Cheang & Ariff

Capital Markets | Corporate

Partner

Practice Focus

Ming-li’s expertise is in the practice area of corporate and securities law where she is involved in advising on capital market transactions and related corporate finance work, mergers and acquisitions advising on intervention and statutory schemes for distressed companies, debt and share restructuring schemes, and negotiations with creditors and other stakeholders, as well as handling the transactional aspects of the schemes. Ming-li regularly advises on financial and securities regulation, corporate governance and regulatory compliance matters. She also assists her corporate clientele on the setting up of corporate and trust structures. She was actively involved in corporate and commercial litigation in her early years of practice with specific experience in intellectual property and arbitration matters.

​Experience and Credentials

Ming-li has over 28 years of experience in helping local and foreign clients on their corporate and securities transactions in Malaysia and overseas and has advised on many notable capital market transactions, debt restructuring schemes, mergers and acquisitions and equity fund raising over the years. She is consistently recognised by independent publications as a leading individual for her corporate and capital markets work and was named as Malaysia’s Top 100 Lawyers of 2021 by Asia Business Law Journal in 2021. She is recognised in IFLR 1000 as a Highly Regarded Lawyer, ranked as a Leading Lawyer in Corporate/M&A in Asialaw Leading Lawyers and named as a Leading Lawyer in Corporate/Commercial: Equity Capital Markets in Chambers Asia Pacific from 2019 to 2022. Some of her notable transactional experience include:

Capital Markets

IPOs

the listing of a data analytics and information services company (including a Reg S offering) with a market capitalization on listing of circa RM1.2 Billion.

the listing of an integrated logistics service provider with a market capitalization upon listing of circa RM900 Million.

the listing of a leading regional retailer of cosmetics and personal care products with a market capitalization on listing of circa RM468 Million.

the listing of an international property developer with an established presence in UK and Australia on the Main Market of the Bursa Malaysia Securities Berhad with a market capitalization on listing of circa RM3.0 Billion.

the listing of a popular chain of home-grown press and convenience stores on the Main Market of the Bursa Malaysia Securities Berhad.

the listing of the first Malaysian owned companies on the Alternative Investment Market of the London Stock Exchange (AIMs).

Corporate Finance

Advising Malaysia’s largest property developer in Malaysia by sales on its renounceable rights issue of approximately 3 billion new Class C Islamic redeemable convertible preference shares ("RCPS-i C") raising gross proceeds of up to RM1.2 Billion.

Advising one of Southeast Asia’s leading conglomerates with core interests in real estate, construction, education, healthcare, retail, and hospitality on its up to 2.8 billion bonus issue of shares together with 631 million warrants on a ‘step-up’ basis to raise maximum gross proceeds of RM965.44 Million.

Takeovers, mergers & acquisitions

Advising an award-winning Malaysian township developer on their reverse takeover of a public listed company

Advising one of the largest listed property companies in Malaysia with footprints across Asia, Australia, the United States of America and United Kingdom on a RM528 Million takeover offer initiated by its shareholder via a statutory scheme of arrangement

Advising a listed property developer on the proposal by its major shareholders for a privatization via a RM295 Million selective capital reduction exercise

Advising a Malaysian conglomerate in the diversified industries on its Proposed Corporate and Debt Restructuring with a total debt of approximately USD500 million under a statutory scheme of arrangement (including component schemes in Hong Kong under the Companies Ordinance, Chapter 32, Laws of Hong Kong)

Mergers and Acquisitions

Advising a Bahrain-based financial services group and a Malaysian general insurance company on the disposal of their 100% combined interest in the Takaful (Islamic insurance business) business valued at more than USD100 Million to a European insurance group headquartered in Zurich, Switzerland involving extensive vendor due diligence work.

Advising a Malaysian water treatment specialist company carrying on treatment services for private and government linked water and water related industries i.e. water, waste water treatment, food/ beverages and fluid/ liquid related industries on the disposal of its water filtration business division to a US multinational company as part of US company’s plan to expand its global network to South East Asia.

Advising a large multi-channel ASEAN media group based in Malaysia on the disposal of its controlling stake in a public listed company in Singapore for a cash consideration of S$115.61 Million

Corporate Advisory and Regulatory Compliance

Advising public listed companies and its directors on regulatory and statutory compliance matters, corporate governance issues, exchange control rules, trade policies, investment policies and regulatory controls.

Advising companies on the structuring and implementation of debt restructuring schemes, providing legal support throughout intensive negotiations with creditors, assisting in the formulation of strategies for restructuring and implementation of such schemes.

Advising distressed public listed companies on statutory requirements under the Main Market Listing Requirements and on the implementation of their schemes of arrangements and ensuing transactional work.

English

Aside from her corporate and capital market practice, Ming-li also serves as a member of the Disciplinary Committee of the Advocates & Solicitors’ Disciplinary Board of Malaysia.

Ming-li graduated with a double degree in both Law (Hons) and Science from the University of Melbourne. She was called to the Malaysian Bar in 1994.