Howard Cheam’s area of expertise is in corporate finance and mergers and acquisitions. He has been involved in many initial public offerings, both local and international, such as the initial public offerings by Eurosports Global Limited (Catalist Board), Gaylin Holdings Limited, China Minzhong Food Corporation Limited, China Energy Limited, China Sports International Limited, China Zaino International Limited and Li Heng Chemical Fibre Technologies Limited.
Howard has also been involved in various public merger and acquisition transactions where he has acted for the offeror, offeree or financial adviser. He is also active in cross-border merger and acquisition transactions, most recently, having acted as the lead counsel for various multinationals in Singapore-Myanmar transactions.
His experience also includes various fundraising exercises for listed and unlisted companies such as the issue of bond instruments, convertible instruments and placements. In addition, he handles general corporate and advisory work, such as joint ventures, trade transactions and investments.
Howard is also a specialist in corporate governance matters and is heavily involved in continuing sponsorship activities whereby he is a registered professional of two Singapore Exchange Ltd Catalist Board-listed companies, Medtecs International Corporation Limited and KLW Limited.
EXPERIENCE
Corporate Finance – IPO and RTO
Hong Kong
- Acted for Hon Corporation in its HK$288 million initial public offering and listing on Hong Kong Stock Exchange (GEM).
- Acted for FSM Holdings Limited in its HK$650 million initial public offering and listing on Hong Kong Stock Exchange.
- Acted for Republic Healthcare Limited in its HK$312 million initial public offering and listing on Hong Kong Stock Exchange (GEM).
- Acted for Indigo Star Holdings Limited in its HK$60 million initial public offering and listing on the Hong Kong Stock Exchange (GEM).
- Acted for GT Steel Construction Group Limited in its HK$84 million initial public offering and listing on the Hong Kong Stock Exchange (GEM).
- Acted for ZACD Group Limited in its HK$165 million initial public offering and listing on the Hong Kong Stock Exchange.
- Acted for Chuan Holdings Limited in its HK$253 million initial public offering and listing on the Hong Kong Stock Exchange.
- Acted for Cool Link (Holdings) Limited in its HK$82.5 million initial public offering and listing on the Hong Kong Stock Exchange (GEM).
- Acted for RMH Holdings Limited in its HK$72 million initial public offering and listing on the Hong Kong Stock Exchange (GEM).
Singapore
- Acted for Eurosports Global Limited in its S$23 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for China Minzhong Food Corporation Limited in its S$235 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for Li Heng Chemical Fibre Technologies Limited in its S$320 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for Gaylin Holdings Limited in its S$39 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for China Hongxing Sports Limited in its S$48 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for China Energy Limited in its S$206 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for China Sports International Limited in its S$80 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for China Zaino International Limited in its S$87 million initial public offering and listing on the Singapore Stock Exchange Trading Limited.
- Acted for DBS Bank the underwriter, in connection with the initial public offering and listing on SESDAQ of Kinergy Limited.
- Acted for OCBC Bank Limited the underwriter, in connection with the initial public offering and listing of UE E&C Limited.
- Acted for SM Summit Holdings Limited, as solicitors, in its acquisition of Centurion Dormitory by way of a reverse takeover.
Public Offers & Delistings
- Acted for C&P Holdings Pte Ltd (Offeror) in connection with its acquisition of a majority stake in the issued capital of CWT Distribution Limited, and its mandatory takeover offer in respect of CWT Distribution Limited.
- Acted for The Hongkong and Shanghai Banking Corporation Ltd, in its capacity as the Independent Financial Advisor (IFA) to Neptune Orient Lines Limited (“NOL”) in connection with the takeover offer of NOL by the Temasek group.
- Acted for Thinkpac Limited (Offeror) in connection with its acquisition of a majority stake in the issued capital of SM Summit Holdings Limited, and its mandatory takeover offer in respect of SM Summit Holdings Limited.
- Acted for Singapore Retail Group in its mandatory unconditional cash offer for Courts (Singapore) Limited.
- Acted for Purchasers (Offeror) in respect of the exit offer and delisting of Pakara Technologies Limited.
- Acted for Purchasers (Offeror) in respect of the exit offer and delisting of Centraland Limited.
- Acted for Purchasers (Offeror) in respect of the exit offer and delisting of Pine Agritech Limited.
- Acted for Issuer (Offeree) in respect of the exit offer and delisting of Synear Food Holdings Limited.
- Acted for Issuer (Offeree) in respect of the unconditional voluntary offer and delisting of Li Heng Chemical Fibres Limited.
Corporate Finance - General
- Acted for China Hongxing Sports Limited in the placement of 400 million shares at an issue price of S$1.18 raising an aggregate of approximately S$450 million.
- Acted for an investment fund in an investment of up to US$40 million by way of subscription of convertible bonds in a Singapore company involved in the development and/or sale of land parcels in the Asia Pacific region to petroleum companies for use as petrol kiosks.
- Acted for Lindeteves-Jacoberg Limited (“LJL”) in relation to its fund raising and debt restructuring exercise by way of an investment by ATB Austria Antriebstechnik AG of approximately S$25 million in LJL through a share subscription and scheme of arrangement between LJL and its creditor banks.
- Acted for a Company involved in the sale of land parcels to certain oil majors in relation to the issue of convertible bonds of up to US$50 million to investors.
- Acted for United Test and Assembly Center Ltd in a selective capital reduction exercise and proposed share buyback mandate.
- Acted for Pine Agritech Limited in the issue of CNY$2 billion in aggregate principal amount of U.S. dollar settled zero coupon convertible bonds.
- Acted for China Hongxing Sports Limited in the issue of US$100 million redeemable convertible preference shares.
Mergers & Acquisitions
- Acted for a Myanmar conglomerate, in connection of its asset disposal and joint venture with Wilmar International Limited in relation to the sugar business in Myanmar.
- Acted for a multinational food and beverage company, in its acquisition and joint venture in Myanmar with local conglomerate in relation to the soft drinks business.
- Acted for Swiss Re, as the Singapore counsel advising on the Singapore component, to its acquisition of GE Insurance Solutions, the fifth largest reinsurer worldwide, from General Electric Company in a global US$6.8 billion transaction.
Litigation / Arbitration
- Acted for Bangladesh Telecommunications Company, in an international arbitration conducted in Singapore in an action against a Malaysian telecommunications company, for breach of a joint venture agreement in a claim amounting to approximately US$200 million.
- Acted for the minority shareholder, in a minority oppression dispute involving the shareholders of a local construction company in a claim amounting to approximately S$10 million. Subsequent arbitration to resolve the dispute as to the valuation of the share of the minority shareholder in a buyout of the minority shareholder.
MEMBERSHIPS / DIRECTORSHIPS
- Volunteer, Criminal Legal Aid Scheme
- Registered Professional with the SGX-ST
- Former independent director of Edition Limited formerly known as Oniontech Limited (resigned in 2014), a company listed on the Catalist Board of the SGX-ST
- Director of Rajah & Tann Corporate Services Pte Ltd
- Registered Professional of SGX Catalist Board companies (i) Medtecs International Corporation Limited and (ii) KLW Limited
