Gan Kok Ling

kokling.gan@asl.com.my
Gan Kok Ling

Key Practice Areas:

Debt
Capital Markets
Sukuk
& Islamic Products
Corporate
Banking
Project
Finance

Gan Kok Ling is a Partner in the banking and finance department of Adnan Sundra & Low since January 2008.

In the first 2 years of her practice, she was extensively involved in corporate work including mergers and acquisitions, joint ventures and corporate restructuring exercises, as well as real estate matters. Since 2002, she has been primarily involved in banking and finance and debt capital markets.

Some of her notable banking and finance and debt capital markets experience includes advising on the issue of debt securities for the financing of several infrastructure and energy projects in Malaysia, including light rail transit, monorail, highways, telecommunications, gas and coal fired power plants and solar plants, private finance initiative fundings and the privatisation of water supply in Malaysia; government guaranteed debt issuances by various government agencies and government-linked companies; the securitisation of staff loans originated by a corporation and the corresponding issuance of asset backed securities; the issuance of stapled income securities; issuances of structured products and structured warrants, several issuances of conventional and Islamic convertible securities; several issuances of perpetual securities; issuances of exchangeable bonds and Sukuk; real property securitisation exercises, issuances of sustainable and responsible investment (SRI) Sukuk and Asean Bonds and Sukuk (including Green, Social and Sustainability issuances) and issuances of notes and Sukuk by real estate investment trust issuers in Malaysia.

Qualifications
  • LL.B. (Hons) – University of Nottingham, England
  • Certificate in Legal Practice
Admissions
  • Malaysian Bar (1999)
Languages
  • English
  • Bahasa Malaysia
  • Mandarin
  • Cantonese
Accolades
  • Chambers and Partners – Asia Pacific 2021 – Malaysia: Banking & Finance – Band 3
  • Chambers and Partners – Global 2021 – Malaysia: Banking & Finance – Band 3
  • IFLR 1000 – Capital markets, Banking, Islamic finance – Rating: Highly regarded
  • Legal 500 – Other key lawyers/practice heads for Banking & Finance, Capital Markets and Islamic Finance
  • Legal Media 360 – Malaysia: Banking & Finance – Rank 10th
Market Leading Experience
  • Advising Syarikat Prasarana Negara Berhad on the acquisition of the assets of Sistem Transit Aliran Ringan Sendirian Berhad and Projek Usahasama Transit Ringan Automatik Sendirian Berhad.
  • Advising DanaInfra Nasional Berhad, in connection with a RM8.0 billion (now upsized to RM71.0 billion) Islamic commercial papers and Islamic medium term notes programme (including issuance of retail sukuk/exchange traded sukuk) guaranteed by the Government of Malaysia and Syndicated Revolving Credit-i Facility of up to RM4.0 billion.
  • Advising CIMB Investment Bank Berhad and Standard Chartered Saadiq Berhad in relation to the Islamic Medium Term Notes pursuant to a Ringgit-Denominated Islamic Medium Term Note Programme of up to RM3.5 Billion in nominal value by GULF Sukuk I Company BSC (C), the first issuer from the Kingdom of Bahrain to issue in Malaysia.
  • Advising a consortium of banks in the provision of project finance of RM6 billion to SKS-Tanjung Bin for the construction of a 3 x 700 mw coal fired power plant. The financing was achieved through the implementation of a RM5.6 billion Islamic medium term note programme involving (for the first time in the Malaysian capital markets) the Islamic principle of Istisna.
  • Advising a consortium of four financial institutions in relation to the issue of RM4.85 billion Istisna notes under an Islamic debt programme and a junior Istisna facility of RM895 million granted to Jimah Energy Ventures Sdn Bhd and the issue of RM1.015 billon Inah notes under an Islamic debt programme by Special Power Vehicle Berhad for the financing of a 1,400 mw coal fired power plant.
  • 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.
  • Advising Affin Hwang Investment Bank Berhad in relation to a Sukuk programme for the issuance of up to RM250.0 million in nominal value based on the Islamic principles of Istisna’ and Ijarah and 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 by Tadau Energy Sdn Bhd, for the financing of four (4) solar photovoltaic plants with an aggregate net capacity of 50 MWac, all located in Kudat, Sabah, Malaysia. The first issuance of the Green SRI Sukuk under the programme was made on 27 July 2017, and was the first green Sukuk issued in the world.
  • Advising as Malaysian counsel to Malaysia Sukuk Global Berhad, a special purpose vehicle of the Government of Malaysia in 2016 in relation to the issuance of USD1 billion Trust Certificates due 2026 and USD500 million Trust Certificates due 2046.
  • Advising RHB Investment Bank Berhad in relation to the ASEAN Green SRI Sukuk programme of RM200.0 million in nominal value by Pasukhas Green Assets Sdn Bhd to, among others, fund the acquisitions of eligible SRI projects, including the refinancing for the construction of the hydropower plant located along Sungai Rek in Olak Jeram, District of Kuala Krai, Kelantan with an installed capacity of 3.2 MW. Each tranche of the ASEAN Green SRI Sukuk programme is to be guaranteed by a Kafalah provider, and the first tranche of the ASEAN Green Sri Sukuk is guaranteed by Danajamin Nasional Berhad.
  • Advising AmInvestment Bank Berhad, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad in relation to an Islamic medium term notes programme and an Islamic commercial paper programme with a combined limit of RM3.0 billion in nominal value and a sub-limit of up to RM500.0 million in nominal value for the Islamic commercial paper programme by Midciti Sukuk Berhad, a special purpose vehicle under KLCC Real Estate Investment Trust.
  • Advising HSBC Bank Malaysia Berhad and Kenanga Investment Bank Berhad in relation to a perpetual notes programme for the issuance of notes of up to RM10.0 billion in nominal value by SUNREIT Perpetual Bond Berhad (the first perpetual notes issuance by a REIT in Malaysia).
  • Advising AmInvestment Bank Berhad in relation to the issuance of asset backed securities of up to RM250 million nominal value of commercial papers and up to RM1 billion nominal value of medium term notes under a commercial paper programme and a medium term note programme respectively by AmMortgage One Berhad.
  • Advising Khazanah Nasional Berhad in relation to the SGD600 million exchangeable trust certificates due 2018 exchangeable into ordinary shares of par value RM1.00 each of IHH Healthcare Berhad issued by Indah Capital Ltd and guaranteed by Khazanah Nasional Berhad.
  • Advising Societe Generale in relation to the establishment of a multi-currency sukuk programme of up to the nominal amount of RM1.0 billion (or its equivalent in a foreign currency) in accordance with the Shariah principles of Wakalah bi al-Istithmar (comprising mixed components of debt and asset) by Alef II S.A. (a wholly-owned subsidiary of Societe Generale Bank & Trust S.A.).

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