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The capital markets practice at Shook Lin & Bok engages in a mix of both equity and debt work. Clients were effusive in their praise for the lawyers in this practice. One singles out junior partner Kelvin Loh: "Working with Kelvin has been a joy. He was both professional and technically sound. Experiences with such lawyers set this firm apart from others."

A highlight transaction for the firm was its representation of Cagamas, a national mortgage corporation and leading securitisation house, in the issuance of an innovative sukuk al-amanah li al-istithmar (Islamic bond) under an Islamic commercial paper programme and an Islamic MTN programme. This matter was hailed by market observers as a truly unique deal, with the combination of innovative deal structure and pedigree of issuer a singular confluence of substantial import. The aggregate value of the transaction was RM5 billion ($1.6 billion), with the matter completed in July 2010.

A client praises the firm for its reasonable manner: "The lawyers were able to provide commercially workable solutions to address the needs of various parties within the time constraints imposed. Just as importantly, they were able to convincingly address each party's concerns."

"The team at Shook Lin & Bok was responsive and clear. The lawyers were able to concisely identify and explain the local requirements to a varied international group," says an international client. The firm's tireless efforts in the last year have helped it to retain a top tier ranking in the banking sector. Peers remark that the firm "maintains a good mix of banking work with both international as well as domestic interests."

The firm advised on an Islamic term financing facility granted by a retirement fund corporation to one client, who is a holding company of a leading property developer in the country. Key practitioner Jal Othman was part of the team on this RM300 million ($100 million) transaction, which was completed in June 2010.

One client recommends the firm for its attention to detail: "We found the partner we had and the team to be meticulous and comprehensive in covering all legal issues and prompt in their service."

Shook Lin & Bok continues to secure the mandates to marquee transactions from the top clients in the country. One peer says: "The firm has continued to remain relevant in the market, and we see them often on the other side of the table."

The firm advised clients Hong Leong Financial Group, Hong Leong Assurance and HLA Holdings in a multi-phase transaction in the past year. The first was the merger of both non-life insurance businesses of client Hong Leong Assurance and MSIG Insurance (Malaysia). The second part of the transaction involved HLA Holdings' disposal of a 30% equity interest in HLA to Mitsui Sumitomo Insurance for a cash consideration of RM940 million ($315.8 million). The total value of the transaction has been reported to be over RM1.5 billion and was completed in October 2010.

Clients recommend the firm for its professionalism and dedication to quality service: "The lawyers there are efficient and effective legal professionals. Having worked with firms in Malaysia in the past, I have to say I prefer this firm much more," remarks one.

Maintaining its strength in corporate M&A, Shook Lin & Bok has worked on some impressive mandates in the last year, further boosting its profile in the corporate space.

One such highlight for the firm this year was working on one of Singapore's largest M&A deals, with partners David Chong and Teo Yi Jing acting for Morgan Stanley in the S$10.7 billion ($8.8 billion) Singapore Exchange (SGX) takeover of the Australian Exchange (ASX). This transaction will result in the second-largest listed stock exchange in Asia, and has required regulatory approval in both Australia and Singapore.

Partners Tan Woon Hum and Markus Blenntoft also advised HSBC Institutional Trust Services, the trustee of Sabana Sharia Compliant Industrial Real Estate Investment Trust (Reit) in its IPO, representing Singapore's first sharia-compliant Reit, which raised S$491 million. This is a particularly innovative transaction, as Hum and Blenntoft had to work around sharia structures to create what is reportedly the largest sharia-compliant Reit in the world.