The Legal 500

Adnan Sundra & Low garners a good share of the capital markets work on offer, advising Maybank Investment Bank on RM300m Islamic bonds with detachable warrants and RM300m Islamic commercial paper and medium term note programme in a high-profile transaction. The team, which is led by Adrian Chee Meng Yang, attracts an enviable client base which includes DBS Bank and RHB Investment Bank.

The Zaid Ibrahim & Co capital market team is recognised as a force in the Malaysian market, attracting clients such as CIMB Bank Berhad and Axiata Berhad. Lynette Yeow, Lilian Liew, David Lee and Ahlan Nasri are leading names here, and 2009 saw the team advise Maybank on a renounceable rights issue, and an issuance of structured warrants by CIMB Bank Berhad.

Cheang & Ariff fields an impressive capital markets team, which features Tan Ming-li, Chong Wei Lung , Yoon Ming Sun and Yeat Soo Ching. Work handled is varied and complex, including acting for GMO Global on the restructuring of existing Islamic debt securities issues by the company.

Kadir, Andri & Partners offers a young yet prominent capital markets practice, which garners mandates from clients such as RHB Islamic Bank Berhad. 2009 highlights include advising CIMB Group on the acquisition of 15% equity interest in PT Bank Lippo, and its subsequent merger with Bank Niaga. E Sreesanthan, Tan Kong Yam and Saheran Suhendran are all recommended for experience in this area.

Skrine has strength on both the debt and equity side, and is experienced in structured products. With a good client base featuring a number of banks, the firm advised facility and security agents and lenders in three syndications in a complex cross-border deal. Cheng Kah Leng is the name of note here.

Clients strongly recommend Zul Rafique & Partners for its capital markets expertise. The firm had a strong year notwithstanding market conditions, having advised Axiata Group on its acquisition of interests in Idea Cellular, the divestment of its interests in Spice Communications and the subsequent merger between Spice and Idea, in a deal worth $1.6bn. Jerry Ong leads the team, which also features Loh Mei Mei, Zandra Tan, Kung Suan Im, Cathryn Chay and Lim Mun Lai.

The partners at Abdullah Chan are ‘attentive, experienced, and really know their stuff’. Highlights for the firm include advising RCE Marketing on the first ever ABS structure of securitisation of consumer loans receivables.Vincent Chan Siew Onn and Hamdi Abdullah are leading individuals.

Debt capital markets is Albar & Partners real area of expertise, and it is one of the market’s leading firms in this field. Lily Tan Chea Li and Chung Swee Loong lead the team, which frequently advises some of the leading Malaysian banking names on both Islamic and non-Islamic capital markets instruments. The team notably advised MIMB Investment Bank Berhad on the issuance of a 20 year subordinated medium term notes programme, valued at RM2bn. Clients praise the ‘responsible and dependable’ firm’s ‘acumen and in-depth knowledge’.

Chooi & Company is a well regarded outfit, and is recommended for its experience in flotations, fund management and listing work. The team, which includes the highly rated Chooi Mun Sou and Azman bin Othman Luk advised on the financing of the privatisation of a Malaysian public listed company.

Jeff Leong, Poon & Wong In Association with Deacons is recommended for its debt capital markets practice, which notably advised on a proposed RM1bn Musyarakah commercial paper and medium term notes programme established to finance construction contracts of a plc. James Wong is recommended.

Lee Hishammuddin Allen & Gledhill offers ‘very professional guidance, with excellent response times and great value’. Tay Weng Hwee leads the team, which is particularly skilled at debt restructuring work, having advised a number of local banks, including AmBank, CIMB Bank Berhad and Malayan Banking Berhad, in a debt restructuring scheme involving two syndicated term loans of RM700m and $240m. Ooi Bee Hong is ‘the tops, has an accurate and practical mind, and is a very lovely person’; an opinion ‘unanimously shared’.

Murad Yee Partnership offers ‘prompt responses, in depth legal knowledge and professionalism’ say clients. The team, which is led by Yee Fook Weng and Ahmad Murad Abdul Aziz, is increasingly experienced in this area, having advised on one of the few issues this year acting for the issuer in RM100m worth of Islamic bonds.

Shearn Delamore & Co is recognised as having a very solid debt capital markets group, which features Chen Lee Won, Tee Joe Lei and Fiona Sequerah. The firm’s client base is impressive, and includes Malayan Banking Berhad, Abu Dhabi Commercial Bank and BCHB Group.

Shook Lin & Bok has experience advising on Islamic bonds and capital market instruments, and Lai Wing Yong , Patricia David Saini, Hoh Kiat Ching and Kelvin Loh Hsien Han are all rated in this area. The firm is rated for having well balanced debt and equity experience.

Ronald HL Tan leads Tay & Partners’s well regarded debt capital markets offering. The past year was a strong one for the experienced team, which advised high quality clients such as Nestlé Malaysia on an Islamic bonds facility. Other highlights include acting on the IPO of an oil and gas company Handal Resources Berhad on Bursa Malaysia.

Wong & Partners has a good track record in this field, especially for advising global names, including R3 Capital Advisors on the $20m sale of secured convertible notes to Peninsular Gold. Azizul Adnan is the name of note here, after having lost former head of practice Christopher Lee in 2009.

Wong Beh & Toh is a skilled capital markets player, which is described as ‘technically good and capable of providing ad-hoc technical and sound advice promptly’ by clients. The team handled a significant level of listings involving Chinese companies, having advised a major Chinese company in an IPO and listing on the main board of Bursa Malaysia Securities Berhad. Wong Tat Chung, Patricia Toh Kim Lee and Cynthia Toh Mei Lee are leading names.