The Legal 500

Adnan Sundra & Low is well known for handling notable Islamic deals and is well connected to leading players in the banking world. Recent highlights include acting for the first Thai issuer in Islamic capital markets, and advising CIMB and Citibank as joint arrangers to Malaysia Airports Capital’s RM3.1bn sharia-compliant financing. The practice also acted for other arrangers and issuers on high-value sharia-compliant financings, guaranteed by the government. Deepak Sadasivan and Adrian Chee Meng Yang lead on transactions.

Albar & Partners is a leading player that is a prominent presence representing issuers and arrangers on headline deals, thanks to its strong connections and highly regarded team of specialists, which includes Syed Zaid Albar, Lily Tan Chea Li and Chung Swee Loong. The group acted on Petronas’ RM14.8bn IPO – the biggest sharia-compliant equity listing to date. It also advised Maybank on the RM5.6bn debt restructuring of Senai-Desaru Expressway Berhad and on a cross-border refinancing for PT TH Indo Plantations. Other clients include Telekom Malaysia, CIMB and OCBC.

Kadir, Andri & Partners is often present on landmark Islamic issuances. Recent achievements include acting on Cagamas’ RM1bn first-of-its-kind sukuk ALIm issuance, and for Khazanah Nasional on its S$1.5bn sukuk issuance, which was the largest and longest-term deal of its kind in Singapore. It was local counsel to CIMB, Citigroup, Maybank and HSBC as lead underwriters on the Malaysian government’s $2bn sharia-compliant sovereign bond issuance. Andri Aidham Badri leads on Islamic finance matters.

Shearn Delamore & Co’s Tee Joe Lei is well known for her Islamic and conventional financing expertise. Recently she acted for Standard Chartered on various sharia-compliant loans and also advised the borrower of a RM190m credit facility to redeem its sukuk issuance. The loss of Fiona Sequerah to Christopher Lee & Co was balanced by the recruitment of Pamela Kung from Zaid Ibrahim & Co in 2011.

Shook Lin & Bok continues to develop its standing in the space under banking and finance expert Jal Othman. Finance for government-related projects is a substantial source of mandates for the practice, which recently advised a financial institution on a RM1bn-plus project to build university campuses. The team also advised on a RM300m facility to fund a mixed-use development.

Zaid Ibrahim & Co’s team is now led by Madzlan Hussain, following Megat Hizaini Hussain’s departure to Lee Hishammuddin Allen & Gledhill. The practice advises leading banks on pioneering deals, such as Singapore’s largest sukuk; the first CBBC in Southeast Asia; and the biggest sharia-compliant sovereign issuance globally to date, valued at $1.25bn.

Zul Rafique & Partners advises issuers and arrangers on sharia-compliant structures for high-value financings. Practice head Loh Mei Mei is a well-regarded capital markets expert who recently acted for Danajamin Nasional on the first sukuk offering by a financial guarantee insurer. It also advised on Celcom’s RM4bn-plus Islamic bond issuance, and acted for RBS on Gulf Investment Corporation’s RM3bn-plus medium term note programme.

Abdul Raman Saad & Associates is particularly notable for its Islamic REITs expertise, and it also recently advised the healthcare investment fund Al-Aqar KPJ on acquisition financing.

Hamdi Abdullah leads Abdullah Chan’s Islamic finance practice, and advised BNP Paribas Najmah on a cross-border financing. Other clients include Asian Finance Bank Berhad and Kuwait Finance House.

Azmi & Associates has wide-ranging capabilities on Islamic banking, debt and equity financing. Ahmad Lutfi Abdull Mutalip heads the practice, which acts for domestic clients such as Asian Finance Bank and Affin Islamic Bank.

Well connected to the banking world, Lee Hishammuddin Allen & Gledhill is building a presence in Islamic finance following the hire of new practice head Megat Hizaini Hassan from Zaid Ibrahim & Co in 2011. Hassan led advice to the Malaysian government on its $2bn sovereign bond issuance.

Khairul Ismail heads Naqiz & Partners’ practice, which has a broad range of capabilities in Islamic finance including advice to funds.

Wong & Partners’ Mark Lim acted for several banks on a multi-currency syndicate loan to fund a sharia-compliant global REIT.

Illiayas’ banking and finance work 
emphasises Islamic transactions and products. Mohamad Illiayas B Seyed Ibrahim is the lead partner.

Jeff Leong, Poon & Wong has established a niche in Islamic financing for the telecoms sector. Marwalis Kassim heads the practice; James Wong advises on Islamic debt securities.

Name partner Lee Choon Wan at Lee Choon Wan & Co is well regarded for banking and finance matters, including Islamic structures and products.

Lee Perara & Tan’s Gerald Perara and George Chong handle Islamic finance matters. Clients include CIMB and Kuwait Finance House.

Raja, Darryl & Loh’s Christopher Foo is highly regarded for his expertise in trusts and asset management.

Skrine’s Mohamed Ismail Shariff has a longstanding reputation in the field for both transactional and contentious matters.

Tay & Partners is able to apply its capital markets capabilities to Islamic bond issuances and recently acted for certain financial institutions on a dual-tranche sharia-compliant and conventional syndicated loan.