Tag: kuala-lumpur
Written by John on 12 November 2013.
♦ Breaking BigLaw News ♦ Kuala Lumpur, Malaysia
Leading law firm WongPartnership has forged a strategic alliance with Malaysian boutique law firm, Foong & Partners. Malaysia will thus be WongPartnership’s fifth regional country in its network that spans the Middle East to China. The alliance will expand the footprint of both firms into two of the most dynamic markets in Asia, thereby enhancing their legal service with the firms’ combined experience, expertise and regional capabilities. Malaysia and Singapore have historically been two of the most closely-knit economies in the dynamic Asian region. Strong bilateral ties between both governments have been a powerful catalyst to a blossoming of cross-strait investment opportunities recently. Trade inflows have also come from around the world to tap on the synergies offered by both neighbours and their complementary strengths. Founded in 2003 in Kuala Lumpur, Foong & Partners focuses on high-end corporate commercial, capital markets and corporate finance work. It is headed by named partner Foong Chee Meng, who previously helmed the Corporate & Commercial and Foreign Investment practices of a leading Malaysian law firm. Prior to returning to Malaysia, Foong practised with an international law firm. Foong & Partners assists multinational and international corporations, public and private companies, and other business entities in various commercial transactions including cross-border and domestic mergers and acquisitions, takeovers, joint ventures and management buy-outs. Its capabilities in tier-one corporate and M&A transactions makes it an ideal partner with WongPartnership’s leading practice. WongPartnership is consistently top ranked in Asia by independent benchmarking publications, handling the largest and most complex transactions in the region. Its alliance with Foong & Partners will both complement and strengthen WongPartnership’s current pan-Asian offering, enabling the firm to provide clients with a powerful combination of international and local experience, know-how and on-the-ground resource. "With the closer economic relations between Singapore and Malaysia, WongPartnership has been acting in an increasing number of cross-border deals and we are excited to collaborate with a like-minded firm on these complex matters," said Senior Counsel Alvin Yeo, Senior Partner at WongPartnership. "Having worked alongside Foong & Partners on a number of transactions, including Tune Ins Holdings Bhd's recent initial public offering, we found a shared ethos of delivering unstinting high quality service to our clients. Our tie up with Foong & Partners will enable us to leverage on their Malaysian law capability to serve our clients in the ASEAN region and allow their Malaysian clients access to our regional experience in China, the Middle East and the rest of ASEAN." "Foong & Partners welcomes the opportunity to share and tap on the expertise that this alliance will bring," said Foong Chee Meng, managing partner at Foong & Partners. "Our firms have similar, yet complementary skills and experience on transactions on both sides of the Causeway. This alliance is mutually beneficial, with the increase in investment interest in Malaysia from clients not just from Singapore but from the region and beyond. Together, we are well poised to cater to sophisticated investors who expect seamless service in whichever market they choose to tap for growth and opportunities."
Written by John on 05 August 2013.
♦ Recent Deals ♦ Kuala Lumpur, Malaysia
Wong & Partners, the Malaysian member firm of Baker & McKenzie International, acted for BIMB Holdings Berhad ("BHB") in connection with the proposed acquisition of a 49% stake in Bank Islam Berhad, Malaysia's original Islamic bank, from the Dubai Financial Group LLC and Lembaga Tabung Haji for a total purchase consideration of approximately USD885 million (RM2.8 billion). Completion of the transaction is subject to shareholder and regulatory approvals and successful fund-raising by way of a rights issue (expected to raise RM1.536 billion) and a sukuk issuance (expected to raise RM1.471 billion). The total value of the deal, taking into account the fund raising aspects is therefore approximately RM6 billion. Partner Munir Abdul Aziz led the team, assisted by partner Wong Sue Wan and associate Adrian Wong on the M&A elements of the deal. The same team will also advise on the rights issue while partner Mark Lim and senior associate Esther Chik will advise Bank Islam (as lead arranger) in relation to the sukuk issuance. Munir, the Firm's corporate and commercial partner, said of their involvement in this matter, "It was a pleasure working with the BHB team. We are very pleased with the successful outcome of the deal and we are privileged to have had the opportunity to represent BHB on this landmark transaction." "We would like to thank Wong & Partners for working with us on this important transaction. Their input proved to be important in shaping and concluding the transaction and we appreciate the commitment that was put in by the team," said a BHB representative. Established in 1997, BHB acts as an investment holding company for Malaysia’s pioneer Shariah-compliant business entities, involve mainly in Islamic banking, takaful and stockbroking. Bank Islam is Malaysia’s maiden Shariah-based institution. It provides more than 70 innovative and sophisticated Islamic banking products and services to its customers through 130 branches and more than 1000 self-service terminals across the country.
Written by John on 11 July 2013.
♦ Breaking BigLaw News ♦ Kuala Lumpur, Malaysia, Petaling Jaya
Rajah & Tann has expanded its regional network in Malaysia through a strategic alliance with Christopher & Lee Ong, a full service law firm in Malaysia. Christopher & Lee Ong is the result of a merger involving three law firms namely Kamilah & Chong (formerly the associate office of Rajah & Tann), Lee Ong & Kandiah and Christopher Lee & Co, that comes into effect from this month. This merger brings together 44 fee earners and a total combined strength of 76 personnel. The new firm will be led by Joint Managing Partners Christopher Lee and Lee Hock Chye. Christopher & Lee Ong will provide Rajah & Tann's regional network with full local law capability to undertake practically all areas of law in Malaysia. Rajah & Tann has grown to be the largest law firm in South East Asia based on recognition from ranking publications. In addition to Malaysia, its network now spans regional offices and associate firms in China, the Middle East, Thailand, Lao PDR, Vietnam, Myanmar, Indonesia and Cambodia as well as regional desks focusing on Japan and South Asia. With this strategic alliance in Malaysia, Rajah & Tann moves another step closer to realising its vision of becoming an Asian firm seamlessly delivering a full range of local and cross-border legal services in multiple Asian jurisdictions.
Written by John on 03 July 2013.
♦ Recent Deals ♦ Australia, Kuala Lumpur, Malaysia, Melbourne, Sydney
Baker & McKenzie has acted on two major foreign acquisitions of Australian wind farms in the last week, both led by prominent renewable energy lawyer and partner Paul Curnow. The Firm advised Malaysia’s Malakoff Corporation Berhad on its purchase of a 50% equity interest in the $1.2billion Macarthur wind farm from Meridian Energy. Macarthur is a 450MW wind farm in Victoria – the largest in the southern hemisphere. The deal involved a large team of Baker & McKenzie lawyers in Sydney, Melbourne and Kuala Lumpur, led by Mr. Curnow, partner Sean Rush and senior associate Robyn Farrell (Project financing), partner John Walker and senior associate Miles Hurst (Tax), Property senior associate Kate Phillips, partner Abdul Aziz Munir (Kuala Lumpur), and associate Megan Flynn. Baker & McKenzie has also advised Thailand’s Electricity Generating Public Company (EGCO) on its acquisition of the $350million Boco Rock wind farm from Continental Wind Partners and GE Energy Financial Services. The Firm also advised on the project financing of the deal. Mr. Curnow, head of Baker & McKenzie’s Asia-Pacific Renewable Energy team said, "This is the first time the two Asian energy companies have invested in Australia and that the deals are another sign of 'the world’s increasing interest in Australia’s renewable energy sector.' We have seen growing interest by foreign investors in this space, particularly from Asian investors - and given Australia's 20% target we expect to see a lot more in the coming years.” The deal by EGCO also involved a large team of Baker & McKenzie lawyers in Sydney and Bangkok, led by Curnow and senior associates Simon Greenacre and Robyn Farrell. They were assisted by partners Sean Rush (Financing) and Sawanee A. Sethsathira (Bangkok), along with senior associates Kate Phillips and Craig Amundsen and a team of associates.
Written by John on 08 May 2013.
♦ Recent Deals ♦ Kuala Lumpur, Malaysia
Wong & Partners, the Malaysian member firm of Baker & McKenzie International, advised Pacific Global Ventures Sdn. Bhd. ("Pacific Global") on the disposal of an equity stake in Mamee Double-Decker Sdn. Bhd. ("Mamee") to Headland Capital Partners Limited ("Headland"), a Hong Kong based private equity firm. Partner Munir Abdul Aziz led the team and was assisted by senior associate Wong Sue Wan. With more than 90 years of collective experience in the food and beverage ("F&B") manufacturing industry, Mamee’s highly experienced senior management team will target South East Asian growth markets in different market segments to accelerate its regional growth with the assistance of Headland. Munir Abdul Aziz, the Firm's corporate and commercial partner, said of their involvement in this matter, "It was a pleasure working with Vuitton Pang, the Pacific Global team and their financial adviser Rothschild on this matter, which is indicative of the growing foreign investor interest in the South East Asian food and beverage manufacturing sector." "We would like to thank Wong & Partners for working with us on this important transaction. Their input proved to be important in shaping and concluding this transaction and we appreciate the commitment that was put in by the team," said a Pacific Global Ventures representative. Established by the Pang family in 1971, Mamee is Malaysia's largest domestic food and beverage maker with a domestic market share of more than 30%. As the top ranked snack food business in Malaysia, it has a number of leading home-grown brands such as Mamee Monster, Mamee Instant and Sllrrrp! Noodles, Mister Potato Chips, Nicolet Swiss Herb Candy and Nutrigen Cultured Milk Drink. Headland Capital Partners Limited, formerly, HSBC Private Equity (Asia) Limited, has been advising private equity and venture capital funds since 1989. The funds advised by Headland have made investments in more than 140 companies, primarily in Greater China, South Korea, South East Asia and India. Rothschild Malaysia Sdn. Bhd. was the sole financial adviser in this transaction.