02 Jul 2018
Islamic financing of S$120 million in relation to SOFITEL SO.
Corporate Real Estate partners Norman Ho and Gazalle Mok and Banking & Finance partner Cindy Quek acted for RHB Bank Berhad in an Islamic financing of S$120 million granted to the owner of luxury downtown hotel, SO Sofitel (“Hotel”), via commodity murabahah term financing facilities allowed under Shariah laws. The facilities were used for the purpose of refinancing existing facilities previously used in the acquisition of the Hotel, and a second tranche for working capital, all secured by a suite of securities including the mortgage of the Hotel, approved by the Shariah board.
06 Jun 2018
Acquisition of 21 Anderson Royal Oak Residence
Partners Norman Ho, Benjamin Tay, Tan Chon Beng and Senior Associates Mildred Kwok and Shane Ng acted for Far East Consortium International Limited in its acquisition of Highest Reach Investments Limited (“Target”) from Amber Investment Holding (Cayman) Limited. The Target, through its subsidiaries owns a freehold property known as 21 Anderson Royal Oak Residence, Singapore. The property comprises 34 residential units with a total ground floor area of 87,000 square feet and enjoys an unparalleled location close to Orchard Road, Singapore.
05 Jun 2018
Collective sale of Mayfair Gardens
Partner Norman Ho, supported by Associates Marco Low and Dexter Ye, acted in the collective sale of Mayfair Gardens, a residential development comprising 124 strata lots and situated at 2, 4, 6, 8, 10, 12 and 14 Rifle Range Road, Singapore, for a purchase consideration of S$311 million. The sale to Citrine Property Pte. Ltd., a wholly-owned subsidiary of Oxley Holdings Limited, garnered over 90% consensus amongst all the registered proprietors of the development, and involved the application to the Strata Titles Boards under the Land Titles (Strata) Act, with the sale sanctioned by the Board.
24 May 2018
Sale of non-drug coated Chocolate® PTCA Balloon Catheter and Glider® PTCA Balloon Catheter products and an option to purchase drug coated Coronary Balloon Catheter product known as Chocolate Heart™
Partner Danny Lim and Associate Tricia Teo are acting for QT Vascular Ltd. as Singapore counsel in its S$32.78 million sale of non-drug coated Chocolate® PTCA balloon catheter and Glider® PTCA balloon catheter products to Teleflex Incorporated and S$65.57 million option granted by QT Vascular for Teleflex to acquire its drug coated coronary balloon catheter product known as Chocolate Heart™. QT Vascular is engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases.