Since its establishment in 1975, Adnan Sundra & Low has maintained a solid reputation in the areas of banking and finance, capital markets and corporate and M&A. The firm is a popular choice of counsel for banks and financial institutions to handle financial and corporate structures, securitizations and regulatory capital instruments. It has a large market share of the debt capital markets deals in Malaysia. Key individuals include Deepak Sadasivan and Adrian Chee for banking and finance and capital markets, Edward Foo Yuen Ng for capital markets, and Adrian Chair and Chin Chin Wong for corporate and M&A.
Client feedback
“Quick turnaround time and attentive.” – Banking and finance
Work highlights
Advised CIMB Investment Bank and Maybank Investment Bank on TNB Power Generation’s first issuance of RM1.5 billion Sustainability sukuk wakalah (Islamic medium-term notes). This issuance was under an Islamic medium-term notes programme of up to RM10 billion in nominal value. The issuance was oversubscribed by 3.41 times during the book-building exercise, receiving orders totalling RM5.1 million from over 30 accounts.
Acted as domestic counsel for Farm Fresh on its initial public offering (IPO). Farm Fresh is a fast-growing dairy group engaged in the business of farming, manufacturing and distributing various dairy products and plant-based products. Upon listing, Farm Fresh raised RM1.1 billion, making it the largest Malaysian IPO since June 2021. Farm Fresh also secured support from a record 30 cornerstone investors, the most seen for any Malaysian IPO to date.
Key clients
Citigroup Global Markets Singapore, Standard Chartered Bank (Singapore)
Work highlights
Acted as transaction counsel for AmInvestment Bank, CIMB Investment Bank and Hong Leong Investment Bank in the arrangement of a sukuk murabaha (Islamic financing instrument) programme of up to RM5.5 billion ($1.2 billion) for Amanat Lebuhraya Rakyat. The programme aimed to relieve the financial burden on both highway users and the government’s budget. This deal represented a significant transaction mandated by the Malaysian government as part of its highway concessionaire restructuring plan.
Key clients
Affin Hwang Investment Bank, Alliance Investment Bank, EdgePoint Malaysia Holdings, Maybank Investment Bank
