land Pte Ltd to ASX-listed Asian American Group Limited (AAMG). Rich Tree Land had successfully tendered for a 5,446 sq. m. land parcel in the Zhuhai Free Trade Zone to develop a specialist ambulatory medical centre within the Zhuhai-Singapore Life Science Park. Rich Tree Land has appointed AAMG as the project lead manager for the development of the Zhuhai Singapore Life Science Park Phase 1. The development project is estimated to cost S$80 million.
International Housewares Retail Company Limited: Acting as Legal Advisers to the International Housewares Retail Company Limited as to Singapore Law in the global offering and listing of International Housewares Retail Company Limited (stock code 1373) on the Mainboard of Hong Kong Stock Exchange. The listing, which raised HK$411.5 million, was sponsored by BOC International who was also the Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager.
AmFraser Securities Pte Ltd and OCBC: Acting for AmFraser Securities Pte Ltd and Oversea-Chinese Banking Corporation Limited who were joint issue managers, underwriters and placement agents in the IPO, on the Singapore Exchange in 2010. The IPO raised S$46.5 million.
Vision Fame International Holding IPO: Advising the Company as to Singapore Law in the global offering and listing on the Main Board of the Stock Exchange of Hong Kong (Stock Code 1315). The IPO raised HK$41.5 million.
Vesta Investment Corporation FRN: Acting for the Administrator in the US$346 million floating rate notes issue in the securitization of Metropolitan and Scotts High Park condominium developed by the CapitaLand and Lippo Groups.
Channelview Investment Ltd: Acting for Channelview Investment Ltd in its acquisition and delisting of Beyonics Technology Limited by way of a scheme of arrangement. The deal was valued at S$139.2 million.
Sincere Watch Limited: Acting as Singapore counsel to Security Trustee for ABN Amro Bank NV, ING Bank NV and BNP Paribas in the sale of security interest in Sincere Watch Limited in 2009 to a consortium of buyers in a complex S$113 million which involved the default on loan by the previous acquirer, leading to the sale of the charged shares by the lenders and the lenders taking an equity stake in the Offeror.
Lehman Brothers Minibond: Acting for all 11 distributors (banks and stock brokering firms) in Singapore of the Lehman Brothers Minibond notes in their dealings with the Monetary Authority of Singapore and the trustee of the notes program. The Lehman Brothers Minibond notes case made local headlines after the collapse of Lehman Brothers, with about 8,000 noteholders having invested about S$500 million in the notes program.
Wayland Distressed Opportunities Fund I-C LLC: Acting for white knight Wayland Distressed Opportunities Fund I-C LLC in its investment in Zhongguo Jilong Limited (in judicial management) and in the subsequent Scheme of Arrangement in connection with the reverse listing of Changjiang Fertilizer Holdings Limited on the Singapore Exchange in 2009.
Elite KSB Holdings: Advising listed Elite KSB Holdings Limited in its divestment of core meat-processing business to Kendo Trading Pte Ltd (which is part of an integrated poultry breeding, farming, processing and marketing group) for S$62 million.
Onex Corporation: Acting as Singaporean counsel for Onex Corporation in its 2007 acquisition of the Health Group of Eastman Kodak Company in a transaction valued at approximately US$2.35 billion.
OMXH-listed Cargotec Corporation: Acting for a OMXH-listed Cargotec Corporation in its acquisition of Plimsoll Corporation Pte Ltd, a leader in deck machinery for the offshore oil and gas and marine industry in the Asia Pacific region, and in MacGregor Plimsoll's Offshore Services Pte Ltd's amalgamation exercise under Section 215 of the Companies Act in 2009.
GMG Holding (HK) Ltd and Panwell Pte Ltd: Acted for majority shareholders, GMG Holding (HK) Ltd and Panwell Pte Ltd, in the S$268 million voluntary conditional cash partial offer by Shanghai listed Sinochem International for 51% of natural rubber supplier, GMG Global Limited, in 2008.
Raffles United Pte Ltd: Acting for offeror Raffles United Pte Ltd who made a mandatory unconditional cash offer for all the remaining shares in Kian Ho Bearings Ltd following Raffles United’s acquisition of 73,192,000 shares in Kian Ho from crane supplier Tat Hong Holdings in a married deal. The offer was at 23.5 cents, the same price Raffles United purchased from Tat Hong Holdings.
Crown Prince Hotel: Acting in the S$300 million sale of Crown Hotel at Orchard (formerly the Crown Prince Hotel) to Park Hotel Group in 2005. Also represented the owners of the Crown Prince Hotel in its S$180 million debt deal with Farallon Capital Management in 2004.
Golden Flower Group: Acting for Golden Flower Group in the majority divestment of 55 Devonshire Road to an associate of Oxley Land, valued at $1,380 psf in 2010.
MGPA: Acting for private equity property group MGPA in its sale of 162 apartments in The Cascadia to Keppel Land’s Alpha Investment Partners, valued at about $1,280 to $1,300 psf.
Q&M Dental: Acting for Q&M Dental Group in its investments in dental clinic groups in Beijing (Aiyahsi) and Nanjing (Dan De) in 2010.
Singapore Shinei Sangyo: Acting for the owners in the S$82 million sale of Singapore Shinei Sangyo Pte Ltd to Solectron.
Titan Orient Lines: Acting as Singapore Counsel for Titan Orient Lines Pte Ltd’s US$55.1 million acquisition of Neptune Orient Lines Limited’s tanker business.
Golden Flower Group: Acting for Golden Flower Group in its S$40 million acquisition of a controlling stake in Shining Corporation Ltd, now known as Pollux Properties Ltd.
UOB Kay Hian Private Limited: Acting for UOB Kay Hian Private Limited’s acquisitions of Millennium Securities Pte Ltd and the OUB Securities Pte Ltd’s stock-broking business in 2002.
GMR Coal Resources: Advising GMR Coal Resources Pte Ltd in the proposed reverse takeover transaction by United Fiber System Limited, to acquire from PT Dian Swastatika Sentosa Tbk and GMR Coal Resources Pte Ltd 96.99% of the share capital of PT Golden Energy Mines Tbk (an IDX-listed coal company), a deal worth S$2.24 billion.
Imperial Garden Villa & Hotel: Acting for KSH Holdings Ltd, Lian Beng Group Ltd and Heeton Holdings Ltd in their joint venture investment in Cambodia, which has plans to redevelop the Imperial Garden Villa & Hotel on the 15,882 sq. m plot of land at Khan Daun Penh, Phnom Penh. Also represented the Singapore joint venture partners in their subscription for exchangeable bonds to fund the acquisition. The purchase consideration for the land and hotel was US$64 million.
Global Active Limited: Acting for delisting of Global Active Limited in connection with the Exit Offer by OSIM International Ltd, in 2005. Global Active Limited owns the General Nutrition Center franchise in Singapore, Malaysia, Brunei and certain US military and naval bases in Japan and Korea. The company retails and distributes nutraceutical products which include supplements, vitamins, minerals, herbs and functional foods.

Recognition

The Legal 500 Asia-Pacific: Recognised as Recommended Lawyer in Capital Markets: Equity and Debt: Local Firms, 2025
The Legal 500 Asia Pacific: Mentioned as key lawyer in the area of Corporate and M&A: Domestic and Foreign, 2025
IFLR1000: Recognized in the Singapore IFLR1000 Women Leaders list, 2022/23 (32nd Edition) – 2024/25 (34th Edition)
IFLR1000: Recognized as a Highly Regarded Lawyer for Mergers and Acquisitions, 2011/12 (21st Edition) – 2013/14 (23rd Edition), 2015/16 (25th Edition) – 2024/25 (34th Edition)
Best Lawyers in Singapore: Recognized in the area of Corporate Law, 2021 – 2026
Chambers Asia Pacific: Leading Individual for Corporate/M&A: Domestic, 2013 – 2025
Chambers Global: Leading Individual for Corporate/M&A: Domestic, 2013 – 2025
Asia Pacific Legal 500: "Valerie Ong [is] recommended." – Asia Pacific Legal 500, 2013
Asialaw: Recognized as a Leading Lawyer in Corporate/M&A, 2014
Lawyer Monthly: Deal Maker of the Year, 2013
Expert Guides: Recognized as a leading international mergers and acquisitions lawyer for China, 2012, 2011
Lexology Index (formerly Who's Who Legal), 2008: Recognized in the Mergers & Acquisitions chapter
"Helpful and goes the extra mile. Reads the situation well. Really looks after her [Valerie] clients’ interests." – IFLR1000, 2023
“A very experienced lawyer, who is very dedicated to advancing her client’s position.” , “A very pragmatic lawyer who will make sure you are protected, but also give you the commercial standpoint.” – IFLR1000, 2020
“Valerie Ong is an accomplished practitioner with over two decades of experience providing assistance to clients with complex corporate transactions and restructurings. She handles deals in a range of sectors, including textiles, e-commerce and oil and gas.” – Chambers Asia Pacific, 2021
“Valerie Ong is noted for her work with property developers and funds on real estate acquisitions. With more than 25 years' experience under her belt, her expertise in corporate matters is broad” – Chambers Asia Pacific 2019, Corporate/M&A: Domestic: Singapore
“Valerie Ong offers over 25 years’ experience and is especially noted for her work on acquisitions in the real estate sector.” – Chambers Asia Pacific 2018, Corporate/M&A: Domestic: Singapore
“Concise and innovative solutions.”, “Excellent legal knowledge, commercial and pragmatic.” – IFLR1000, 2019
“[Valerie Ong] …knows her stuff,” … She’s very good in her area of work … she protects clients’ interests.She’ll go the extra mile for her client.” – IFLR1000 Leading Lawyer 2013
“…Valerie Ong is cited as a key corporate partner in the practice, handling M&A and capital markets. Highlights include advising Imperial South East Asia Investment, a joint venture vehicle set up for investment into Cambodia to redevelop the Imperial Garden Villa and Hotel” – Chambers Asia Pacific 2016, Corporate/M&A: Domestic: Singapore
“…Valerie Ong is an experienced practitioner who divides her time between M&A and capital markets work. She is known for her expertise in the real estate sector, where she has advised on numerous high-profile Singaporean and overseas developments.” - Chambers Global Guide 2015, Corporate/M&A: Domestic: Singapore
“…Valerie Ong is … a "very experienced lawyer, who is very dedicated to advancing her client's position." She has extensive experience in advising developers and funds on real estate acquisitions, both in Singapore and overseas.” – Chambers Asia Guide 2015, Corporate/M&A: Domestic: Singapore
According to sources, Valerie Ong is a "very pragmatic lawyer who will make sure you are protected, but also give you the commercial standpoint." – Chambers Asia Guide 2013, Corporate/M&A: Domestic: Singapore
"... Valerie Ong has been advising GMR Coal Resources on a high-profile reverse takeover announced by United Fiber System involving Indonesia's Golden Energy Mines" – Asialaw Profiles – Corporate/M&A, 2014
"Corporate partner Valerie Ong represented CapitalCommercial Trust Management and HSBC Institutional Trust as manager and trustee in its S$430 million acquisition of FirstOffice, which owns 20 Anson, a Grade A office building." – Asialaw, 2013
"... In a highlight deal on the banking side this year, corporate partner Valerie Ong... advised Overseas Union Enterprise in respect of a S$750 million transferable term loan facility with an embedded debt security conversion option." – Asialaw, 2012

Insights

"Bridge over troubled water – SGX’s proposed enhancements to the corporate restructuring and trading resumption framework," Dentons Rodyk Reporter Issue 03 (2024)
"Investing in Vietnam: Navigating the regulatory landscape," Dentons Rodyk Reporter Issue 03 (2024)
"Recent trends & developments in W&I insurance in the APAC M&A landscape," Dentons Rodyk Reporter Issue 02 (2023)
"Light at the end of the tunnel – A case study of a successful restructuring," Dentons Rodyk Reporter Issue 05 (2022)
"SPAC - Singapore's Placing Another Choice," Dentons Rodyk Reporter Issue 04 (2021)
"The right balance? The SGX’s proposed regulatory framework for SPACs,” Singapore Law Watch, JD Supra, Dentons Rodyk Reporter Issue 03 (2021)
"Spotlight on ASEAN - Re-opening the economy," Dentons Rodyk Reporter Issue 05 (2020)
"[COVID-19] Moves by SGX RegCo to aid listed companies," Dentons Rodyk Reporter Issue 04 (2020)
“M&A considerations: Navigating the COVID-19 outbreak,” Dentons Rodyk Reporter Issue 04 (2020)
“COVID-19 General Meetings,” Dentons Rodyk Reporter Issue 04 (2020)
“Debt Restructuring Amidst a Pandemic,” Dentons Rodyk Reporter Issue 04 (2020)
"Thailand Seminar," Dentons Rodyk Reporter Issue 03 (2019)
"Disclosures in corporate transactions: A comparison of the UK/Singapore and US approaches," Dentons Rodyk Reporter Issue 02 (2017)
"Raising The Ante Of Staying On The Mainboard - SGX Minimum Trading Price Comes Into Effect," Rodyk Reporter April 2015
"MAS Proposes Changes To Prospectus And Other Regulations", Rodyk Reporter June 2010
"China Lifts Road Block On Red Chip Listings," Rodyk Reporter December 2005
"Venture Funding in Singapore - Some Legal Issues," International Financial Law Review Private Equity and Venture Capital (International Financial Law Review, 2001)

Activities and Affiliations

Member, ASEAN Committee of the Singapore International Chamber of Commerce
Government Parliamentary Committee (GPC) for Finance, Trade and Industry Resource Panel
Independent Director, Sarine Technologies Ltd, the first Israeli company to list on the Singapore Exchange Securities Trading Limited (Main Board)
Past independent director of Chemical Industries (Far East) Limited and Sarine Technologies Ltd
Member, Income Tax Board of Review, 2004-2013
Past officer (membership and website) of the Closely Held and Growing Business Enterprises Committee of the International Bar Association

Presentations

Speaker and moderator, Dentons webinar co-hosted with the British Chamber of Commerce on COVID-19: Spotlight on ASEAN.
Speaker, Global Capital Flows Investment Briefing, hosted by PropertyEU during MIPIM 2017. She presented valuable insight on the European real estate market and its influence on Asian investors. During the event, panelists discussed how the last few years have seen a steady rise in cross-border transactions and foreign investor interest in European real estate, as well as new geopolitical challenges, and the growth of capital targeted at the real estate sector.
Organiser and Panelist, Dentons Rodyk Inaugural Myanmar Business Leaders' Summit - Yangon, June 1, 2016
Entrepreneurial Environment - What Makes The Difference?, October 22, 2014
The Road To An IPO : Which, When, How And Where?, June 7, 2013
M&A and Acquisition Financing, April 10, 2013
2013 & 10th Annual Mergers & Acquisitions In China Summit, January 17, 2013
Mergers & Acquisitions, S-Chips and the China Experience, June 27, 2012
Current Trends In M&A In Asia - Delistings And Relistings, February 1, 2012
Fund Raising for Family and Private Businesses in the Middle East, October 31, 2011
Present and Future Trends of CAFTA Trade In Goods, Services and Investment, September 26, 2011
Singapore Inbound M&A Process, Planning & Strategies, April 13, 2011
Mergers & Acquisitions - A South East Asian Perspective, February 1, 2011
Advising the Entrepreneur Who Seeks to Raise Capital - Pitching Interviews and Term Sheet Negotiations, October 4, 2010
Managing International M&A And Takeover Transactions, April 9, 2010
Cross-border Acquisitions By Private Enterprises In The Current Economic Environment: The Old Obstacles & New Opportunities, October 7, 2009
Corporate Governance As A Competitive Differentiator That Enhances Long-Term Shareholder Value, October 31, 2006
Developments In Corporate Compliance And Governance, June 21, 2006
Recent Amendments To The Securities & Futures Act, January 19, 2006

Prior and Present Employment

Senior Partner - Dentons Rodyk & Davidson LLP (formerly Rodyk & Davidson LLP), 2002 - present
HelenYeo & Partners, 1999 - 2002
Tan & Tan (now known as Tan Kok Quan Partnership), 1997 - 1999
KhattarWong, 1992 - 1997
Allen & Gledhill, 1988 - 1991

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Valerie Ong