Choi Chuan (Nicholas) Tan

Practice Areas

Corporate / M&A

Capital Markets (Equity)

China Desk

Career

Nicholas’ practice focus is on take-overs, mergers and acquisitions, joint ventures, foreign investments, joint ventures and corporate and commercial transactions. He has worked on transactions which straddles many industries specifically education, oil and gas, tobacco, healthcare, retail, telecommunication and property development. Nicholas regularly advises clients on privatisation and takeover of public companies. He also advises equity capital markets work including local and foreign IPOs.

Nicholas is consistently ranked in Chambers and Partners Global and Asia Pacific, Legal 500 Asia-Pacific, and the IFLR1000.

He is a member of the China Desk of the firm, who regularly advises and represents Chinese clients (e.g. state-owned entities) in their corporate transactions in Malaysia.

Some key clients are China Railway Engineering Corporation (M) Sdn. Bhd.,a subsidiary of China Railway Group Limited (Property and Construction), Sony Interactive Entertainment Worldwide Playstation Studios Malaysia Sdn. Bhd., a subsidiary of Sony Corporation (Media and Technology), Monash University Australia and Malaysia (Education), British Council (Education) and Scientex Berhad (Manufacturing and Property).

Chambers Asia-Pacific (2021 - 2023) “Band 4” lawyer in Corporate / M&A (Malaysia)

Professional Memberships

• Member, Malaysian Bar

• Member, International Bar Association (IBA)

• Member, China Enterprises Association in Malaysia

• Co-chair, ELA Global Mergers and Acquisition Group

• Member, Institute of Corporate Directors Malaysia (ICDM)

Publications

• Chambers Global Practice Guide 2019 Malaysia Corporate M&A: Q&A [co-author]

• Merits of shareholder activists in Malaysia: A legal perspective” [2019] 1 LNS(A)xli, by Current Law Journal

• Contributed to World Bank, Doing Business 2019 and 2020 – Protecting Minority Investors – Malaysia, 16th Edition and 17th Edition respectively, published by The World Bank Group

• Liberalisation of Distributive Trade Sector – Revised Guidelines by MDTCA on Retail Sector in Malaysia [2021] 1 MLJ cccxxx

• “Shareholders’ Right of inspection in private companies in Malaysia”, [2021] 1 LNS (A) xliii

Languages Spoken

English, Malay, Chinese

Experience

Mergers & Acquisitions

• Acted for China Railway Engineering Corporation (M) Sdn. Bhd. (CRECM), a shareholder in a consortium (i.e. IWH-CREC Sdn. Bhd.) in acquiring 60% shares in Bandar Malaysia Sdn. Bhd. from TRX City Sdn. Bhd. (a subsidiary of the Ministry of Finance, Malaysia) for RM7.41 billion. Bandar Malaysia is a major development project in Kuala Lumpur, Malaysia covering an area of approximately 2,000,000 sq. metres and will include a public transportation hub. CRECM is a subsidiary of China Railway Group Limited which was ranked 50th in 2020’s Fortune Global 500.

• Acted as the Malaysian counsel for Saudi Aramco (through White & Case, an instructing counsel), in its investment and joint venture with Petronas in the Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Malaysia. The total estimated value of the investment by Saudi Aramco is US$7 billion.

• In 2019/2020, Nicholas acted as the Malaysian counsel for Laureate Education, Inc., (a company listed on the NASDAQ stock market) (through DLA Piper, as the instructing counsel) in its sale of INTI Education group to HOPE Education Group (Hong Kong) Company Limited (a wholly-owned subsidiary of HKEX-listed Hope Education Group Co., Ltd) for approximately USD140 million.

• In 2019, Nicholas acted as the transaction counsel for a major acquisition of the shares in a private higher educational institution in Malaysia in 2019.

Take-overs

• Acted for Scientex Berhad in its privatization of Daibochi Berhad through its unconditional voluntary take-over offer to acquire the remaining shares and warrants in Daibochi Berhad in 2021. Upon completion of the take-over offer, Scientex Berhad holds 71.9% equity interest in Daibochi Berhad.

• In 2019, Nicholas advised Scientex Berhad in its acquisition of approximately 42% shares in Daibochi Berhad for approximately RM222.5 million and a conditional mandatory take-over offer where the client was required to acquire the remaining shares and warrants following the completion of the acquisition.

• During the same period, Nicholas also advised the joint offers in a conditional voluntary take-over offer to acquire the shares in LTKM Berhad (one of the leading chicken egg producers in Malaysia).

Equity Capital Markets

• Acting for Jentayu Sustainables Berhad (formerly known as Ipmuda Berhad) in its acquisition of a solar asset and 2 hydro assets in the renewable energy sector for a total consideration of RM187.4 million, which will result in a significant change of business direction or policy of Jentayu Sustainables Berhad in 2021. The acquisitions require the approvals of the Securities Commission Malaysia and Bursa Malaysia Securities Berhad. Further, we are also acting for Jentayu Sustainables Berhad on its corporate exercises announced on 18 June 2021, including amongst others, bonus issue of shares and warrants and rights issue of shares.

• Acting as solicitors to the issuer in respect of a proposed establishment and listing of a REIT on the Main Market of Bursa Malaysia.

Education

Awards