Highly regarded firm Zaid Ibrahim & Co (in association with KPMG Law) now is a part of KPMG’s legal network. The firm has a sound reputation in the market, particularly for financing, capital markets and corporate work. The firm also provides strong expertise on energy and infrastructure projects, including road, rail and airport developments as well as petrochemicals plants and local and offshore renewable energy projects. Lilian Liew, Gilbert Gan, Kee Hooi Wong, Amin Abdul Majid and Boo Seng Ong are key figures for banking and finance, capital markets and corporate and M&A, energy, infrastructure, and IP, respectively. Partner Wee Hoo Yong, who specialised in debut capital markets and structured finance, left the firm in February 2023.
Work highlights
Acted as the lead local legal counsels for Telenor ASA, a Norwegian state-owned telecommunications company and one of the world’s largest mobile telecommunications operators, the parent company of Digi's largest shareholder, in its proposal to merge its Malaysian mobile telecommunications operator with another Malaysian giant mobile telecommunications operator, Celcom, owned by Axiata Group. The completion of this landmark deal creates the single largest mobile telecommunications company in Malaysia and the largest local-listed technology company on Bursa Malaysia Securities. It is also the first merger of mobile telecommunications operators carried out under the new merger control regime of the telecommunications industry under the purview of the Malaysian Communications and Multimedia Commission.
Key clients
Advent International, AMMB Holdings, Bank Pembangunan Malaysia, Danajamin Nasional, JP Morgan Securities (Malaysia)
Work highlights
Acted as Malaysian counsel to CIMB Bank in relation to the update of its $5 billion euro medium-term notes programme to a global medium-term notes programme, in accordance with Rule 144A of the United States Securities Act 1993. This is the first Rule 144a programme undertaken by a Malaysian bank in the international capital markets.
Acted for TNB Power Generation in the establishment of an Islamic medium-term notes programme of up to RM10 billion in nominal value, based on the shariah principle. TNB Power Generation sukuk framework has been accorded a ‘Gold’ rating by MARC Ratings as the independent external reviewer. TNB Power Generation will play an important role in supporting its sustainability aspirations and commitment in mitigating climate change via the adoption of greener, cleaner and more efficient power generation technology.
Key clients
Kenanga Investment Bank, Projek Lebuhraya Usahasama, UEM Sunrise, VS Capital Management
Work highlights
Acted for TNB Bukit Selambau Solar Dua in the term financing-i facility of up to RM185 million ($40 million) with CIMB Islamic Bank. The project, with a capacity of 50MWac (75MWdc), is part of the government’s Large Scale Solar Mentari (LSS4) programme.
Acted for the joint lead managers in the Malaysian government’s $800 million 10-year and $500 million 30-year sustainability sukuk (Islamic bond), which was issued via a special-purpose vehicle, Malaysia sukuk wakalah.
Key clients
MIDF Amanah Investment Bank
Work highlights
Advised the national electricity utility, Tenaga Nasional, on the various legal implications of the coal export ban imposed by the Indonesian Government in early 2022. This entailed the urgent review of coal purchase agreements, coal transportation agreements and energy offtake agreements which were all affected by the executive decision of the Indonesian Government. This engagement also involved a review of laws in the Indonesian jurisdiction to assist in the understanding of the implications of the executive decision.
Advised a multinational company on legal and regulatory matters surrounding the adoption of biomass and ammonia co-firing in coal-fired power plants in Malaysia. This was part of the client’s innovative efforts to lower carbon emissions and required a thorough examination and understanding of the proposed new technology. The advice prepared by the firm formed an integral part of a study that was submitted to a foreign government for the purposes of funding, which will help catalyse the decarbonisation of the energy sector in Malaysia.
Key clients
Genting Utilities & Services, Hap Seng Consolidated, Lam Research Corporation, Sydney Metro, Tenaga Nasional
