The Legal 500

Within Banking and finance, Zul Rafique & Partners is a first tier firm,

Zul Rafique & Partners has a strong 
reputation for cross-border and offshore mandates, including international debt issuances, and for advising on Islamic structures. Loh Mei Mei led advice to Celcom Axiata on its RM4.2bn sukuk issuance and to the manager of Starhill Global REIT on a cross-border real estate finance transaction worth over RM1bn. Jerry Ong advised RBS as arranger of Gulf Investment Corporation’s RM3.5bn sukuk issuance. Ashela Ramaya made partner in 2011.

Within Capital markets, Zul Rafique & Partners is a second tier firm,

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.

Within Corporate and M&A, Zul Rafique & Partners is a second tier firm,

Zul Rafique & Partners’ Jerry Ong is recommended for his experience and practical approach to M&A, and Au Wei Lien is well regarded for her general corporate expertise. Zulkifly Rafique remains an influential figure. Recent highlights have centred on the telecoms sector, and include acting for Astro Holdings on the privatisation of Astro All Asia Networks, one of the biggest such transactions of 2010; and advising Axiata Group on restructuring its Celcom telecoms business.

Within Dispute resolution, Zul Rafique & Partners is a second tier firm,

Leading litigator Cecil Abraham heads Zul Rafique & Partners’ dispute resolution team, which continues to make its mark in headline cases. These included a landmark Federal Court ruling, determining that the regent should have exclusive powers to carry out royal functions when a sultan is incapacitated. It also successfully represented EON Capital’s directors in a shareholder dispute brought by Primus.

Within IT and telecoms, Zul Rafique & Partners is a second tier firm,

Zul Rafique & Partners recently advised Telekom Malaysia on its national high-speed broadband network service. Au Wei Lien, who is ‘so professional and approachable’, and Darren Kor are recommended.

Within Islamic finance, Zul Rafique & Partners is a first tier firm,

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.

Within Legal market overview,

Shearn Delamore & Co, Skrine and Shook Lin & Bok retain their position as the traditional elite, but well-connected firms such as Zul Rafique & Partners, Zaid Ibrahim & Co and Kadir, Andri & Partners continue to encroach on market share.

Within Projects and energy, Zul Rafique & Partners is a second tier firm,

Zul Rafique & Partners has a strong reputation for infrastructure projects, having 
been instructed on several high-profile developments. It also has a particular focus on energy and utilities, where clients include Tenaga Nasional Berhad. Tunku Alizan RM Alias is well regarded.

Within Real estate and construction, Zul Rafique & Partners is a first tier firm,

Zul Rafique & Partners is best known for its construction law capabilities, but is also active in real estate developments and ‘definitely a major player for acquisition work’. Tang Ai Leen and Au Wei Lien (‘a practical commercial lawyer with a personal touch’) are both recommended.