BANKING AND FINANCE
The department is headed by our Managing Partner Muhd Anuwar Bin Mustafa.
In the increasingly innovative and complex market-driven financial world where business efficacies are constantly balanced against business risks.
- Sound up-to-date legal advice founded on experience and know-how
- Drafting expertise
- A commercial and practical approach
- Meticulous checks and care vide a check list and turn around time line in the preparation of documentation
We are equipped:-
- Security a commercial understanding of a broad spectrum of financial transactions and
- To deal with the businesses, problems and requirements of our clients and the markets in which they operate.
- Security documentation and the financing process complies with legal principles the client’s requirements, the statutes such as the Companies Act and other factors which affect the standing of the facility.
- A non-Malaysian corporate guarantor will require checks for compliance with the laws of their residence.
- The correct completion of the Registry of Companies’ forms such as for partial discharge of facilities as distinguished from full discharge and other undertakings.
- That the financier’s interest is safeguarded at all times
- Status reporting is prompt and in accordance with the client’s requirements be it by email, fax or post
We value add by:-
- Supporting our finance clients with good leads and business opportunities for their range of products.
- Advising the financier as to the legal feasibility and adequacy of the proposed method of taking security
- Scrutinizing the proposed security and security documentation requested by the financier from the customer and highlighting any detrimental issues.
- Updating our client with developments and/or changes in law, practice and procedure affecting the banking facility, the security or our client as the financier.
- Directives of a particular land registry which could affect the timing of a facility draw down
- The non-transfer of ownership of a security property in favour of the customer thereby delaying the charge of the property.
We have drafted and prepared documentation for various financial products and securities:-
- Housing and commercial loans (land, land and building factory, shop house, shop office, commercial unit)
- Term loan, Overdraft, Term loan and overdraft or trade lines
- Trade financing facilities
- Share financing
- Bridging finance
- Hire purchase
- Letters of Undertaking/comfort
- Assignments of rental and others
With the advent of Islamic Banking and the various offering of products and services, we have set up a special department focusing on this.
We have the infrastructure to support our client:-
- Our lawyers are educated and continually trained in the Islamic, economic and banking system.
- We study, apply and apply a checklist to ensure conditions in the documents comply with the principles of Islamic, banking recognized in Malaysia so that the transactions are valid.
- The timing and sequence of the “akad” particularly the sequence for the execution of the agreement which must be in order.
- The stamping of the documents in a Bai-Bithaman Ajil facility is based on the facility amount as stated in the Property Purchase Agreement and not in the Property Sale Agreement.
- The validity of a Sale (“Bai”) and
- The contract or transaction (“Akad”)
- The goods/assets involved must be “halal” and the contract must be free from riba