04 Mar 2015

Transfer of Shares in Flame Gold International Limited

Danny Lim, Chia Lee Fong, Zhang Rui and Caitlin Huang from the Capital Markets / M&A Practice Group acted as legal counsel in relation to the transfer of 84 ordinary shares of Flame Gold International Limited ("Flame Gold"), between Mr Ching Chiat Kwong and Mr Foo Sey Liang at an aggregate consideration of approximately S$16 million. Following the completion of the transfer, Mr Foo Sey Liang is the sole shareholder of Flame Gold.

Flame Gold is an investment holding company, which holds approximately 22.14% of the shares in the capital of HG Metal Manufacturing Limited, a company listed on the Mainboard of the Singapore Exchange Securities Trading Limited. HG Metal Manufacturing Limited is a premier steel stocklist and manufacturer located predominantly in Singapore, Brunei, Malaysia and Indonesia, and offers customised steel solutions for diversified industries including energy, transportation, marine, electronics and other industries.