Date Published: 4 May 2020
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.”
CNPLaw’s Corporate Finance – Capital Markets Lawyers
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. She is also rated as “Highly Regarded” and ranked as a “Distinguished Practitioner” for Capital Markets by IFLR1000 and Asialaw Leading Lawyers respectively for 2020.
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. In addition, he also focuses on Singapore and Hong Kong IPO-related legal due diligence.
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.
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.