Corporate and M&A in Malaysia
The corporate team at Christopher & Lee Ong is considered 'unique for its in-depth expertise on cross-border M&A transactions'. The practice includes banking practitioner Lee Hock Chye, capital markets expert Christopher Lee, the 'excellent' Yon See Ting, cross-border specialist Yau Yee Ming and KuokYew Chen (the name to note for business verticals and market entry). A member firm of Rajah & Tann Asia, it utilises this association in order to pursue the most complex domestic and cross-border transactions. Specific areas covered include: M&A, private equity investments, share acquisitions, venture capital deals, strategic alliances and corporate restructuring. Its significant client portfolio includes private equity houses as well as SMEs from sectors such as energy, retail, logistics and pharmaceuticals.
‘As a firm, CLO has a good team of lawyers with deep experience across different legal fields, which can be critical in M&A transactions‘.
‘What makes Christopher & Lee Ong’s Corporate and M&A practice unique is their in-depth expertise on cross-border M&A transactions (with particular emphasis on regional M&A transactions) and experience in handling complex transactional work. Their capabilities are shown by their ability to produce innovative solutions in approaching key issues, the quality and clarity of their advice as well as their commercial understanding of our objectives. In addition, their partners and lawyers are hands-on, very experienced, accessible and responsive, and they go the extra mile in providing their services‘.
‘Very experienced, capable and provide in-depth advice on various issues related to the topic‘.
‘I worked with Yon See Ting on a transaction in Malaysia in 2019. She was very helpful throughout the transaction, and gave very constructive advice to mitigate deal issues. She is also very dedicated to her clients, which was key to the successful completion of our transaction. I am looking forward to the next opportunity to work with her again‘.
‘Kuok Yuew Chen: Highly capable, experienced and available when needed and flexible in their approach to suit your working style. Goes to great lengths to service clients and cover all related aspects including assisting on regulatory/government approvals, etc‘.
‘Our main contact lawyer at Christopher & Lee Ong is Ms Yon See Ting. She has been excellent in advising us and she offers sound legal advice along with valuable commercial insights. Her in-depth experience in M&A transactions, especially in negotiations, and all round knowledge of the business and Malaysian economic and political factors have helped us navigate through our complex transaction‘.
Guoline Investments Company Ltd, subsidiary of a public-listed conglomerate (“Hong Leong Group”)
WingTech Technology Co Ltd, world’s largest smartphone contract manufacturer
SH Cogent Logistics Pte Ltd, indirect wholly owned subsidiary of Cosco Shipping International (Singapore) Co., Ltd (“COSCO SG”)
Johnson Control (S) Pte Ltd & Johnson Control (M) Sdn Bhd
SIA Engineering Company Limited
Air Liquide Malaysia Sdn Bhd
ISEC Sdn Bhd, a subsidiary of Singapore Exchange Catalist company, ISEC Healthcare Ltd
TH Plantations Berhad, a Malaysian publicly-listed palm oil and plantations company
Solluna Investments Pte Ltd, a subsidiary of Singapore Exchange Mainboard company, Lum Chang Holdings Limited (“Lumchang”)
Moy Pui Yee directs the corporate and M&A offering at Rahmat Lim & Partners. The team includes Ang Sinn E, foreign investments practitioners Chen Lee Won and Chan Weili, financial services specialist Chia Chee Hoong and take-overs expert Ho Wei Lih. Described as providing an 'impeccable' approach, it handles matters such as regional joint ventures, share and business acquisitions, corporate re-organisations, privatisations, leveraged buyouts and capital restructuring. A recent standout case concerns the firm's work for YTL Cement on a 51% share acquisition in Lafarge Malaysia. Other notable clients within the portfolio include Jollibee Foods Corporation, Carousell Pte. Ltd and major telecoms company StarHub.
‘I have worked with three Malaysian law firms for one particular project, but out of those firms, RL&P’s stood out for meeting a deadline they promised (and quality of the work was outstanding). Most of all, I can trust them, so do not need to worry whether they correctly reflected our position or not. Furthermore, if an instruction is unclear they reach out first and clarify the matter promptly‘.
‘The best team I have ever worked with in my career. Out of all the firms I know, I am confident that Rahmat Lim & Partners provided the best customised legal service. For more than three months, we often worked until between 2~3 am (Malaysian time) and also had teleconferences due to urgent matters. I have never seen them late or make any complaints. Instead, they provided the quality of service expected from them. If I am to work on a Malaysian project in the future, I already know who I would like to work with. The team’s work ethic and attitude is impeccable‘.
- Acted for YTL Cement Berhad on the acquisition of 51 per cent shares in Lafarge Malaysia Berhad (“Lafarge Malaysia”) by YTL Cement Berhad from Associated International Cement Limited and unconditional mandatory take-over offer for all the remaining shares in Lafarge Malaysia Advised YTL Cement Berhad, a subsidiary of YTL Corporation Berhad, in respect of its acquisition of 51 per cent. shares in Lafarge Malaysia from Associated International Cement Limited for a total cash consideration of approximately MYR1.625 billion (approx. US$396 million) and the subsequent unconditional mandatory take-over offer by YTL Cement Berhad to acquire all the remaining ordinary shares in Lafarge Malaysia not already owned by it, at a cash offer price of MYR3.75 per share.
- Acted for Jollibee Foods Corporation and Viet Thai International Joint Stock Company on the acquisition of The Coffee Bean & Tea Leaf® specialty coffee and tea brand Advised Jollibee Foods Corporation and an affiliate company of the Viet Thai Group as Malaysian counsel in the acquisition of 100 per cent. of The Coffee Bean & Tea Leaf® specialty coffee and tea brand with business presence in 27 countries.
- Advised Carousell Pte. Ltd on the US$278 million acquisition of 701Search Pte. Ltd from Telenor Group. 701Seach has subsidiaries operating across South-east Asia, including Malaysia (i.e. Mudah), Vietnam (i.e. Cho Tot) and Myanmar (i.e. OneKyat). The acquisition also resulted in the merger of Carousell and Telenor Group through the subscription of a 32 per cent. stake (US$20 million investment) in Carousell by Telenor Group.
Datin Grace Yeoh heads the corporate and M&A offering at Shearn Delamore & Co. Recognised for its work in takeovers, restructurings, cross-border transactions and greenfield/brownfield projects, it counts Tricor Group and Merck as key clients. Described as giving 'solid commercial advice', the team includes education expert Nicholas Tan Choi Chuan, the 'quick thinking' Michelle Wong Min Er and the 'amazingly detailed' Lai Zhen Pik. Its cases fall within diverse sectors and include: e-commerce, logistics, automotive, healthcare and mining. A standout highlgiht for the firm is its role in facilitating the sale of INTI Education Holdings and its subsidiaries to HOPE Education Group.
‘They assisted us on an M&A project in Malaysia. They were hands-on, very responsive and quick to deliver‘.
‘I worked with the M&A team led by Michelle Wong Min Er and the results were exceptional‘.
‘The team has depth of experience and gives solid commercial advice. It is also very helpful for the client that the team is very responsive with short turn around times (even during the lock down period)‘.
‘Lai Zhen Pik is amazingly detailed and meticulous with her work. The team is reliable and a real pleasure to work with‘.
‘Michelle Wong – resourceful, quick thinking, patient with client and attentive to all matters, commercial minded and works tirelessly around the clock to ensure the case is completed within strict timelines‘.
Mammoth Empire Group of Companies
United Malacca Berhad
DuPont (including recently agriculture, nutrition and bio-sciences operations)
Reed Business Information Limited (Online Platform)
Elanco Animal Health Inc. (Veterinary pharmaceuticals)
Tricor Group (Hong Kong)
Alibaba / Cainiao Logistics Group
CISDI Group Co. Ltd (China), a core subsidiary of China Minmetals Corporation, a Fortune Global 500 company
Nuctech Company Limited (China)
China Oil Field Services Limited
Sony Interactive Entertainment (USA)
JUUL Labs Singapore Pte Ltd (Singapore and USA)
CREC Development (M) Sdn Bhd, a subsidiary of the China Railway Group Limited (CREC) (listed on SSE and SEHK) (China)
British Council, UK (UK)
Ceridian Group (USA)
CISDI Group Co., Ltd (China)
Enea AB. (Sweden)
Bynder Holding B.V. (Netherlands)
High-value, cross-border transactions for blue chip corporates constitute a significant portion of the work for Skrine's corporate and M&A team. Particularly known for its insurance sector advice, it also has a significant track record in high-value oil and gas transactions. In addition, the team is retained by both major domestic and international companies who draw on the firm's lateral expertise in competition and tax matters. Following the retirement of Theresa Chong, the team leads are To’ Puan Janet Looi and Fariz Abdul Aziz, respective specialists in foreign direct investment and energy. They are supported by Sheba Gumis, recommended for her work in joint ventures. Chew Soon Quay departed in November 2019 to join the judiciary.
Other key lawyers:
‘Excellent track record advising on significant oil & gas transactions in Malaysia with relationships at PETRONAS, Carigali, and other relevant third parties such as service companies‘.
‘Fariz was always available for a call/meeting throughout the process and provided good counsel‘.
Murphy Oil Corporation
Hope Education Group
Carlyle International Energy Partners
Kumpulan Perangsang Selangor Berhad
Reckitt Benckiser Group
Iskandar Innovations Sdn. Bhd.
J-Oil Mills, Inc. (“J-Oil”)
Ekuiti Nasional Berhad
Sapura Resources Berhad
- Acted as lead counsel for Hope Education Group in its acquisition of the Inti Group of Universities and Colleges. On 28 February 2020, Hope Education Group (Hong Kong) Company Limited (‘Hope’), a wholly-owned subsidiary of HKEX-listed Hope Education Group Co., Ltd., entered into an agreement with Exeter Street Holdings Sdn. Bhd. (‘Exeter’), a subsidiary of NASDAQ-listed Laureate Education, Inc. to acquire all the issued shares in Inti Education Holdings Sdn. Bhd. (‘IEHSB’) for a purchase price of USD 140 million.
- Acted as Malaysian counsel for Murphy Oil Corporation in respect of its USD2.13 billion sale of its entire Malaysian portfolio to Thailand’s PTT Exploration and Production Plc (“PTTEP”). Skrine provided substantial advice and support on oil & gas law / practice, employment, tax, insolvency and general corporate matters. Skrine also assisted on engagement process with Malaysian regulators due to market and cultural familiarity.
- Represented its client SMARTPIPE Technology Sdn Bhd (SMARTPIPE Technology) (a wholly owned subsidiary of Kumpulan Perangsang Selangor Berhad (KPS)) in drafting a joint-venture agreement with Menteri Besar Kedah Incorporated (MBI Kedah) to undertake non-revenue water (NRW) and other water-related projects to remedy the NRW situation in the state of Kedah.
Wong & Partners
Wong & Partners' corporate and commercial offering is directed by the 'pragmatic and extremely responsive' private equity expert Brian Chia. Working for clients such as Nestle, Affinity Equity Partners and Bank of Tokyo Mitsubishi UFJ, it maintains a specific focus on cross-border cases, venture capital and corporate reorganisations. The team is known for its work in sectors such as manufacturing and healthcare and includes finance expert Andre Gan, capital markets specialist Munir Abdul Aziz and insurance practitioner Sue Wan Wong. Notably, the team recently welcomed Addy Herg and Lydia Kong, from Skrine and Navis Capital Partners respectively.
‘The team at Wong & Partners Kuala Lumpur stand out in terms of responsiveness and a willingness to take extra steps to understand a client’s commercial needs when rendering advice‘.
‘Extremely proactive, professional and familiar with the M&A scene in Malaysia. A full service firm that is also able to provide cross-border advice. Versatile and able to provide very commercial, practical advice‘.
‘Wong & Partners is our designated counsel for all our investments in Malaysia. As we are a venture capital investing firm, we’re always looking for lawyers that understand our risk appetite, can identify what’s material against what’s nice to have, can provide legally creative solutions, and can move fast. Wong & Partners has all of these strengths – despite our industry being nascent, they’ve demonstrated a willingness to invest their promotional time in learning up the technical aspects of our work in order to better serve our matters, can identify and distinguish salient legal and commercial issues, and are always responsive and communicative‘.
‘Strong domain knowledge, experience in Malaysia is unparalleled not only in legal issues but commercial issues‘.
‘The team quickly understands key issues associated with complex matters, makes themselves available at all times and clearly outlines risks for further consideration‘.
‘Staff are extremely experienced and knowledgeable. They are able to explain complex concepts to those who don’t work day to day in the jurisdiction‘.
‘Brian Chia is our relationship partner. He is pragmatic and extremely responsive. He’s always willing to have conversations about what his team can do better and if we are in need of specific training on any fronts. As a client I really appreciate this, as it’s not always just about the technical legal work product – cost, process, resource and timing considerations are just as important when managing in-house legal matters, and Brian demonstrates a consistent and robust awareness of these needs‘.
‘Munir Abdul Aziz – Mastery in M&A, understands business nuances and always finds creative solutions for difficult / bureaucratic processes‘.
S P Setia Berhad
Nestle (Malaysia) Berhad
CIMB Group Holdings Berhad
Bank of Tokyo Mitsubishi UFJ
Affinity Equity Partners
Ekuiti Nasional Berhad
Press Metal Aluminum Holdings Berhad
Navis Capital Partners
- Acted for Prestigion Education Sdn. Bhd. (formerly known as Two Horses Capital Sdn Bhd) in connection with its MYR 540.5 million acquisition of 80% of Paramount Education Sdn Bhd, Paramount Education (Klang) Sdn Bhd and Sri KDU Sdn Bhd from Paramount Corporation Berhad.
- Acted for Press Metal Aluminium Holdings Bhd, one of the world’s leading Aluminium smelter and the largest in Southeast Asia, in connection with its USD 80.232 million / MYR 331,358,160 investment in PT Bintan Alumina Indonesia by way of a subscription of 25% of the enlarged share capital of PT BAI.
- Advised Graymont Limited (“Graymont”), on the acquisition of shares of Unichamp Mineral Sdn. Bhd. from SCR-Sibelco N.V. and Sibelco Netherland N.V. (collectively, “Sibelco”). This is part of Graymont’s acquisition of Sibelco’s global lime and limestone business, including operations located across the Asia-Pacific region in Australia, Malaysia, Indonesia, the Philippines, and South America in Argentina and Chile.
The corporate and M&A team at Adnan Sundra & Low is headed by financial expert Wong Chin Chin, capital markets specialist Adrian Chee Meng Yang, equity fund raising professional Tracy Ng Tsu Ynn, international counsel How Tze Yen, project financing practitioner Adrian Chair Yong Huang, the banking-focused Putri Norlisa Najib and acquisitions lawyer Constance Low Yit Chen. Petronas Chemicals Group and CapitaLand are key clients with the firm also operating in sectors such as civil aviation, Islamic finance and real estate. A notable highlight for the firm is its role in advising PTT Exploration and Production's purchase of Murphy Oil Corporation’s oil and gas business in Malaysia.
Paramount Corporation Berhad
PTT Exploration and Production Public Company Ltd
Abu Dhabi National Oil Company
Blue Planet Environmental solutions Pte Ltd; Blue Planet Environmental Solutions (Malaysia) Sdn Bhd
Furukawa Electric Co. Ltd
Petronas Chemicals Group Berhad
- Advised Thailand’s PTT Exploration and Production Public Company Ltd (PTTEP)’s purchase of Murphy Oil Corporation’s oil and gas business in Malaysia through acquiring shares in its two Malaysian subsidiaries, Murphy Sabah Oil Co Ltd and Murphy Sarawak Oil Co Ltd.
- Advised CapitaLand Limited on the sale by Ascendas-Singbridge Pte. Ltd and purchase by CapitaLand of all the issued shares in each of Ascendas Pte Ltd and Singbridge Pte. Ltd. for a total consideration of S$6,035.9 million, to be satisfied by an equal proportion of cash and new ordinary shares in CapitaLand.
- Advised Paramount Corporation Berhad on the disposal of an 80% interest in the pre-tertiary education business comprising the Sri KDU K-12 schools, REAL K-12 schools, REAL Kids kindergartens and Cambridge English-for-Life language centres which involved the disposal of (1) 69.7% of the shares in Paramount Education Sdn Bhd from Paramount Corporation Berhad (“Paramount”) to Prestigion Education Sdn Bhd (“Prestigion”); (2) 80.0% of the shares in Sri KDU Sdn Bhd and Paramount Education (Klang) Sdn Bhd respectively from Paramount to Prestigion; and (3) 34.0% of the shares in Real Education Group Sdn Bhd from Character First Sdn Bhd to Prestigion.
Chooi & Company and Cheang & Ariff
Representing a strong mix of clients in both domestic and international matters, the corporate and M&A team at Chooi & Company and Cheang & Ariff counts Complete Logistics Services and Tenggara Analisis within its portfolio. Covering areas such as disposals, joint ventures and venture capital, it handles work on behalf of financial institutions, stock brokers, water treatment plants, property developers and biotech firms. In addition, the firm is currently expanding its offering into maritime law in light of its expanding clientele. The team is led by Yoon Ming Sun, Janet Chai Pei Ying and Tiu Gi Gyn. The 'un-matchable' Tan Ming-li is another key name to note.
Other key lawyers:
‘The team is sufficiently diversified to leverage the strength of individual team members and cover for any deficiencies one team member may have. The team is efficient and thorough, covering the various areas completely‘.
‘They provide excellent legal and commercial advice and work within very tight timelines‘.
‘Personal attention, industry knowledge, depth and a practical approach to solve problems, provide solutions or alternatives to issues encountered. The team I worked with at CCCA excelled in these areas compared to their peers‘.
‘Ms. Tan Ming-Li (Partner) – is able to provide sound strategies and advice for our corporate exercises as she is very familiar with our business. Her turn around time is un-matchable‘.
‘Tan Ming Li – I worked with her in my projects and find her knowledgeable in the issues encountered. Her vast experience in M&A transactions provided her with insights into common issues affecting the transactions undertaken and suggest solutions best suited to the client‘.
Bio Osmo Berhad now known as Impiana Hotels Berhad
Gagasan Nadi Cergas Berhad
Complete Logistics Services Berhad
Tenggara Analisis Sdn Bhd
Tan Kong Yam directs the corporate and M&A offering at Kadir Andri & Partners. Key issues covered include: take-over offers, de-mergers, schemes of arrangement and selective capital reduction exercises. The team advises domestic and international clients across sectors such as banking, insurance, plantations, energy and telecommunications. Specifically, a recent highlight for the team is its role in advising Australian company WorleyParsons on its acquisition of the Malaysian assets of Jacob Engineering. Samuel Hong is a key name to note.
Other key lawyers:
Sime Darby Plantation Berhad
Maybank Group of Companies
CIMB Group of Companies
- Advised, the Australian engineering services firm, WorleyParsons on its acquisition of Malaysian assets as part of its global acquisition of all the Energy Chemicals and Resources (ECR) assets and subsidiaries of Jacob Engineering for approximately USD3.2 billion.
- Advised HL Cement (Malaysia) Sdn Bhd and Ridge Star Limited, on its take -over offer of Tasek Corporation Berhad a publicly listed company on Bursa Malaysia
Counting the Malaysian Airline System and AEON Credit Service as key clients, the corporate and M&A offering at Lee Hishammuddin Allen & Gledhill is headed by capital markets expert Weng Hwee Tay. The team handles issues such as joint ventures, corporate reorganisations, private equity investments and foreign direct investment in addition to its general advisory work. Raphael Tay is said to have 'vast knowledge of the automotive industry' and has a significant track record in restructuring matters. Ooi Bee Hong recently departed for Rosli Dahlan Saravana Partnership.
Other key lawyers:
‘Industry knowledge and accuracy of the legal advice provided. One of our go to counsels for corporate matters especially on e-commerce projects, fintech and online sale platforms‘.
‘I work with Raphael Tay from the firm. He has vast knowledge of the automotive industry and the changes in which the industry is heading.’
ORIX Corporation (ORIX)
Chip Eng Seng Corporation Ltd (Singapore)
Malaysian Airline System
AEON Credit Service (M)
The corporate and M&A offering at Mah-Kamariyah & Philip Koh handles the full spectrum of business and litigation services for entrepreneurs, emerging businesses and multi-national conglomerates. The two leads are Adrian Koh, experienced in takeovers, capital markets and restructurings and Philip Koh, a specialist in securities law and civil litigation.
Zaid Ibrahim & Co (a member of ZICO Law)
At Zaid Ibrahim & Co (a member of ZICO Law), Gilbert Gan handles foreign direct investments, Chua Wei Min specialises in cross border work, Ahmad Zulkharnain Musa caters for equity capital markets, Wooi Hong Tan pursues foreign investments, Nadarashnaraj Sargunaraj is expert in competition law, Idahani Ismas Ismail is known for her work in the automotive sector and Ang Siak Keng has a strong reputation in M&A. The Campbell Soup Company and IHS Markit are among the team's key clients which the firm assists with retail distribution agreements, licensing arrangements, franchising matters and e-commerce transactions. Stephanie Choong Siu Wei is the name to note for 'routes to market' projects.
Other key lawyers:
‘They provide very high quality legal services to clients. With this approach we were able to close our transaction smoothly and convince the other party and their legal representatives‘.
‘Worked exclusively with Chua wei Min and Stephanie Choong, lawyers who were exceptional and were able to close the transaction smoothly by being professional and practical in approaching the finality. Their vast experience immensely helped us to close our deal.’
- Acted for Zensho Holdings Co., Ltd. on the purchase of 100% stake in TCRS Restaurants Sdn Bhd, which owns the restaurants – The Chicken Rice Shop – with approximately 100 outlets throughout Malaysia. The purchaser is an operator of a total of 9.509 restaurants (as of end of March 2019) spanning across different countries carrying famous restaurant brands such as among others, Sukiya, Coco’s, Ichiban, Café Milano, Victoria Station.
- Zaid Ibrahim & Co (a member of ZICO Law) advised CIMB Group on the divestment of its 50% stake in its cash equities businesses to, and collaboration with China Galaxy Securities Co Ltd (“CGS”), one of China’s leading integrated service providers in the securities industry. This collaboration marks the first of such scale by a Malaysia based financial group with a foreign financial group. It also marks the first for a Chinese stockbroker into Southeast Asia and enables the development of a Pan-Asian brokerage to capitalise on increasing cross-border investments under China’s Belt and Road Initiative.
- Advised Khazanah Nasional Bhd (“KNB”) on its divestment of 16% in IHH Healthcare Bhd to Mitsui & Co. Ltd of Japan for RM8.42 billion. The divestment kicked off the restructuring by KNB (the investment arm of the government of Malaysia) of the restructuring of its portfolio under the Malaysia new government and represents one of the largest Malaysia M&A deals completed in 2019. IHH is one of Asia’s largest private hospital groups with a reported market value of USD10 billion.
Zain & Co
Assisting clients with due diligence, joint ventures, commercial agreements, debt restructuring and divestments, the corporate and M&A team at Zain & Co is led by Salwah Abdul Shukor. The group is described as providing a 'very responsive and readily available' service and counts Informa Plc within its client portfolio. In addition, the firm attracts work from sectors such as not-for-profit, energy, media, retail, transportation and food. Pauline Ngiam handles corporate restructuring while Rebecca Jeyanthi Selvaraj is notable for her experience in foreign direct investment.
‘They are familiar with the structure of the company and are available to provide advice without much explanation‘.
‘Very responsive and readily available‘.
Engaging law firm: Dentons UKME & underlying client: Informa Plc (“Informa”)
Permodalan Nasional Berhad
- Advised Permodalan Nasional Berhad, Jewel Digital Ventures Sdn. Bhd. & Amanah Saham Nasional Berhad on the structure of the joint venture and drafted, reviewed and commented on the Joint Venture Agreement between Raiz Invest Australia Limited (Raiz Australia), Jewel Digital Ventures Sdn Bhd (JDV) and Raiz Malaysia Sdn Bhd (Raiz Malaysia). Drafting, reviewing and commenting on the Share Purchase and Subscription Agreement to be entered into between the three parties.
Vincent Chan, Hui Lu Yap, Shelina Razaly Wahi and Gopal Sundaram steer the corporate and M&A team at Abdullah Chan & Co. A key highlight for the firm is its role in advising YHL Holdings on its group restructuring (a case featuring Bernas and related subsidiaries). In broader terms, the team handles fundamental sector issues such as capital markets and foreign direct investments. Notably, it also has a developing reputation in the aviation and aerospace industries.
Qatar Islamic Bank (QIB)
Financial Assets Bahrain WLL
RUSD Investment Bank Inc
Tadhamon International Islamic Bank
YHL Holdings Sdn Bhd – a subsidiary of Padiberas National Berhad
Guocoland (Malaysia) Berhad
- Acted for and advised QATAR ISLAMIC BANK, FINANCIAL ASSETS BAHRAIN W.L.L, RUSD INVESTMENT BANK INC AND TADHAMON INTERNATIONAL ISLAMIC BANK, the sell side, in the RM650 million disposal and merger of ASIAN FINANCE BANK BERHAD AND MALAYSIAN BUILDING SOCIETY BERHAD, to create the second largest Islamic bank in Malaysia. There are only two bank mergers in the past 10 years in Malaysia and we handled both of them. Our role included drafting all the transaction agreements, running due diligence and applying for regulatory approvals.
Albar & Partners' corporate and M&A team is led by large-scale transactions specialist Lily Tan Chea Li who is considered 'the embodiment of the firm's key strengths'. Other key team members include Natalie Suan Wan Peh, Seet Hooi Ping , Cassandra Hogg and Abraham Tat Hon Teh who assist clients with a broad spectrum of company and securities law services. Sectors covered include: information and communications technology, defence and security, telecommunications, government and public policy and utilities.
‘The team is able to find solutions that still protect a client’s position vis-a- vis rigidity of an act or a clause. This is key as it allows a transaction to be completed. The team collaborate very well and able to assist each other.’
‘Technical excellence coupled with commercial sensibilities. Also good at trouble-shooting and providing solutions to cases without precedents‘.
‘Lily Tan is the embodiment of the firm’s key strengths‘.
‘Resourceful, solution oriented, dedicated, commercial thinking. I am now working with Lily Tan, Natalie Peh, Abraham Teh and Cassandra Hogg‘.
Icon Offshore Berhad
Kumpulan Perangsang Selangor Berhad
Leong Hup International Berhad
Malaysia Building Society Berhad
Malakoff Corporation Berhad
MMC Corporation Berhad
QSR Brands (M) Holdings Berhad
Serba Dinamik Holdings Berhad
Syarikat Pengeluar Air Selangor Holdings Berhad
- Acted for Serba Dinamik Holdings Berhad (SDHB) as the issuer in the private placement of up to 10% of the total number of issued shares of SDHB. The private placement was undertaken in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016. It is expected to raise gross proceeds between RM450.57 million to RM580.09 million. The Serba Dinamik Group is an international energy services group that provides engineering services & solutions to the Oil and Gas, Power Generation, Water and Utilities industries.
- Acted for Malakoff Gulf Limited, a wholly-owned subsidiary of Malakoff International Limited which in turn is a wholly-owned subsidiary of Malakoff Corporation Berhad (MCB) in the acquisition of the entire equity interest in Desaru Investment (Cayman ISL.) Limited from Khazanah Nasional Berhad for US$70 million. MCB is an independent water and power producer with core focus on power generation, water desalination and operation and maintenance services. As a result of the successful completion of this cross-border deal, MCB increased and consolidated its total effective generation capacity for power and water in line with their growth strategy.
At Azmi & Associates, the corporate and M&A team includes AzmiMohd Ali, Norhisham Abd Bahrin, Jonathan Ngee Song Law, Sharizan Sarif and Suhara Mohamad Sidik. A notable recent case for the firm is its role in facilitating the selective capital reduction of RM24mil (approx) as undertaken by DeGem. In broader terms, the team assists clients on joint ventures, cross-border transactions, restructuring, project finance, privatization and debt restructuring.
Lee & Man Paper Manufacturing Limited
Goodway Integrated Industries Berrhad
Turkish AeroSpace Industries Inc
QSR Brands (M)
- Advised DeGem Berhad on a selective capital reduction of approximately RM24mil and privatization exercise.
- Adcvised Synergy Sterilisation (M) Sdn. Bhd on the purchase of 2,500,000 ordinary shares in Electron Beam Sdn. Bhd. representing 100% shares in the company, by Synergy Sterilisation (M) Sdn. Bhd. from Adventa Berhad. The target company is the only company that provides sterilization service by using electron beam in Malaysia.
- Advised Perbadanan Kemajuan Negeri Selangor on the strategic collaboration between Perbadanan Kemajuan Negeri Selangor (“PKNS”) and Eastern Ecotourism City Sdn Bhd (“EEC”) for the development of lands into an integrated tourism and commercial area in Bernam Jaya.
Mohamed Ridza & Co
Three leads head the corporate and M&A team at Mohamed Ridza & Co: Mohamed Ridza Abdullah, Mohamad Nazran Basirun and Sharifah Shafika Alsagoff. The team handles transactions such as: listings of public companies, joint ventures, consortium agreements and venture capitalist transactions. Lembaga Tabung Haji is a key client which the firm represented in respect of the (proposed) transfer of underperforming assets.
Lembaga Tabung Haji
- Represented Lembaga Tabung Haji in respect of the proposed transfer of underperforming assets worth RM19.9 Billion to a special purpose vehicle owned by the Ministry of Finance, Malaysia
Murad Yee Partnership
Yee Fook Weng heads the corporate and M&A team at boutique practice Murad Yee Partnership. Key areas of focus include corporate restructuring, reorganisations, capital markets and private equity. Catering for a substantial number of listed companies, it is also known for representing government-linked operations, multinationals and foreign entities. A recent highlight indicative of the team's abilities concerns its role as counsel to the bidder for the solar 3 (LSS3) scheme undertaken by the Government of Malaysia.
‘More attentive than other firms and they provide accurate and insightful advice‘.
‘Standout points: reasonable fees, practical advice, close guidance, strong technical knowledge, patient‘.
- Acted as the counsel to the bidder for the open tender for the large scale solar 3 (LSS3) scheme undertaken by the Government of Malaysia. The scheme comprises projects which are estimated to be worth RM2 billion. As counsel, we provided advice on the relevant project structure, documentation and legal issues involved.
- Acting as the Malaysian counsel for a major group reorganization and capitalization exercise involving a group of companies in the business of materials manufacturing/processing. The exercise encompasses a number of components including acquisition of assets, industrial property development and significant strategic cross-border investments and business ventures.
- Acted as the counsel for the issuer in relation to its proposed establishment of an employees’ shares option scheme of more than 10% of the total number of issued ordinary shares of the issuer to selected/eligible employees and officers. The exercise involved a number of structuring aspects and considerations, especially in view of applicable tax and commercial factors.
Naqiz & Partners
Providing expertise in areas such as foreign direct investment, due diligence and company formation, the corporate and M&A team at Naqiz & Partners handles work on behalf of both PLCs and MNCs. It is led by former licensed company secretary Khairul Ismail and includes senior associate Iman Ishak who focuses on infrastructure and renewable energy projects. It recently assisted Rev Asia with the sale and purchase of some 20% of the share capital of Maxoom.
Other key lawyers:
Peter Ling leads the offering in corporate and M&A at Peter Ling & van Geyzel. Known for cross-border work across a range of industries, the team advises a wide range of domestic and international companies on a range of acquisitions and divestments. Its client list features OCK Group and G3 Global, key market players who benefit from its lateral expertise in capital markets.
G3 Global Berhad
MMAG Holdings Berhad
MSCM Holdings Berhad
OCK Group Berhad
- Advised MMAG Holdings Berhad on a RM41.0 million acquisition by its subsidiary MGudang Sdn Bhd.
- Advised OCK Group Berhad in the RM31.65 million acquisition by its subsidiary Milab Marketing Sdn Bhd of renewable energy power generation company Green Leadership Sdn Bhd.
- Advised OCK Group Berhad in the RM12.5 million acquisition by its subsidiary Milab Marketing Sdn Bhd of Solar System & Power Sdn Bhd, which is principally involved in the research and development and production of solar and renewable energy.
Raja, Darryl & Loh
Directed by Chew Phye Keat, the corporate and M&A team at Raja, Darryl & Loh has recently worked on a substantive number of cases for foreign entities. Known for its expertise in due diligence, it complements this with relevant lateral experience in IP, telecommunications, tax and employment/industrial relations. Chu Wei Tai, Joyce Teh and Chong Kok Seng are respectively experienced in cross-border matters, and acquisitions in the healthcare and software sectors.
MAA Group Berhad
- Advising a client on the acquisition of 7 Malaysian companies that are involved in the logistics business.
- Assisting our client that is acquiring the business of a well-known higher education institution in the Klang Valley which is part of a larger group of companies.
Headed by Tay Chai, the corporate and M&A team at Tay & Partners counts AirAsia and Telenor ASA within its varied client portfolio. In addition, it assists interests in sectors such as retail and distribution, food and beverages, electronics and technology, manufacturing, education and construction. Specific areas covered include: public takeovers, foreign direct investments, venture capital, regulatory compliance and corporate restructuring. Notably, the firm routinely advises Singapore-based business on expansion into Malaysia. Wai Sum Teo and Hong Yun Chang are key names to note.
DXC Technology Company
Topwin Investment Holding Pte Ltd
Avery Dennison Corporation
Hengbao International Pte. Ltd
Gamuda Berhad, Lingkaran Trans Kota Holdings Berhad, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd, Kesas Holdings Berhad and Projek SMART Holdings Sdn Bhd
Operating from Kuala Lumpur and Sungei Petani, the corporate and M&A team at Wong Beh & Toh includes joint ventures practitioner Cynthia Toh and equity/due diligence expert Lin Lin Yeap. The firm recently assisted UWC Berhad with its initial public offering and listing on the Main Market of Bursa Malaysia Securities.
The corporate and M&A team at Zul Rafique & Partners has experience assisting local and international clients on a broad range of deals. In particualr, it assists with cross-border and domestic mergers, acquisitions, joint ventures, takeovers and restructuring. The group is led by Jerry Ong and David Lee Lai Huat and covers industries such as insurance, finance, telecommunications, real estate and education.
The corporate team at Jeff Leong, Poon & Wong covers a range of M&A transactions and corporate governance issues. Specifically, banking, financial services, real estate and manufacturing matters are all pursued by a team led by capital markets expert Jeff Leong, Kenny Poon (who frequently handles IPOs) and real estate specialist James Wong.
Two leads direct the corporate and M&A offering at Koh Dipendra Jeremiah Law: Jeremiah Gurusamy and Mike Lee Seang Yik. Working closely with the creative industry, it also handles cases in the advertising, finance, engineering, debt collection, education and healthcare arenas. Core areas of expertise include: due diligence, commercial contracts, joint ventures, public-private partnerships and regulatory compliance. Mamee-Double Decker and Privasia Technology are recent client wins in a portfolio that also includes citizenM and Shaw Brothers. The team has been described as 'efficient beyond measure' and includes arbitration specialist H R Dipendra.
Other key lawyers:
‘Efficient beyond measure, detailed and meticulous and the partners liase directly with the clients which shows that they are hands on and not leaving things to their LAs‘.
‘Mike always accommodates our needs‘.
‘Jeremiah and Dipendra: they study the cases themselves and I can always call them at any time to get updates, advice and give instructions‘.
Lim Jo Yan & Co
Directed by 'top class lawyer' Lim Jo Yan, the corporate and M&A team at Lim Jo Yan & Co handles sector work in various industries. In particular, it counts OpenLearning, Caterpillar Financial Services and ACA Investments as recent client wins for a portfolio that also includes Navis Capital Partners and Marco Polo Marine. The team also handles sensitive matters on behalf of public figures. Associate Teoh Huei Wen is the name to note for complex transactional work.
Other key lawyers:
‘We have been working with Jo Yan and his team for a number of years. They are very responsive and knowledgeable in their area of expertise, always giving sound advice with a personalised approach.‘
‘The team is very professional and knowledgeable. They have experience in dealing with multinational companies contracting with local or international firms. They provided solutions that met our business objectives and worked very quickly to resolve problems‘.
‘The team has fantastic turnaround time and a sharp legal mind‘.
‘Quick response with very professional legal advice made simple for people with non-legal backgrounds. The team is very cohesive and cooperative and very knowledgeable. They are honest with their opinions and advice‘.
‘Jo Yan delivered an ‘extra mile’ service by providing suggestions that were out of the scope of the original work. This helped overcome issues faced by foreign investors that are not familiar with the idiosyncrasies peculiar to the Malaysian corporate landscape‘.
‘Jo Yan is a top class lawyer who understands client needs and his advice is commercial and practical‘.
‘Jo Yan and Huei Wen were both excellent to work with: professional, knowledgeable and dedicated‘.
‘Lim Jo Yan is amiable, friendly and able to explain in simple terms complicated legal opinions. He ensures that work done by the team meets the highest standards before it goes to the customer. He is very knowledgeable, competent, very professional with the highest level of integrity‘.
The corporate and M&A offering at Shook Lin & Bok is led by Ivan Yue Chan Ho, a partner with notable experience in sector disposals. In broad terms, the team handles issues such as: incorporation of new companies, leveraged buy-outs, joint ventures, IPOs, share option schemes, reconstructions and restructurings. Jalalullail Othman provides experience with both onshore and cross border clients and is particularly known for facilitating commercial collaborations.
Other key lawyers:
Josephine, L K Chow & Co
At Josephine, LK Chow & Co, the corporate and M&A team is directed by Josephine Ng Bee Leng (Petaling Jaya) and Yip Huen Weng (Kuala Lumpur). In broad terms, the offering covers strategic advice and the drafting of agreements for joint ventures, manufacturing, the sale of goods and share capital reduction. The 'speedy and professional' senior associate Jeanne Liew Shwu Jin is recommended.
Other key lawyers:
‘Quick responses to issues in many fields. In particular, their deep knowledge relating to Japanese companies’ in Malaysia is appreciated‘.
‘They pursue a multitude of approaches in order to help their clients. Notably, Jeanne Liew is very good: speedy and professional‘.