DATO’ PHILIP CHAN HON KEONG Dato' Philip Chan Hon Keong
Partner, Corporate Division
 

CONTACT DETAILS:
Tel: 603 - 2081 3999 ext 728
Fax: 603 - 2094 3211
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  Overview  

Dato' Philip Chan Hon Keong began legal practice in 1990 and joined Skrine as a partner in the Corporate Division in January 2001. He is a graduate of the University of Sydney and holds degrees in Economics and Law.

Dato' Philip has practised both as an Advocate and a Solicitor. As an Advocate, he has handled matters at all levels of the judiciary right up to the Supreme Court, the forerunner of today’s Federal Court. The files handled include banking claims against guarantors, share trading matters.

As a Solicitor, he has been engaged to advice on matters including corporate banking matters, public floatation of companies including preparation of underwriting agreements and performing due diligence audits, commercial joint ventures, commercial property development etc.

Dato’ Philip has been ranked as a leading individual in Banking & Finance by Chambers Asia Pacific in 2012 & 2014, and nominated by Asialaw Profiles as a leading lawyer in 2013 - 2017. He has been endorsed by the International Financial Law Review (IFLR 1000) as a leading lawyer for Financial & Corporate Law in 2015, 2016 & 2017.

  Further Details  

Areas of Practice
Acquisitions, Mergers & Takeover, Asset Based Financing & Securitisation, Banking, Capital Markets, Corporate/ Debt Restructuring, Corporate Finance, Derivatives, Foreign Investments, Islamic Finance, Joint Ventures, Privatisation, Project Financing/ Venture Capital, Real Estate, Sports.

Qualifications

  • Advocate & Solicitor, High Court of Malaya
  • BEc / LLB, University of Sydney University

  Experience  

Banking & Finance

  • Acted for the financiers, Maybank Islamic Berhad and RHB Islamic Bank Berhad, in an Islamic commodity murabahah syndicated facility of RM1.084 billion. The facility was utilised by Tanjung Pinang Development Sdn Bhd (a subsidiary of Eastern & Oriental Bhd) to part-finance the reclamation and infrastructure works of the Seri Tanjung Pinang Phase 2 (STP2) project in Penang.[ALB Malaysian Debt Market Deal of the Year 2016]
  • Acted as Malaysian counsel to the lenders in relation to a syndicated term loan facility in an aggregate principal amount of up to USD450 million to Hercules Offshore, Inc (“Hercules”). Hercules is a US publicly-traded provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally.
  • Acted for an international oil and gas exploration and production company to assist with the amendment and restatements agreements in relation to their existing USD2.5 billion senior secured revolving borrowing base facility to incorporate additional assets into the facility. The maximum available amount of the existing facility was increased to up to USD4 billion in 2014 and we subsequently assisted in the subsequent amendment and restatement in 2016, which increased the available amount to up to USD5 billion.
  • Acted for an international oil and gas exploration and production company in relation to an up to USD100,000,000 (as such amount may be increased up to USD250,000,000) senior secured revolving borrowing base facility agreement between, inter alia, International Petroleum Corporation, Lundin Petroleum B.V and certain other affiliates of Lundin Petroleum B.V.
  • Acted for the Employees Provident Fund Board of Malaysia (“EPF”) in the £405,000,000 syndicated loan facilities arranged by Standard Chartered Bank to finance its investment in the Spire Healthcare Group. The investment involved a £700,000,000 acquisition of 12 hospital properties belonging to the Spire Healthcare Group spread across Britain and the subsequent sale and leaseback of such properties.
  • Acted for EPF in the £300,000,000 term loan facility arranged by Citigroup to finance its acquisition of 65 Fleet Street, London EC4, 40 Portman Square, London W1 and 1 Sheldon Square, London W2.
  • Acted for EPF in the £320,000,000 term loan facility arranged by Citigroup to finance its acquisition of 11/12 St. James’s Square, K2 Tower Bridge House, Reading International Business Park and The Bridge Unit.
  • Acted for EPF in relation to a syndicated multicurrency revolving credit facility of USD500,000,000 arranged by Standard Chartered Bank and granted to certain subsidiaries of EPF to finance and refinance EPF’s existing properties located in the UK, Europe, USA and Japan.
  • Acted for EPF in relation to a term loan facility of GBP259,000,000 arranged by Standard Chartered Bank and DBS Bank Ltd and granted to certain subsidiaries of EPF for refinancing the cost of acquisition of 19 retail and logistic properties in the UK (which included the West Denton Shopping Centre and Morrisons Store in Newcastle and The Isaac Newton Centre in Grantham). The purpose of the facility included the repayment of certain intercompany debt advances and payment for the fees, costs and expenses incurred in connection with the facility.
  • Acted for EPF in relation to a senior term loan facility of EUR94,000,000 arranged by United Overseas Bank Limited (Singapore) and granted to a subsidiary of EPF for financing the fees, costs and expenses incurred in connection with the facility, on-lending of intercompany loans and general corporate purposes.
  • Acted for EPF in relation to a £130,000,000 facility arranged by Citicorp International Limited and granted to a subsidiary of EPF for re-financing the property known as 40 Portman Square, London.
  • Acted as Malaysian counsel to the lenders in relation to syndicated term loan facilities of £246,000,000.00 to finance the acquisition of 10 Gresham Street and 88 Wood Street in London by the Malaysian Retirement Fund Incorporated/Kumpulan Wang Persaraan (Diperbadankan) (KWAP).
  • Acted for Maybank Islamic Berhad in relation to the conversion or refinancing of existing Combined Trade Lines Facilities, Overdraft, Short Term Revolving Credit and Multi Option Trade facilities granted to a local engineering company from conventional to Islamic facilities under the Shariah principle. The total amount of the converted or refinanced facilities was in excess of RM700,000,000.

Real Estate

  • Acted for HSBC Bank Malaysia Berhad in its acquisition of a piece of land in the Tun Razak Exchange (TRX) for its future headquarters. HSBC Malaysia invests RM1.06 billion for the acquisition of the land and building of its headquarters at the TRX’s international financial district.
  • Acted for EPF in a joint venture with Malaysian Resources Corp Bhd’s (MRCB) subsidiary Rukun Juang Sdn Bhd to develop a RM20.67bil mixed development project in Bukit Jalil, Kuala Lumpur. The land to be developed comprises the three parcels of land totalling 76.14 acres to be given by the Government to Rukun Juang as consideration for it undertaking the ongoing Kuala Lumpur Sports City privatisation project, which involves the refurbishment and upgrading of facilities at the National Sports Complex in Bukit Jalil. The shareholding of EPF and Rukun Juang in the joint-venture (JV) company is 80:20 respectively.
  • Acted for the Employees Provident Fund whereby UDA, the landowner, signed a development rights agreement worth RM1,000,000,000 with a Special Purpose Vehicle (“SPV”) to transform the 19.4 acres of land (previously the site of the Pudu Jail) into the Bukit Bintang City Centre. The SPV is called BBCC Sdn Bhd, the shareholding of which comprises of 40% UDA, 40% Eco World and 20% EPF. The potential gross value to be generated from the development is estimated to be worth RM8,000,000,000.
  • Acted for the Malaysian Communications and Multimedia Commission (MCMC) in the acquisition of Nu Tower 1, Grade A Office Tower in Kuala Lumpur Sentral CBD for RM283,000,000. Acted in all stages of negotiations, structuring, documenting and property due diligence as well as advising on all property related issues.
  • Acted for EPF in a joint venture for the development of a retail mall project under the Mitsui Shopping Park LaLaport brand at the new Bukit Bintang City Centre development (the former Pudu jail site). The project has an estimated gross development value of RM1.6 billion. Mitsui Fudosan Asia owns a 50% stake in the joint-venture (JV) company, MFBBCC Retail Mall Sdn Bhd, while the remaining 50% is owned by the shareholders of BBCC Development Sdn Bhd, namely, UDA, Eco World and EPF.
  • Acted for EPF in a joint venture with Eco World Development Group Berhad for the development of a 2,200-acre leasehold land in Ijok, Kuala Selangor. The shareholding of Eco World and EPF in the joint-venture (JV) company, Paragon Pinnacle Sdn Bhd, is 60:40 respectively. The gross development value from the development is estimated at RM15 billion over a 15-year period.
  • Acted for EPF in a joint venture with Eco World Development Group Berhad for the development of 375 acres of prime land in Batu Kawan, Penang. The shareholding of Eco World and EPF in the joint-venture (JV) company, Eco Horizon Sdn Bhd, is 60:40 respectively. The estimated combined gross development value of the two townships, Eco Horizon and Eco Sun, is estimated at RM7.76bil.
  • Acted for EPF in the sale of The Gurney Resort Hotel & Residences at a purchase price of RM160.1 million
  • Acted for EPF in the sale of The Northam All Suites Hotel at a purchase price of RM69 million. We also represented EPF in the settlement agreement with the Joint Management Body of the Northam Tower (“JMB”) and the Management Corporation of the Northam Tower (“MC”).
  • Acted for Employees Provident Fund in the acquisition by Plenitude Bhd’s wholly owned subsidiary, Plenitude International Sdn Bhd of the 259-suite hotel, known as the Gurney Resort Hotel and Residences in Penang, for the consideration of RM160,000,000.
  • Acted for the Employees Provident Fund in the sale of The Northam All Suite in Penang, a four star, 142 suite hotel with 453 car park bays as accessory parcels (“The Northam Hotel”) valued at RM56 million.

Others

  • Advised a public listed company (“PLC”) in a share sale and joint venture with one of the largest steel companies in the world.
  • Advised Special Administrators in relation to a reverse takeover of a PLC under special administration.
  • Advised white knights in the reverse takeover of a PLC.
  • Advised a PLC in relation to a bonus issue and transfer to Main Board.
  • Advised a PLC in relation to its Employee Share Option Scheme.
  • Advised a PLC in the issuance of warrants and subdivision of shares.

 
ACCOLADES & AWARDS

Skrine Retains Who’s Who Legal Accolade for Malaysia

On 15th May 2017, the Who’s Who Global Awards was held in London, United Kingdom and Skrine was conferred the Award:

Malaysia Law Firm of the Year 2017

Skrine previously received this Award in 2013, 2014, 2015 and 2016.

>> READ MORE

SKRINE Clinches Top Honours at ALB Malaysia Law Awards 2017

On 6th April 2017, the Asian Legal Business Malaysia Law Awards was held and SKRINE was named

Malaysia Law Firm of the Year 2017

SKRINE also bagged 5 other awards

>> READ MORE

Asialaw Profiles 2017

The Asialaw Profiles has ranked Skrine as Outstanding Firm and particularly highlighting the following practice areas:

Outstanding Firm

  • Competition & Antitrust
  • Corporate/M&A
  • Dispute Resolution
  • Energy & Natural Resources
  • Intellectual Property
  • IT, Telco & Media
  • Project & Infrastructure

>> READ MORE

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