Heng Loong CheongPartner
Heng Loong Cheong is a Partner in the Corporate team, based in DLA Piper's Hong Kong and Singapore offices. Heng's practice covers public and private mergers and acquisitions, complex corporate reorganisations and equity and debt capital markets transactions, with a particular emphasis on the emerging markets, natural resources, renewable energy, logistics, technology and financial services sectors.
Heng is Malaysian and prior to joining the firm in June 2012, he spent over 15 years in London and Hong Kong at London and New York headquartered international law firms focusing on M&A and complex corporate reorganisations and transactions. Heng has more than 10 years of relevant experience working on Malaysia related transactions and leads a team in Singapore that regularly acts on Malaysian deals so they have extensive experience working in this jurisdiction.
Heng is recognised as a leading Corporate / M&A lawyer, including most recently by Chambers Greater China Region who recognised him as a leading lawyer (Band 3) for Non-contentious Insurance practice in China (international firm).
- Advising an international Oil & Gas services provider on Petronas licensing requirements and its proposed joint venture with a local Malaysian party and other structuring options in Malaysia.
- Acting for a global mudlogging company in its sale of its South-East Asian mudlogging businesses in Hong Kong, Malaysia, Singapore and Thailand.
- Advising Fosun International on its RMB210.5m investment in Malaysia's well known restaurant chain, Secret Recipe, to become the second largest shareholder.
- Advising on the acquisition of shares of a Singapore subsidiary of a UK based target group which is a valve manufacturer operating in a variety of sectors including oil and gas. This is the first such investment by the Fosun Group into an overseas restaurant chain, and was its first investment in Malaysia.
- Advising one of the world's leading steel producers in its proposed steel production joint venture in Malaysia.
- Advising Qualitas Healthcare Corporation Berhad, Malaysia's largest private GP clinic chain in Malaysia with primary healthcare operations in Australia, Singapore and India, on its proposed initial public offering of shares in Malaysia. The transaction was managed by CIMB Group and Credit Suisse.
- Advising the Securities Commission Malaysia in the USD2.5bn takeover offer by Astro Holdings Sdn Bhd for Astro All Asia Networks plc.
- Advising Fosun and its partners in connection with a proposed investment in AIA, AIG’s primary life insurance subsidiary in Asia with operations in 15 geographical markets in the Asia region including Malaysia.
- Advising a listed Malaysian MNC with an international portfolio of property development projects, including in the UK, on its UK Bribery Act compliance, and policies and procedures.
- Advising a Malaysian MNC on compliance with the Hong Kong Code on Takeovers and Mergers.
- Advising Kerry Logistics on the acquisition of 75% of equity stake in a Singapore logistics company with a potential option to buy out and potential earn-out payment, with simultaneous disposal of 25% equity in Kerry Logistics' Singapore entity to the same Singapore logistics.
- Advising Kerry Logistics on the restructuring of its IFF operations in Singapore by acquiring the majority stakes in Transpeed Cargo (S) Pte. Ltd), a leading air freight company.
- Advising SingPost on an e-logistics company acquisition in the US including an investment in Jagged Peak, the US e-commerce logistics platform.
- Advising Quantium Solutions Holdings Pte. Ltd on its acquisition of a significant minority stake in Morning Express & Logistics Limited, a logistics document and parcel delivery service in Hong Kong, and on its acquisition of 50% of E Link Station Limited’s (which operates a parcel locker business where it acts as a collection point by receiving and storing parcels on behalf of its end customers) issued shares by way of subscription.
- Advising ARMZ, one of the world leaders in the uranium mining industry, on a Singapore joint venture with Stepnogorsk Mining & Chemical Complex and KazZinc.
- Advising SUAL Partners (a substantial shareholder) in connection with the Hong Kong listing of RUSAL (the world’s largest aluminium producer and the first Russian company to list on the Hong Kong Stock Exchange).
- Advising ArcelorMittal on the acquisition (from a subsidiary of Severstal), of three coal mines, associated mining licences and other related assets, all located in the Kemerovo Region of the Russian Federation, for USD720m.
- Advising AngloGold Ashanti (Johannesburg Stock Exchange listed) in its acquisition of a 29.9% stake in London AIM listed Trans-Siberian Gold plc, the holding company for Russian gold and silver mining assets in Asacha, Rodnikovoe (together with Asacha, in the Kamchatka Region of the Russian Federation) and Veduga (in the Krasnoyarsk Region of the Russian Federation).
- Advising a Chinese client on the proposed acquisition of copper mining assets in Kazakhstan.
- Advising a Chinese client on the proposed acquisition of Russian coking coal assets.
- Advising a China State sponsored investment fund in the proposed acquisition of a significant stake in a Toronto Stock Exchange listed company, with African copper and cobalt mining assets.
- Advising various international clients in their Indonesian mining /steel joint ventures with Indonesian partners.
- Advising various international clients on their entry into the Indonesian market, including on setup structure, regulatory approvals, and Indonesian employment law advice.
- Advising Photonic Energy A/S in connection with the settlement of joint venture and commercial (relating to OEM contracts for solar modules) disputes and the purchase of a 10% minority interest in relation to a Hong Kong subsidiary set up between a subsidiary of Photonic Energy A/S and Centrosolar Group AG (a solar energy company listed on the Frankfurt market).
- Advising Deutsche Bank Trust Company Americas as note trustee, DB Trustees (Hong Kong) Limited as offshore collateral agent, and Deutsche Bank AG, Hong Kong branch as account manager in the issuance by Star Energy Geothermal (Wayang Windu) Limited of USD350m in principal amount of 11.5% Senior Secured Notes due 2015.
- Advising Zynga Game Network Inc., one of the world's most popular social gaming companies, in a joint venture with Japan's SOFTBANK to develop and distribute social games across Japan.
- Advising eBay, the world's largest online marketplace, in a joint venture with Young Bae Ku, the founder of Gmarket, a leading e-commerce company in Korea. The joint venture focus is to grow Gmarket’s online marketplaces in Japan and Singapore and to expand across other select markets in Asia.
- Advising a leading distribution and global services company, in its proposed joint ventures with a leading retailer and distributor of mobile telecommunications and operator products in Indonesia, in relation to selling and distributing mobile devices on a wholesale basis, and other related value added services in Indonesia.
- Advising a leading distribution and global services company, in its proposed joint venture with a leading consumer marketing company of premier lifestyle brands and quality products in Vietnam, for the sale and distribution of mobile devices on a wholesale basis and related value added services in Vietnam, Myanmar, Laos and the Philippines.
- Advising a leading Chinese financial conglomerate on the acquisition of a credit insurance and factoring business in China by equity acquisition of the Singapore holding company.
- Advising Fosun on its 85% investment in Peak Re, a USD550m reinsurance start-up, with the International Finance Corporation as the minority 15% shareholder.
- Advising AXA on an intra-group portfolio transfer in Hong Kong of a book of life insurance business.
- Bahasa Melayu
- Chinese (Cantonese)
- Brasenose College, Oxford University, M.A., 2003
- School of Oriental and African Studies, University of London, M.A. China Area Studies (with Distinction), 1998
- The College of Law, (England & Wales), Postgraduate Diploma in Legal Practice, 1997
Brasenose College, Oxford University, B.A. Jurisprudence, 1996
- Heng Loong is recognised as a leading lawyer (Band 3) for Non-contentious Insurance practice in China (international firm) by Chambers Greater China Region 2022 - 2023.
- Heng Loong is endorsed as “Highly Regarded” lawyer for M&A in Hong Kong by IFLR1000 (2020 - 2022).
- Heng Loong is recognised in Legal500 Asia Pacific (2021) in the field of Corporate and M&A (Foreign Firms) in China.
- Heng Loong is recognised as a leading lawyer for China non-contentious insurance practice (international firm) by Chambers Asia Pacific 2021, where a client praises his “good balance between technical strength and commercial practicality”.
- Heng Loong is recognised as a leading lawyer for China non-contentious insurance practice (international firm) by Chambers Asia Pacific 2019, where a client said that “Cheong Heng Loong is a 'very driven and impressive lawyer' who is 'extremely personable, experienced and sharp, being able to understand issues and offer pragmatic advice".
- Heng Loong is recognised as a leading lawyer for China non-contentious insurance practice (international firm) by Chambers Asia Pacific 2018, the source said “He is a highly intelligent analytical individual who brings innovative solutions to resolving deal issues”.
- Legal500 Asia Pacific 2017 edition (Hong Kong: Insurance) notes client feedback that "Heng Loong Cheong is ‘practical, responsive and has excellent industry knowledge’".
- Hong Kong: Should you deregister or liquidate that subsidiary?, 28 June 2022
- "Insurance Sector Trends: Forecast for 2018 and 2017 Year End Review," Insurance Update, February 5, 2018
Memberships And Affiliations
- Non-official member of the Industry Advisory Committees of the Insurance Authority
- Law Society of Hong Kong
- Law Society of England and Wales
My latest insights
Webinar: Ripples of activity in stormy seas: six M&A trends in the insurance sector
26 October 2023 .1 minute read