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Jack Chor

Partner

Practice Area:

Banking & Finance
Construction & Projects
Energy & Natural Resources
Mergers & Acquisitions

LLM (International Financial Law), King’s College London
LLB (Hons), Cardiff University
Advocate & Solicitor, Malaysia
Barrister, United Kingdom (Non-practising)

T +603 2273 1919 / +603 2267 2729
E jack.chor@christopherleeong.com

Jack’s main practice areas are project development, financing and mergers and acquisitions. He is recognised by IFLR1000 as a Highly Regarded Lawyer for both Project Development and Banking, rated by The Legal 500 Asia Pacific as a Next Generation Partner for Projects & Energy and is also ranked by Chambers Asia-Pacific as Up and Coming for Projects, Infrastructure and Energy.

Jack, who is described as a "very accommodating energy specialist", is commended by clients for his "flexibility, [ability to see] see the bigger picture" (The Legal 500 Asia Pacific 2021) and "ability to devise creative solutions to legal issues quickly, and his flexibility and responsiveness" (Chambers Asia-Pacific 2021). Jack has also attracted praise for being "able to think outside the box and is practical, flexible and knowledgeable" (Chambers Asia-Pacific 2020) and "experienced, knowledgeable, attentive and quick to address the client's needs" (IFLR1000 2019).

Jack has significant experience advising on the development and financing of infrastructure projects. He has a keen interest in the energy sector and has advised on an extensive range of renewable energy matters. Jack also has broad experience advising lenders and borrowers on a variety of financing transactions, including acquisition financing, project financing, trade financing, alternative financing, derivatives and bonds / Sukuk issuances. He has also advised on mergers and acquisitions involving project assets.

These capabilities allow him to offer clients a one-stop point providing end-to-end advice across the entire project development and financing risk spectrum (from development to operating) and lifecycle (from opportunity to exit).

Experience
Construction & Projects and Energy & Natural Resources
  • Advising sponsors and developers on the participation in the corporate green power programme and development of solar projects for that purpose and advising on the structuring and drafting of virtual power purchase agreements.
  • Advised and continue to advise the respective investors, sponsors and developers on the development of no fewer than fifteen large-scale solar / LSS power plants in Malaysia, in particular advising on the corporate structuring and joint venture / joint development / consortium / shareholders’ arrangements, power purchase agreements / PPA (including reviewing, negotiating and conducting risk analysis of prescribed form PPA for utility scale projects), land use rights and land purchase / lease / tenancy arrangements, licences / consents / approvals required, project documents (including EPC and O&M contracts and asset management agreements) and financing documents (facility agreements and security documents).
  • Advised and continue to advise the respective investors, sponsors and developers on the development of commercial & industrial ("C&I") solar projects under the net energy metering ("NEM") regime and self-consumption ("Selco") scheme and on the structuring and drafting of power purchase agreements for those programmes.
  • Advised on a project for the proposed export of electricity from Malaysia to Singapore and the development of a power plant for that purpose.
  • Advised the sponsor and project company on the development of and financing for a 78MW nearshore wind power project in Vietnam.
  • Advised the sponsor and project company on the development of a 2x600MW coal-fired power project in Vietnam.
  • Advising purchasers on the proposed purchase of international renewable energy credits and the agreements to be entered into for that purpose.
  • Advised a paper and packaging manufacturer on the development of a paper machine, a wastewater treatment plant, a raw water treatment plant, a demineralisation water treatment plant and a cogeneration power plant.
  • Advised on the development of a biogas power plant and the management and treatment of animal waste generated for the purposes of fueling the plant.
  • Advised on the development of a biogas capturing plant on a build-own-operate-transfer basis.
  • Advised a renewable energy developer on the development of a power generation system (thermal oil heater and organic Rankine cycle turbine and generator) on a build-own-operate-transfer basis.
Banking & Finance
  • Acted as Malaysian legal counsel to over 20 financial institutions in respect of an approximately US$10.4 billion project financing facility for the development of a petrochemical and refinery project in Malaysia. The matter was named Asia-Pacific Petrochemical Deal of the Year by PFI Asia Awards 2019, Petrochemical Deal of the Year by The Asset Triple A Infrastructure Awards 2019 and Project Finance Deal of the Year by IFLR APAC Awards 2020 and ALB SE Law Awards 2020.
  • Advised the respective sponsors, developers and project companies on the financing to fund the development of large utility scale solar projects in Malaysia, by way of issuance of bonds / Sukuk, project financing, term loan, equity / internal financing and/or alternative financing. This includes advising a project company on its RM 275 million bridge loan facility to finance the development of a solar power plant. The matter won the Renewable Energy Deal of the Year for Malaysia at The Asset Triple A Sustainable Infrastructure Awards 2022.
  • Advised the sponsor and project company on facilities to finance the development of a 78MW nearshore wind power project in Vietnam.
  • Advised the sponsor and project company on a project financing facility to finance the development of a 2x600MW coal-fired power project in Vietnam.
  • Advised the borrower on an acquisition financing facility for the acquisition of a group of entities holding a portfolio of seventeen hospitals in Southeast Asia.
  • Advised as local counsel on a project financing facility to finance the development of a combined-cycle power plant in East Malaysia.
  • Acted as local counsel on a project financing facility to finance the development of glass production lines in Malaysia.
  • Acted as local counsel on a project financing facility to finance the development of a gas transmission pipeline system.
  • Advised the sponsor and project companies on syndicated loans to finance the development of several higher education institutions.
  • Acted as local counsel on a project financing facility to fund the development of an oil storage terminal, and advised on the post-financing restructuring, expansion of the project, up to the repayment of the facility.
  • Acted as local counsel to a syndicate of lenders on facilities for the acquisition by a leading renewable power producer of a leading hydropower developer.
  • Advised the borrower on the financing to fund the purchase of land and development of an integrated development consisting residential, retail and commercial amenities on it.
  • Acted for a subsidiary of Malaysia's sovereign wealth fund on the provision of a facility to finance the production of a theatrical motion picture.
  • Advised the lender on the provision of a facility to a shareholder to fund the subscription of equity in a project company, proceeds of the subscription which will be applied towards funding the additional development cost of an expressway.
  • Advised a Malaysian company in the healthcare sector on a multicurrency syndicated revolving facility to fund its acquisitions, investments and expansion.
  • Advised and continue to advise the respective sponsors, developers and project companies on the financing to fund the development of large-scale solar power plants in Malaysia, by way of issuance of bonds / Sukuk, project financing, term loan, equity / internal financing and/or alternative financing, all of which have achieved financial close.
Mergers & Acquisitions
  • Advised B.Grimm Public Company Limited, a Thailand-listed energy powerhouse, on its investment in reNIKOLA Holdings Sdn. Bhd., a Malaysian renewable energy company, and the subsequent sale of its stake in reNIKOLA Holdings to Pimpinan Ehsan Berhad, a Malaysian listed entity.
  • Advised on the sale of two large-scale solar farms in Malaysia, believed to be the first sale involving large-scale solar assets in Malaysia. Continuing to advise on similar transactions.
  • Advised on the disposal of project companies operating solar power plants with an aggregate capacity of 25MW under the feed-in tariff programme.
  • Advised on the acquisition of project companies operating solar power plants under the feed-in tariff programme.
  • Advised Thai Plaspac Public Company Limited, a Thailand-listed entity, on its acquisition of Combi-Pack Sdn. Bhd., a plastic food packaging and food container manufacturer.
  • Advised Gradiant, an international end-to-end water solutions provider, on its acquisition of Sigma Water Engineering (M) Sdn. Bhd., an industrial water and wastewater treatment company.
  • Advised the purchaser on the acquisition of a Malaysian tobacco manufacturer.
  • Advised global paints and coating company AkzoNobel in its acquisition of the Malaysian paints and coatings manufacturer Colourland Paints Sdn. Bhd.
  • Advised London listed Aseana Properties Ltd on the disposal of Aloft Kuala Lumpur Sentral Hotel.
  • Advised on the disposal of the entire equity interest in TF Value-Mart Sdn. Bhd., operator of a hypermarket chain in Malaysia, to KV Asia Capital, a private equity firm.
  • Advised on the disposal of the entire equity interest in an air freight operator.
Publications
  • Co-author, "A Guide to Renewable Energy In Southeast Asia", published by Rajah & Tann Asia (May 2022)
  • Co-author, "A Guide to Sustainable Financing In Southeast Asia", published by Rajah & Tann Asia (May 2021)
  • Co-author, "Lending and taking security in Malaysia: Overview", Practical Law (2015, 2016, 2018, 2019 and 2020)
  • Author, Malaysian chapter, "Guide on Promissory Notes and Cheques", Italian Business Association (Vicenza) (Jul 2014)
  • Contributor, "Media and Entertainment - A Practical Legal, Business & Strategy Guide", Sweet & Maxwell Asia, ISBN 978-967-0498-64-5 (Sep 2013)