Lun Chee Leong

About Chee Leong

Chee Leong graduated from the National University of Singapore with an LLB (Second Upper Honours) degree in 1995 and was placed on the Dean’s List. He was also awarded the Law Society Book Prize (for being one of the two candidates of sufficient merit in the examination) in 1992/93. He is fluent in English and Mandarin (oral and written).

Chee Leong joined Lee & Lee as an associate in 1996 and was made a partner of Lee & Lee in January 2002. He is currently appointed as senior partner and deputy head in the Corporate Department of Lee & Lee and is also a Commissioner for Oaths and a Notary Public.

Case Highlights

• Acted for the joint global coordinators and joint bookrunners in the listing of CDL Hospitality REIT and OUE Commercial REIT.

• Acted for Singapore Press Holdings in the sale of The Clementi Mall to SPH REIT for S$570 million.

• Acted for SPH REIT in obtaining a secured term loan facility of S$975.0 million.

• Acted for OUE H-REIT in obtaining a S$630.0 million financing package. 

• Acted for Indiabulls Properties Investment Trust, a business trust specialising in office spaces in India, in takeover offer by Grapene Limited in 2016 and Brenformexa Limited in 2017.

• Acted for subsidiaries of CapitaLand Limited (“CapitaLand”) in the divestment, through the divestment to Ascott Residence Trust of shareholding interests and a property sale, a total of 28 serviced residence properties for an aggregate sale consideration of S$969.6 million and the acquisition of a serviced residence property in China, known as Ascott Beijing for an aggregate purchase consideration of S$214.0 million.

• Acted for the manager of a Ascott Residence Trust in the disposal of Somerset Grand Cairhnill at S$3359 million and the acquisition of Ascott Raffles Place, Ascott Guangzhou and the new Carnhill residences at S$688.3 million.

• Acted for trustee of K-REIT Asia in the acquisition of Ocean Financial Centre at a value of more than S$2 billion.

• Acted for the trustee of Cambridge Industrial Trust, now known as ESR REIT, in numerous projects, including:

  • the acquisition of several properties, including 25 Pioneer Crescent, a 4-storey single user detached factory built-to-suit development, at a purchase price of S$15.0 million, 3 Tuas South Avenue 4 for S$15.0 million, 54 Serangoon North Avenue 4 for S$21.0 million

  • the establishment of a S$500,000,000 Multicurrency Medium Term Note Programme.

  • asset enhancement projects at 88 International Road and 30 Toh Guan Road at S$16 million and S$8.3 million respectively.

• Acted for RBC Investor Services Trust Singapore Limited in various regulatory and trust matters.

• Acted for a Singapore trustee in the establishment of a union private trust investing in listed fixed income investments, listed equities, listed commodities, listed real estate related (including sector-related) equities and advising the manager of the fund in respect of investments.

• Acted for Lippo-linked Gentle Care Pte. Ltd. for Healthway Medical Corporation Limited in a S$103 million offer;

• Acted for M1 Ltd (one of the leading telcos in Singapore) in the S$1.9 billion takeover offer by its controlling shareholders

• Acted for Biosensors International Group, Ltd. in the first privatisation exercise by the Citic group for S$1.1 billion, which was the first in Singapore of a main board listed company executed by way of amalgamation

• Acted for the Eu family, including Mr. Richard Eu (family of the late Dr. Richard K.M. Eu, founding chairman of Singapore Institute of Management), in a consortium involving a Temasek-linked subsidiary in takeover offer for Eu Yan San International Ltd

• Acted for the Eu family, (descended from Eu Tong Seng),  in its participation with Japan’s Mitsui & Co and Rohto Pharmaceutical in their acquisition of Eu Yan Sang International Ltd in a transaction valued at S$800 million

• Acted for Golden Star Group Limited in the successful mandatory unconditional offer for Novo Group Ltd., a public company with dual primary listings in Singapore and Hong Kong. The transaction is notable in that it had to comply with both Hong Kong and Singapore takeover codes

• Acted for Popular Holdings Limited (a leading book retailer and property developer in Singapore and Malaysia) in the voluntary conditional cash offer by Grand Apex Holdings Pte Ltd at a valuation of S$255 million

• Acted in the Deutsche Bank-led consortium’s takeover offer of Jaya Holdings Limited valuing the company at S$370.4 million

• Acted for Ascend Capital Limited in the partial takeover offer by for Wing Tai Holdings Limited (major property developer and garment retailer for Addidas, Uniqlo, G2000, Mango and Furla) for S$95 million

• Acted for Wheelock Properties (Singapore) Limited (a major property developer in Singapore) in respect of the takeover offer for Hotel Properties Limited (owner and operator of hotels such as Four Seasons Hotel, InterContinental Hotel and property developer and owner of luxury residential developments such as Tomlison Heights and Nassim Jade ) which valued Hotel Properties at S$2.1 billion 

• Acted for Cerebos Pacific Limited (a leading manufacturer of health supplements, food and coffee products, including Brand’s Essence of Chicken) in a voluntary delisting valuing the company at S$364.8 million

• Acted for Nobel Design Holdings Limited in the takeover offer by Grand Slam RF 18 Investments Pte. Ltd.

• Acted for GP Batteries International Limited (manufacturer of batteries and related products) in the voluntary offer by GP Industries Limited

• Acted for Indianbulls Properties Investment Trust in the takeover offers in 2016 and 2017

• Acted for shareholders of Tabsquare Pte. Ltd. in its acquisition by Delivery Hero SE, the owner of Foodpanda

• Acted for Viking Offshore and Marine Limited in the takeover offer by various individual buyers

• Acted for Koufu Group Limited (the operator of the Kofu and Gourmet Paradise chain of food halls) in a voluntary conditional offer that values the group at $425.8 million. 

• Acted for Memories (2022) Pte. Limited, a related company of First Mynamar Investment Public Company Limited (a listed blue-chip conglomerate in Myanmar) in the takeover offer for Memories Group Limited (a Myanmar hospitality business).

• Acted for Moya Holdings Asia limited in its delisting from the Official List of the SGX-ST.

• Acted for Isetan Singapore Limited (famous Japanese retail department store) in its privatisation by Japan’s Isetan Mitsukoshi, by way of scheme of arrangement under section 210 of the Companies Act, with a consideration of $7.20 per share.

• Acted for Dyna-Mac Holdings Ltd in the conditional voluntary takeover offer by Hanwha Ocean SG Holdings Pte. Ltd., which is part of the Hanwha Group, one of South Korea’s largest conglomerates, at a price of approximately S$790.6 million.

Publications

Chee Leong also writes extensively and amongst other writings, he has contributed to the following legal publications:

• Halsbury’s Laws of Singapore, Hire-Purchase since 2010 to 2023 reissues

• Halsbury’s Laws of Singapore, Commercial Law, Sale and Supply of Goods and Services, reissue 2018

• Woon’s Corporations Law: 

  • Chapter A (Preliminary),

  • Chapter B (Administration of Companies Act),

  • Chapter C (Constitution of Companies),

  • Chapter D (Constitution of Other Business Forms),

  • Chapter E (Investigations) (Chapters A, B and C: Issue 30, Chapters D & E, Issue 31),

  • Chapter J (Shareholder Action) and K (General) (Issue 37),

  • Chapter T (SGX Listing Manual: Mainboard Listing Rules) (Issue 2, 8, 15 and 33-34) and

  • Chapter U (Catalist Listing Rules) (Issue 27-28)

  • Currently working on Chapter I (Financial Statements and Audit)

• Selective Capital Reduction As A Delisting Method (link)

• Sgx Regco’s Public Consultation On The Facilitation Of Shareholder-Requisitioned Meetings (link)

• Privatisation of Companies and Delisting Options (link)

• Paciocco v Australia and New Zealand Banking Group Limited : [The Enforceability of Late Payment Fees] (link)

• Court of Appeal provides clarification on the concept of Reserve Management Powers of Shareholders (link)

• Decura IM Investments LLP v UBS AG, London Branch: [The Materiality Standard in Material Adverse Effect Clauses] (link)

• Recent Developments in Singapore Relating to Directors (link)

• UK Supreme Court refines the law on penalty clauses in Cavendish Square Holdings v El Makdessi (link)

Memberships & Directorships

Chee Leong is active in the business community and currently serves in the following positions:

• Lead Independent Director, Member of Audit Committee, Member of Nomination and Remuneration Committee of Trek2000 International Ltd, a company listed on the Singapore Exchange (SGX) and the inventor of the USB thumb drive.

• Director of Sabana Investment Partners Pte. Ltd., the shareholder of Sabana Real Estate Investment Management Pte. Ltd. which is the manager of Sabana Industrial REIT, listed on SGX.

• Company secretary of companies listed on the SGX, including Isetan (Singapore) Limited (retailer in Singapore), Prime US REIT (REIT specialising in commercial property in Singapore), Yoma Strategic Holdings Ltd (Myanmar conglomerate and property developer) and Old Chang Kee Ltd (renown heritage supplier of curry puffs) as well as leading private companies such as Want Want Holdings Ltd (manufacturer of Want Want rice cakes, snacks and beverages). 

• Member of the Audit Committee of Kong Meng San Phor Kark See Monastery, a registered charity in Singapore. Also advises other charitable organisations regarding governance regularly.