Isaac Lee | Managing Director

Finance

Isaac is a chartered accountant in the United Kingdom and Singapore with 15 years of commercial and professional services experience across Southeast Asia. He has acted on over USD5 billion of cross-border restructuring, turnaround management and M&A transactions.

His experience includes operational and financial restructurings, implementing operational transformation and turnaround management, performance improvements, strategic review and capital structure advisory, as well as both buy-side and sell-side M&A advisory.

Prior to being a consultant, he was an auditor with Big-4 audit firms with significant experience in leading large-scale audit engagements with a variety of publicly listed and multinational corporations within Asia.

Qualifications

Institute of SG Chartered Accountants (CA(Sg))
Association of Chartered Certified Accountants (ACCA)
BSc. (Hons), Oxford Brookes University

Career History

2020 – Present Director, Eliot & Luther
2020 – 2022 Group CFO, Kata.ai
2018 – 2020 Group CFO, Reliance Indonesia
2015 – 2019 Manager, Borelli Walsh
2014 – 2015 Assistant Manager, Deloitte
2012 – 2014 Senior Associate, PwC
2009 – 2012 Senior Associate, EY

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Project / Deal Experiences

• PT Trikomsel Oke Tbk - US$572m debt restructuring. Represented lenders and bondholders in the court-sanctioned PKPU restructuring, and subsequent led its debt-to-equity conversion, operational turnaround, and release from IDX share trading suspension.

• PT MNC Asia Holding Tbk - US$231m bond restructuring. Represented issuer in the landmark Singapore High Court case Re: PT MNC InvestamaT bk [2020] SGHC 149, a first foreign company to obtain the S211B moratorium and completed its restructuring via Singapore’s Scheme of Arrangement.

• OM Holdings Ltd – US$450m syndicated project financing and mezzanine debt. Led the consensual debt restructuring and operational turnaround across Singapore, Malaysia and Australia towards a successful >30% early debt repayment, share price spiked from A$0.07 to A$1.40 and market capitalisation increased from A$50m to A$1 billion.

• PT Waskita Beton Precast Tbk - US$539m debt restructuring. Represented the state-owned enterprise in the court-sanctioned PKPU restructuring, lead negotiations with creditors and stakeholders to secure sufficient vote in favour of the restructuring plan.

• PT Barata Indonesia Tbk - US$100m debt restructuring. Represented the state-owned enterprise on a last-minute appointment which led towards successfully secured 90% support of creditor to complete the restructuring within 30 days.

• PT Modern Sevel Indonesia – US$100m debt restructuring. Represented the borrower to secure creditors approval to wind down the business and to share net proceeds pari-passu from the asset sales after settling priority creditor’s debt.

• PT Bumi Resources Tbk on the restructuring of US$380m high-yield bonds through Indonesian Suspension of Payments (PKPU) proceedings and US Chapter 15 proceedings.

• PT Servotech Indonesia on the formulation and negotiation of a US$66m consensual debt restructuring combined with a fundraising process, facilitating creditor engagement and supporting the reinforcement of its capital structure while avoiding formal insolvency proceedings.

• PT Astrindo Nusantara Infrastruktur Tbk – co-led the buy-side advisory, deal negotiation, and financial due diligence in relation to its’ US$471m acquisition of PTT Mining Limited in a competitive process led by Credit Suisse for the Thailand state-owned PTT International Holdings Limited

• Senangpay – advised on the divestment of its payment gateway business in a competitive process which led to a bolt-on acquisition by DOKU, an investment portfolio of Swiss-based Apis Partner.

• Myanmar Distillery Company – acted on sell-side for its shareholders in running a competitive process with several bidders leading towards a US$300m divestment to TPG Capital.

• Zhu Zhou Kibing – advised on their acquisition of Samsung Corning Precision assets in Malaysia in a competitive bid ran by CIMB Investment Bank on behalf of Samsung Corning – which include due diligence, bidding strategy, and SPA negotiation.

• Abric Berhad – advised on the disposal of its security seal business to Essentra Plc, a UK-listed global leader in essential plastic and metal components for industrial application.

• Upeca Engineering – advised on the disposal of its oil & gas and aerospace precision engineering business in a competitive process, which led to its acquisition by Senior Plc, a UK-listed engineering solution provider.

• Loncin Industries – financial due diligence and financial reconstruction of the Target, which led towards financial modelling, valuation and deal structuring for the client in respect of their contemplated investment in a Singapore headquartered Indonesia based battery swap and bike rental business.

• Asaba – led the buy-side advisory and due diligence for its contemplated investments in PT Tera Data Indonesia Tbk, an IDX-listed manufacturer and wholesale trading of computer and electronic components.