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Shook Lin & Bok is a firm that enjoys a traditionally good reputation in the banking and project finance area. This practice is led by well-regarded partner Jal Othman, who handles both conventional and Islamic financings. However, rising star and partner Kelvin Loh Hsien Han left the firm this year to Allen & Gledhill-backed Rahmat Lim & Partners.

Given its leading market position, the firm frequently acts for financial institutions in sophisticated transactions. "Shook Lin & Bok is a firm with a historic reputation that has long-standing relationships with lenders," says a peer.

Deals
Partners Jal Othman and Hoh Kiat Ching advised the financiers, facility agent, the security agent and the project agent regarding the grant of an Islamic financing facility of up to RM310 million ($97 million) to finance the construction costs of a generation plant for the supply of chilled-water cooling energy and electricity. The plant will provide cooling energy to an air transportation hub in Malaysia.

Othman, Hoh and partner Ng King Hoe also advised a development bank as fund manager regarding a facilitation fund of RM20 billion to promote private sector participation in public-private partnership (PPP) projects.

Shook Lin & Bok's capital markets practice, which is included in its corporate department, is led by respected partner Jal Othman. Though the firm handles conventional debt and equity capital markets transactions, its specialty lies in complex Islamic financing deals that require expertise, experience and personnel resources for the extensive documentation required.

Othman primarily advises lead arrangers and principal advisors and frequently acts for government-linked companies in sophisticated shariah-compliant transactions.

Though junior partner Kelvin Loh left the firm this year to join Rahmat Lim & Partners, Shook Lin & Bok retains the expertise of Patricia David Saini.

Deals
Showcasing his expertise in the Islamic capital markets, partner Jal Othman advised the lead arranger in the issuance of a sukuk musharaka (partnership finance) programme of up to RM15 billion ($4.7 billion) for a Malaysian utility company to partly finance the acquisition of a power plant in Malaysia. Othman also advised the lead arranger regarding the issuance of a musharaka MTN programme of up to RM380 million to finance the nationwide implementation of the Enforcement and Registration System for the Government of Malaysia, which is a system that will register and manager all foreigners entering and living in Malaysia.

Shook Lin & Bok boasts a long history and an outstanding corporate reputation. The firm leverages off its strong banking practice, in which it regularly acts for lenders and is frequently seen on M&A transactions involving financial institutions.

However, the corporate practice suffered a blow this year as promising junior partner Kelvin Loh departed the firm to join Rahmat Lim & Partners.

Deals
Partner Ivan YC Ho advised Hong Leong Islamic Bank in the transfer of all the entire business including assets and liabilities of EONCAP Islamic Bank via a vesting order of the High Court of Malaya and a scheme of arrangement following the 1965 Companies Act. The transaction represents the first time that a licensed financial institution was transferred in this manner. All previous transfers of financial institutions were governed by the 1989 Banking and Financial Institutions Act, which does not apply to Islamic financial institutions.

Shook Lin & Bok is frequently involved in landmark deals, such as acting for the Employees Provident Fund in its joint venture with SGX-listed GuocoLand. Clients appreciate the partners' focus on service and the firm's reasonable fees. "Though we use the other Singapore firms, there's more value added with Shook Lin & Bok. They're our first choice right now," a market-leading real estate developer says.

The firm's M&A practice is one of its key strengths and partners Wong Gang, David Chong and Michelle Phang are highly regarded by clients and peers alike. Gang works closely with private equity funds from both China and Singapore: "I have a long-standing relationship with Wong Gang," a client comments. "Like most lawyers, he has strong technical knowledge but the difference is that he draws [on experience] beyond the understanding of the legal profession; over the years, he has a deep understanding of the private equity business."

Fellow partner Chong is well known for his expertise in telecommunications and media related M&A transactions. Clients are impressed by his versatility: "David's very good technically and has a very good client manner. He is analytical and versatile: if you want him to be conservative, he will be, but if you want him to be innovative, he's able to execute."

One of the firm's traditional strengths is its banking practice, where partner Liew Kai Zee wins praise from clients: "He is very practical and helped us come up with ideas and solutions that protected the bank but helped both the bank and the client," says a client. "He's always reachable by mobile or e-mail. Whenever we need him, he'll be available."

The firm has grown its restructuring and insolvency practice recently with the promotion of Stephanie Wee to the partnership. Senior counsel and partner Vinodh Coomaraswamy was honoured for his distinguished record with his appointment as a judicial commissioner. However, though Coomaraswamy has moved away from private practice, the firm can draw upon a strong litigation team comprising senior counsel Sarjit Singh Gill and partner Pradeep Pillai. Partner David Chan, also involved in contentious work, draws plaudits from clients: "The last thing I want is a very textbook-based counsel. David tries to think outside of the box, and doesn't give you textbook answers," says one.

Deals
Demonstrating the firm's M&A expertise, David Chong and fellow partner Ho Ying Ming represented Nestle last year as Singapore counsel in its S$2.1 billion ($1.6 billion) acquisition of a 60% stake in Chinese company Hsu Fu Chi International.

Phang also acted in a rare hostile takeover, advising Hong Kong-listed Boer Power Holdings in its proposed S$164 million hostile takeover of Singapore-listed SMB United, though the offer was ultimately withdrawn.

On the capital markets side, partners Liew Kai Zee and Stanley Lim advised on Singapore law for NXP and its subsidiary NXP Semiconductors Singapore in the joint issue of senior secured floating rate notes worth approximately $615 billion by NXP and NXP Funding.

Partner Marilyn See meanwhile led a bond issue for Silver Oak, a SPV registered in Singapore. The deal consisted of an issue of $645 million in Class A Secured Floating Notes due 2018 and secured by its rights to Raffles City Singapore, a local landmark and a mixed-use property owned by CapitaCommercial Trust and CapitaMall Trust through RCS trust, a special purpose interest trust vehicle.

In the shipping sector, one notable restructuring and insolvency transaction saw senior counsel Sarjit Singh Gill advising the coordinating bank group on Singapore law in the proposed restructuring of Drydocks World. The company owns the Middle East's largest shipyard in addition to similar infrastructure in Indonesia and Singapore and 160 vessels.