Capital markets in Malaysia

Adnan Sundra & Low is a top choice for both ECM and DCM work, regularly advising on corporate bond issuances, issue of securities for banks and debt security projects financing. It also has a strong offering in guaranteed debt issuances by government agencies and government-linked companies, exchangeable Sukuk and real property securitisation exercises. The group has an exceptionally deep bench of practitioners, being led by Deepak Sadasivan, Putri Norlisa, Adrian Chee and Wong Chin Chin, as well as Edward Ng Foo Yuen and Tracy Ng Tsu Ynn. Up-and-coming partner Jennifer Lee‘s practice covers issuances in Singapore as well as Malaysia.

The capital markets practice at Albar & Partners handles a broad range of debt, equity and equity-linked products, also advising on post-issuance restructuring and refinancing. Equity work includes IPOs, equity-linked securities, rights offerings and secondary and follow-on offerings, while debt work covers commercial papers and medium-term notes, Sukuk, asset-back securities, convertible and exchangeable securities and subordinated debt. Lily Tan Chea Li heads the equity side of the practice, while Chung Swee Loong has an extensive record of DCM work and of project finance transactions.

The capital markets practice at Zul Rafique & Partners has strong capital-raising offerings for clients across the insurance, finance, telecoms, oil and gas, real estate and healthcare industries, as well as manufacturing and education. Key ECM work encompasses IPOs, secondary fundraising, restructuring and advice on continuing listing requirements. Debt-side work covers Sukuk issuances, medium term notes and commercial papers programmes, bonds issuances and asset-backed securitisation. The practice has a large team of specialists to draw on, headed by Ashela Ramaya, Chan Kwan Ho , Celine Rangithan and Jerry Ong .

Chooi & Company and Cheang & Ariff handles a wide variety of both equity and debt capital markets matters. On the equity side, the team assists clients with domestic offerings, including IPOs, convertible securities and employee share schemes, as well as with cross-border equity offerings on the Australian Stock Exchange, Hong Kong Stock Exchange and Labuan Stock Exchange. The practice assists issuers, managers and shariah advisors on debt capital market transactions such as medium term notes and structured bonds under both conventional and Syariah principles. Key names within the group are Tan Ming-li , Chong Wei Lung , Yeat Soo Ching  and Yoon Ming Sun .

The capital markets practice at Lee Hishammuddin Allen & Gledhill is highly regarded for its handling of major debt offerings, both conventional and Islamic. The team advises on bond offerings, commercial paper and medium-term note programmes, as well as Islamic finance-based instruments. The group also deals with equity work, with significant expertise in listings, equity-linked instruments and structured products. Tay Weng Hwee heads the M&A practice as well as the capital markets group.

The capital markets practice at Rahmat Lim & Partners acts on a broad spread of debt- and equity-side issuances. Recent work includes bond and note issuances, including Islamic medium-term notes programmes, with a specialist offering in funding renewable energy projects through debt capital raisings. The team has a strong offering when it comes to REITs, and also works on IPOs, secondary issuances, employee share schemes and warrant issuances. Wan Kai Chee heads the firm’s wider financial services department, his practice spanning capital markets, investment funds, private equity, and fintech.

Wong Beh & Toh is particularly recommended for the equity side of its capital markets practice, which has considerable strength in IPOs, listings and private placements. Other key areas of work include transfers of listings, secondary offerings and rights issuances. Cynthia Toh and Chin Lit Fwu are the key contacts.

David Lai & Tan has developed from being litigation specialists to include a corporate and commercial practice and increasingly capital markets. It advises small and medium sized clients on fund raisings, take-overs and acquisitions, joint venture and business co-operations and IPOs. Recent work includes IPOs and listing on both the Bursa Malaysia and the Hong Kong Stock Exchange. Tan Yee Boon was previously best known for commercial litigation involving securities law; his practice now focuses on non-contentious equity capital markets work.

Kadir Andri & Partners advises a range of issuers, underwriters, financiers and both domestic and international institutional investors. The capital markets department has a strong track record of equity transactions, including public and private offerings, IPOs and international offerings. The group also assists with conventional and Syariah-compliant debt securities. Founding partner Tan Kong Yam heads the wider corporate practice; he has extensive experience of ECM, and REITs matters.

Mah-Kamariyah & Philip Koh focuses on equity transactions, frequently advising on IPOs and listing exercises on the Bursa Malaysia. The ‘commercially-driven’ practice head Adrian Koh has considerable experience in share offerings, the issuance of private debt securities and securities regulation. Up-and-coming partner Yee Chew Yan is also noted.

Peter Ling & van Geyzel focuses on equity capital markets, assisting with IPOs and listing on the Bursa Malaysia and on the Hong Kong and Singapore Stock Exchanges. Team lead Peter Ling‘s practice covers cross-border structured financing as well as inbound investments and IPOs.