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

"Wong & Partners has very professional lawyers, and of the partners I've dealt with, are all excellent examples of experience and endeavour in their fields," says one client. The firm is also lauded by peers for its capital markets experience. The arrival of partner Mark Lim as group head in June 2010 will yield dividends according to peers, as one says: "He's a superstar and the firm is definitely looking at the top with arrivals such as him."

Lim advised Maybank Investment Bank and AmInvestment Bank, acting as mandated joint lead arrangers, in an Islamic MTN programme, under the shariah principles of musharakah (partnership finance) which was made available to Westports Malaysia, a Malaysian multi-cargo port operator. The transaction was valued at RM2 billion ($671 million).

Another notable matter was the firm's representation of SK Telecom in its subscription for Class C Islamic irredeemable convertible preference shares in Packet One Networks. This included the subscription of Islamic convertible preference shares, while maintaining the client's interests as a preference shareholder against other classes of existing preference shareholders, and the role as an ordinary shareholder in a public listing of the target company.

"Wong & Partners has a strong banking and project finance practice, and I wouldn't think it out of place to rate them as one of the top in the country," says a competitor. The firm consolidates its position in the banking market this year, with peers continuing to point to the arrival of partner Mark Lim from last year as a sign of the firm's growth and expertise in the country.

A Lim-led transaction in the last year was the firm's representation of Malayan Banking in a financing transaction involving a syndicated term loan facility, which was made available by a syndicate of international financial institutions to the client. This deal illustrated the firm's global capabilities, as it could utilise the resources of it's associate, Baker & McKenzie's offices. The firm was thus able to advise and assist the client in negotiating the deal with the foreign lenders and foreign transaction counsel without the involvement of a separate foreign counsel for the client. This matter was valued at $700 million.

One peer says: "The banking practice is an embodiment of sophistication, and it's one of the leading firms in the area, not to mention highly responsive as well."

Wong & Partners retains its position in the market, as the firm continues to espouse the virtues of international quality service with personal attention. The firm has an extensive list of high-profile international clients, with esteemed names such as Goldman Sachs, the Carlyle Group and Siemens just a few examples.

One peer says: "The firm sets a standard for the market, which is more often than not an international level one. Definitely one of the contenders in the country."

The firm advised Jerneh Asia and Paramount Corporation in the sale of their entire equity interests in Jerneh Insurance to ACE INA International Holdings. The RM654 million ($219 million) transaction was completed in January 2011. This has been reported as one of the benchmark deals in the consolidation of the insurance sector in the country.

Clients adore the partners in this practice group, with an international client commenting: "I've worked with Munir Abdul Aziz. He's highly intelligent, young and has an appetite for M&A; all the while he listens and operates at the highest level. Sometimes one would worry that at a local law firm the standard is lower, but he matches the standards of the best international firms."