CNPLaw LLP advised Axcelasia Inc. in its divestment of principal subsidiaries to the Hong Kong Tricor group, for a consideration of RM69.7 million

Deals and cases

 

CNPLaw LLP advised Axcelasia Inc. in its divestment of principal subsidiaries to the Hong Kong Tricor group, for a consideration of RM69.7 million


Date Published: 4 May 2020 

The Team Advising On The Transaction: Tan Min-Li, Jimmy Yap, Ge Xiaomeng and Timothy Tan. 


Need Legal Advice? Contact Min-Li and Jimmy


The Deal

 

CNPLaw LLP advised Axcelasia Inc., a company listed on the SGX-ST engaged in the provision of tax advisory and business consultancy services, in its divestment of principal subsidiaries to the Hong Kong Tricor group for a consideration of RM69.7 million. In connection with the proposed divestment, the majority shareholders of the company also gave irrevocable undertakings to vote in favour of the transaction at the extraordinary general meeting. The transaction was completed on 15 April 2020.

Commenting on the above transaction is Ms Tan Min-Li:

“This was a transaction which required us to work within a relatively tight timeframe during the Covid-19 pandemic and the fact that it involved several territories, with the company listed in Singapore but established in Labuan and its operations located in Malaysia being sold to a purchaser in Hong Kong made it essential for the team to work very efficiently and we are very happy to have been able to achieve a positive result for our clients.”

Get To Know The Team

 

CNPLaw’s Corporate Finance – Capital Markets Lawyers

Tan Min Li legal Partner at CNPLaw LLP image

Tan Min-Li

Partner

    Min-Li’s principal areas of expertise are in corporate and financial services. For 2018 and 2019, she was recognised as Singapore’s Top 100 private practice lawyers by Asia Business Law Journal. For 2021, She is rated as “Highly Regarded”, ranked as a “Distinguished Practitioner” and “Recommended” for Capital Markets by IFLR1000, Asialaw Leading Lawyers and The Legal 500 Asia Pacific respectively.

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    Jimmy Yap is a Partner at CNPLaw LLP. His main areas of practice for non-contentious work are Indonesia related corporate and commercial matters – such as investment into Indonesia, mergers & acquisitions, joint ventures, and franchising & licensing. In addition, he also focuses on Singapore and Hong Kong IPO-related legal due diligence.

    Jimmy Yap

    Partner

      Jimmy’s main areas of practice for non-contentious work are Indonesia-related corporate and commercial matters – such as investment into Indonesia, mergers & acquisitions, joint ventures, and franchising & licensing. For contentious matters, his primary focus is on Adjudication (Building and Construction) under the Security of Payment Act, and International Arbitration.

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      Ge Xiaomeng 1

      Ge Xiaomeng

      Partner

        Xiaomeng’s practice is focused on corporate finance, M&A and general corporate advisory. Before joining CNP, she started practice in a leading corporate law firm in Singapore. She is fluent in the Chinese language and has been involved in cross-border transactions in the PRC (including Hong Kong), Indonesia, Malaysia, Japan and Australia.

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        Timothy Tan Associate at CNPLaw

        Timothy Tan

          Associate
          Timothy is an Associate in the Corporate Finance practice group. His main areas of practice include corporate finance, equity capital markets, and general corporate advisory. He has been involved in preparing commercial agreements and general corporate contracts.

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          The Relevant Practice

           

          Corporate Finance – Capital Markets


          Having handled transactions for numerous local and foreign companies across Asia, extending across a wide range of businesses and industries, we have accumulated significant experience advising on an extensive range of corporate finance transactions.


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