Hamish Egan
Director, Head of Commercial Damages and Valuation

Hamish Egan is a Director and Head of Commercial Damages and Valuation at Perun Consultants. 

Hamish is a professional with more than 20 years of experience in accounting and finance and holds several highly regarded professional qualifications (Chartered Accountant, Chartered Financial Analyst (CFA) Charterholder, and Chartered Valuer and Appraiser (CVA)). For the last 13 years, Hamish has been based in Singapore, where he has been primarily specialising in forensic accounting and business valuations.

Hamish has significant business valuation experience for both contentious matters, often arising from shareholder or post - acquisition disputes, as well as for non-contentious matters, including for investment monitoring and financial reporting purposes. He also has in-depth experience in reviewing and developing valuation policies for investment funds.

He has extensive experience calculating commercial damages based on a loss of profits, principally arising from alleged breaches of contracts, and analysing complex accounting information.

Hamish has worked with clients from various sectors, including technology, construction, manufacturing, energy, mining, financial services, and other services. He has also worked with parties or in relation to investments or assets across Asia (including China, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam), Africa, and Europe.

Furthermore, in the realm of disputes resolution, Hamish has worked across multiple forums, including international arbitration (under ICC, UNCITRAL, SIAC and AIAC rules), court litigation, and mediation.

In his career, Hamish has been appointed as an expert witness on matters with disputed values of up to US$ 125 million. He has also assisted in the preparation of expert reports in relation to cases with disputed values of over US$ 1 billion.

During his time in Singapore, Hamish worked for the sovereign wealth fund of Singapore. He was involved in developing the firm-wide valuation policy and reviewing the internal and external valuations of private equity investments.

Prior to moving to Singapore, Hamish worked for two of the “big 4” accounting firms. There he gained experience in audit, valuation, and financial due diligence in relation to global (multi-billion dollar) mergers and acquisitions.

Representative engagements

• Appointed as the expert by a cement producer and distributor in an arbitration involving a claim for loss of profits due to an alleged breach of a construction contract in relation to a cement plant in East Asia.

• Appointed as the expert by a government in South Asia in a UNCITRAL arbitration involving a claim for loss of profits, and valuation of assets, in relation to an alleged breach of contract within the construction and hospitality sectors.

• Quantification of the financial impact, including loss of profits and additional finance costs, in relation to the construction delay of a power plant in Europe.

• Quantification of damages arising from the delayed completion and overspend in construction of a casino in Asia in proceedings before the Hong Kong Courts.

• Quantification of the damages in a SIAC arbitration arising from a breach of two contracts for the sale and purchase of gasoil in Taiwan between two commodity trading companies.

• Analysis of alleged loss of profits based on a profit-sharing agreement for a coal mine business in Indonesia.

• Analysis of loss of profits and valuation of a chain of restaurants in Indonesia as a result of alleged breaches of certain joint venture and cooperation agreements.

• Valuation of certain rights that a Claimant had under a Throughput Fee and Payment Agreement with another party in a major infrastructure asset in Indonesia.

• Estimation of loss of profits due to construction delays for a plant in China.

• Estimation of loss of profits due to an alleged breach of contract for a company in the education sector.

• Quantification of a claim that arose, inter alia, out of the termination of the construction contract and subsequent delay in construction.

• Appointed as valuation expert in a potential shareholder dispute involving a joint-venture business located in Hong Kong.

• Appointed as valuation expert in a shareholder disputed involving a consulting business located in Singapore.

• Valuation assessment in a family dispute involving potential oppression and involving the analysis of a proposed split of a vertically integrated group of companies into various permutations to allocate the group companies between the shareholders.

• Valuation for a shareholder dispute between a large e-commerce company and an Indian conglomerate focussed on physical retail stores. The dispute relates to an assessment of the impact on the value of the minority shareholders investment in an Indian company, arising from the actions of the majority shareholder.

• Valuation of two companies in the solar sector an SIAC arbitration. The dispute related to the breach of a share purchase agreement to acquire a solar cell manufacturing company and a research and development company, as the purchaser withdrew from the agreement without cause. Changing market conditions resulted in significant impacts on the companies.

• Valuation of a solar power plant business relating to a post-acquisition dispute and claim for damages arising from the acquisition and development of multiple solar parks across the United Kingdom. The matter is before the High Court of Justice Business and Property Courts of England and Wales Commercial Court (QBD).

• Quantification of damages within the energy sector in relation to the loss in value of failed power plant projects in East Africa in an arbitration under the rules of the International Centre for Settlement of Investment Disputes (Investor-State Dispute).

• Valuation of an offshore oil and gas field in North Africa in relation to a dispute between joint venture partners within the oil and gas (exploration and production) sector in an ICC arbitration. The work required a valuation of the field as a whole and an assessment of the value to the individual joint venture partners, to ascertain whether the development was economically viable (Investor-State Dispute).

• Valuation of a Saudi food delivery business in an DIFC-LCIA arbitration. The dispute related to claims for damages by the minority shareholder due to unfair prejudice by the majority shareholder, in breach of the shareholder agreement between the parties.

• Business valuation in relation to a dispute arising out of a project between parties that set up a joint venture to carry

  outconstructionworkinNigeriainanarbitrationundertherulesoftheLondonCourtofInternationalArbitration.

• Valuation of two Turkish electricity distribution and retail companies in a SIAC arbitration. The dispute related to the breach of a share purchase agreement as the Purchaser withdrew from the sale and purchase agreement.

• Valuation of a recruitment firm in an AIAC arbitration. The claims related to a post-acquisition dispute and an alleged devaluation in a company due to withheld information in breach of representations and warranties.

• Valuation of a group of Vietnamese media and broadcasting companies in a SIAC arbitration. The dispute related to claims by the majority shareholder that the minority shareholder, who managed the group, misappropriated business to competing companies which they owned.

• Valuation of shares in an Indonesian coal mining company in a SIAC arbitration. The dispute related to claims for damages arising from a failure to transfer shares, which stopped the development of a mining concession.

• Valuation of shares in a private company, forming part of matrimonial assets, which were the subject of divorce proceedings,

• Valuation advice in relation to a hotel business as part of a minority oppression case in Singapore,

• Valuation of a joint venture business in Malaysia resulting from an alleged breach of the joint venture agreement.

• Valuation of a private Singapore company that was previously the subject of a management buy-out.

• Valuation of shares in a company, considering various assets and investments in other companies, in accordance with a Deed of Settlement

• Valuation in the context of an in specie distribution of shares for a company to be wound up on just and equitable grounds.

• Valuation of the shares in companies taking into consideration an investigation into the past accounts and transactions of the companies and opining on whether another expert produced a fair valuation of the shares.

• Valuation of various assets for the purpose of a matrimonial property dispute (included listed shares, private shares,

  andotherassets).

• Valuation of a minority parcel of shares involving a company that produces a popular brand of music and audio equipment.

• Advice on the methodology that should be adopted by an independent valuation expert in contemplation of a valuation of certain shareholdings being the subject of a dispute and buyout of the shares.

• Advice on the valuation of shares following a default notice being triggered under the shareholders' agreement.

• Valuation advice in connection with a shareholder dispute involving a company in the dairy industry.

• Valuation of a popular Singapore restaurant business involved in a shareholder dispute.

• Valuation for the purpose of a mediation held in Thailand, in relation to a business subject to a shareholder dispute and a potential buy-out of the minority shareholder's shares.

• Valuation of shares in relation to a claim that a bank failed to take reasonable steps to obtain a proper price for the sale of shares pledged to it as collateral for a loan.

• Review of whether, from a macroeconomic perspective, changes in the prices of key commodities could have led to the cost escalation experienced in the construction industry, and whether these could be categorised as "extraordinary" or "unforeseeable".

• Review and analysis of potential costs savings, subject to a dispute, in relation to construction of a power plant in Southeast Asia.

• Review and analysis of documents relating to various companies, including analysis of journal entries made in the 1960's.

• Review of financial information including the review of significant impairment expenses accounting for a significant decrease in the value of the assets.

• Review of accounting issues and valuation of estate assets.

• Verification of contract revenues, and estimate of contract profits, in relation to a claim arising out of a breach of a joint venture agreement (under ICC arbitration rules).

Professional qualifications

• Chartered Accountant (Australia and New Zealand)

• Chartered Financial Analyst (CFA) Charterholder (Global)

• Chartered Valuer and Appraiser (CVA) (Singapore)

Languages

• English