IFLR 1000
The Guide to the World's Leading Financial Law Firms

"Albar & Partners is the cream of the crop, and most firms look to them as a measuring stick in this market," says one peer. The firm has secured mandates on both sides of the capital markets table, with clients divided equally between issuers and arrangers.

A standout transaction for the firm this year was its representation of Petronas Chemicals Group in its IPO on the Malaysian Stock Exchange. Reported as one of the largest IPOs in the region, this deal was part of the government's efforts to make more public sector companies available to investors and boost liquidity in the country's capital markets. The company was listed in November 2010, with total value reported at $4.2 billion.

one client praises the firm's work ethic and communication: "The lawyers are quite hardworking and hungry. They do try to accommodate our concerns whenever possible, and even when they disagree on something they will consult us first before proceeding."

The firm advised Affin Investment Bank, acting as lead arranger, in Boustead Holdings' issuance of bank guaranteed medium term notes. The notes were guaranteed by a consortium of AAA-rated financial institutions. This RM1 billion ($335 million) transaction was led by key partners Angeline Lee and Lily Tan and completed in November 2010.

Clients recommend the firm for its focus: "The legal advice provided is always sound and in tune with commercial objectives," says one

"Albar & Partners provided a high level of dedication and commitment, while providing sound technical and problem solving capabilities," says one client. The firm remains a top tier fixture, as peers and clients run out of superlatives to describe its banking practice.

One client says: "It possesses an experienced leadership team with capable staff. The lawyers there have the ability to go beyond standard services and provide true added value."

The firm advised the principal bankers, consisting of HSBC Bank Malaysia, CIMB Bank, OCBC Bank (Malaysia), Public Bank and RHB Bank, in a syndicated financing facility sought by OSK Trustees for the Sunway REIT. This would part-finance the acquisition of several portfolio properties such as: the Sunway Pyramid Shopping Mall, the Sunway Carnival Shopping Mall and the SunCity Ipoh Hypermarket. Partner Chung Swee Loong headed this transaction for the firm. This matter was valued at RM1.15 billion ($386 million), and was completed in July 2010.

Loong is highly regarded by banking clients: "His advice was always clear and focused. His skills as a banking lawyer are exceptional. And his knowledge of the group's corporate profile and activities is added value for us."

Albar & Partners continues to develop its position in the M&A corporate area. Partner LilyTan is a particular highlight as far as clients are concerned: "She has vast experience in both financing and corporate advisory work." The elevation of Cassandra Hogg Samuel to junior partner provided a bolstering of the practice in July 2010. The firm advised Petronas and Petronas Chemicals group in the acquisition of a 15% interest in Ethylene Malaysia and a 60 % Interest in Polyethylene Malaysia from BP Chemicals Investments. This transaction was part of an internal reorganisation of the Petronas Chemicals group, and helped consolidate the client's control on production of ethylene glycols in the region. The transaction was completed in October 2010 and valued at $400 million.