⁣⁣Azmi & Associates was instructed to advise and manage one land disposal by Boustead Plantations Berhad and had our 1st engagement session with the client in late October 2024. Three (3) days later, we had a face-to-face negotiation with the counter party and their lawyers. Through seamless strategising amongst our team members, client and the counter party, the definitive transaction documents were signed on 6.11.24. The negotiations were not easy – more than 6 drafts were exchanged before parties came to a common landing, and the engagement was intense and engaging even during weekends and past mid nights, emails, and drafts were exchanged.

Three (3) main Conditions Precedents for the deal i.e. (i) Ministry of Economic’s approval, formerly known as Economic Planning Unit and (ii) Estate Land Board’s approval, and (iii) Adjudication of the Transfer Form. EPU’s approval was secured on 20.12.24, ELB’s approval secured on 26.12.24 and MOT adjudication was completed on 10.01.25. Draft submissions to the regulators were prepared when the transaction documents were being finalised, and applications were made within 5 business days after signing of the transaction documents.

The deal was completed on 15.1.25 with the full purchase price of RM473 Million, all paid and transacted via our Firm as stakeholders.

This is a clear demonstration of a very high level of efficiency, trustworthiness, and good project management at work. The two principals, too, were very keen to have the deal consummated fast and availed their presence to the lawyers to deal with commercials and other issues arising in the negotiations.

AzmiLaw team was headed by Dato’ Azmi Mohd Ali working closely with Mohd Sallahudin Abdullah Partner, and supported by Associates, Aqil Azim, Chempaka Nur Camelia, Jeremy Pang Jing Yang together with Trainee Lawyer Anis Hanani Suffian.

Corporate Communications
Azmi & Associates
23 January 2025