16 August, 2016
Wong & Partners, a member firm of Baker & McKenzie International, advised Maybank Investment Bank Berhad, the principal advisor, lead arranger and lead manager on the issuance of Islamic securities of up to MYR5.54 Billion in nominal value under the Shariah principle of Murabahah (via a Tawarruq arrangement) by Sarawak Hidro Sdn. Bhd., a government linked company established to develop and manage Bakun Dam, a 2,400 MW hydroelectric project in Sarawak, East Malaysia. Bakun is Malaysia’s largest hydroelectric dam. Proceeds from the Islamic securities will be utilised to refinance existing loan obligations, amongst other purposes. Bakun Dam generates a significant amount of electricity to meet the needs of the State of Sarawak and is key to the development of the Sarawak Corridor of Renewable Energy (SCORE). This is among the largest local debt capital market deals in 2016.
The deal was lead by partner: Mark Lim with support from Licia Tan, Faez Abdul Razak and Su Jean Yip
