Adnan Sundra & Low > Kuala Lumpur, Malaysia > Firm Profile

Adnan Sundra & Low
Level 25, Menara Etiqa
No. 3, Jalan Bangsar Utama 1
59000
Malaysia

Malaysia > Banking and finance Tier 1

Adnan Sundra & Low‘s practice regularly advises both lenders and borrowers on debt and structured finance; it has a strong track record of negotiating and structuring complex financial structures, both conventional and Islamic. Deepak Sadasivan, who has experience in project finance, recapitalisations and loan facilities, jointly leads the team with capital markets expert Adrian Chee and Putri Norlisa, who is recommended for debt securities financing and Sukuk issuances. Up-and-coming partner Jennifer Lee is noted for her work in banking and project finance transactions, including asset-backed securitisation transactions and other structured finance transactions.

Testimonials

‘Customised solutions, a wealth of domestic experience and knowledge.’

‘Dedicated, sound advice and good to have in your corner.’

Key clients

Maybank Investment Bank Berhad

Merrill Lynch (Singapore) Pte Ltd

CIMB Investment Bank Berhad

Hong Leong Investment Bank Berhad

OCBC Al-Amin Bank (Malaysia) Berhad

HSBC Amanah Malaysia Berhad

AmInvestment Bank Berhad

United Overseas Bank (Malaysia) Bhd

RHB Investment Bank Berhad

Kerian Solar Sdn Bhd

Synthomer plc

Credit Suisse Securities (Malaysia) Sdn Bhd

Credit Suisse (Singapore) Limited

JPMorgan Securities (Malaysia) Sdn Bhd

UBS Securities Malaysia Sdn Bhd

UBS AG, Singapore Branch

Kenanga Investment Bank Berhad

AmBank Islamic Berhad

AmBank (M) Berhad

Citigroup Global Markets Limited

Hongkong and Shanghai Banking Corporation Limited

Malayan Banking Berhad

MUFG Securities Asia Limited

Work highlights

  • Advised Maybank Investment Bank Berhad on Islamic medium term notes programme of RM10.0bn in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar by Bank Kerjasama Rakyat Malaysia Berhad via a special purpose company, Imtiaz Sukuk II Berhad.
  • Advised Merrill Lynch Singapore, Citigroup, HSBC, Maybank and MUFG on PETRONAS Capital Limited’s $6bn bonds issuance.
  • Advised (i) CIMB Investment Bank Berhad, (ii) Hong Leong Investment Bank Berhad and (iii) OCBC Al-Amin Bank (Malaysia) Berhad on Perpetual Sukuk Wakalah Programme of up to RM3bn by TG Excellence Berhad.

Malaysia > Capital markets Tier 1

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.

Other key lawyers:

Key clients

Maybank Investment Bank Berhad

Merrill Lynch (Singapore) Pte Ltd

CIMB Investment Bank Berhad

Hong Leong Investment Bank Berhad

OCBC Al-Amin Bank (Malaysia) Berhad

HSBC Amanah Malaysia Berhad

AmInvestment Bank Berhad

United Overseas Bank (Malaysia) Bhd

RHB Investment Bank Berhad

Kerian Solar Sdn Bhd

Synthomer plc

Credit Suisse Securities (Malaysia) Sdn Bhd

Credit Suisse (Singapore) Limited

JPMorgan Securities (Malaysia) Sdn Bhd

UBS Securities Malaysia Sdn Bhd

UBS AG, Singapore Branch

Kenanga Investment Bank Berhad

AmBank Islamic Berhad

AmBank (M) Berhad

Citigroup Global Markets Limited

Hongkong and Shanghai Banking Corporation Limited

Malayan Banking Berhad

MUFG Securities Asia Limited

Work highlights

  • Advised Maybank Investment Bank Berhad on Islamic medium-term notes programme of RM10.0 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar by Bank Kerjasama Rakyat Malaysia Berhad via a special purpose company, Imtiaz Sukuk II Berhad.
  • Advised Merrill Lynch Singapore, Citigroup, HSBC, Maybank and MUFG on PETRONAS Capital Limited’s USD6billion bonds issuance.
  • Advised CIMB Investment Bank Berhad, Hong Leong Investment Bank Berhad and OCBC Al-Amin Bank (Malaysia) Berhad on Perpetual Sukuk Wakalah Programme of up to RM3 billion by TG Excellence Berhad.

Malaysia > Islamic finance Tier 1

The Islamic finance practice at Adnan Sundra & Low has extensive experience in advising Syariah-compliant funding structures, regularly advising on exchangeable Sukuk issuances, Islamic stapled securities transactions, municipal bonds employing parallel Mudharabah structures and Islamic-compliant derivatives. The group is highly recommended for work involving debt securities for infrastructure financing, real property securitisation exercises and issuances of Sukuk by investment trusts. Adrian Chee, Deepak Sadasivan and Putri Norlisa jointly head the practice which also includes Gan Kok Ling who advises on the issue of debt securities for the financing of several infrastructure and energy projects, and Edward NG who handles debt capital markets financing and structured finance transactions.

Key clients

CIMB Investment Bank Berhad

Hong Leong Investment Bank Berhad

OCBC Al-Amin Bank (Malaysia) Berhad

HSBC Amanah Malaysia Berhad

AmInvestment Bank Berhad

United Overseas Bank (Malaysia) Bhd

RHB Investment Bank Berhad

Maybank Investment Bank Berhad

AmBank Islamic Berhad

AmBank (M) Berhad

Work highlights

  • Advised Maybank Investment Bank Berhad on Islamic medium term notes programme of RM10.0 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar by Bank Kerjasama Rakyat Malaysia Berhad via a special purpose company, Imtiaz Sukuk II Berhad.
  • Advised (i) CIMB Investment Bank Berhad, (ii) Hong Leong Investment Bank Berhad and (iii) OCBC Al-Amin Bank (Malaysia) Berhad on Perpetual Sukuk Wakalah Programme of up to RM3 billion by TG Excellence Berhad.
  • Advised HSBC Amanah Malaysia Berhad on ASEAN Green Islamic Medium Term Notes (“ASEAN Green SRI Sukuk Wakalah”) of up to RM260.0 million in nominal value based on the shariah principle of Wakalah Bi Al-Istithmar and Murabahah (via Tawarruq arrangement) under the Asean Green Bond Standards by Leader Energy Sdn Bhd.

Malaysia > Corporate and M&A Tier 2

The corporate and commercial practice at Adnan Sundra & Low has a strong offering across M&A, joint ventures and other transactions and corporate governance. Adrian Chee has experience in the manufacturing, oil and gas, telecoms and financial services industries; he jointly heads the team with Wong Chin Chin, who advises on privatisation and restructuring; project and development expert Adrian Chair; and equity raising specialist Tracy Ng Tsu Ynn.

Other key lawyers:

Testimonials

‘The team is able to look at the project from a wholistic angle and advise accordingly from an legal and commercial perspective, especially for complex M&A structures’.

‘The individuals are forward thinking, advising on matters which may potentially arise from the decisions that the company proposes to make.’

Key clients

Kerian Solar Sdn Bhd

CIMB Investment Bank Berhad

Maybank Investment Bank Berhad

RHB Investment Bank Berhad

Credit Suisse Securities (Malaysia) Sdn Bhd

Credit Suisse (Singapore) Limited

JPMorgan Securities (Malaysia) Sdn Bhd

J.P. Morgan Securities plc

UBS Securities Malaysia Sdn Bhd

UBS AG, Singapore Branch

AmInvestment Bank Berhad

Hong Leong Investment Bank Berhad

Kenanga Investment Bank Berhad

Tesco plc

Paramount Corporation Berhad

Maxis Broadband Sdn. Bhd

Petroliam Nasional Berhad

Taliworks Corporation Berhad

Kenanga Investment Bank Berhad

AmBank Islamic Berhad

AmBank (M) Berhad

Work highlights

  • Advised (i) CIMB Investment Bank Berhad, (ii) Maybank Investment Bank Berhad,(iii) RHB Investment Bank Berhad,(iv) Credit Suisse Securities (Malaysia) Sdn Bhd, (v) Credit Suisse (Singapore) Limited, (vi) JPMorgan Securities (Malaysia) Sdn Bhd, (vii) J.P. Morgan Securities plc, (viii) UBS Securities Malaysia Sdn Bhd, (ix) UBS AG, Singapore Branch,(x) AmInvestment Bank Berhad, (xi) Hong Leong Investment Bank Berhad, and (xii) Kenanga Investment Bank Berhad on the Initial Public Offering of Mr D.I.Y Group (M) Berhad.
  • Advised Maxis Broadband Sdn. Bhd for the joint development and sharing of fibre infrastructure between Maxis Broadband Sdn. Bhd., Celcom Axiata Berhad and Digi Telecommunications Sdn. Bhd.
  • Acted as the local counsel and advised Tesco plc on the disposal by Tesco plc of its businesses in Thailand and Malaysia to Thailand’s CP Group entities.

Malaysia > Projects and energy Tier 2

Adnan Sundra & Low has a strong record advising on public-private partnerships and major infrastructure projects, including power plants, rail projects and undersea construction. The practice is seeing significant growth in renewable energy projects. As well as domestic mandates, the team regularly advises on international projects in Australia and Southeast Asia. Adrian Chair Yong Huang advises on landmark projects and developments as well as project financing; he jointly heads the practice with Khem Thadani, who is a prominent name for infrastructure and integrated commercial projects. NG Jo-Leen is noted for her experience in project finance transactions.

Key clients

Kerian Solar Sdn Bhd

RHB Investment Bank Berhad

HSBC Amanah Malaysia Berhad

CIMB Investment Bank Berhad

Maybank Investment Bank Berhad

Petroliam Nasional Berhad

Taliworks Corporation Berhad

AmInvestment Bank Berhad

Maxis Broadband Sdn. Bhd

Work highlights

  • Advised Kerian Solar Sdn Bhd on the development and financing of 100MW Large Scale Solar Plant by Kerian Solar Sdn Bhd, joint venture between French utility giant ENGIE and TTL Energy Sdn Bhd.
  • Advised Maxis Broadband Sdn. Bhd on the joint development and sharing of fibre infrastructure between Maxis Broadband Sdn. Bhd., Celcom Axiata Berhad and Digi Telecommunications Sdn. Bhd.
  • Advised HSBC Amanah Malaysia Berhad on the ASEAN Green SRI Sukuk Wakalah of up to RM260.0 million by Leader Energy Sdn Bhd.

 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

DepartmentNameEmailTelephone
Banking and finance Rodney D'Cruzrodney.dcruz@asl.com.my
Capital markets
Islamic finance
Corporate M&A
Dispute resolution
Real estate
Projects Energy & Infrastructure
Number of lawyers : 63
Bahasa Malaysia
English

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.

Joint Press Statement – 3rd September 2018

Messrs 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