RM 10.5bn
Transactions · 2009–2013 · Embedded
Pre-IPO. Five-fold profit. Then the IPO.
RM 280m → RM 1.4bn operating profit · Asia's largest IPO of 2012.
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Notch Associates
Est. 2017 — Kuala Lumpur
Senior partners for corporate Malaysia.
A boutique advisory firm led by operators — people who have run the companies, closed the deals, and carried the outcomes. The consulting craft is the second instinct, not the first.
Asia's largest IPO of 2012
RM 12bn PN17 Regularisation Plan
RM 206bn policy outcome
Fifteen mandates
01 — The Wedge
Operators first.
Operators first.
Consultants second.
The consulting craft is the second instinct, not the first. Every partner at Notch has held the line role before advising on it — they know the boardroom, the regulator, the bank, and the team. They have already made the call and carried the consequence. That is the whole of the difference.
↳Former Group CEO of a holdings group.
↳Senior counsel on Asia's largest IPO of 2012.
↳A Bursa-listed PN17 regularisation, from the inside.
↳Special Advisor to a Chief Minister.
02 — How We Engage
Two ways in. One principle.
A
Scoped Advisory
A defined question. Operator-led. Delivered to a deadline.
A senior partner leads the work end-to-end. You receive a written recommendation, a financial case, and a plan you can run yourselves.
The team learns the method.
Advisory
B
Embedded Delivery
Senior operators in the room. Until the outcome is real.
A Programme Office is stood up; a partner takes a line role where the mandate warrants, including interim CEO, CSO, or Programme Director, and is accountable for the outcome.
The team is built up to carry it forward.
In the room. Until it's real.
03 — Proof
Fifteen mandates.
RM10.5bn
TransactionsA major agribusiness — Asia's largest IPO of 2012.
RM12bn
StrategyA Bursa-listed energy group — PN17 Regularisation Plan submitted.
RM206bn
Public PolicyLong-term economic value preserved in a national policy review.
+309%
TransformationA holdings group — profit-after-tax improvement, loss to profit.
04 — Selected Work
Drag or use the arrows
The mandates, in depth.
RM 12bn
Strategy · 2022–2025 · Embedded
PN17 Regularisation Plan.
Submission of the PN17 Regularisation Plan to Bursa Malaysia and redesign of the corporate structure across 180+ entities.
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+309%
Transformation · 2019–2021 · Embedded
One turnaround. Four Notch people.
+309% PAT improvement — loss to profit in two years.
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RM 206bn
Public Policy · 2021 · Advisory
RM 206 billion protected.
A national medicine price control policy review.
Read the caseAll fifteen mandates, set out in full.
See the track record
05 — Practices
Five things we do.
Five things we do.
And we do well.
Each one leaves the team stronger.
01
Strategy & Public PolicyCorporate strategy at board and C-suite. Regulatory and government engagement where the answer changes national policy.
02
TransformationTurnaround, restructuring, and operational repositioning. Embedded until the outcome is real.
03
Transaction AdvisoryPre-IPO restructuring, M&A, demergers, capital raises, divestments. Advice on the deal and the consequences.
04
Digital Business BuildingNew digital platforms stood up inside established businesses, by the people who would have to run them.
05
Capability BuildingSenior teams brought up on the work — as the brief itself, and as the handover when an embedded engagement ends.
06 — Perspectives
How we read the room.
Restructuring
All perspectives
When PN17 is the beginning, not the end
A distressed classification is a turning point, not a verdict — and is best treated as the first day of a turnaround.
The FirmThe case against the leverage pyramid
Why the person who proposes the work should be the person who does it — and what the conventional staffing model quietly costs the client.
Public PolicyPublic policy is corporate strategy
For regulated industries, the regulatory environment is no longer a constraint on strategy. Increasingly, it is the strategy.
07 — The Partners
The person you write to is the person who does the work.
Senior Partner
Norzaimah Maarof
Barrister-at-Law, Inner Temple. 30+ years across corporate restructuring, transformation, capital markets, governance, and risk.
Partner
Ikhmal Azzmin
MBA, University of Sheffield. 15+ years across banking, corporate strategy, transactions, and transformation.
Partner
Heikal Rosnan
MSc Advanced Chemical Engineering, University of Birmingham. 13+ years across public policy, regulatory strategy, and government engagement.
08 — The Advisory Panel
Brought in by name, for the mandate that needs them.
Natasha Kamaluddin
30+ years in strategy, transformation, public policy, and corporate turnaround. Managing Partner, Ethos Consulting; Partner, Ethos Capital.
Dato' Chairil Nazri Ahmad
25+ years across renewable energy, infrastructure, biotechnology, and consulting. CEO, New Energy Division, Citaglobal Berhad.
Prof Dato' Ts Dr Noor Azizi Ismail
30+ years across higher education, accounting systems, and national education policy. 5th Vice-Chancellor, Universiti Malaysia Kelantan.
Noor Erni Surya Noordin
20+ years in senior financial management and organisational transformation. CFO, Jentayu Sustainables.