LHAG Partners at the Malaysian Bond and Sukuk Conference 2019
Ong Eu Jin and S Saravana Kumar, partners of Lee Hishammuddin Allen & Gledhill, participated in the Malaysian Bond and Sukuk Conference 2019 held at the Securities Commission Malaysia from 28 to 29 November 2019.
Datuk Syed Zaid Albar, chairman of Securities Commission Malaysia and guest-of-honour, Dato’ Wira Haji Amiruddin Haji Hamzah, Deputy Finance Minister of Malaysia, delivered the welcome remarks and the keynote address, respectively, for the conference themed “Capital Markets for a Sustainable Future”.
Eu Jin and Saravana were panellists for the Special Presentation titled “Samurai Bond: Benefits and Challenges”, which discussed the issuance of Samurai bonds in the aggregate principal amount of ¥200 billion (approximately RM7.3 billion) by the government of Malaysia in March 2019. The other panellists who flew in to Kuala Lumpur for this session were Shinichiro Nagashima, Deputy General Manager, Global Capital Markets Promotion Department, Mizuho Securities Co Ltd; and Cheah Yew Wee, Head of Capital Markets and Regional Coverage of Daiwa Singapore.
The Samurai bonds, guaranteed by the Japan Bank for International Cooperation with a tenure of 10 years, marks Putrajaya’s return to the yen bond market after 30 years, as the last yen-denominated bond issuance by Malaysia was in 1989. Mizuho Securities Co Ltd, HSBC Securities (Japan) Ltd and Daiwa Securities Co Ltd were the joint lead arrangers for this issuance.
Eu Jin and Saravana acted as the Malaysian legal counsel for the government of Malaysia.
2 December 2019