Capital markets in Malaysia

Christopher & Lee Ong

Distinguished by its equity capital markets experience, Christopher & Lee Ong is routinely involved in large IPOs and has notable knowledge of Main Market and ACE Market listings on Bursa Malaysia. The group is active across an array of sectors, including retail, consumer finance, investment holdings, REIT, oil and gas, and industrial machinery. Annette Soh is responsible for leading the practice and provides a wealth of knowledge on listings on the LEAP, ACE and Main Markets. Justin Chua has significant experience handling large REIT-IPOs and Yon See Ting excels in the issuance of new ordinary shares.

Responsables de la pratique:

Annette Soh


Autres avocats clés:

Yon See Ting; Justin Chua


Principaux clients

99 Speed Mart Retail Holdings Bhd


Eco-Shop Marketing Sdn Bhd


Paradigm Real Estate Investment Trust


Hedychium Group Limited


Johor Plantations Group Bhd


Cuckoo International (MAL) Bhd


HI Mobility Berhad


Steel Hawk Berhad


Well Chip Group Bhd


Mega Fortris Berhad


Green Esteel Pte Ltd


CIMB Investment Bank Berhad


Maybank Investment Bank Berhad


RHB Investment Bank Berhad


AmInvestment Bank Berhad


Principaux dossiers


  • Acted as the legal advisers to CIMB Investment Bank Bhd regarding the proposed initial public offering of 99 Speed Mart Retail Holdings.
  • Acted as legal advisers in the IPO of Eco-Shop Marketing Sdn Bhd.
  • Acted for Maybank Investment Bank Berhad  in the IPO of Paradigm Real Estate Investment Trust.

Rahmat Lim & Partners

The capital markets offering at Rahmat Lim & Partners extends across debt and equity capital markets. On the equity capital markets front, the group frequently handles IPOs, REITs, secondary issuances on the Bursa Malaysia and the issuance of bonds. On the debt capital markets side, the team is well versed in an array of bond and note issuances, particularly in the renewable energy space. The practice is jointly led by Wan Kai Chee , whose strengths lie in schemes of arrangement, vestings and capital reductions; and Kelvin Loh , who is highly experienced in bonds and Sukuk transactions, notably convertible and exchangeable bonds. Other notable names include Zandra Tan , who is active in corporate finance; Geraldine Su , who is specialised in sovereign funding; Tan Yan Yan , who is experienced in REITs; and Livia Hong, who is a key name for equity securities offerings.

Responsables de la pratique:

Wan Kai Chee; Kelvin Loh


Autres avocats clés:

Zandra Tan; Geraldine Su; Tan Yan Yan; Livia Hong


Les références

‘The RLP team is a standout legal practice defined by its deep bench of technical expertise, commercial sensibility, and collaborative culture. Across multiple engagements, the team has consistently delivered high-quality legal support with precision, clarity, and speed. They are particularly skilled at navigating complex, time-sensitive matters while remaining responsive and accessible.’

‘The team has gone above and beyond including burning the midnight oils to ensure that all targets are achieved on time. They have also provided legal advice and services beyond their scopes to ensure that the client’s interests are protected at all times.’

‘Zandra Tan – is well experience in her field and her in depth understanding as well as ability to work with the regulators enables the project to be completed on time. This also allows us to overcome all obstacles with less stress.’

Principaux dossiers


  • Advised VTTI Finance B.V. in respect of the refinancing of debt.
  • Advised Saracap Ventures Sdn in relation to the issuance of medium-term notes.
  • Advising CUCKOO International (MAL) Berhad as Malaysian counsel, in relation to its proposed initial public offering and listing of its shares on the Bursa Malaysia.

Zaid Ibrahim & Co

Renowned for its debt capital markets expertise, Zaid Ibrahim & Co is frequently instructed on complex mandates involving the issuance of bonds, commercial papers and medium term notes. The team’s experience of securitisation and structured finance extends across real property, hire purchase receivables and whole business securitisations. Lilian Liew and Chin Sook Kwan form the duo who head up the practice. Liew is a popular choice for large debt restructurings and sustainability-linked financing. Sook Kwan is highly regarded for her expertise in asset securitisation and other structured financing transactions.

Responsables de la pratique:

Lilian Liew; Chin Sook Kwan


Les références

‘The team at ZICO is one of the leading capital markets practices in Malaysia and have been at the forefront of offshore financing in the conventional and sukuk markets for a number of years. Their depth of knowledge and experience provides a strong value add to any transaction.’

‘Sook Kwan and Lilian are both very approachable and commercial when acting on capital markets matters, solutions-oriented and able to guide the parties to a sensible outcome.’

Principaux clients

HSBC Amanah Malaysia Berhad


Kenanga Investment Bank Berhad


Maybank Investment Bank Berhad


CIMB Investment Bank Berhad


Principaux dossiers


  • Advised HSBC Amanah Malaysia Berhad on the first ever Islamic Securitisation Transaction in Malaysia.
  • Acted as legal advisers to (i) Maybank Investment Bank Berhad as the principal adviser, and (ii) CIMB Investment Bank Berhad and Maybank Investment Bank Berhad as the joint lead arrangers for the establishment of an Islamic commercial papers programme and Islamic medium term notes programme.

Zul Rafique & Partners

Zul Rafique & Partners is relied on in the debt capital raising and securitisation space to assist with the issuance of private debt securities, notably asset-backed securitisation, commercial papers and medium term notes and programmes. Loh Mei Mei  is the go-to advisor for corporate banking and specialises in a range of financing transactions. Kung Suan Im excels in acquisition financing, bonds and Sukuk matters. Ashela Ramaya is particularly well versed in the financing of data centres and renewable power projects. Chan Kwan Hoe shines in the issuance of private debt securities, corporate bonds and Sukuk. Celine Rangithan is experienced in sustainability-linked Sukuk issuances, and Jayden Chuah is noted for his debt restructuring expertise. All lawyers mentioned co-head the practice.

Responsables de la pratique:

Loh Mei Mei; Kung Suan Im; Ashela Ramaya; Celine Rangithan; Chan Kwan Hoe; Jayden Chuah Jer Yang


Les références

‘Well regarded firm, skilful and professional team of lawyers, fairly diversified and highly collaborative.’

‘Ms Loh Mei Mei for her professionalism, responsiveness, deep experience and knowledgeable in most economic sectors, making it easier to work on complex transactions’

‘Zul Rafique & Partners is a well-established law firm in Malaysia with extensive experience and a leading firm in the capital market space. ’

Principaux clients

Maxis Berhad


Standard Chartered Bank Group


Maybank Group


Bank of China


Affin Group


HSBC Group


CIMB Bank Group


OCBC Group


Genting Berhad


RHB Group


MIDF Group


Bank Kerjasama Rakyat Malaysia


Cathay United Bank


MUFG Bank


Sumitomo Mitsui Banking Corporation Malaysia Berhad


United Overseas Bank


Deutsche Bank


First Abu Dhabi Bank


International DInance Corp


NIIF Infrastructure Finance Limited


PT Bank Jtrust Indonesia TBK


Aolani Cloud I Limited


Bank of Ireland


Commercial Bank of Dubai PSC


Hong Leong Bank Vietnam Limited


Principaux dossiers


  • Advised on PHB’s Sukuk Murabahah Programmes.
  • Advised on the establishment of a subordinated perpetual Islamic medium-term notes programme.
  • Advised on the establishment of an Islamic medium term notes programme and Islamic commercial papers programme.

Cheang & Ariff

Cheang & Ariff‘s capable capital markets team combines expertise in debt and equity capital markets, securitisation, derivatives and corporate trusts. The team is particularly noted for its equity capital markets work, with the team regularly overseeing listings on both the ACE and Main markets of the Bursa Malaysia. Jointly steering the team is Tan Ming-li, Yoon Ming Sun, Yeat Soo Ching, Adriel Lau Jin Son, Cindy Cheang Foong Kim and Loong Wai Teng.

Responsables de la pratique:

Tan Ming-li; Yoon Ming Sun; Yeat Soo Ching; Adriel Lau Jin Son; Cindy Cheang Foong Kim; Loong Wai Teng


Les références

‘The Capital Markets practice of Cheang & Ariff stands out for its regulatory expertise, transactional precision and proactive client service. The firm is well regarded for advising on complex local and foreign IPOs, public fundraising exercises and takeovers and mergers.’

‘Cheang & Ariff is able to combine technical rigour with commercial sensibility, hence enabling the delivery of innovative legal solutions to clients.’

‘Mr. Yoon Ming Sun is technically sound and commercial in his approach to transactions and IPOs we have worked with him on. Clients appreciate his ability to foresee potential regulatory hurdles and propose workable alternatives under tight deadlines.’

Principaux clients

Oriental Kopi Holdings Berhad


Aquawalk Group Berhad


MKH Oil Palm


Zantat Holdings Berhad


Maybank Investment Berhad


Pantech Global Berhad


PESTEC International Berhad


Axington


Principaux dossiers


  • Advised Oriental Kopi Holdings Berhad on its IPO.
  • Advised Aquawalk Group Berhad on its proposed IPO.
  • Advised MKH Oil Palm (East Kalimantan) Berhad on its IPO.

Lee Hishammuddin Allen & Gledhill

Lee Hishammuddin Allen & Gledhill covers a wide range of capital market transactions, notably equity and debt capital markets, securitisation, structured finance, derivatives and Sukuk issuances. Tay Weng Hwee takes on the role of practice head and is highly regarded for his expertise in cross-border financings, notably ACE and Main Market listing on Bursa Malaysia. Megat Hizaini Hassan is a key support to the practice with a strong reputation in Sukuk mandates, notably Murabaha and Ijarah transactions. Bella Chu Chai Yee is also an asset to the team when handling equity-related transactions and IPO formations.

Responsables de la pratique:

Tay Weng Hwee


Autres avocats clés:

Megat Hizaini Hassan; Bella Chu Chai Yee


Les références

‘Our firm is pleased with the expertise shared, communication and collaboration we had with Lee Hishammuddin Allen & Gledhill. They consistently perform very well. Work well with our timeline.’

‘I am very pleased and happy to work with Mr Megat. He gives the best cooperation and shows exceptional expertise in the field of Islamic finance.’

Principaux dossiers


  • Advised Top Glove Corporation Bhd on a bonus issue of up to 405,846,911 warrants.
  • Advised LSH Capital on the transfer of its listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad.
  • Advised QSR Stores Sdn Bhd on a Sukuk Wakalah.

Mohamed Ridza & Co

The Mohamed Ridza & Co capital markets team is well versed in private debt securities issuances, structured finance exercises and fund-raising activities in both conventional and Islamic capital markets. Overseeing the running of the practice is Mohamed Ridza Abdullah, who is an expert in the oil, gas and petrochemical spaces; Mohamad Nazran Basirun, who is a go-to advisor for offshore mandates; Naseem Binti Mohamed Abdulla, who excels in the establishment of REITs; and Nur Adila Omar, who is specialised in unit trust funds and REITs. Shazana Abdul Aziz acts as a key support to the team.

Responsables de la pratique:

Mohamed Ridza Abdullah; Mohamad Nazran Basirun; Naseem Mohamed Abdulla; Nur Adila Omar


Autres avocats clés:

Shazana Abdul Aziz


Principaux clients

JLG REIT Managers Sdn Bhd


AmInvestment Bank Berhad


CIMB Investment Bank Berhad


Maybank Investment Bank Berhad


RHB Investment Bank Berhad


Pelaburan Hartanah Berhad


Principaux dossiers


  • Advised Pelaburan Hartanah Berhad on the issuance of Islamic commercial papers and Islamic medium-term notes under a Sukuk Murabahah programme.
  • Advised AmInvestment Bank Berhad, CIMB Investment Bank Berhad, Maybank Investment Berhad and RHB Investment Bank Berhad in respect of the Islamic Commercial Papers and Islamic Medium Term Notes Programme.
  • Advised JLG REIT Managers Sdn Bhd in respect of the proposed renewal of leases of properties between subsidiaries.

Ben & Partners

Ben & Partners is a boutique law firm specialised in corporate law that is regularly instructed on capital markets matters involving IPOs, fund-raisings, privatisations, reverse takeovers and debt restructurings. Koay Ben Ree spearheads the practice, which benefits from his extensive knowledge of IPOs and fund-raising exercises via equity and debt instruments. Heng Tzi Chin is also an active member of the practice.

Responsables de la pratique:

Koay Ben Ree


Autres avocats clés:

Heng Tzi Chin


Principaux clients

Swift Energy Sdn Bhd


CBH Engineering Sdn Bhd


Wynntech Star Sdn Bhd


Trive Property Group Berhad


Erdasan Group Berhad


Advance Information Marketing Bhd


Principaux dossiers


  • Advised Swift Energy Technology Bhd as legal due diligence solicitors on its initial public offering on the ACE Market of Malaysia Bursa Malaysia.
  • Advised CBH Engineering Holding Berhad as legal due diligence solicitors on its initial public offering on the ACE Market of Malaysia Bursa Malaysia.
  • Advised Camaroe Berhad as legal due diligence solicitors on its proposed listing on the ACE Market of Malaysia Bursa Malaysia.

Chooi & Company

Chooi & Company has established a strong practice in the capital markets space, advising on corporate exercises for Main Market-listed companies and providing regulatory and governance guidance to REIT boards under Malaysian capital markets rules. The trio heading the practice is formed of Karen Cheah Yee Lynn, Jimmy Ng Chwe Hwa and Jimmy Ng Chwe Hwa.

Responsables de la pratique:

Karen Cheah Yee Lynn; Jimmy Ng Chwe Hwa; Leong Wei Chung


David Lai & Tan

The capital markets offering at David Lai & Tan covers a diverse spectrum of work, including fund raising and corporate exercises, take-overs, capital fund raising and IPOs. Tan Yee Boon is responsible for heading up the practice, which benefits from his expertise in IPOs and fund raising exercises. Standout members of the group include Stephanie Chan Pik Jia, who is active in listings on Bursa Malaysia; and Carol Chong Yan Teng, who is well versed in the construction, manufacturing, renewable energy and fintech spaces.

 

Responsables de la pratique:

Tan Yee Boon


Autres avocats clés:

Stephanie Chan Pik Jia; Carol Chong Yan Teng


Les références

‘The team members are very dedicated and are able to meet the demands of professional parties within a very short timeline. They go extra miles to ensure that their clients achieve their goals.’

‘Stephanie Chan is very knowledgeable and experienced in capital markets work. She is able to convey the requirements of Bursa Malaysia to her clients in an easy-to-understand manner. She is able to quickly identify difficult issues and propose ways to resolved them. ’

‘David Lai & Tan stands out for its integrated, partner-led approach that combines deep sectoral knowledge with commercially astute legal advice. The team is known for its responsiveness, strategic insight, and ability to handle high-value, complex matters across multiple industries. Regulatory compliance matters are clearly articulated to ensure easy understanding and to facilitate the identification of potential due diligence concerns.’ 

Principaux clients

Sorento Capital Berhad


Azam Jaya Berhad


RichTech Digital Berhad


Hydropipes Berhad


Powertechnic Group Berhad


Cheeding Holdings Berhad


Guan Huat Seng Holdings Berhad


Sorento Capital Berhad


Azam Jaya Berhad


RichTech Digital Berhad


Hydropipes Berhad


Powertechnic Group Berhad


Cheeding Holdings Berhad


Guan Huat Seng Holdings Berhad


Sorento Capital Berhad


Azam Jaya Berhad


RichTech Digital Berhad


Hydropipes Berhad


Powertechnic Group Berhad


Cheeding Holdings Berhad


Guan Huat Seng Holdings Berhad


Principaux dossiers


  • Advised Azam Jaya Berhad on the listing on the Main Market of Bursa Securities.
  • Advised Sorento Capital Berhad on the listing on the ACE Market of Bursa Securities.
  • Advised RichTech Digital Berhad on the listing on the ACE Market of Bursa Securities.

Jeff Leong, Poon & Wong

Jeff Leong, Poon & Wong has a wealth of experience in IPO listings on the Main Market, ACE Market and LEAP Markets of Bursa Malaysia, as well as with transfer listings. On the debt capital markets side, the group is experienced in Sukuk programmes. Jeff Leong and Kenny Poon are both responsible for heading the group. Leong is highly skilled in capital raising and corporate exercises, while Poon excels in takeovers, debt restructurings and schemes of arrangement.

Responsables de la pratique:

Jeff Leong; Kenny Poon


Les références

‘The team we worked with was experienced and knowledgeable, they were also prompt and a pleasure to work with.’

‘Technically sound and attentive.’

‘Competency, availability and timely etc.’

Principaux clients

BWYS Group Berhad


KHPT Holdings Berhad


SFP Tech Holdings Berhad


Mega Fortris Berhad


Life Water Berhad


Kenanga Investment Bank Berhad


DS Sigma Holdings Berhad


PMW International Berhad


Ping Edge Technology Berhad


Principaux dossiers


  • Advised Mega Fortris Berhad in its internal group restructuring and initial public offering debut on the Main Market of Bursa Malaysia.
  • Advised Life Water Berhad in its internal group restructuring and initial public offering debut on the Main Market of Bursa Malaysia.
  • Advised PMW International Berhad in its internal group restructuring and initial public offering debut on the ACE Market of Bursa Malaysia.

Kadir Andri & Partners

Kadir Andri & Partners demonstrates strong capabilities across both debt and equity capital markets, with particular expertise in Islamic finance, Sukuk programmes and sustainability-linked structures, as well as in cross-border IPO work involving complex group restructurings. The group is jointly run by Dato Andri Aidham, Tan Kong Yam and Siew Choy Ling. Choy Ling is particularly noted for her experience handling bond and Sukuk transactions.

Responsables de la pratique:

Dato Andri Aidham Badri; Tan Kong Yam; Siew Choy Ling


Les références

‘Our company engaged KAAP for several transactions, from conveyancing to corporate dealings.’

‘Siew Choy Ling provided consistent, reliable and accurate advice/guidance throughout the process.’

Principaux clients

Pantai Holdings Sdn. Bhd


Crest Group Berhad


Principaux dossiers


  • Advised Pantai Holdings Sdn. Bhd on the establishment of an Islamic commercial paper programme and Islamic medium term note programme.
  • Advised Crest Group Berhad in relation to its listing on the ACE Market of Bursa Malaysia Securities Berhad.

KhaiLing Yau Chambers

Corporate boutique firm KhaiLing Yau Chambers regularly acts as advisor to investors and issuers on investment and fund-raising exercises, by way of convertible securities. Founding partner Yau Khai Ling and Lau Yuet Sian jointly lead the team. Khai Ling is extremely knowledgeable on matters concerning reverse takeovers, IPOs and schemes of arrangement, and Yuet Sian is a key contact for listings and transfer listings in Malaysia.

Responsables de la pratique:

Yau Khai Ling; Lau Yuet Sian


Les références

‘KLYC’s speed and efficiency, while consistently maintaining a high standard of professionalism, are truly commendable. Given the tight and often rigid timelines in capital market work, their ability to deliver high-quality insights within such timeframes clearly sets them apart from other firms in this space.’

‘Khai Ling and Yuet Sian are highly knowledgeable in the relevant legislation and regulations governing capital market exercises. They are approachable, responsive, and hands-on in their work. Their ability to deliver within demanding timelines is equally commendable.’

‘The team is led by two partners, Yau Khai Ling and Lau Yuet Sian, both of whom are meticulous, highly knowledgeable in the law, and well attuned to commercial realities—especially valuable in today’s uncertain and dynamic landscape.’

Principaux dossiers


  • Advised Triton Capital Fund VCC in the subscription of convertible bonds in MQ Technology Berhad.
  • Advised Sycamore Capital SPC in the subscription of convertible debentures convertible into shares of Global Consumer Public Company Limited.
  • Advised Sycamore Capital SPC in the subscription of convertible debentures into shares of I&I Group Public Company Limited.

Mah-Kamariyah & Philip Koh

With strong equity capital markets expertise, Mah-Kamariyah & Philip Koh is regularly involved in REIT transactions, as well as other listings on the ACE and Main Markets of Bursa Malaysia. Adrian Koh is responsible for the running of the practice, with Yee Chew Yan ably supporting the group. Both of are considerably experienced in corporate and securities regulation.

Responsables de la pratique:

Adrian Koh


Autres avocats clés:

Yee Chew Yan


Les références

‘They communicate very well. Each attorney took responsibility for their tasks and made sure to have one voice when communicating to the client.’

‘Adrian Koh is a strong figure in the room. He delivers a lot of knowledge very humbly.’

‘Professional, knowledgeable, responsive, always protect client’s interest, excellent commercial sense.’ 

Principaux clients

Paradigm Real Estate Investment Trust


Alpha IVF Group Berhad


Johor Plantations Group Berhad


Well Chip Group Berhad


OB Holdings Berhad


Pappajack Berhad


HI Mobility Berhad


SAM Engineering & Equipment


Binastra Corporation Berhad


Tower Real Estate Investment Trust


OCR Group Berhad


Principaux dossiers


Peter Ling & van Geyzel

The capital markets team at Peter Ling & van Geyzel is noted for its work in the equity capital markets space, with the team routinely involved in listings, rights issuances and other corporate exercises. Founding partner Peter Ling serves as practice head.

Responsables de la pratique:

Peter Ling


Principaux clients

Classita Holdings Berhad


Harvest Miracle Capital Berhad


Hong Seng Consolidated Berhad


MMAG Holdings Berhad


Mpire Global Berhad


Revenue Group Berhad


TP Tec Holding Berhad


Principaux dossiers


  • Advised power and equipment solutions provider TP Tec Holding Bhd on their listing exercise on the LEAP Market of Bursa Malaysia.
  • Advised Bursa Malaysia listed Revenue Group Berhad on their rights issue exercise.
  • Advised ACE Market listed Harvest Miracle Capital Berhad on their rights issue.

Shearn Delamore & Co

Shearn Delamore & Co is best known for its involvement in bonds and Sukuk issuances, MTNs, commercial papers, structured products and asset-backed securitisation. Pamela Kung is in charge of leading the practice, which benefits from her knowledge of structured lending and issuance of corporate bonds and Sukuk. Nicholas Tan Choi Chuan is a key name for IPO expertise, as well as specialist knowledge of the education, oil and gas, manufacturing and telecoms sectors.

Responsables de la pratique:

Pamela Kung


Autres avocats clés:

Nicholas Tan


Principaux clients

Credit Guarantee and Investment Facility


Maxeon Solar Technologies, Ltd.


International Finance Corporation


Ashurst LLP


Milbank LLP


Principaux dossiers


  • Acted as Malaysian counsel for the investors in respect of the Secured Notes due September 2026 and Secured Notes due August 2028 issued by AirAsia RB 1 Ltd.
  • Acted as Malaysian counsel for CGIF in respect of senior unsecured bonds issued by PowerDC Holdco.
  • Acted as Malaysian counsel for Maxeon Solar Technologies, Ltd. as issuer in respect of the issuance of Tranche A Adjustable-Rate Convertible Second Lien Senior Secured Notes.

Wong Beh & Toh

At Wong Beh & Toh, the capital markets team demonstrates consistent strength in handling accelerated transfer listings and fast-track IPOs. Cynthia Toh Mei Lee, Yeap Lin Lin and Melissa Tan are all names to highlight in the team.

Autres avocats clés:

Cynthia Toh Mei Lee; Yeap Lin Lin; Melissa Tan


Les références

‘Wong Beh & Toh’s Capital Markets practice stands out for its partner-led, solution-driven approach. What makes the team truly unique is their deep understanding of both legal frameworks and commercial objectives, enabling them to craft practical, risk-aware advice that facilitates rather than hinders execution.’ 

‘Yeap Lin Lin stands outs for her rare combination of technical depth, commercial acumen, and genuine client care. She remains hands-on throughout the transaction engagement, ensuring continuity, responsiveness, and quality control.’

‘Comprehensive legal guidance and strong cross-functional collaboration.’

Principaux clients

Vetece Holdings Berhad


Solar District Cooling Sdn Bhd


Northeast Group Berhad


Food Innovators Holdings Limited


3REN Berhad


Infoline Tec Group Bhd


Cropmate Bhd


Pekat Teknologi Sdn Bhd


TT Vision Holdings Berhad


Yenher Holdings Berhad


Principaux dossiers