Edward Ng Foo Yuen

edward.ng@ghaniandpartners.com
Edward Ng

Key Practice Areas:

Debt
Capital Markets
Sukuk
& Islamic Products
Corporate
Banking
Project
Finance

Edward focuses on banking and debt capital markets with experience advising on a broad range of banking and debt capital markets transactions (covering Islamic and conventional finance). His experience includes advising on corporate bonds and Sukuk programmes and issuances (which include power plant financings for green and conventional projects), bilateral and syndicated term financings, structured finance and other general banking and finance matters.

Edward’s work has been recognised in Asian Legal Business as he was nominated twice for the Young Lawyer of the Year Award in 2017 and 2018. Edward was ranked as a “leading individual” under the category of Capital Markets by the Legal 500 Malaysia ranking and “distinguished practitioner” by Asialaw ranking. Edward was also ranked as one of Malaysia’s top 100 lawyers for 2020 and 2021 by Asia Business Law Journal.

Qualifications

  • LL.B. (Hons) – University of London (External)
  • Certificate of Legal Practice

Admissions

  • Malaysian Bar (2004)

Languages

  • English
  • Bahasa Malaysia

Market Leading Experience

  • Advising OCBC Al-Amin Bank Berhad in relation to the issuance of ASEAN Sustainability SRI Sukuk of up to RM245.0 million in nominal value based on the Islamic principle of Murabahah by Edra Solar Sdn Bhd for the financing of a solar photovoltaic plant with an aggregate net capacity of 50 MWac located in Kuala Ketil, Kedah. The ASEAN Sustainability SRI Sukuk issued by Edra Solar Sdn Bhd is the country’s first to be aligned with the requirements of the Securities Commission Malaysia’s SRI Sukuk Framework, the ASEAN Green Bond Standards, the ASEAN Social Bond Standards as well as the globally recognised Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines. The Firm was named the winner in the Energy & Natural Resources category of the Islamic Finance News (“IFN”) Awards for its work on this transaction.
  • Advising CIMB Investment Bank Berhad and Maybank Investment Bank Berhad in relation to a Sukuk issuance of up to RM1.0 billion in nominal value based on the Islamic principle of Murabahah (via Tawarruq arrangement) by Quantum Solar Park (Semenanjung) Sdn Bhd for the financing of three solar power plants with an aggregate net capacity of 150 MWac. The issuance of the Sukuk was made in October 2017 and was the largest green Sukuk in the world. Being the largest in those areas is one of the key features of the Green SRI Sukuk, however, its key unique feature is in its financing and legal structure where the Issuer is the immediate holding company of three (3) project companies undertaking their respective large-scale solar projects in different areas in Kedah, Melaka and Terengganu. This transaction was named the Project & Infrastructure Finance Deal of the Year at IFN Deals of the Year Awards 2017.
  • Advising Affin Investment Bank Berhad in relation to an Islamic medium term notes programme of RM5.0 billion in nominal value for the issuance of Senior Sukuk Murabahah, Tier 2 Sukuk Murabahah and/or perpetual Additional Tier 1 Capital Sukuk Wakalah by Affin Islamic Bank Berhad. This transaction was named the Islamic Deal of the Year at the ALB Awards 2019.
  • Advising Maybank Investment Bank Berhad as the principal adviser and lead arranger in relation to the RM10.0 billion Islamic medium term notes programme established by Imtiaz Sukuk II Berhad, with Bank Kerjasama Rakyat Malaysia Berhad as the obligor thereunder, whereby the Issuer envisages the issuance of Sukuk Wakalah for general corporate purposes as well as Sukuk Wakalah in accordance with the Sustainable and Responsible Investment Sukuk (SRI) requirements under the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework. This transaction was named the Debt Market Deal of the Year at the Asian Legal Business Malaysia Law Awards (“ALB Awards”) 2021.
  • Advising CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad in relation to a Sukuk issuance of up to RM5.28 billion in nominal value based on the Islamic principle of Wakalah Bi Al-Istithmar by Edra Energy Sdn Bhd for the financing of three generating blocks of gas fired power plant with capacity of 2,242 MW in Alor Gajah, Melaka. This was the largest power plant project in 2017. This transaction was named the Projects, Energy and Infrastructure Deal of the Year at the ALB Awards 2019.
  • Advising CIMB Investment Bank Berhad, HSBC Amanah Malaysia Berhad and Maybank Investment Bank Berhad in relation to a Sukuk issuance of up to RM10.0 billion in nominal value based on the Islamic principle of Murabahah (via Tawarruq arrangement) by Jimah East Power Sdn Bhd, a subsidiary of Tenaga Nasional Berhad for the financing of two units of ultra-supercritical coal fired generating power plants with an aggregate net capacity of 2,000 MW in Jimah, Negeri Sembilan, Malaysia. This was the largest greenfield power deal in Asia and the largest Sukuk deal in 2015. This transaction was named the Debt Market Deal of the Year (Premium) and Malaysia Deal of the Year at the ALB Awards 2016.
  • Advising Citigroup, Deutsche Bank, J.P. Morgan and Maybank Investment Bank Berhad as the joint lead managers and joint bookrunners in connection with the debut US dollar high yield bond issuance by Press Metal (Labuan) Ltd., an issuing SPV wholly owned by Press Metal Aluminium Holdings Berhad (Press Metal). The issuance of USD400 million was guaranteed by Press Metal together with certain of its subsidiaries. The issuance was unique as it was the first high yield bond offering out of Malaysia since 2007. This transaction was named the Debt Market Deal of the Year (Midsize) at the ALB Awards 2018.
  • Advising United Overseas Bank (Malaysia) Bhd as the lead arranger and performance guarantee provider in relation to the issuance of up to RM220 million nominal value serial fixed rate bonds issued by Sasaran Etika Sdn Bhd (a wholly-owned subsidiary of Nadi Cergas Sdn Bhd). Sasaran Etika Sdn Bhd is the concessionaire for the design, development, construction and completion of the residential colleges for approximately 5,000 students for International Islamic University Malaysia in Kuantan, Pahang which concession has been granted by the Government of Malaysia under the Private Finance Initiative concept. The said bonds were awarded the Blueprint Award for New Structured Finance Benchmark Deal by RAM Rating Services Berhad at the RAM League Awards 2012.

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