Zul Rafique & Partners

Malaysia

Analysis

Overview

Zul Rafique & Partners maintains a sweet spot in the market for its banking and finance, capital markets, construction and employment expertise. The firm’s banking and finance group in particular enjoys a strong reputation for its handling of sophisticated debt restructuring mandates, asset-backed securities transactions, Islamic banking and project finance instructions. Zul Rafique & Partners is similarly well regarded for its debt capital markets capabilities, having advised on numerous sukuk (Islamic bond) issuances. Mei Mei Loh and Jayasingam Poopalasingam, both vastly experienced lawyers, lead these two core practice areas as key partners within the firm, guiding clients through banking and finance deals and complex employment issues respectively. Partner Ahmad Khusyri Abdul Majid left the firm in March 2023. 

Client feedback 

“The legal counsel provides fast feedback, gives good legal advice to protect the company's interests, works closely with my team to achieve objectives. The legal counsel or partners are approachable from time to time.” – Dispute resolution 

“The firm is experienced, reliable and professional. The firm provides practical and clear advice for the client in handling claims of wrongful dismissal.” – Labour and employment 

“The corporate real estate team understands our objectives/expectations of the transactions and is able to provide valuable and practical solutions.” – Real estate 

May Ling Leong 

“May Ling possesses the necessary expertise in advising her client.” 

Farah Shuhadah Razali 

“Fast and goes beyond the work in helping the clients.” 

Keat Ching Wong 

“Keat Ching is a very experienced employment lawyer and is able to advise her client very well. She is accessible and has a strong team that supports her.” 

Labour and employment

Work highlights

Successfully acted for an oil and gas company in an unfair dismissal claim by a former employee at the Industrial Court. The Industrial Court ruled non-compliance with a company’s code of ethics or conduct constitutes serious misconduct warranting dismissal, not a lighter punishment that could set a dangerous precedent. The court also noted employees aware of a company’s code have a duty to check if facing a conflict of interest to avoid breaching the code. 

Successfully represented a financial institution in the Court of Appeal in respect of an appeal filed by a former employee, the appellant, against the decision of the High Court of Malaya dismissing the appellant’s judicial review application to quash the entire decision in Industrial Court. 

Capital markets

Work highlights 

Advised AmInvestment Bank and Maybank Investment Bank on a subordinated perpetual Islamic notes programme of up to RM1 billion ($215 million) established by Yinson Holdings. The issuer will use the funds raised from the perpetual sukuk wakalah programme for purposes compliant with Islamic law, including capital expenditure, refinancing debt, funding operations, and other business needs. The proceeds will support the aims of the issuer and its group companies in accordance with shariah principles. 

Key clients 

Hong Leong Investment Bank, RHB Investment Bank, United Overseas Bank (Malaysia) 

Real estate

Work highlights 

Acted for Tropicana GP Views, a subsidiary company of Tropicana Corporation, in relation to the sale and disposal of parcels of lands measuring a total of about 53.89 acres in Mukim Jeram Batu, District of Pontian, State of Johor Darul Ta’zim, to KSL Medini Development. 

Key clients 

Jotun Paints (Malaysia), Northern Technocity, PNB Development, Senai Airport