The Legal 500

Adnan Sundra & Low’s reputable practice has experience of cross-border and domestic issuances, in both the debt and equity sectors. Its leading figures Deepak Sadasivan and Adrian Chee Meng Yang combine ‘strong technical expertise and good commercial perspective’. Recent work has centred on acting for issuers on debt financing, including a number of euro-denominated medium-term note programmes. It also acted for local telecoms operator Packet One Networks in a $100m share acquisition by South Korea’s SK Telecom. The practice was also local counsel to the banks on some of the biggest domestic IPOs in recent history: the listing of Malaysia Marine and Heavy Engineering, and of Petronas Chemicals.

Zaid Ibrahim & Co is well regarded for its specialist focus on debt issuances, with Lilian Liew, Chin Sook Kwan and Mohd Azura Nik leading on such financings. It recently acted for the arrangers on the landmark S$1.5bn sukuk by Khazanah Nasional, which was Singapore’s largest and longest-term sukuk issuance to date. The practice is also active in equity financing, despite Lynette Yeow’s move to Kadir, Andri & Partners. Gilbert Gan advised CIMB on the first CBBC issuance in South East Asia.

The team at Albar & Partners is ‘proactive and responsive to clients’ needs’, and ‘adopts a prudent yet practical approach to resolving issues’. Lily Tan Chea Li has deep experience of capital markets instruments and acted as local counsel to Petronas on the biggest IPO in Southeast Asia during 2010. Chung Swee Loong was instructed on notable conventional and Islamic issuances, representing the issuers on Telekom Malaysia’s RM2bn sukuk and KrisAssets Holdings’ RM300m convertible bonds issuance. The practice also advised Maybank as arranger of Senai-Desaru Expressway’s RM5bn-plus sukuk al-ijarah.

Providing ‘excellent service, with very good business knowledge’, Kadir, Andri & Partners has been advising on notable Islamic structures as well as conventional debt and equity issuances. Recent transactions include acting for the joint lead arrangers and advisers of Malaysia’s first sukuk al-amanah li al-istithmar (sukuk ALIm), worth RM1bn, and advising the arrangers of Malaysia Marine and Heavy Engineering’s RM2bn IPO. Tan Kong Yam is ‘technically very strong and provides sound advice’.

Zul Rafique & Partners is a recurring presence on benchmark transactions and is equally adept with conventional and Islamic structures. Loh Mei Mei was local counsel to joint arrangers Barclays, RBS and Standard Chartered on the first US dollar denominated senior bond issuance by a Malaysian bank, worth $300m. Mei also handled real estate-related financings, acting for the managing company of Singapore-based Starhill REIT on property disposals via an asset-backed securitisation. Jerry Ong advised RBS on the RM3.5bn fund-raising sukuk programme established by Kuwait-based Gulf Investment Corporation.

Cheang & Ariff focuses mainly on equity financing. Tan Ming-Li recently acted for domestic and foreign issuers on several IPOs, including China-based Yantai Fazenda Ouhua Winery’s offering on Bursa Malaysia as well as on SP Setia’s global private placement.

Jeff Leong, Poon & Wong advises Malaysian and Chinese companies on equity capital raisings on Bursa Malaysia. Jeff Leong and Kenny Poon lead ongoing advice to public listed companies and on IPOs. James Wong advises financiers and borrowers on both conventional and Islamic debt securities.

Tay & Partners’ Ronald Tan focuses on equity and debt issuances, and is recommended along with managing partner Tay Beng Chai. The practice recently acted for local and international banks on various listings and issuances, including Islamic finance instruments.

Wong & Partners handles conventional and Islamic transactions across both debt and 
equity markets, with clients including CIMB, Maybank and OCBC. Mark Lim and Azizul 
Adnan advised on various sharia-compliant debt issuances to finance projects, including advising CIMB and HSBC on a RM600m cross-border 
deal by a subsidiary of Trans Thai-Malaysia. The practice advised South Korea’s SK Telecom on purchasing sharia-compliant irredeemable convertible preferred shares issued by Packet One Networks.

Wong Beh & Toh’s ‘responsive and 
solutions-driven’ practice handles a wide range 
of debt and equity mandates, including conventional and Islamic instruments and regulatory advice. It remains busy in IPOs, including benchmark listings of Asian companies on Bursa Malaysia as well as for Malaysian issuers on foreign stock exchanges. Wong Tat Chung, Cynthia Toh Mei Lee and Adrian Khor Aik Leng are recommended.

At the small but impressive Abdullah Chan, Vincent Chan is ‘technically superb but more importantly commercially savvy and business oriented’. He leads the practice on a range of debt and equity instructions, including cross-border listings and reverse IPOs. Clients include domestic investment groups.

Lee Perara & Tan recently acted on a high volume of listings on Bursa Malaysia, including that of Seremban Engineering and Asia Media Group. Name partner Tan Seng Kee heads the team.

Naqiz & Partners recently handled a number of Bursa Malaysia listings for leading Malaysian companies. These included acting for Bina Puri Holdings on its reverse takeover and restructuring of Omedia; and advising on Boilermech Holdings’ IPO, which was one of the biggest listings on ACE Market in 2010. Managing partner Tan Hon Yik heads the practice.

Shearn Delamore & Co acts for a mix of arrangers and borrowers on conventional and Islamic debt issuances. Pamela Kung acted for the joint arrangers on a multi-currency medium-term note programme worth $2bn, while Tee Joe Lei advised on a Tier 2 subordinate note programme worth $23m.

Shook Lin & Bok’s six-partner team advises on debt and equity instruments, including Islamic structures. The practice also acted for Cagamas Berhad, which issued a first-of-its-kind sukuk ALIm, worth RM1bn. Patricia David Saini is recommended.

Skrine remains busy advising on IPOs on Bursa Malaysia.