Malaysia is primarily serviced through our Singapore office and we are one of the few international practices that have broad-based multi-industry experience in Malaysia, working alongside Malaysian conglomerates and banks as well as governmental agencies.
Our lawyers have formed strong working relationships with several leading local law firms. We are able to provide seamless support on transactions in Malaysia or involving Malaysian companies/working with local law firms on Malaysian law matters. We have advised on numerous high-profile deals in Malaysia, with clients including the Government of Malaysia, local and international banks, project companies and corporates.
Recent examples of our work
Axiata Group Berhad, one of Asia's largest telecommunications companies, on the merger of its Bangladesh subsidiary, Robi Axiata, with Airtel Bangladesh, the Bangladesh subsidiary of Bharti Airtel, a leading India headquartered global telecommunications company. The merger will result in the formation of the second largest mobile telecommunications company in Bangladesh.
China Nuclear Power Corporation on its acquisition of all the energy assets of 1Malaysia Development Berhad for an enterprise value of MYR17bn – the biggest foreign direct investment in Malaysia.
Tenaga Nasional Berhad, the Malaysian state-owned power company, on its USD243m acquisition of a 30% interest in Gama Enerji, a leading Turkish power generation business, and joint venture with Gama Holding, IFC and IFC Global Infrastructure Fund. The acquisition is Tenaga Nasional Berhad’s first significant investment outside of Malaysia.
Maybank Investment Bank as coordinator of a consortium of 11 local, regional and international banks acting as mandated lead arrangers, on a USD2.3bn-equivalent Islamic facility to SapuraKencana Petroleum Berhad. This is the largest syndicated Islamic facility in the Malaysian market to date.
The project company in respect of the construction and financing of phase two of the Pengerang integrated terminal and deep-water port at the Refinery and Petrochemical Integrated Development in Johor, Malaysia.
The underwriters on the Government of Malaysia’s Rule 144A USD 1bn 10-year sukuk and USD500m 30-year sukuk. The sukuk employed a structure utilising Shariah-compliant vouchers and shares, and may be substituted for inter alia lease assets. A world first for a sovereign sukuk.
Cagamas Berhad on the establishment of a USD2.5bn multicurrency medium term note programme and subsequent issue of CNY1.5bn 3.7% notes due 2017 by Cagamas Global, a special purpose vehicle (SPV) incorporated in Labuan for the purpose of the programme. Cagamas is the first Malaysian corporate to issue “Tiger Emas” bonds, which refers to offshore renminbi bonds from Malaysia that are cleared and settled domestically via Rentas, which MyClear operates and manages. These “Tiger Emas” bonds are also the largest offshore renminbi bonds out of Malaysia, and the largest dim sum bond in Southeast Asia from a mortgage company.
CIMB, Bank of America Merrill Lynch, Deutsche Bank, DBS and Goldman Sachs on IHH Healthcare’s Rule 144A/Regulation S IPO and dual listing on Bursa Malaysia and the SGX-ST. This was the first IPO to be simultaneously listed on Bursa Malaysia and the SGX-ST.
Other Malaysian clients Allen & Overy or our lawyers have acted for include Khazanah Nasional, CIMB, UEM, Malaysia Airlines, Petronas, Genting, Sime Darby, YTL, Astra, Usaha Tegas and MISC.
Our Malaysia practice is top-ranked by the leading independent legal directories including Chambers, Legal500 and IFLR:
“Strong regional corporate practice with extensive expertise in handling deals relating to Malaysia. Particular strength in M&A transactions, regularly advising Malaysian entities on their international acquisitions and joint ventures.” Chambers Asia 2015 (Malaysia)
“The firm is repeatedly praised for its high level of client service, with one source reporting that "they have shown very good commitment on the job, and are willing to go beyond the call of duty”." Chambers Asia 2016 (Malaysia)
“Eminent projects practice, drawing upon its international network to provide a broad offering to high-profile clients. Acts for a host of large Malaysian companies in a range of project financings and large-scale infrastructure developments.” Chambers Asia 2016 (Malaysia)
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