Adnan Sundra & Low > Kuala Lumpur, Malaysia > Firm Profile
Adnan Sundra & Low Offices
Level 25, Menara Etiqa
No. 3, Jalan Bangsar Utama 1
59000
Malaysia
Profiles
Adnan Sundra & Low > The Legal 500 Rankings
Malaysia > Banking and finance Tier 1
Adnan Sundra & Low has a fully-rounded banking and finance practice and remains at the forefront of the Islamic finance segment. The firm’s excellence in this market has led to further growth in green and sustainability-linked financings, debt restructurings and acquisition finance engagements. It also continues to work on a steady pipeline of syndicated financings, bilateral loans and club deals, along with a number of project financings. It represents most of the major banks in Malaysia, a range of listed companies, along with private equity portfolio companies. Deepak Sadasivan is a market leader in banking and finance and capital markets transactions, including Sukuks, as are Adrian Chee and Putri Norlisa, who have a fine record in Islamic finance instruments.Practice head(s):
Deepak Sadasivan; Adrian Chee; Putri Norlisa
Other key lawyers:
Jennifer Lee; Gan Kok Ling; Edward NG Foo Yuen; Goh Chai Ling
Key clients
AmInvestment Bank Berhad
Bank Pembangunan Malaysia Berhad
BNP Paribas
CIMB Investment Bank Berhad
Citigroup Global Markets Limited
DBS Bank Ltd
Government of Malaysia
Groupe Solmax Inc
Hongkong and Shanghai Banking Corporation Limited
Hong Leong Investment Bank Berhad
JP Morgan
Malayan Banking Berhad
Malaysia Wakala Sukuk Berhad
Maybank Investment Bank Berhad
Maybank Islamic Berhad
Merrill Lynch (Singapore) Pte Ltd
MIDF Amanah Investment Bank Berhad
MUFG Securities Asia Limited
OCBC Al-Amin Bank Berhad
OCBC Bank (Malaysia) Berhad
RHB Investment Bank Berhad
United Overseas Bank (Malaysia) Berhad
HSBC Bank Malaysia Berhad
AmBank Islamic Berhad
AmBank (M) Berhad
HSBC Amanah Malaysia Berhad
Work highlights
- Advised Malaysia Wakala Sukuk Berhad and Government of Malaysia on the world’s first sovereign US dollar sustainability Sukuk Issuance by the Government of Malaysia.
- Advised Hong Leong Investment Bank, OCBC Bank (Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd on Infracap Resources Sdn Bhd’s Sukuk Murabahah programme.
- Advised RHB Investment Bank Berhad, AmInvestment Bank Berhad, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad on Small Medium Enterprise Development Bank Malaysia Berhad’s sustainable Sukuk.
Malaysia > Capital markets Tier 1
Managing partner Deepak Sadasivan and Adrian Chee Meng Yang, who have demonstrable experience in Shariah-compliance matters, lead the offering at Adnan Sundra & Low alongside Putri Norlisa Najib, Edward Ng Foo Yuen, Wong Chin Chin, Tracy Ng Tsu Ynn, Jennifer Lee Tze-Hui and Chua Ee Ghee. In addition to working on the conventional corporate structures for local and international clients, there is a niche focus in the team on Islamic finance and capital markets. The practice is equipped to advise on IPOs, primary and secondary placement transactions, M&A, and ESG standards. Key clients include large Malaysian investment banks and equity capital markets specialist Justin Chua has the ‘knowledge to ensure that all issues are resolved’ in his cases.Practice head(s):
Deepak Sadasivan; Putri Norlisa Najib; Edward Ng Foo Yuen; Wong Chin Chin; Tracy Ng Tsu Ynn; Adrian Chee Meng Yang; Jennifer Lee Tze-Hui; Chua Ee Ghee
Other key lawyers:
Justin Chua; Dilys Tan Yee Yeh; Gan Kok Ling; Murni Zuyati Zulkifli Aziz; Goh Chai Ling
Testimonials
‘Adnan Sundra & Low have been a key counsel for various capital markets transactions we have been involved in. They provide sound advice on issues with practical solutions, to ensure the agreements are negotiated by both parties with ease.’
‘Adnan Sundra & Low is our preferred counsel on all transactions, as they have the knowledge and understanding beyond others. The working relationship, from negotiation to the end of the transaction, including billing, is completed professionally and promptly.’
‘The working relationship with this team is seamless as they are familiar with the standards required by our institution and therefore able to provide the best advice. Justin Chua is directly involved in all of our transactions wherein major issues or pushbacks arise from the other party, is always available and has the knowledge to ensure that the issues are resolved. We are appreciative of their partnership.’
Key clients
AmInvestment Bank Berhad
BNP Paribas
CIMB Investment Bank Berhad
Citigroup Global Markets Limited
Credit Suisse Securities (Malaysia) Sdn Bhd
Credit Suisse (Singapore) Limited
CTOS Digital Berhad
DBS Bank Ltd
Fusang Corp
Government of Malaysia
Hongkong and Shanghai Banking Corporation Limited
Hong Leong Investment Bank Berhad
JPMorgan Securities (Malaysia) Sdn Bhd
J.P. Morgan Securities Plc
M&A Securities Sdn Bhd
Malayan Banking Berhad
Malaysia Wakala Sukuk Berhad
Maybank Investment Bank Berhad
Merrill Lynch (Singapore) Pte Ltd
MIDF Amanah Investment Bank Berhad
MUFG Securities Asia Limited
OCBC Al-Amin Bank Berhad
OCBC Bank (Malaysia) Berhad
RHB Investment Bank Berhad
United Overseas Bank (Malaysia) Berhad
HSBC Amanah Malaysia Berhad
Work highlights
- Advised Malaysia Wakala Sukuk Berhad and the Government of Malaysia on world’s first sovereign US dollar sustainability Sukuk issuance by the Government of Malaysia of value up to $1.3bn.
- Advised Hong Leong Investment Bank, OCBC Bank (Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd on Infracap Resources Sdn Bhd’s Sukuk Murabahah programme of up to RM15bn in nominal value under the Shariah principle of Murabahah.
- Advised CTOS Digital Berhad on its IPO.
Malaysia > Islamic finance Tier 1
Adnan Sundra & Low standouts for its expertise in Islamic finance, advising on a high proportion of Sukuk issuances in Malaysia year on year. The firm is a leader in Sukuk issuances globally. It acts for banks operating in the Islamic finance sphere in Malaysia, along with major issuers. The firm is now at the forefront of sustainability-linked Islamic finance and recently acted for Malaysia Wakala Sukuk Berhad and the Government of Malaysia on the world’s first sovereign US dollar sustainability Sukuk issuance by the Government of Malaysia. Adrian Chee Meng Yang and Deepak Sadasivan, who are outstanding practitioners in the field, lead the practice alongside Kim Lim, Hairolnisah Hamdan and Putri Norlisa Najib.Practice head(s):
Deepak Sadasivan; Kim Lim; Hairolnisah Hamdan; Putri Norlisa Najib; Adrian Chee Meng Yang
Other key lawyers:
Gan Kok Ling; Rodney D’Cruz; Edward Ng; Jerry Tiew
Key clients
AmInvestment Bank Berhad
Bank Pembangunan Malaysia Berhad
CIMB Investment Bank Berhad
Government of Malaysia
Hong Leong Investment Bank Berhad
Malaysia Wakala Sukuk Berhad
Maybank Investment Bank Berhad
Maybank Islamic Berhad
MIDF Amanah Investment Bank Berhad
OCBC Al-Amin Bank Berhad
OCBC Bank (Malaysia) Berhad
RHB Investment Bank Berhad
United Overseas Bank (Malaysia) Berhad
AmBank Islamic Berhad
HSBC Amanah Malaysia Berhad
Work highlights
- Advised Malaysia Wakala Sukuk Berhad and the Government of Malaysia on world’s first sovereign US dollar sustainability Sukuk issuance by the Government of Malaysia.
- Advised Hong Leong Investment Bank, OCBC Bank (Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd on Infracap Resources’ Sukuk Murabahah programme.
- Advised RHB Investment Bank Berhad, AmInvestment Bank Berhad, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad on Small Medium Enterprise Development Bank Malaysia’s sustainable Sukuk.
Malaysia > Corporate and M&A Tier 2
Adnan Sundra & Low has a strong track record in advising on M&A and corporate matters, with core competencies including banking and finance, capital markets and Islamic finance. Recent highlights for the practice include advising on the establishment of the first Shariah compliant unlisted real estate investment trust. Adrian Chee and Wong Chin Chin advise financial institutions, insurance companies and manufacturers, while Tracy Ng Tsu Ynn is primarily involved in equity fund raising and corporate advisory matters. Putri Norlisa Najib focuses on banking and finance and How Tze Yen is experienced in commercial contracts, such as licensing agreements. All named practitioners collectively lead the team.Practice head(s):
Adrian Chee; Wong Chin Chin; Tracy Ng Tsu Ynn; Putri Norlisa Najib; How Tze Yen
Key clients
Apricus Global Pte. Ltd
Axiata Group Berhad
Bridgetown 2 Holdings Limited
edotco Malaysia Sdn Bhd
Groupe Solmax Inc
The Longreach Group Limited
Work highlights
- Advised Axiata Group Berhad on the proposed merger of the telco operations of Celcom Axiata Berhad and Digi.com Berhad.
- Advised Groupe Solmax Inc on the acquisition of TenCate Geosynthetics Holding B.V., from Dutch conglomerate Koninklijke Ten Cate by Groupe Solmax Inc.
- Advised Bridgetown 2 Holdings Limited on proposed merger of a Southeast Asian online realty company PropertyGuru Pte. Ltd. with Bridgetown 2 Holdings Limited.
Malaysia > Projects and energy Tier 2
Adnan Sundra & Low’s workload includes high-end M&As across the oil and gas, and renewable energy sectors, in addition to infrastructure projects, including power plants and undersea construction. The team is well-placed to leverage the expertise of the firm’s banking and finance, capital markets, civil aviation, and corporate and commercial groups. Adrian Chair, who has experience in project finance work and handles matters pertaining to petrochemical storage facilities, jointly leads the practice alongside Khem Thadani, who advises on a range of infrastructure projects, from water treatment and cement plants to mining and oil and gas. Adrian Chee Meng Yang and NG Jo-Leen focus on project financings and transactional work.Practice head(s):
Adrian Chair; Khem Thadani
Other key lawyers:
Adrian Chee Meng Yang; NG Jo-Leen
Key clients
Axiata Group Berhad
Bank Pembangunan Malaysia Berhad
CIMB Investment Bank Berhad
edotco Malaysia Sdn Bhd
Hong Leong Investment Bank
Maybank Islamic Berhad
OCBC Bank (Malaysia) Berhad
United Overseas Bank (Malaysia) Bhd
Work highlights
- Advised Bank Pembangunan Malaysia Berhad on Pulau Indah 1,200 MW Combined Cycle Gas Turbine Power Plant.
- Advised Axiata Group Berhad on the proposed merger of the telco operations of Celcom Axiata Berhad and Digi.com Berhad.
- Advised Hong Leong Investment Bank, OCBC Bank (Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd on Infracap Resources Sdn Bhd’s Sukuk murabahah programme of up to RM15.0 billion.
Employment >
Adnan Sundra & Low > Firm Profile
The firm: ADNAN SUNDRA & LOW was established in August 1975 and has been consistently ranked as a leading law firm in Malaysia with a reputation for delivering quality and effective legal services and solutions.
Main areas of practice
Banking and finance, capital markets, Islamic finance: Our team has advised on local and cross-border banking and finance transactions, inclusive of acquisition finance, corporate finance, project finance, debt restructuring, and the following market-pioneering transactions:
- the world’s first, and Malaysia’s largest, exchangeable sukuk
- the world’s first perpetual sukuk
- the world’s first Green SRI sukuk
- Malaysia’s first Islamic stapled securities transaction
- Malaysia’s first municipal bonds
- project financing of the first independent power utility in Malaysia and the first coal-fired independent power plant in Malaysia, also the biggest in Southeast Asia
- many significant Malaysian IPOs including Malaysia’s largest IPOs in 2015 and 2017, Asia’s largest IPO in 2012 and Southeast Asia’s largest IPOs in 2009 and 2010.
Corporate M&A: Our team is able to advise on a full range of corporate advisory issues, and our track record includes advising on:
- establishment of the first Shariah compliant unlisted real estate investment trust (REIT), which is also the first education REIT in Malaysia
- the joint venture between Malaysia’s largest petroleum company and a Saudi-Arabian petroleum company in relation to a US$7bn investment in a refinery and petrochemical integrated development project in Malaysia
- the acquisition of the first deepwater semi-submersible floating production system in the Asia Pacific region
- a global agribusiness and food company’s US$1bn acquisition of a majority interest in a specialty fats/edible oils producer from a leading Malaysian plantation group
- a merger between hypermarket operators creating the third-largest hypermarket operator in Malaysia
- a number of mergers between Malaysian banking and financial institutions
- corporate debt restructuring schemes under section 176 of the Malaysian Companies Act 1965 and 2016
Dispute resolution: Our team has represented most major Malaysian financial institutions and is experienced in handling a broad range of complex banking, contractual, commercial, employment, restructuring and insolvency matters in Malaysian courts and arbitration tribunals in Malaysia and worldwide. Our notable work includes:
- acting for Malaysia’s largest bank in obtaining vesting orders effecting the ownership transfer of non-performing loans, part of the first ever sale of non-performing loans in Malaysia via open auction
- acting for the applicant in the issuance of the first ever High Court order preventing a party or its nominees from using a restraining order under section 176(10) (A) of the Companies Act 1965 to delay the rights of a lender or security holder
- acting for the security trustee in a foreclosure action resulting in the first ever decision of an Malaysian appellate court affirming a chargee’s right to exclude a structure (where individual titles have not been issued) from foreclosure of the master title
- obtaining an order for the appointment of a receiver and manager over a missing person’s estate
Real estate: Our real estate practice is premised on ensuring that clients benefit commercially from real estate opportunities and we had advised a number of specialist real estate transactions including:
- the joint development of over 110 acres of land, which include the construction and sale of residential units, retail units, hotels, service apartments, office towers, commercial shops and offices
- the sale and transfer of iconic national landmark structures in Kuala Lumpur between the holding company and its group real estate investment trust
- complex land issues in the listings of significant listed property development companies and palm-oil plantation companies, involving some 350,000 hectares of land held under more than 1,200 titles
- the sale and purchase of a five-star international hotel and hotel business in Kuala Lumpur
Projects energy and infrastructure: Our projects energy and infrastructure team has advised on some of the largest and most sophisticated projects which include the following:
- the proposed Kuala Lumpur-Singapore High Speed Rail Project
- a foreign joint venture on the Ipoh-Rawang Double Track Rail electrification project
- the development and financing of a 50MW solar photovoltaic plant in Malaysia
- the divestment of the the largest multi fuel integrated power generating facility (2,420MW), with a transaction value of MYR4.2bn
- the delivery of electrical energy and telecommunications from a hydroelectric dam in Sarawak to Peninsular Malaysia by submarine power cables
- the Klang Valley Mass Rapid Transit Project
- a 2,400MW hydroelectric dam in Sarawak
- a 2,100 MW Coal-Fired Power Plant
- the North-South Highway in Peninsular Malaysia. We have also advised on projects located in Australia, Africa, the Indian Subcontinent, Southeast Asia and Central Asia
Recent awards and accolades
- Malaysian Law Firm Of The Year – Asian Legal Business Malaysia Law Awards 2016
- West Malaysia Law Firm Of The Year – ALB Malaysia Law Awards 2017, 2018
- National Law Firm Of The Year – International Financial Law Review Asia Awards, 2007, 2014
- Islamic Finance Law Firm Of The Year – ALB Malaysia Law Awards 2016, 2017, 2018
- Banking and Financial Services Law Firm of the Year – ALB Malaysia Law Awards 2014, 2015, 2016, 2017 and 2018
- Islamic Finance News (IFN) Law Awards 2018 – ESG, Green, SRI Law Firm of the Year
- IFN Deals of the Year Awards 2017 – Commodity Murabahah Deal of the Year 2017, Equity Deal Of The Year 2017, Structured Finance Deal Of The Year and Project & Infrastructure Deal Of The Year
www.asl.com.my
Tel: 603 2070 0466
Fax: 603 2078 3382
Managing partner: Deepak Sadasivan
Number of partners: 26
Number of consultants: 3
Number of lawyers: 63
Main Contacts
Department | Name | Telephone | |
---|---|---|---|
Banking and finance | Rodney D'Cruz | rodney.dcruz@asl.com.my | |
Capital markets | |||
Islamic finance | |||
Corporate M&A | |||
Dispute resolution | |||
Real estate | |||
Projects Energy & Infrastructure |
Staff Figures
Number of lawyers : 63Languages
Bahasa Malaysia EnglishAdnan Sundra & Low > Firm Profile
ADNAN SUNDRA & LOW
www.asl.com.my
tel: 603 2070 0466 fax: 603 2078 3382
Managing Partner(s): Deepak Sadasivan
Number of partners: 26 Number of Consultants: 3 Number of Lawyers: 63
Firm overview:
ADNAN SUNDRA & LOW was established in August 1975 and has been consistently ranked as a leading law firm in Malaysia with a reputation for delivering quality and effective legal services and solutions.
Main Areas Of Practice:-
Banking & Finance, Capital Markets, Islamic Finance
Our team has advised on local and cross-border banking and finance transactions, inclusive of acquisition finance, corporate finance, project finance, debt restructuring, and the following market-pioneering transactions:
- the world’s first, and Malaysia’s largest, exchangeable Sukuk;
- the world’s first perpetual sukuk ;
- the world’s first Green SRI sukuk;
- Malaysia’s first Islamic stapled securities transaction;
- Malaysia’s first municipal bonds;
- project financing of the first independent power utility in Malaysia and the first coal-fired independent power plant in Malaysia, also the biggest in Southeast Asia; and
- many significant Malaysian IPOs including Malaysia’s largest IPOs in 2015 and 2017, Asia’s largest IPO in 2012 and Southeast Asia’s largest IPOs in 2009 and 2010.
Corporate M&A
Our team is able to advise on a full range of corporate advisory issues, and our track record includes advising on :
- establishment of the first Shariah compliant unlisted real estate investment trust (REIT), which is also the first education REIT in Malaysia;
- the joint venture between Malaysia’s largest petroleum company and a Saudi-Arabian petroleum company in relation to a USD7 billion investment in a refinery and petrochemical integrated development project in Malaysia;
- the acquisition of the first deepwater semi-submersible floating production system in the Asia Pacific region;
- a global agribusiness and food company’s USD1 billion acquisition of a majority interest in a specialty fats/edible oils producer from a leading Malaysian plantation group;
- a merger between hypermarket operators creating the third-largest hypermarket operator in Malaysia;
- a number of mergers between Malaysian banking and financial institutions; and
- corporate debt restructuring schemes under section 176 of the Malaysian Companies Act 1965 and 2016.
Dispute Resolution
Our team has represented most major Malaysian financial institutions and is experienced in handling a broad range of complex banking, contractual, commercial, employment, restructuring and insolvency matters in Malaysian courts and arbitration tribunals in Malaysia and worldwide. Our notable work includes:
- acting for Malaysia’s largest bank in obtaining vesting orders effecting the ownership transfer of non-performing loans, part of the first ever sale of non-performing loans in Malaysia via open auction;
- acting for the applicant in the issuance of the first ever High Court order preventing a party or its nominees from using a restraining order under section 176(10) (A) of the Companies Act 1965 to delay the rights of a lender or security holder;
- acting for the security trustee in a foreclosure action resulting in the first ever decision of an Malaysian appellate court affirming a chargee’s right to exclude a structure (where individual titles have not been issued) from foreclosure of the master title; and
- obtaining an order for the appointment of a receiver and manager over a missing person’s estate.
Real Estate
Our real estate practice is premised on ensuring that clients benefit commercially from real estate opportunities and we had advised a number of specialist real estate transactions including:
- the joint development of over 110 acres of land, which include the construction and sale of residential units, retail units, hotels, service apartments, office towers, commercial shops and offices;
- the sale and transfer of iconic national landmark structures in Kuala Lumpur between the holding company and its group real estate investment trust;
- complex land issues in the listings of significant listed property development companies and palm-oil plantation companies, involving some 350,000 hectares of land held under more than 1,200 titles; and
- the sale and purchase of a five-star international hotel and hotel business in Kuala Lumpur.
Projects Energy & Infrastructure
Our projects energy and infrastructure team has advised on some of the largest and most sophisticated projects which include the following:
- the proposed Kuala Lumpur-Singapore High Speed Rail Project;
- a foreign joint venture on the Ipoh-Rawang Double Track Rail electrification project;
- the development and financing of a 50MW solar photovoltaic plant in Malaysia;
- the divestment of the the largest multi fuel integrated power generating facility (2,420MW), with a transaction value of MYR4.2 billion;
- the delivery of electrical energy and telecommunications from a hydroelectric dam in Sarawak to Peninsular Malaysia by submarine power cables;
- the Klang Valley Mass Rapid Transit Project;
- a 2,400MW hydroelectric dam in Sarawak;
- a 2,100 MW Coal-Fired Power Plant;
- the North-South Highway in Peninsular Malaysia;We have also advised on projects located in Australia, Africa, the Indian Subcontinent, Southeast Asia and Central Asia.
Recent Awards & Accolades
- Malaysian Law Firm Of The Year – Asian Legal Business Malaysia Law Awards 2016;
- West Malaysia Law Firm Of The Year – ALB Malaysia Law Awards 2017, 2018;
- National Law Firm Of The Year – International Financial Law Review Asia Awards, 2007, 2014;
- Islamic Finance Law Firm Of The Year – ALB Malaysia Law Awards 2016, 2017, 2018;
- Banking and Financial Services Law Firm of the Year – ALB Malaysia Law Awards 2014, 2015, 2016, 2017 and 2018;
- Islamic Finance News (IFN) Law Awards 2018 – ESG, Green, SRI Law Firm of the Year; and
- IFN Deals of the Year Awards 2017 – Commodity Murabahah Deal of the Year 2017, Equity Deal Of The Year 2017, Structured Finance Deal Of The Year and Project & Infrastructure Deal Of The Year.
Press Releases
Joint Press Statement – 3rd September 2018
4th September 2018Messrs Adnan Sundra & Low (“ASL”) and Messrs Khem Thadani (“KT”) are delighted to jointly announce the merger of both law firms with effect from 1 October 2018. This is the second merger announcement this August 2018 in relation to ASL, following the joint media statement dated 8 August 2018 announcing the merger between ASL and boutique law firm Messrs Putri Norlisa Chair.
Adnan Sundra & Low and Putri Norlisa Chair announce the merger
21st August 2018- Banking and finance
- Capital markets
- Islamic finance
Top Tier Firm Rankings
- Corporate and M&A
- Projects and energy