Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Shearn Delamore & Co remains a dominant force in the banking and finance industry this year. One peer says: “The firm has established a sizeable reputation in the country for its financial and corporate work.” The banking practice has seen some changes however with the loss of partners Chen Lee Won and Fiona Sequerah in January and February 2011 respectively, but the arrival of partner Pamela Kung in February. A deal highlight for the firm was advising HSBC, Maybank Investment Bank and Standard Chartered Bank as arrangers of a multicurrency medium term note programme established by Malayan Banking. The transaction was valued at US$2 billion and completed in April 2011.

Peers say Shearn Delamore & Co is “the firm to beat among the main players in the market”. A client adds: “The lawyers there have been comprehensive and conservative in their advice. This helps to ensure that we are protected from unnecessary future legal issues.” A notable matter for the firm was its work for Khazhanah Nasional in its acquisition of a 70% stake in Teluk Datai Resorts. This deal completed in July 2010 and was valued at over RM300 million (US$100 million). An expected RM1 billion of investment is supposed to flow in to the development of Teluk Datai Resorts through this acquisition. Partner Ng Swee Kee is praised for his responsiveness by a client: “He makes himself available at all times or informs us of his availability beforehand to prevent any surprises.”

Shearn Delamore & Co retains its lofty position in the rankings this year, with one client saying: “It has a solid reputation of being one of the leading firms in Malaysia.” The firm’s strength in depth is an oft cited reason for its continued dominance. “The firm is staffed by very smart and technically competent lawyers who specialise in a wide range of fields,” adds another client. The firm acted for SP Setia in its joint venture with Setia Haruman in the acquisition of land for a mixed commercial and residential development in Cyberjaya. The deal was valued at RM420 million (US$141 million), with partner Sar Sau Yee leading the team on this matter.

“There is no faulting Shearn Delamore & Co. The firm is the standard that everyone else aspires to in this country,” says a peer. The dispute resolution practice is well positioned in the top tier for another year, as clients and peers unite to recommend the firm. One client says: “With the firm on board, a client has the assurance that it is receiving the best advice that money can buy.” The firm acted for Bechtel and BE & K International before the High Court regarding extended consultancy services from the clients. This case dealt with issues around whether an arbitration clause can be extended or incorporated by reference.

“Shearn Delamore & Co is a premier, first class IP practice in the country,” declares one market observer. The firm leads the pack for yet another year, with its domination of the IP market apparent to many clients. One says: “The firm goes that extra mile for its clients. It anticipates future problems or concerns and deals with these question marks without limiting its services or advice. It goes from being a law firm to a preferred strategic adviser.” The firm’s IP team is led by Wong Sai Fong and Karen Abraham, who are both regarded as “top class IP practitioners”. A highlight for the firm last year was its advice to the Agricultural & Processed Food Products Export Development Authority of India on the cancellation of Ponni as a trade mark for rice.

The IT, telecoms and media practice at Shearn Delamore & Co works closely with its intellectual property team, and this exchange has benefitted clients. “We have been impressed by the seamless delivery between its [IT, telecoms and media, and IP] teams,” says one client. “They’re both very experienced.” The firm acts for clients such as Hewlett Packard Asia Pacific, Computaris, and Measat Broadcast Network System.

Shearn Delamore & Co possesses one of the largest and “best run” labour and employment practices in the country, say peers and clients. The firm continues its dominance of the market, with one market observer noting: “The depth of the labour and employment practice at the firm is hard to beat. With its reputation as a top dispute resolution practice, the lawyers there are well equipped with all the necessary experience to get the best results.” A notable case for the firm was its representation of HSBC in a dispute where a performance review assessment was challenged by the union (Persatuan Pegawai-pegawai HSBC Malaysia Berhad Semenanjung Malaysia) as a trade dispute in the Industrial Court.

Shearn Delamore & Co sits atop the rankings this year after another consistently excellent performance. “The firm really deserves to be in the top tier by itself. No other outfit, short of the big four, can compare with it where tax work is concerned,” says one impressed peer. Clients praise the firm’s balanced approach, with one saying: “The lawyers were very professional and always pragmatic. They give a range of options to clients, and offer reasoned choices.” The firm advised Pantai Sabak Ventures, a subsidiary of Khazanah Nasional, in the tax aspects of its acquisition of a stake in Teluk Datai Resorts. Partner Goh Ka Im led on this transaction, which was completed in July 2010 and valued at over RM300 million (US$100 million).