What are the most significant cases or transactions that your legal team has recently been involved in?

The legal team at Edotco Group were involved in the acquisition of 2973 telecommunications towers in the Philippines through a sale and lease back transaction with subsidiaries of PLDT, Inc. This transaction is valued at PHP42bn (US$800m) and makes Edotco Group the leading tower company in the Philippines.

The legal team also successfully raised and issued RM1.4bn from a sukuk under Edotco’s newly established Islamic Medium Term Notes Programme of up to RM3bn. The sukuk issuance represents Edotco’s first venture into the ringgit debt capital markets for fundraising. The book-building exercise of the sukuk had garnered robust interest from investors, with the order book growing in excess of RM9bn at its peak that led Edotco to upsize the transaction from RM1bn to RM1.4bn, representing a strong bid to cover ratio of 5.2 times. The sukuk programme has been assigned a final rating of AA+IS with a “stable” outlook by MARC Ratings Bhd.

Further, the legal team was involved in the acquisition of 100% of Touch Mindscape Sdn Bhd, and its subsidiary companies from Touch Group Holdings Sdn Bhd. The total purchase consideration is RM1.7bn. This transaction enables Edotco to increase its tower market share from approximately 21% to 25%.

How do you see the general counsel role evolving in Malaysia over the next five-ten years?

The role of a general counsel has been evolving and will continue to evolve over the next five to ten years. There has been, and will be, a more expanded scope of responsibilities beyond legal matters. For example, I am currently one of the GDS committee, tasked to review requests and approve gifts and donations to third parties. I believe there will be more expanded scope in the future where general counsels will be wearing additional hats relating to governance, strategic and compliance matters.

In general, what would you like to see change about the external law firms you use?

I would appreciate it if external law firms responded promptly to inquiries and provide timely updates on ongoing matters. I would also like to see external law firms take a more proactive approach in their advice, for example, to anticipate potential legal risks and provide strategic advice to mitigate these risks. Commercial consideration to be factored in when providing the advice would be a great add.