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9 RAFFLES PLACE, #32-00 REPUBLIC PLAZA, SINGAPORE 048619, SINGAPORE
Tel:
Work +65 6713 0200
Fax:
Fax +65 6538 1311
Email:
Web:
www.straitslaw.com.sg

Lai Foong Chan

Tel:
Work 6713 0236
Email:
Straits Law Practice LLC

Work Department

Commercial and Corporate Finance, Real Estate, Banking & Finance

Position

Director

Career

Lai-Foong has continuously been in private practice since being admitted to the Singapore bar in 1993. Lai-Foong started her career handling real estate conveyancing, corporate and general litigation work, and as such, her practice is varied and broad based. Ever since joining Straits Law, she has been involved in providing advice on a range of commercial and corporate finance transactions matters, real estate matters, drafting of banking and loan documentation, both bi-lateral and syndicated, to MNC and listed companies in Singapore. She is often retained by foreign law firms and foreign banks as local counsel in relation to Singapore property related aspects in cross border transactions. She is a facilitator for the Singapore Institute of Legal Education (SILE) (Real Estate syllabus). She is also retained in the panel of lawyers for many of the Singapore branches of foreign banks, and advices them on a myriad of Singapore law related issues including banking, commercial contracts, regulatory compliance and general law. Lai Foong has a strong command of Mandarin and is able to read and write Chinese proficiently. She is also proficient in Cantonese and Hokkien dialects. She regularly advises and acts for Chinese clan and religious associations in Singapore.
Significant matters:

  1. Acted as Singapore counsel in refinancing transactions involving Singapore list co and Australian subsidiaries and their mortgage of Singapore assets. Loan value AUD67 Million.
  2. Acted for Singapore list co in their acquisition of JTC land and construction of their flagship building on the said land. Transaction value estimated at SGD38 Million
  3. Sale of shares in SPV which owns a commercial building at Clemenceau Avenue. Transaction value at SGD73 Million.
  4. Acquisition of Singapore properties by Indian banks.
  5. Acting as legal counsel for a Statutory Board in its negotiation and drafting of joint venture agreements with potential joint venture partners in the development of its premises in Jurong
  6. Sale and Purchase of manufacturing plants, factories and businesses on JTC owned land by foreign investment companies, SME and List Co companies.
  7. Purchase and mortgage of land for development into residential units
  8. Sale and acquisition of building premises for co-operatives, statutory boards, religious organisations, societies.
  9. Acted as Singapore counsel in drafting and negotiating loan security documentation for a QFB bank in relation to providing a syndicated senior term loan facility of USD 140 million to one of the largest shipping companies in the world, to purchase outstanding bonds from a Norwegian bond issuer and to provide refinancing of Singapore registered ship
  10. Acted as counsel for both landlord and tenant in the drafting and negotiation of lease agreements relating to HDB, JTC, URA and privately owned properties.

Languages

English, Mandarin, Cantonese, Hokkien


Singapore: Corporate and M&A

Local firms

Within: Local firms

At Straits Law Practice LLC, M Rajaram and recently promoted director Chan Lai Foong advised Wentworth Insurance Company on its S$7.5m acquisition of shares from Cosmic Insurance.

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Singapore: Dispute resolution

Local firms

Within: Local firms

Straits Law Practice LLC’s N Sreenivasan SC succeeded Suresh Nair as practice head, following Nair’s move to Advocatus Law LLP. In other developments, Sivakumar Murugaiyan joined from Premier Law LLC and the insurance litigation capabilities were bolstered following the firm’s recent merger with M Rama Law Corporation; M Ramasamy, NK Rajarh and associate director Ramesh Varathappan moved across. Other strengths of the practice include white-collar criminal defence, construction disputes and medical malpractice work. Chan Lai Foong and Ahmad Nizam Abbas were promoted to director.

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