Valerie Ong

Practice Areas

Valerie Ong is Dentons’ Global Capital Industry Leader. She is a senior partner in the Singapore Corporate practice group. Valerie co-heads the Capital Markets practice and is the Singapore-Vietnam and Singapore-Australasia relationship partner. Her portfolio covers M&A and Capital Markets and she has extensive transactional and cross-border experience.

With decades of M&A cross-border experience, she has represented clients in significant deals in Asia. She is acting for Thomson Medical Group in the largest healthcare acquisition in South-east Asia, with the purchase of Vietnam’s biggest healthcare group, FV Hospital, for S$517.1 million (US$381.4 million). She also acted for Malaysian PETRONAS in its acquisition of M+, one of India’s largest rooftop solar power producers. She advised CapitaLand Limited on its investment in the consortium in a landmark mixed development in Chongqing, China. The RMB 21.1 billion (S$4.1 billion) project at the prime 987,943 square foot site in Chao Tian Men is reported to be CapitaLand's largest development in China.

Her Corporate Real Estate experience includes representing funds and property developers in some of the city’s largest transactions, including 71 Robinson Road (S$655 million) ▪ Manulife Building (S$555.5 million) ▪ Westgate (S$789.6 million for 70% stake) ▪ Jurong Point (S$2.2 billion) ▪ Funan (S$170.3 million) ▪ Bedok Mall (S$783.1 million) ▪ 78 Shenton Way (sale of 50% share interest to an Alpha fund, valued at S$608 million and prior to that, sale of 50% share interest for S$301.5 million) ▪ The Lumos (S$185.6 million) ▪ iLiv@Grange (S$95 million) ▪ nex shopping mall (purchase of 50% interest from a Pramerica fund for S$800+ million) ▪ Twenty Anson (S$430 million) ▪ Crowne Plaza Changi Airport (S$299.5 million, which won the HICAP award in Hong Kong) ▪ DBS Building Towers 1 and 2 (now known as OUE Downtown) (S$870.5 million) ▪ CapitaLand (S$91.8 million acquisition of the Big Orange self-storage business from Invista Real Estate). She also acted for CapitaLand in the joint venture which submitted the top bid of S$969 million in the URA tender of the white site at Boon Lay Way, Singapore.

In the residential sector, she acted for The Ascott Limited in the sale of the 230-unit Cavendish London and Ascott Kuningan serviced residence in Ciputra Jakarta, for a consideration of £116.3 million and US$40 million respectively, to CapitaLand Ascott REIT; in the sale of interests in properties in France, Japan, Vietnam, US and Australia, to Ascott Residence Trust for S$215.2 million; for a SC Capital Partners fund in the bulk sale of 18 units in Paterson Suites to Blackstone; and in the corporate sale of 111 Emerald Hill apartments developed by a LaSalle fund.

In Debt Capital Markets, she acted for Boustead Industrial Fund in the establishment of its S$1 billion notes programme (jointly arranged by DBS Bank and United Overseas Bank) as well as the QDS issue of S$55 million 7% Series 001 Notes due 2031. She also acted in the establishment of multicurrency medium term note (MTN) programmes for TEE Land Limited (S$250 million), Tee International Limited (S$350 million), Eu Yan Sang International Ltd (S$300 million), Heeton Holdings Limited (S$300 million multicurrency debt issuance programme) and KSH Holdings Limited (S$300 million). She acted in notes/bonds issuances by Koh Brothers Group Limited (S$70,000,000 5.10% notes due 2022), Eu Yan Sang International Ltd (S$75 million 4.10% notes due 2018), Heeton Holdings Ltd (S$75 million 5.6% fixed rate notes due 2015 and S$60 million 5.9% fixed rate Series 002 Notes due 2017), KSH Holdings Ltd (S$75 million 5.25% fixed rate notes issue due 2016) and TEE Land Limited’s inaugural issue of S$30 million 6.50 per cent notes due 2017. She represented Overseas Union Enterprise Limited in the S$300 million secured fixed rate listed bond issue. She also served as bank counsel in the S$113 million sale of their security interests in Sincere Watch Limited; and counsel to trustee and administrator in the US$346 million Vesta Investment Corporation Limited FRN issue (in the securitization of the Metropolitan and Scotts High Park condominium).

In the RIB (restructuring, insolvency and bankruptcy) sector, she has acted for SGX-listed Pacific Radiance Ltd in its multiple rounds of notes consent solicitation exercises in connection with its S$100 million 4.30% Notes due 2020 comprised in Series 001 issued under the company’s S$1 billion multicurrency debt issuance programme, as well as serving as Pacific Radiance’s counsel in its US$200+ million debt restructuring with ENAV Offshore Mexico S de RL de CV group.

In Equity Capital Markets, she has acted in more than 20 listings (including S-chips). Notably, she acted for Yangzijiang Shipbuilding (Holdings) Ltd in its global offering and listing on the Singapore Exchange (SGX) which raised almost S$1 billion and remains Singapore's largest S-chip IPO to date. Her other listings include International Housewares Retail Company Limited (HKSE stock code 1373), Global Palm Resources Holdings Ltd (SGX), Vision Fame International Holding Limited (HKSE), China Kangda Food Co Ltd (HKSE) and Asia Distribution Solutions Limited (AIM). She has advised in various capacities, including as solicitors to the invitation and as legal advisers to the issue managers, placement agents and underwriters, on the following SGX listings: ▪ Pacific Radiance Ltd ▪ Global Palm Resources Holdings Limited China ▪ Kangda Food Company Limited ▪ Yangzijiang Shipbuilding (Holdings) Ltd ▪ China Farm Equipment Limited ▪ OuHua Energy Holdings Ltd▪ Plastoform Holdings Limited ▪ Hoe Leong Corporation Ltd ▪ System Access Limited ▪ Gates Electronics Limited ▪SNF Corporation Ltd ▪ Elite KSB Holdings Limited ▪ Creative Master Bermuda Limited ▪ Heeton Holdings Limited ▪ Juken Technology Limited ▪ Norelco Centreline Limited ▪ Futuristic Image Builder Ltd ▪ MAE Engineering Ltd ▪ CWT Distribution Limited ▪ Fu Yu Corporation Ltd ▪ Heshe Holdings Limited.

Valerie serves on the ASEAN Interest Group of the Singapore International Chamber of Commerce, the Government Parliamentary Committee (GPC) for Finance, Trade and Industry Resource Panel, and has served on boards of SGX-listed companies.

Career

Senior Partner - Dentons Rodyk (2002 - present)

HelenYeo & Partners (1999 - 2002)

Tan & Tan (now Tan Kok Quan Partnership) (1997 - 1999)

KhattarWong (1992 - 1997)

Allen & Gledhill (1988 - 1991)

Professional Memberships

ASEAN Committee, Singapore International Chamber of Commerce

Government Parliamentary Committee for Finance, Trade and Industry Resource Panel

Member, Income Tax Board of Review 2004-2013

Publications

Recent trends & developments in W&I insurance in the APAC M&A landscape

Light at the end of the tunnel – A case study of a successful restructuring

SPAC - Singapore's Placing Another Choice

The right balance? The SGX’s proposed regulatory framework for SPACs

Spotlight on ASEAN - Re-opening the economy

[COVID-19] Moves by SGX RegCo to aid listed companies

M&A considerations: Navigating the COVID-19 outbreak

COVID-19 General Meetings

Debt Restructuring Amidst a Pandemic