Could you provide a brief journey of how you arrived where you are today?
I started my career with Petronas, the Malaysian national oil corporation, having won its scholarship to pursue my law degree at University of Malaya. In 1990, I was lured into private practice. I moved to another law firm in 1995, where I started a corporate commercial department, building it up to 19 attorneys within 4½ years. Our firm was established only in September 2000.
What does your role involve?
I am responsible for strategy development, which involves incorporating the latest developments in technology and best practices.
I am also responsible for the expansion of the organic and non-organic growth of the firm; maintaining, renewing and reviewing strategic alliance arrangements; as well as developing new contacts and cultivating potential strategic partners.
What is your greatest achievement to date?
I reckon that would be, among others, being consistently named as one of the leading lawyers for corporate and M&A (merger and acquisition) in Malaysia since 2001 to date by Legal 500, and being named as a leading capital market/corporate finance by IFLR (International Financial Law Review) for three years since 2006.
In 2001, I negotiated membership in TerraLex, the second-largest independent law firm grouping in the world. This culminated in the creation of an entity with a market capitalization of US$13.5 billion, making it one of the top three-largest companies listed on Bursa Malaysia. It is also the largest merger in the corporate history of Malaysia.
Which of your products/services deliver the best results?
Our main specialty is cross-border acquisitions, cross-border investments and cross-border litigation management. Over the last two years, we have had the privilege of attending to numerous Islamic transactions involving Islamic banking and product development. These include advising leading investment banks in Malaysia on the issuance of up to RM2.5 billion (US$763 million) Murabahah commercial papers, and another RM1 billion (US$305 million) medium-term notes/commercial papers by a company involved in shipping.
What are the strengths of your business?
In respect of competitiveness, it is through our association with TerraLex that Azmi & Associates is able to tap into the talent and expertise of a massive pool of lawyers worldwide to assist Malaysian clients in doing business in over 100 countries, efficiently and cost-effectively.
What are the factors contributing to the success of your company?
In a nutshell, the success of our firm has been driven by many factors, but three stand out – investment in human capital, investment in technology, strategic management planning processes for our firm, internally or with the help of external management and consultants, and global best practices
What are the obstacles faced in running your business today?
Starting a business is not without obstacles. In fact, the whole process of entrepreneurship seems like overcoming one challenge after the other. Going blindly into the business: Passion is not enough; you need to know what you are getting into.
False confidence: Even if you think you know something, think again. The adage ‘a little knowledge is a dangerous thing’ is so true in entrepreneurship.
Lack of faith in yourself: The lack of belief that you can achieve growth and success while having fun is the number one killer of any business. Believe in yourself first, and your ideas and success will follow.
Burden of being the boss: If you don’t do a task, it won’t get done (unless you can already afford employees). Work may sometimes spill over and cut into your family life.
Where do you see the Islamic finance industry, maybe in the next five years?
It is hoped that Islamic finance can be provided through multiple and more convenient channels that will in turn expand the scope and reach of services. Islamic finance will flourish with its international dimension gaining greater significance. The Islamic financial system in Malaysia has become among the most comprehensive and active in the world. Accompanying this development has been the strengthening of the regulatory framework and the Shariah governance practices.
Name one thing you would like to see change in the world of Islamic finance?
We want Islamic finance to be better accepted among European banks, the emerging markets of Japan, China and other Western countries. The Islamic financial system provides solutions and best practices, for instance, in respect of liquidity where demand of financing is met. Muslim lawyers should come to the forefront and become the phase-setter, through culmination of experience, deep understanding of the operation of the global financial legal system and to infuse the integration of Islamic system in order to show the supremacy of the Islamic banking system.
Azmi & Associates leverages on technical, industry and legal knowledge, and hands-on experience to serve a diverse client base, from global MNCs to emerging growth entities, spanning a broad range of industries. Visit www.azmilaw.com