Singapore

IFLR1000 Reviews

Overview

Solicitors governing body: Law Society of Singapore

Competition authority: Competition Commission of Singapore (CCS)

Financial regulator: Monetary Authority of Singapore

IFLR1000 ranking categories: 

Financial and corporate (published October) – Banking, Capital markets, M&A, Project finance, Project DevelopmentRestructuring and insolvency

Jurisdiction overview

As one of the world’s financial centres, Singapore is home to some of the most business-friendly regulations in the world and is ranked at the top of the World Bank’s ease of doing business index. Its strong government is ranked fifth in Transparency International’s Corruption Perceptions Index and the city-state has enjoyed a triple-A rated economy for years. 

Despite some restrictions, the legal market is open to foreign players. Since 2008, global law firms have been able to apply for Qualifying Foreign Law Practice licences (QFLPs) and can employ Singapore admitted lawyers to practice Singapore law in corporate and commercial areas. This development initially allowed six international law firms to practice in the country. 

Four among the six were UK based firms, Allen & Overy, Clifford Chance, Herbert Smith Freehills and Norton Rose Fulbright, largely because the legal system in Singapore is rooted in English law and the country has strong ties with the UK as a commonwealth country.

Other law firms that followed suit included Linklaters, Gibson Dunn & Crutcher, Sidley Austin, Jones Day, DLA Piper, Ashurst and Berwin Leighton Paisner. Others like US firm Morgan Lewis adopted strategies such as joint law ventures and foreign law alliances. It soon merged with local outfit Stamford Law Corporation to form Morgan Lewis Stamford.

The overcrowded legal market has traditionally also included the four largest domestic firms: Allen & Gledhill, Drew & Napier, Rajah & Tann and WongPartnership, as well as other key local players such as Colin Ng & Partners, Shook Lin & Bok and TSMP Law Corporation. 

The market is very competitive not only among the major international law firms opening offices in the city-state, but among the ‘Big Four’ domestic law firms that are expanding across the region and competing with each other and western law firms for new clients in emerging markets.

To further consolidate its position as a legal hub in the region, the Singapore International Mediation Centre (SIMC) and Singapore International Commercial Court (SICC) both opened in 2014 to expand the range of dispute resolution services available and attract more high-value disputes.

Candy Chan - Journalist - Asia-Pacific

Financial and corporate
Allen & Gledhill

One of the clear market leaders in Singapore, Allen & Gledhill, is ranked Tier 1 throughout the financial and corporate space. The firm has established itself as a regional player with an office in Myanmar, an associate firm in Malaysia and an alliance in Indonesia.

The firm’s flagship banking practice has maintained its position in the research period and has been active on several high profile transactions. The firm primarily advised international banks acting as lenders, arrangers, book-runners, and facility agents on several refinancing, acquisition financing and project financing mandates.

In addition to traditional capital markets work, the firm has extensive expertise in REIT and business trust related capital market transactions. The firm has been involved in almost all IPOs, introductions, listings, secondary offerings, and bonds issued by Singapore REITs and property business trusts. In the research period the firm was particularly active in debt capital markets. A noteworthy deal on the equity side saw the firm advise the sponsors and managers on the IPO of ARA US Hospitality Trust.

The firm houses one of the largest M&A teams in Singapore, which was recently active for both acquirers and sellers in sectors such as healthcare, power, real estate, technology and telecommunication, and logistics. In a newsworthy mandate the firm advised Allianz on its first core office investment in Singapore.

In the projects space the firm is often mandated by sponsors, financiers and government authorities to act on high profile projects across the region. Recent noteworthy work includes advising the project company in the development of the New Yangon City project.

On the restructuring front the firm advised has advised various creditors in the high profile restructuring of the debt of Hyflux.

Recent Deal Data highlights

• ARA US Hospitality Trust SGX IPO

• CapitaLand S$11 billion acquisition of Ascendas-Singbridge

• Facebook Asian data centre

• Hyflux Group S$1.5 billion debt restructuring

• Jewel Changi Airport mixed-use development

• Mitsui & Co $2.05 billion acquisition of a 16% stake in IHH Healthcare

• New Yangon City

• Sim Lian S$1.3 billion loan facility

 

Client feedback

“They provide a high quality of work that we have come to expect from this law firm.“ – Banking

“Highly competent with a good dose of commercial sense to resolve issues.” – Banking

“A&G has a strong banking team. We can always tap on their vast resources and industry knowledge to obtain consistent sound advice/solutions in a timely manner.” - Banking

“A very strong, talented bench with deep expertise in equity capital markets. With the firm having participated in almost all noteworthy transactions in Singapore, it is clearly the go-to firm for both issuers and banks. The partners provide balanced advice on legal solutions without losing sight of commercial considerations. They also have a close working relationship with regulators and are able to provide regulatory insights. Based on past working experience, I would say the firm does not seem to have any identifiable weakness.” - Capital markets

“The partners in A&G are all technically very sound and knowledgeable in their respective areas of specialities. Because they are involved in many landmark transactions in Singapore, they can call on the vast experience of the various partners within the firm to give sound legal advice.“ - Capital markets

“The services have been prompt and excellent and the quality has been very good. Sathia the main partner I deal with is very responsive and very practical in his thoughts and views. I would highly recommend Sathia.” – Financial and corporate 

“Total command of all aspects of the law relevant to the transactions. A trusted law firm that has nurtured a very strong bench of younger partners who deliver consistently strong advice.” – M&A

“Trusted Lawyers who are able to provide you end to end value chain ("total package") advice especially in the areas of construction and commercial/contract law. They have lawyers who understand the clients' needs and limitations and make an earnest effort. The legal advice provided is of the highest standards and doesn't fall short of expectations.” - Project development

“High-quality legal advice; good value for the professional services rendered. Strengths: Professional, responsive, experienced (in both legal and construction/project management issues) and patient with the client.” - Project development

“A&G is a top tier firm and combine both excellent legal advice and commercial insights.” - Restructuring and insolvency

 

Anil Changaroth

“The construction industry at second level value chain has grown to know him for his ability to represent the needs of smaller contractors and subcontractors.” 

Rhys Goh

“Rhys is a very professional lawyer who possesses very strong expertise in equity capital market transactions. He is very responsive (even outside normal working hours) and provides legal solutions that take into account commercial objectives.”  

“Technically and commercially astute and sharp and direct. Able to build good relationships and rapport with both issuers and underwriters.”

Chien Mien Ho

“Probably the best in the field, very balanced thoughts and pro-solution.”

“Knowledgeable and commercially savvy.”

Sathiaseelan Jagateesan

“The quality has been consistently excellent. He is a leading lawyer in his field.”

“Works as a team, very knowledgeable and provides quality advice in the matters that concern my company. The client management and relationship are known to be one of the best and he makes an effort to understand the needs and wants of the clients on a regular basis.”

“Very impressive legal and industry knowledge; responsive and experienced; able to identify legal and practical issues that should be considered and addressed by the client in making a commercial decision.”

Christopher Koh

“A highly competent legal adviser who is trusted to guide and execute transactions from inception to completion, thus minimising stress for his clients.”

Chee Wai Kok

“We appreciate his responsiveness, and we can always count on his experience to come up with sound advice consistently based on what we need to achieve.”  

Bernie Lee

“Nothing to improve on. The attention and quality of advice were good.“

Magdalene Leong

“I can't think of a better and more accomplished professional than Magdalene.”    

Wei Ting Lim

“An excellent legal practitioner who takes a practical approach to the law - balancing legalistic rigour with the commercial requirements of lenders and borrowers.“

“Excellent counsel with a brilliant legal mind. Has an astute understanding of commercial considerations. Strong ability to forge consensus with the party across the table. Has established himself as the go-to counsel for complex landmark transactions.“ 

Jafe Ng 

“Excellent. Understands our legal and commercial requirements. Able to provide solutions/alternatives to issues, pro-active, responsive and quick turnaround.”

“Jafe excels in his field of banking finance and has worked on numerous financing for our company as well as acting for banking counterparts. He can always be counted on putting his sharp legal mind to resolve difficult issues that were present in our past undertakings.”

Christopher Ong

“Christopher is an impressive and trusted adviser who readily considers multiple aspects of each legal question, and renders a considered response that balances legal requirements with commercial objectives. He is a humble person, yet highly effective in advising senior clients.”

Tze Gay Tan

“Excellent.”

“She is one of the top equity lawyers in Singapore, the go-to lawyer in solving difficult legal transactions. Very experienced and can think of innovative solutions. Always calls a spade and spade and gives direct and clear advice.”

“Tze Gay is a very experienced practitioner. She provides sound legal advice and views while taking into account commercial considerations. She is also able to convince clients to follow her advice.” 

Wee Meng Tan

“Works as a team, very knowledgeable and provides quality advice in the matters that concern my company. The client management and relationship are known to be one of the best and he makes an effort to understand the needs and wants of the clients on a regular basis.”

Jo Tay

“She is an excellent lawyer who has been able to seamlessly provide advice by gathering it from the relevant other lawyers at her firm. She is always available and willing to help. She has an interest in foreign insolvency law.”

Dentons Rodyk & Davidson

Dentons Rodyk & Davidson in Singapore has a diverse practice across the financial and corporate space and is recognised for its strength in project development.

A recent eye-catching banking transaction saw the firm advise the lender on providing the first and largest sustainability-linked loan in Asia’s real estate sector. The team has a wealth of experience in acting for both lenders and borrowers on the financing of enbloc acquisitions.

The capital markets team had a busy year and took on roles for an array of clients including arrangers, issuers, managers, trustees, and sponsors on matters such as rights issues, listings, IPOs, notes issues and private placements. A notable deal saw the firm advising Civmec on its dual primary listing on the ASX.

The firm’s recent M&A activities were a mix of buy and sell side work across a diverse range of industries. A highlight saw the firm acting for the target in a high value acquisition in the retail space. Another highlight saw the firm acting for an SOE in forming a joint venture to build the first oil refinery in Indonesia in over 20 years.

In projects work the firm advised on several cross-border mandates and was active in sectors including energy (conventional and renewable), oil and gas, mining, and utilities. An interesting deal saw the firm advising a consortium of Indonesian and Chinese entities on the development of a hydropower plant in Indonesia.

Recent Deal Data highlights

•                      Batang Toru 510MW hydropower plant

•                      CapitaLand S$300 million sustainability-linked loan

•                      Chifeng Jilong Gold Mining Co $275 million acquisition of a 90% stake in Lang Xang Minerals

•                      OUB Centre $370 million financing

•                      Peranap 2 x 300MW coal fired power plant

•                      Sulut-3 coal-fired steam power plant

•                      Walmart $16 billion acquisition of Flipkart

•                      Petroliam Nasional acquisition of a 100% stake in Amplus Energy Solutions

Client feedback

“DRD was excellent in its knowledge of Islamic finance and was instrumental in putting across Shariah requirements in an understandable manner to the other parties. They kept us abreast of developments and did an excellent job in filtering the necessary actions required on our part. This allowed us to focus on the actionable items and helped to reduce the amount of review required for each draft. The approach that DRD took to simplify Islamic financing for the client was commendable.” – Banking and finance

“Commercial and efficient.” – Capital markets

“The law firm is highly professional and took great initiative to help complete the tasks and to resolve all unexpected and difficult problems.” – Capital markets

“Very professional and mindful of client's needs and interest.” – Capital markets

“Sound knowledge of industry practices and standards, strong awareness of trustees' concerns and pragmatic approach to issues and strong partner involvement in transactions.” – M&A

"They provide excellent services, are very responsive and deliver the work on time."- Project development

Nicholas Chong

“Detailed review and analysis of issues, strong awareness of key considerations. Pragmatic approach to problems and solutions.”

Jonathan Guwe

“Very responsive.”

Chuan Li

“Very diligent.”

“Highly responsive and professional, provided solutions and accommodated all requests willingly.”

Nicholas Lim

Very responsive.”

Janice Ngeow

“Janice brought an immeasurable expanse of knowledge to the table and her counsel was key in highlighting potential pitfalls which we would not have foreseen. Her ability to communicate clearly to all parties helped to facilitate negotiations around the commodity murabahah facility as not everyone had prior experience in Islamic finance.”

“A lawyer with vast experience in her areas of focus, very responsive and great customer service. Understand clients' requirements.”

Joo Thye Tan

“Very sharp.”

 

Drew & Napier

Drew & Napier is a solid performer across the financial and corporate space, but its prized restructuring and insolvency practice sets it apart from competitors. 

The banking team has particular expertise in project financing. Recently the firm took on roles such as lenders and borrowers counsel on financing transactions for firms active in sectors such as real estate, shipping, oil and gas, and renewable energy.

In capital markets work the firm recently acted for issuers and underwriters on matters including IPOs, bond issues, rights issues, and overseas listings.

On the M&A side the firm’s clients include private and publicly listed corporates, venture capital funds, financial institutions, multinationals, and government entities. Highlights include advising on the first merger of two REITs in Singapore; advising on the formation of one of Asia’s largest cybersecurity companies; and acting for SoftBank Vision Fund in the disposal of its interests in Flipkart to Walmart.

In restructuring, the firm took on roles for lenders, agents, bondholders, and creditors and notably advised firms such as Nam Cheong and TT International on debt restructuring exercises. The firm was particularly active in oil and gas and shipping.

A significant staffing change saw Kenny Kwan leave the capital markets team for Baker McKenzie Wong & Leow. The restructuring team was boosted by the hire of Gary Wan from Prolegis.

Recent Deal Data highlights

·         eBay International $573 million acquisition of Giosis’ Japan business

·         ESR-REIT merger with Viva Industrial Trust

·         Haidilao International Holding HKEX IPO

·         IAG Holdings HKEX IPO

·         Nam Cheong $1.35 billion debt restructuring

·         Perennial Real Estate Holdings S$1.028 billion acquisition of a 50% stake in Capitol project

·         Starhub joint venture with Leone Investments

·         Walmart $16 billion acquisition of Flipkart

Client feedback

“Solid knowledge of local and international laws and regulations. Solid legal advice on commercial considerations from banking and legal perspectives. Solid advice on market standards from a banking perspective.“ – Banking

“Quality advice, quick turnaround time, reasonable rates and flexible charges. Offering to teach my banking staff in legal matters and update them on the latest developments in the legal arena.” - Banking

“The work is of the highest quality. “ - Capital markets

“Excellent. The law firm understands legal and commercial requirements.” - Capital markets

“It provides the full range of legal services to the clients. It is resourceful in helping the clients arrive at effective solutions in a timely manner when handling corporate work. The team exhibits a strong understanding of the business and provides value-added solutions.” - Capital markets

“Very high level of legal services of all kinds, as required by public companies and fund managers.” – Financial and corporate  

“Superb response and turnaround time; very good knowledge and understanding of the brief; easy to communicate and always available to discuss; very good fee structure; and approachable partners and associates.” - Investment funds

“Extremely professional, efficient and responsive given Take-over Code and Securities & Futures Act time constraints and several other issues which arose during the pre-Offer, Offer and post-Offer period.” - M&A

“The team from Drew & Napier in charge of our M&A work was detailed, thorough and quick in producing results. I was very satisfied with the outcome.” – M&A

“We have depended on the professional services of Drew & Napier's restructuring and insolvency team for more than 10 years and have never been disappointed. Overall, the quality of work (legal knowledge as well as an understanding of the market environment) has been outstanding. One aspect which we appreciated most is the team's ability to go beyond the legal aspects and advise us on the commercial implications.” - Restructuring and insolvency

“Drew & Napier's work is exemplary. Their strength is turnaround time, and I cannot point any weaknesses so far.“ - Restructuring and insolvency

“Extremely commercial and competent. Able to grasp issues affecting not just the legal position but those which relate to the commercial, political and reputational concerns of the clients.” - Restructuring and insolvency

 

Ron Cheng

“Highly professional, responsive and knowledgeable.” 

Pauline Chong

“Highly professional, responsive and knowledgeable.”

“Excellent legal and commercial advice on banking matters which is current and practical for business purposes.”

“Strong in corporate banking matters, understands trade and treasury products very well, always giving ideas for better ways of structuring financing lines, innovative in helping the find suitable solutions, and willing to walk the extra mile, clocking extra hours to rush out urgent cases.“

“One of the better legal professionals around, she is helpful, knowledgeable and professional in her dealings.”

“She is quick to respond with precise input. Use of associates for routines is very helpful in reducing the cost without compromising the quality. I could not see any weakness during our interaction.“

“Pauline is very detailed when she reviews documents. She brings in a local perspective and provides the best practice in the market for such documents. She gives easy to understand examples so that we can understand why certain clauses needed to be worded in a certain way. This really made my job so much easier. It is so pleasant to be working with Pauline.”

Blossom Hing

“Blossom stands out at her firm as a highly dedicated, conscientious and thoughtful. Blossom has a wealth of experience in insolvency and litigation in Singapore and is very versatile. She brings all her experience to bear in solving complex legal issues.”

“Extremely competent and commercial. Addresses not just the legal problems facing the client, but provides solutions tailored to the client's needs.”

Petrus Huang

“Very good lawyer with a lot of legal and business knowledge; very receptive.”

Michael Kwan

“Michael is highly responsive to any queries raised and is always contactable, which is an important attribute. In addition, he dispenses practical advice which takes into consideration both compliance and commercial factors for the client.”

Julian Kwek

“Both Sushil and Julian are excellent lawyers in all respects: intelligent, hardworking, responsive to client needs and creative.”

“Julian has a tremendous depth of understanding and knowledge of the Indonesian market which we are operating from. This knowledge had been most useful when assisting us to make major divestment decisions. He is able to think outside of the box and highlight to us, apart from legal issues, the commercial implications.“

Grace Lai

“Completely professional and highly responsive.”

“Excellent work. She delivers timely and effective solutions and advice to the client, and really understands the needs of the business and owner. Great time management.“

Renu Rajan Menon

“Absolutely wonderful to work with. Solid knowledge of the subject matter and superb attention to the deadlines.”

“Very strong commitment and ability to deliver. Excellent skills in communication and delivery.“

“Responsive and effective.”

Jon Nair

“Good at giving practical solutions in a timely manner.”

“He was very detailed, quick to respond and overall did a fantastic job.”  

Sushil Nair

“Both Sushil and Julian are excellent lawyers in all respects: intelligent, hardworking, responsive to client needs and creative.”

 

Duane Morris & Selvam

Duane Morris & Selvam’s Singapore office is best known for its capital markets work and serves as a hub for the firm’s regional practice. Since the firm is structured as a joint law venture, it can offer both foreign and local law advice.

The firm has significant experience in representing issuers, underwriters, placement agents, investment banks and investors in public and private offerings across the region. During the past year the firm had a special focus on India and acted mainly for the book running lead managers on numerous IPOs and private placements.

Key sectors of focus for the M&A team are technology and telecommunications, oil and gas, energy, utilities, consumer goods, media and entertainment, and pharmaceuticals. Although the firm was mainly mandated to act for acquirers this research period, it also worked on joint ventures and general corporate advisory matters. A highlight saw the firm advise a US private equity firm on its acquisition of an SGX-listed electronics manufacturer.

Recent Deal Data highlights

•                      Affle Holdings NSE IPO

•                      Anmol Industries NSE IPO

•                      Fine Organic Industries NSE IPO

•                      IndusInd International Holdings $205 million rights issue

•                      NCC $79.8 million qualified institutions placement of shares

•                      Platinum Equity Advisors International S$203 million acquisition of PCI

•                      Prince Pipes and Fittings NSE IPO

•                      White Lodge Education Group Services acquisition of Invictus International School

Mayer Brown

Mayer Brown’s clear strength lies in its projects work.

The firm’s banking offering covers all key products relevant to international banks and borrowers in the region and has a special focus on India related acquisition and leveraged financing. The team also has experience in advising on structured trade and commodities financing and financial services regulatory work. During the research period the firm mainly acted for international banks and financial institutions on an array of confidential financing mandates.

In the projects space the firm is known for working on oil and gas projects regionally and has a particular focus on energy and infrastructure in emerging jurisdictions, including Myanmar, Pakistan and Indonesia. In the recent past the firm acted for clients including developers, lenders, and sponsors on several confidential oil and gas and power projects throughout the region.

The banking team hired partners Ian Roebuck and Kayal Sachi from Allen & Overy recently.

Client feedback

"Extremely professional, good industry experience and ability to understand clients situation well. I am impressed with their willingness to go the extra mile to ensure our interests in the transaction are well protected."– Banking

“Very analytical and good quality.” – Banking

“Strengths - subject matter experts on this topic. Clear and responsive dialogue with the firm's partners.” - Banking

Angelia Chia

”Insightful and innovative. Has depth in the subject matter.”

Ben Sandstad

“Excellent in all aspects.”

Morrison & Foerster

Morrison & Foerster in Singapore is recognised for its strength in M&A.

During the research period the firm acted for both borrowers and lenders in matters such as refinancing and acquisition financing. An interesting deal saw the firm advising the lenders in extending a margin loan facility to the subsidiaries of an investment firm.

In corporate and M&A, the firm focuses on sectors including technology and telecommunication, media, financial services, private equity and real estate. The firm had a busy year in M&A, having advised on M&A transactions worth over $25 billion. A noteworthy recent deal saw the firm advising the seller on one of the largest outbound deals for an Indonesian purchaser. A high-value mandate saw the firm advising the acquirer in the largest private M&A deal to be done in Bangladesh involving a foreign counterparty.

Recent Deal Data highlights

•                      BlackRock acquisition financing

•                      Chubb Asia Pacific / Grab joint venture

•                      Go-Jek $72 million acquisition of Global Commerce Technologies

•                      Japan Tobacco $ 1.5 billion acquisition of Akij Group’s Tobacco Business

Client feedback

“MoFo is competent, professional and speedy in its legal work. The lawyers are knowledgeable and contactable at all times.” – Banking and finance

“Efficient, pragmatic, to the point. Coordinate with the borrower well, so the documentation and closing process are smooth. Many other law firms tend to quote low and create issues as the deal continues. MoFo understands and articulates the issues from the start and give choices and find solutions. They are a breath of fresh air.” – Capital markets              

“Maria Steeples and MoFo are the go-to team for us in underwriting M&A deals across Asia. Their market expertise, allied to their deep understanding of our product, makes them clear market leaders.” – M&A

“Highly impressive team with extensive experience of complex, multi-jurisdictional matters. Particular expertise in tech and sophisticated M&A matters.” – M&A

“MoFo provides a fantastic service to us. We predominantly work with the of-counsel at MoFo, Maria Steeples, who is very experienced and knowledgeable about our M&A insurance product. We have found Maria and MoFo to be very effective, incredibly personable, timely and reliable. Having great legal rigour but applied with a very commercial approach. To us, MoFo is the gold standard in deal counsels!” – M&A          

PK Wong & Nair

Nair & Co merged with PK Wong & Associates in January 2020 to form full-service firm PK Wong & Nair.

Nair & Co is known for its restructuring and insolvency practice.

The firm advises bondholders, other creditors, debtors, trustees and liquidators in a wide variety of industries.

Recent highlights include advising a shareholder in the highly publicized restructuring of Nobel Group; and advising the principal guarantor in a landmark mandate.

The firm strengthened its position with the hire of Jean Foo as a director from Fortis Law Corporation.

Recent Deal Data highlights

•                      Berau Capital Resources / Berau Energy insolvency

•                      FMTS Holdings debt restructuring

•                      Noble Group financial restructuring

•                      Pacific Andes Resources Development insolvency

•                      Swiber Holdings restructuring

Client feedback

“Nair & Co is an outstanding Singapore law firm. Headed by Suresh Nair, his (and the firm's) creativity and willingness to "go the last mile" for the client is unparalleled in Singapore. Where other Singapore lawyers are ponderous and conservative, Suresh is a creative and highly agile lawyer. He and his team are problem solvers and are dedicated to their clients. Nicole Foo is a wonderful lawyer whose attention to detail and dedication is second to none. Nicole is undoubtedly one to watch for the future." - Restructuring and insolvency

“Nair & Co is an efficient, high-quality law firm and its lawyers are very commercial and fantastic advocates who are always willing to push the boundaries.” - Restructuring and insolvency

“Solid firm with exceptional expertise, good response time, and practical, personable service.“ - Restructuring and insolvency

“Very Professional and gives sound advice, responsive and has a quick turnaround.” - Restructuring and insolvency

“Effective and efficient, commercial minded and understands issues on the ground.” - Restructuring and insolvency

“Very good. I think what sets them apart is that they provide a commercial aspect in their thought process and not just a legalistic approach. This brings value to businesses.” - Restructuring and insolvency                

Providence Law Asia

Providence Law Asia is a boutique law firm specialising in cross-border and domestic restructuring and insolvency matters.

The firm recently acted for liquidators and creditors on the liquidation proceedings of firms’ active in sectors such as real estate, technology, financial services and real estate.

Quahe Woo & Palmer

Quahe Woo & Palmer is best recognised for its strength in corporate and M&A.

During the research period the firm was predominantly active on M&A matters, advising joint venture partners, buyers and sellers. A highlight saw the firm advising the acquirer in a large and high profile cross-border med-tech M&A deal.

Sectors of activity include healthcare, retail, food and beverage, technology, construction, social infrastructure, and entertainment.

Recent Deal Data highlights

•                      Arkema Asie RMB700 million acquisition of Taixing Sunke Chemicals

•                      Ekuiti Nasional RM98 million acquisition of a 40.36% stake in Exabytes Capital Group

•                      Integra LifeSciences Holdings Corporation $1.045 billion acquisition of Johnson & Johnson’s Codman Neurosurgery

•                      Omron Healthcare / iAPPS joint venture

•                      OYO Corporation S$6 million acquisition of majority stakes in Fong Consult and FC Inspection

•                      Security and Intelligence Services S$43 million acquisition of a 60% stake in Henderson Group

•                      Shiji acquisition of Conceptek-Sistemas de Informação

•                      Xtep Holdings / Gemini Operations joint venture

Client feedback

“Overall, good and competent legal services provided.” – Capital markets

"Responds in a professional and timely manner. Able to manage the relationships with various stakeholders.” – M&A

“Very professional, prompt and efficient.” – M&A

“Good senior-level attention, a good quality team and reasonable prices.” – M&A

“Incisive and prompt responses.” – M&A

“The advice given by the Quahe Woo & Palmer is robust and practical. We are fully satisfied with the advice.” – M&A

“Quahe Woo & Palmer are professional, prompt, insightful, and knowledgeable in a wide variety of legal requirements. They not only assist in structuring and reviewing legal documents, but they also provide solid commercial advice regarding our discussions, negotiations, and disputes with parties. I find their service to be exemplary, and I struggle to find faults or areas of required improvement.” – Private equity

Rajah & Tann Singapore

Rajah & Tann in Singapore is a consistent performer across the financial and corporate space and excels in project and restructuring work.

The banking team acts for domestic and international banks, financial institutions, and corporates on a wide variety of instruments and cross border transactions. During the research period the firm acted for an array of stakeholders such as lenders, arrangers, and financiers on several real estate finance, project finance, acquisition finance, Islamic finance and structured finance transactions. A highlight mandate saw the firm act for the lender on the world’s largest Islamic bilateral hotel financing deal and Singapore’s first Islamic real estate financing in the core central business district.

In capital markets work the firm has experience in acting for issuers, issue managers, underwriters, and originators on deals from across the spectrum of capital markets transactions. A recent highlight saw the firm advise on the issue of the first catastrophe bond in Singapore.

In M&A the firm took on both buy and sell-side roles in acquisitions and advised on mergers. Recent highlights include acting for sell-side in the award-winning, high profile acquisition of Global Logistics Properties and acting on the first merger between two real estate investment trusts in Singapore.

In the projects space a noteworthy mandate saw the firm advising the developer on the largest private sector property development initiative undertaken in Thailand.

The firm’s restructuring team was the first dedicated restructuring and insolvency practice group in Singapore and remains the largest of such dedicated practice groups in the jurisdiction. The team has acted for a wide range of clients, including lenders and creditors ( both secured and unsecured), debtors, and liquidators, judicial managers, receivers, scheme managers and independent financial advisors. The firm notably acted on the debt restructuring of Nam Cheong - one of the largest debt restructuring exercises in the oil and gas industry locally.

Staffing changes saw the appointments of new partners Eugene Lee from Prolegis to the capital markets and M&A teams, and Loh Chun Kiat from WongPartnership to the M&A team.

Recent Deal Data highlights

·         ESR-REIT / Viva Industrial Trust merger

·         Hong Leong Asia S$202.3 million rights issue

·         Koufu Group SGX IPO

·         Nam Cheong $1.35 billion debt restructuring

·         Nesta Investment Holdings $11.87 billion acquisition of Global Logistics Properties

·         One Bangkok

·         SIT multi-energy microgrid

 

Client feedback

“The counsels are precise and meticulous in the approach and offer comprehensive, prompt and strategic M&A and banking/finance advice.” - Banking

“Shemane Chan was thorough in drafting, providing for all possibilities in the first cut, and determined and dogged in the negotiations that ensued.” - Project development

Shemane Chan

“Thorough in providing the first cut of the draft. Determined and dogged in the ensuing negotiations. Always flexible to accommodate calls and discussions with clients.“

Xin Mei Lee

“She is perfect for our company needs and requirements. We could not have breezed through the past challenging transactions without her help.”

Shook Lin & Bok

Shook Lin & Bok in Singapore is strongest in M&A and restructuring work. The firm is also skilled in advising on real estate matters across all practice areas

The firm has had a strong period across financial and corporate. It acted on the first sustainability-linked loan in Asia's real estate sector; the listing of a South-Korean internet company on the Official List of the SGX; the proposed acquisition by a Chinese steel-maker in a bid to become the world’s third-largest steelmaker; and the restructuring of a foreign bank.

Recent Deal Data highlights

•                      CapitaLand Treasury S$300 million loan facility

•                      CapitaLand Retail China Trust Management S$130 million 3.25% bond issue

•                      Grab $1.46 billion Series H financing round

•                      Hyperion Refinance $115 million loan facility

•                      Kakao Corp $1 billion SGX listing

•                      Logan Property Holdings S$200 million 6.125% bond issue

•                      Shanghai Pudong Science and Technology Investment S$128 million acquisition of Semiconductor Technologies and Instruments

•                      Yanlord Land $350 million 6.75% bond issue

 

Client feedback

“The partners and their team are very responsive and provide clear advice to the bank as well as alternative solutions.” – Banking

“Patient and diligent; willing to go the extra mile.” – Banking

“Knowledgeable and experienced in the sector with continuous interaction and involvement of senior partners.” - M&A

“Professional and provides timely advice with excellent support.” – M&A

“Shook Lin & Bok has the necessary capabilities for complicated matters at an equivalent if not better level than the larger law firms in Singapore and at a lower cost.” - Restructuring and insolvency

David Chong
“Very forthcoming, competent and thorough in looking at innovative ways.”  

Kai Zee Liew

“Kai Zee is very helpful and always provided us with very good advice. Despite his senior position, he still attended to the staff personally whenever we approached him. He is very knowledgeable in the legal field and conducts periodic training and seminars.”

Debby Lim

“Debby is a very responsive and commercial lawyer who is able to advise insolvency practitioners on the most cost-effective route to be taken to resolve complicated dispute matters.”

Stanley Lim

“Dedicated.”

Zhi Ming Tan

“Zhi Ming is very hardworking and always reachable. He is reliable and always stretching out for the client. He is also patient and able to explain clearly any legal issues encountered to our clients and their legal advisers.”

 

TSMP Law Corporation

TSMP Law Corporation is recognised for its work in M&A and restructuring and insolvency.

In the banking area the firm specialises in acquisition and project financing in the real estate sector and has experience in advising both lenders and borrowers. A notable cross border mandate saw the firm acting as the lead counsel to an international bank in extending a facility to a hospitality firm.

An interesting recent capital markets highlight saw the firm acting as the Singapore listing agent in the first state government-backed bond issuance in India. Another highlight saw the firm advising a Malaysian car manufacturer and dealership operator on its cross-border IPO and listing on the catalist board of the SGX.

On the M&A front the firm is known for top quality work in public company takeovers and has recently been focused on media, real estate, and technology and telecommunication. An eye-catching mandate saw the firm acting for the financial adviser to Viva Industrial Trust on Singapore’s first-ever trust scheme, which resulted in the merger of two REITs.

The restructuring team has a wealth of experience in acting for creditors, debtors and insolvency professionals. The firm notably acted for a creditor on the high-value restructuring of Hyflux.

The firm strengthened its banking and corporate practices by bringing in June Ho as a partner from Wikborg Rein.

Recent Deal Data highlights

•                      ESR-REIT / Viva Industrial Trust merger

•                      HPL Resorts $225 million financing

•                      Kerala Infrastructure Investment Fund Board Rs21.5 billion 9.7% masala bonds issue

•                      MeGroup SGX IPO

•                      mm2 Asia $300 million MTN programme

•                      OUE Commercial REIT S$6.8 billion merger with OUE Hospitality Trust

•                      Oxley Holdings $225 million financing

•                      Oxley Beryl S$483 million term loan facility

Client feedback

“Very responsive and knowledgeable.” - Banking

“Excellent work standard. Sufficient resources dedicated to the transactions to meet deadlines.” – M&A

“The team was very responsive. The leadership provided by the partners was exemplary.” – M&A

“Good program management and good work output.” – M&A

“It starts with them knowing or paying careful attention to know us, our business and the transaction well. Taking the care and trouble in doing so. Listening carefully, asking questions and the occasional probing. From there, with careful deliberation, they provided sound legal advice. As a discerning consumer, we are attuned to sound advice. There's sound advice that's not immediately useable. And there's sound advice that we know is practical (no need to unbox) and can be used straightaway - TSMP are good practitioners of this school. Also like their own seamless interface between Senior Associate and Partners - clients like this because things move quickly and it is cost effective. Kudos to them too as they are letting their young talent run and develop with actual hard-nosed work.” - M&A

“TSMP went over and above to ensure we signed the transaction in the short time frame demanded by the vendor. The team always had a positive attitude no matter the hour.”

"Good, thoughtful advice. Holistic, including reputational and regulatory considerations.” – Restructuring and insolvency

Jennifer Chia

“Excellent quality.”

“Great work with good strategic and is responsive and attentive. Understands issues involved in M&A and is responsive in solving them.”

“Jennifer understood our needs, was commercial without compromising on the legal protection that we needed to ensure we got over the line. She was calm throughout the fast paced complex transaction.”

Shen Yi Thio

“A very holistic thinker with a good company, which really helps on long engagements.”

“Great work with good strategic and is responsive and attentive. Understands issues involved in M&A and is responsive in solving them.”

Stefanie Yuen Thio

“Engages the client proactively and is reasonably priced.”

Chee Chin Wi

“Engages the client proactively and is reasonably priced.”

 

 

 

 

WongPartnership

 Ranked in tier 1 across all practice areas, WongPartnership is one of the foremost law firms in Singapore.

The firm’s banking team acts for domestic and international banks, financial institutions and corporations on a mix of both bank lending and corporate borrowing mandates. In a notable recent mandate the firm acted for the borrowers on the refinancing of the development of a landmark real estate project. In another interesting mandate the firm advised the lenders on a first of its kind green loan.

In capital markets work the firm maintained its reputation for cutting edge work by acting on mandates such as the SGX IPO of Sasseur REIT- the first outlet mall REIT to be listed in Asia. On the debt capital markets side a noteworthy mandate saw the firm acting for the issuer on the first retail perpetual convertible capital securities offering in Singapore since 2013 and the first retail offering of debt securities in Singapore since 2016.

In the M&A space an eye-catching mandate saw the firm advising on the first time a merger of two real estate investment trusts in Singapore.

On the projects front the firm’s key sectors of focus include construction, infrastructure, oil and gas, power (conventional and renewable), utilities, social infrastructure and transport. A recent highlight saw the firm advising the developer on the construction of an iconic mixed development.

In a significant mandate in the restructuring area the firm acted for Hyflux on its high profile restructuring. Another highlight saw the firm assisting one of Singapore’s leading ground engineering solutions providers with its restructuring.

A significant staffing change saw the departure of Rachel Eng for Eng and Co.

Recent Deal Data highlights

·         CapitaLand S$11 billion acquisition of Ascendas-Singbridge

·         Commons Residential S$925 million financing

·         ESR-REIT merger with Viva Industrial Trust

·         Frasers Property Aquamarine Trustee S$1.2 billion green loan

·         Hyflux Group S$1.5 billion debt restructuring

·         Sasseur REIT SGX IPO

·         Stockland Trust Management €300 million 1.625% notes issue

·         Wallich Residence and TPC Hotel S$1.54 billion loan facility

 

Client feedback

‘Responsive and commercial-minded.” – Banking

“Clearly experienced; displayed deep technical knowledge. Alvin Chia, in particular, is always helpful and very knowledgeable.” – Banking

“Extremely satisfied with professional advice.” - Capital markets

“Good advice and very detailed.” – M&A

“WP offers holistic advice, which is a result of working seamlessly across functions. The counsels listen to clients' requirements and are able to offer good practical solutions to achieve outcomes.” - M&A

“Quick to respond to questions, good documentation, good and prompt liaising with the counterparty.” - M&A

“Rigorous adherence to rendering correct advice, in a dynamic and often ambiguous situation that continuously evolved over 12 months. The firm consistently advised the bidder to avoid conduct that would breach regulations, even though the bidder was tempted to walk into regulatory grey areas.” – M&A

“The WP team has always accommodated requests to turnaround documents with high levels of efficiency while meeting the tight datelines. Their services and work provided have always been professional and commercial, which is very important in my business. They are able to break down the legal jargon to simple layman terms such that the rest of the deal team can comprehend. They have been transparent with their work hours and fees. Strengths - legal knowledge, ability to identify risks and mitigants, considering commercial terms and challenges, meeting datelines, high level of efficiency and professionalism.” – M&A

“Very prompt service, meticulous review, and detailed.” - Project development

“The firm is highly regarded for its project development expertise. Ms Lesley Tan, in particular, stands out for her clear, prompt and strategic advice to the business. In this, she is able to leverage her close understanding of our business objectives and practices to provide highly commercial and practical advice.” - Project development

“One of Singapore's top law firm in this space. Deep technical capabilities in restructuring and insolvency. Responsive, practical, commercial and reliable.” - Restructuring and insolvency

“Very knowledgeable, responsive and reverts with options.” - Restructuring and insolvency

“WP is always a safe bet, in terms of ease of access to lawyers, response time to client requests and knowledge of the law.” - Restructuring and insolvency

“Generally, very well versed in local restructuring laws and practices. Provides sound legal advice and good guidance on dealing with various creditor groups. Good performances at court hearings.” - Restructuring and insolvency

 

Andrew Ang

“Andrew Ang is a principled lawyer who is unafraid to render tough yet correct advice. He is much appreciated for his strong commercial nous. Warm, approachable manner, and well-liked by clients.”

Sing Yee Chan

“Chan Sing Yee, who headed the M&A team for this project, offered sound practical advice, was available at all times (and all hours) for the cross border transaction and co-ordinated well in providing holistic advice with inputs from WP's other teams and also UK specific advice from the UK counsels.”

“Ms Chan is a lawyer that grew with the group. From a legal assistant to a partner in the WP Team. She is able to relate to the client and make a complex matter much easier for the client.“

Weiling Chen

“Good follow up action.”

Alvin Chia

“Alvin is very experienced and knowledgeable. He is approachable and is a very technically sound lawyer.”

Joel Chng

“Jason's and Joel's expertise are on handling regulatory issues and dealing with authorities, sales and purchase agreements, term sheets, and handling creditor groups.”

“Good lawyer; provides innovative solutions and is client-focused.”

“Very approachable and an effective communicator. Displays tactical acumen - ability to think and advise over and above just the legal issues. Ability to not only look at the strategic picture but also is comfortable across the day to day details.”  

Mark Choy

“Very responsive, provides good and commercial recommendations, and does good quality work.”

Jason Chua

“Jason's and Joel's expertise are on handling regulatory issues and dealing with authorities, sales and purchase agreements, term sheets, and handling creditor groups.”

Lawrence Foo

“He is very approachable, attentive and very detailed in his work. He reverts in a timely manner and prepares to consider other proposals.”

Joseph He

“Liang Weitan and Joseph He have been our key points of contact with WP, and they are in the M&A space. Both individuals displayed an exemplary level of professionalism and provided advice by combining legal and commercial perspectives, which I find rare in other lawyers that I have worked with in the past. They were able to identify and bring to our attention legal and economic risks/mitigants during the due diligence phase and negotiation stage. They would never hesitate to meet us physically to take us through all the issues and changes in the documents.”    

Dawn Law

“Dawn is very responsive and is able to provide solutions. She also provides good referrals to other experts within the firm when necessary.“

Weitan Liang

“Liang Weitan and Joseph He have been our key points of contact with WP, and they are in the M&A space. Both individuals displayed an exemplary level of professionalism and provided advice by combining legal and commercial perspectives, which I find rare in other lawyers that I have worked with in the past. They were able to identify and bring to our attention legal and economic risks/mitigants during the due diligence phase and negotiation stage. They would never hesitate to meet us physically to take us through all the issues and changes in the documents.”    

Christy Lim

“She has proven to be a tough yet practical negotiator for her client and never failing to exceed our expectations.“

“Very competent and qualified partner.”

Kah Keong Low

“He is practical, knowledgeable and readily available.”

Smitha Menon

“Smitha's expertise are on overseeing legal agreements and documentation, affidavits and court work.”

“Strong legal skills, commercial, and good interpersonal skills.”

Sin Wei Ong

“Detailed and attentive.”

Gail Ong

“Gail is a very experienced lawyer whose professional advice and excellent client service I will always be happy to rely on.”

Fi Ling Quak

“Smart and a strong negotiator.”

“Highly appreciated for her comprehensive advice which addresses risks that can be overlooked by others. She is a highly capable lawyer who has gained the trust and a following of an increasing retinue of clients. She is unflappable despite handling several high-pressure transactions concurrently. She is well-liked due to her warm and approachable personality.”

Jennifer Sadeli

“Excellent.”

Manoj Sandrasegara

“Manoj's expertise are the overall leadership on the restructuring effort, negotiations with investors and creditor groups, restructuring strategy and designing new corporate structures.”

“Team leader, excellent legal knowledge and very commercial.”

Daniel Tan

“Sound legal knowledge, approachable and commercial.”

“Daniel Tan is an excellent lawyer with a solid understanding of the law and its nuances. Daniel goes above and beyond what is expected of him to ensure that a project is completed well and in a timely manner. Having Daniel in my corner for a file is reassuring.”

Lesley Tan

“Good follow up action.”

“Lesley Tan stands out for her clear, prompt and strategic advice to the business. In this, she is able to leverage her close understanding of our business objectives and practices to provide highly commercial and practical advice.”

“Confident in her advice as she is thorough and practical. My go-to person for construction-related advice.“

Susan Wong

“Susan is a banking and finance guru in Singapore. She is very strong in her legal knowhow, and it is always advisable to have her acting for you rather than on the opposite side.”

“Very knowledgeable and competent.”

Karen Yeoh

“Excellent professionalism.”

 

 

Ashurst

Ashurst in Singapore is known for its banking and projects work. 

The strength of the firm’s banking team can be gauged by its appointments to the global panels of Credit Suisse and BNP. During the research period the firm acted on the side of arrangers, lenders, financiers, and borrowers on matters including acquisition financing and refinancing. In terms of project financing the firm notably advised the lender on the financing of the Jakarta-Bandung High-Speed Rail Project - the largest infrastructure project in Indonesian history.  

Recent highlights in the M&A space include advising the acquirer on the acquisition of a majority stake in the world’s largest gold mine and second-largest copper mine – the largest M&A transaction in Indonesia in the last 10 years and the largest-ever acquisition by an Indonesian SOE. Another highlight saw the firm act for acquirer on Malaysia's largest oil and gas M&A deal of 2018

In projects the firm is particularly strong in advising on the financing and development of power projects. An eye-catching mandate saw the firm acting on the financing and development of Vietnam's first integrated LNG to power project. 

On the restructuring front the firm advises lenders, debtors, potential purchasers and insolvency officeholders across a variety of sectors.

The firm fortified its corporate practice with the hires of new partners Waltter Kulvik from Sidley Austin and Michelle Phang from Shook Lin & Bok. Additionally, Alfred Ng joined the projects team as a partner from Sherman & Sterling, while banking partner Kate Allchurch retired form practice.

Recent Deal Data highlights

•                      BGC European Holdings acquisition of Ginga Petroleum

•                      Government of the Republic of Indonesia $3.85 billion acquisition of Freeport Grasberg

•                      Jakarta-Bandung High Speed Railway

•                      Kalbar 1 IPP Project

•                      Keppel Infrastructure Trust A$1.1 billion acquisition of Ixom HoldCo

•                      OMV Aktiengesellshaft $500 million acquisition of a 50% stake in Sapura Energy assets

•                      Sentek Marine & Trading $400 million financing

•                      Thi Vai LNG Receiving Terminal and Nhon Trach 3 & 4 power plant

Client feedback

“The counsels are very responsive and provide succinct and relevant answers which we can then communicate directly to our business stakeholders.” – Capital markets: Derivatives

“Have a few good senior lawyers who can provide magic circle quality work but at a lower cost.” - Capital markets: Derivatives

“They performed strongly. The preferred equity investment was one of the first being done out of Asia, but the Ashurst team quickly narrowed in on the key issues and helped us to think about the issues that really mattered. They were also strong in their negotiation with the other side.” - Investment funds

“High quality, rapid follow up, and ok price/quality balance.” - Private equity

“The firm has the right industry and local law experience. They are also pro-active when it comes to providing legal advice. Simon Brown is very experienced and exceptional in his advice.” - M&A

“Very competent, internationally recognized, very conscious and adaptable to work with Asian clients, responsive, and helpful. No obvious weaknesses.” - Project development         

“I feel satisfied working with the Ashurst team; they are very professional and meticulous. They have plenty of experience for project financing and working with Chinese banks, so they always could provide ideas to solve problems. They are the first choice I want to work with among all law firms.” – Project finance              

“The interaction was limited to Michelle Phang. She came highly recommended and met expectations.” - M&A

“We appreciated the detailed advice and thinking ahead.” - Restructuring and insolvency

 

Asia Practice

Asia Practice has strong banking and project development offerings.

During the research period the banking team acted for clients including lenders, arrangers, and borrowers on matters such as acquisition financing, debt restructuring, syndicated financing, refinancing, trade financing and project financing.

In addition to advising on regulatory compliance matters, the corporate team was mainly active for acquirers in a range of sectors including technology, real estate, agriculture, social infrastructure, and manufacturing.

Client feedback

“Very prompt service with sound legal advice that takes into account commercial requirements.”  – Banking

Bird & Bird ATMD

Bird & Bird ATMD in Singapore is active in the financial and corporate space. Access to Bird & Bird’s pan Asian network provides the firm with an edge in handling cross border transactions.

Recent capital markets highlights include advising on IPOs and listings on domestic and foreign exchanges. An interesting deal saw the firm advising a Singapore fund on its note subscription agreement.

The corporate team has experience in advising clients on inbound and outbound investments in an array of sectors including technology and telecommunication, energy, aviation, automotive, healthcare, banking and financial services, media, and retail. The client portfolio features multinationals, financial institutions, public and private companies, private equity firms and government-linked entities. During the research period the firm was active for buyers, sellers and joint venture partners. A newsworthy mandate saw the firm advising a real estate company in an industry-first collaboration.

In the projects space, the firm boasts a specialist practice for energy management and energy efficiency projects. During the research period the firm was often engaged by regulators; a representative mandate saw the firm assisting a regulator with testing the feasibility of deploying energy storage technologies. Another interesting deal saw Bird & Bird acting for a biosystems firm on the development of wastewater and water treatment projects in Indonesia.

Recent Deal Data highlights

•                      BayWa Wind divestment of wind farms

•                      Bureau Veritas Singapore / AsureQuality Asia Pacific joint venture

•                      Daehan Steel S$26.65 million acquisition of a 50% stake in Angkasa Amsteel

•                      SBI Offshore $36 million acquisition of Berlitz group of companies

•                      Sim Leisure Group SGX IPO

•                      Snack Empire Holdings HKEX listing

•                      Wonderscape Holdings HKEX listing           

•                      ZICO Holdings / Fragomen Global Immigration Services joint venture

Client feedback

“Bird & Bird have true sector expertise in the renewable and sustainability space. As such - they have a deep understanding of business and market dynamics that helps them in supporting us in many aspects of our business. Being a growing business - they have also been able to deliver their service at the correct price point, allowing us to have access to quality legal advice at an affordable rate.”- Capital markets

“Prompt responses and detailed explanations on client concerns.” – M&A

“The allocation of time is more than adequate and they provide timely response to urgent requests.” – Private equity

“Excellent service: timely, professional, and responsive.” - Restructuring and insolvency

BlackOak

BlackOak, founded in 2016, is a well-known boutique focusing on restructuring and insolvency.                                                                                                                                                  

The firm represents a gamut of stakeholders, including insolvency professionals, debtors, creditors, funds, and white knights.                                                                                                 

Recent highlights include advising a committee of noteholders and a potential rescuer in the highly publicized debt restructuring of Hyflux; assisting a Norwegian company with its restructuring; the creditors in the restructuring of CW Group of companies; and the committee of bondholders on the restructuring of notes issued by a Singaporean company.

Recent Deal Data highlights

•                      BLD Investments bond restructuring

•                      Blue Ocean Resources bond restructuring

•                      CW Group restructuring

•                      Hyflux Group debt restructuring

•                      I M Skaugen restructuring

•                      Intra Asia Trading restructuring

•                      Lehman Brothers Group liquidation

•                      Ryobi Tactics liquidation

Client feedback

“Very good and will use again.” – Restructuring and insolvency

“Practical solutions on complicated matters. A top player in the market that knows the latest legislation and how it be applied commercially, causing clients to take advantage of complex situations.” - Restructuring and insolvency        

“Excellent boutique restructuring and insolvency firm. The market leader for restructuring and insolvency in Singapore.” - Restructuring and insolvency

“BlackOak is an exceptional firm in the field of restructuring and insolvency. Both the work product and turn around times are excellent, and the team has a very practical and commercial mindset.” - Restructuring and insolvency

 

Clifford Chance

The Singapore office Clifford Chance serves as a base for operations across the region and ranks among the market leaders in banking, M&A, restructuring and project finance.

In banking and finance the firm boasts one of the largest cross-border finance practices based in Singapore. Its diverse client base includes commercial and investment banks, funds and public and private corporations and international bodies. Noteworthy recent mandates saw the firm advising the sponsors on the financing of Taiwan's first commercial-scale offshore wind farm and acting for a lender on the financing of the largest solar power project in Vietnam to date. The firm also has extensive expertise in financial services regulatory and advises on regulatory issues affecting all parts of the financial sector.

A highlight in capital markets saw the firm acting for the issuer on the IPO of India’s first REIT.

The firm houses the largest dedicated M&A team amongst the international law firms in Singapore and focuses on corporate and M&A matters across South East Asia. The team has experience in acting for corporates, banks, private equity houses, sovereign wealth funds and real estate and infrastructure funds. During the research period the team took on a mix of buy and sell-side work, including on private equity mandates, across the region. The firm advised the acquirer in the management buyout of Standard Chartered Bank's private equity unit.

The restructuring team focuses on sectors such as oil and gas, telecommunications, construction and transport, maritime and shipping. The team has expertise in representing stakeholders such as creditors, lenders, coordinating committees, private equity sponsors, insolvency practitioners and debtors. Recently, the firm acted for a creditor in the high profile restructuring of Noble Group.

New hires saw Ross Howard joined the banking team from Clifford Chance Tokyo. Andrew Brereton left for King & Spalding and Andrew Gambarini retired from practice.

Recent Deal Data highlights

•                      Aboitiz Equity Ventures $550 million acquisition of a majority stake in Gold Coin

•                      Embassy Office Parks REIT NSE IPO

•                      Evolution Wellness acquisition of Fivelements

•                      Nam Theun 1 hydroelectric power plant

•                      Nghi Son 2 coal-fired power plant

•                      Noble Group restructuring

•                      Payra coal-fired power plant

•                      PSA / Ocean Network Express joint venture

Client feedback

“Deep institutional knowledge and highly experienced partners.” – Banking

“Clifford Chance has been very professional and covered almost the full range of services in the financial industry, responded swiftly and always remained available for clients.” - Banking

“Dedicated; provides well-considered responses to issues.” – Banking

“Clifford Chance Singapore asset finance lawyers are just second to none in Asia-Pacific, in terms of quality of work, speed of work, efficiency and reliability.” - Banking

“Gareth Deiner (and his team) remains, in my view, the top Capital markets lawyer based in Singapore. Gareth is experienced, aware of evolving market demands, proactively highlights potential concerns, able to propose commercially acceptable alternatives towards resolution, has an attention to detail over documentation and is very professional and pleasant to work with.” – Capital markets

“CC has a leading capital markets practice with the team in Singapore one of the best in the region, representing the banks on Reg S and 144A deals, the team are particularly active and can handle matters cross-border, ranging from senior secured debt issuances to high yield. I consider the CC capital markets team one of our go-to firms in Singapore for their ability to be commercial in addition to their technical expertise and highly responsive. Definitely one of the best capital markets teams in Asia.” – Capital markets       

“Excellent work with great technical strength a well as commercial context and application.” - Financial services regulatory

“Very good geographic reach, excellent industry understanding, and excellent technical legal skills.” - Financial services regulatory

“We are very impressed with the capital markets team at Clifford chance. Their responsiveness and high-quality work product and attention to detail and ability to provide commercial solutions and advice on complex transactions is valued.” – Capital markets         

“The lawyers were responsive, knowledgeable and prompt.” – M&A

“Everyone we have worked with at CC has been extremely responsive; Turnaround time has been stellar, and the practicality which usually underpins their advice is very much appreciated.” – M&A

“Our go-to person in Clifford Chance is Valerie, who is highly knowledgeable, knows our business and offers us the most appropriate advice. We found the lawyers, from the M&A, Real Estate, Construction and Anti-trust teams, supporting us to be well experienced, responsive and knowledgeable. We were able to complete the JV within a tight timeline because of Clifford Chance's support." - M&A

“Helpful in identifying potential key issues upfront and coming up with creative solutions.” – Private equity

“First and foremost extremely commercial approach towards deal negotiations and execution. Supported by a strong knowledge base and experience in many facets of this type of transactions. Deep bench at partner level brings global support to well versed local teams.” - Private equity

“Clifford Chance was very timely in responding to our queries, had a good grasp of our requirements, understood what we were looking to achieve and provided sound advice on the way forward.” – Project finance

“Responsive, commercial and technically sound.” - Restructuring and insolvency

CNPLaw

CNPLaw (CNP), previously known as Colin Ng & Partners, has a diverse financial and corporate practice, with strength in capital markets and project development. The firm is a member of Interlaw, a network of corporate and commercial independent law firms.

The banking team advises banks, financial institutions, investment funds as well as corporate borrowers across the full range of domestic and cross border banking and finance transactions. In an interesting recent project financing deal, CNP acted for the borrowers.

In the past year, the capital markets team was busy with acting for issuers on the listing of notes on the SGX and advising firms on their listings on domestic and foreign exchanges.

The corporate and M&A team advises on matters across the ASEAN region and has experience in advising Chinese clients. Sectors of focus include manufacturing, financial services, healthcare, logistics, retail, and technology. During the research period the firm took on a mix of roles for purchasers, sellers and joint venture partners.

In restructuring and insolvency, the firm was recently active for stakeholders such as contributories and creditors.

The firm saw the departure of corporate partner Christopher Huang for CHP Law.

Recent Deal Data highlights

•                      Bewg-Uesh Newater Plant

•                      Eggriculture Foods HKEX listing

•                      Kalms Singapore / Justin Quek’s JQ Global joint venture

•                      Qixiang Tengda Supply Chain Hong Kong acquisition of Granite Capital

•                      Sunday Ins Holdings $10 million Series A funding round

•                      Synagie Corporation SGX IPO

•                      The Work Project Kingdom acquisition of Collective Works’ co-working business

•                      Verita Healthcare Group acquisition of CelliHealth

Client feedback

“Very happy with them.” - Financial services regulatory

"Very good, responsive and knowledgeable.” – M&A

“They handled our case very professionally, with prompt replies to questions that we raised. Very helpful and friendly to work with, and they have different specialists in different areas of business that can provide valuable advice on. Excellent service overall. – M&A

DWF

DWF in Singapore is recognised for its M&A work.

Core sectors of focus include insurance, financial services, real estate, technology and telecommunication. Recent clients advised include acquirers, merger partners and joint venture partners. A highlight from the last year saw the firm advising the Christopher Guy Group on its global corporate re-organisation.

The firm boosted its practice with the hire of new partners: Jonathan Goacher from Kennedys, Babita Ambekar from Duane Morris, and Ben Constance from Taylor Wessing.

Recent Deal Data highlights

•                      Christopher Guy Group corporate re-organisation

Equity Law

Established in 1994, Equity Law is a boutique focusing on capital markets and corporate and M&A. The firm has extensive experience in primary and secondary fundraising exercises by local and foreign entities.

Recent highlights include advising the sponsors and underwriters on an HKEX listing; advising Catalist listed firm on a private placement of shares and acting for both acquirers and sellers in acquisitions.

Recent Deal Data highlights

•                      Atlantic Navigation Holdings $26 million private placement of shares

•                      Eggriculture Foods HKEX listing

•                      EuroSports Global S$1.4 million disposal of Autoinc Eurosports and Exquisite Marques Holding

•                      MTQ Corporation $1 million acquisition of Mid-Continent Equipment Group’s oilfield equipment supplying business

 

Eversheds Harry Elias

Eversheds Harry Elias is active in the financial and corporate space and has a strong restructuring and insolvency practice.

The corporate team has experience in sectors such as healthcare and pharmaceuticals, fintech, mining, infrastructure, technology and logistics. During the research period the firm took on a mix of roles for corporate and private equity clients. A notable recent highlight saw the firm advising Sequoia Capital in a Series B investment in a growth management platform. A newsworthy sell-side mandate saw the frim acting for Rolls-Royce in the sale of its global commercial marine business.

The restructuring team’s clients include companies, shareholders, liquidators, judicial managers, receivers and managers and creditors.

Recent Deal Data highlights

•                      Advanced Holdings S$15 million acquisition of a 12.25% stake in Agricore Global

•                      DLF Holdings SGX listing

•                      Hyflux Group debt restructuring

•                      Insider Series B funding round

•                      Kyen Resources debt restructuring

•                      Madison India Opportunities IV $35 million investment in Snowdrop Capital

•                      Pine Labs Series E and Series F funding rounds

•                      Rich Capital Holdings S$43.98 million acquisition of Rich-Link Construction and Rich-Link Construction

Client feedback

“High quality, detail-oriented, capable of meeting (unreasonable) turnaround times.” – Private equity

"Good work, great turnaround time, accurate and succinct in their advisory.” - Restructuring and insolvency

FSLAW

FSLAW is a boutique law firm active in the financial and corporate space. The firm focuses on providing corporate & commercial law solutions for clients in the Asia Pacific region. The firm holds membership of the Dentons NextLaw Network.

During the research period the firm was particularly active in the private equity space, acting for both investors and investees. Highlights include advising the sellers in a drag along sale of shares in a Singaporean company; assisting an investee with its seed investment round; and assisting the sellers in the sale of a mine.

The firm was active in sectors including insurance, technology, biotech, mining and natural resources.

Client feedback

“Very good and supportive.” - Investment funds

"Excellent work. Commercially minded lawyers led by Faith.” – Private equity

“FSLAW provided a very high level of service, knowledgeable as to what was required, provided pragmatic support in negotiations.” - Private equity

Gibson Dunn & Crutcher

Gibson Dunn & Crutcher is well known in project development and also has strong M&A, project finance, and restructuring practices.

The banking team advises both borrowers and lenders on cross-border deals across Asia, and in particular, in Singapore, Indonesia, Malaysia, India and other emerging markets in the region, such as Laos. A recent highlight saw the firm advising the borrowers and sponsors in an award-winning financing mandate.

A high-value M&A deal saw the firm advising a US oil and gas company on the divestment of its Malaysian subsidiaries.

In the projects space, a highlight saw the firm advising the sponsors of the Mozambique LNG project. The firm was recently active in sectors including. Another noteworthy deal saw the firm advising a natural resources firm on the development of a smelter and refinery.

In restructuring, the firm’s experience includes both debtor-led and creditor-led restructuring and workouts, refinancings, Insolvency proceedings and distressed investing and is known for its work in the energy and infrastructure sectors. During the research period the firm notably acted for SM Investments in a proposed investment in and restructuring of Hyflux.

Recent Deal Data highlights

•                      Amman Mineral Nusa Tenggara smelter plant

•                      Hyflux Group debt restructuring

•                      Indika Energy $1.4 billion financing

•                      Indonesia Chemical Alumina debt restructuring

•                      MAXpower Group restructuring

•                      Medco Energi Internasional $500 million reserve-based lending facility

•                      Mozambique LNG

•                      Tera Logistic Indonesia loan facility

Hogan Lovells Lee & Lee

Hogan Lovells Lee & Lee in Singapore is recognised for its banking and project finance work. The firm is particularly strong in the aviation industry and acts for banks, financial institutions, domestic and international airlines, aircraft leasing and finance companies, aviation service and maintenance companies, and aircraft manufacturers.

The banking team has experience in advising clients on matters related to pre-delivery payment financings, export credit supported financings, and securitisations. During the research period the firm acted for lenders, leasing companies and banks on a number of confidential aviation-related transactions.

In capital markets area the firm is well known for representing issuers and arranging banks on establishing and operating EMTN programmes. The firm recently advised arrangers, issuers, and managers on bond issues and on updating EMTN programmes.

Recent Deal Data highlights

•                      Agile Group Holdings $500 million 6.7% senior notes issue

•                      Ausgrid Finance $3 billion EMTN programme

•                      Brisbane Airport Corporation €1.5 billion EMTN programme

•                      Ezra Holdings S$150 million debt restructuring

•                      Incitec Pivot $1.5 billion EMTN programme

•                      RHB Bank $5 billion EMTN programme

•                      Transurban Queensland Finance $500 million fixed rate note issue

•                      Transurban Queensland Finance CHF200 million fixed rate note issue

Client feedback

“Excellent.” – Banking

“The firm is precise and always patient and professional. Always catches up with timelines and continue their support even after the transaction closes. Can't think of any weaknesses.” - Banking

“Very strong performer, quick communication, accurate advice and great application of legal advice to the commercial context.” - Capital markets

“Excellent service and advice from both a legal and commercial point of view. The team works well under strict time constraints and delivers a high-quality product.” - Capital markets

 

K&L Gates Straits Law

The product of K&L Gates Singapore’s merger with Straits Law Practice, K&L Gates Straits Law boasts a diverse practice across the financial and corporate space. The firm has the distinction of being one of the few international firms able to offer full-service legal capabilities on the ground in Singapore.

The integrated banking team is strong in asset finance and also has experience in providing banking and transactional services to a variety of Indian parties in the Singapore and Indian markets. During the research period the team often acted for clients such as lessors and lenders.

In capital markets, the firm was busy with advising clients on their ICOs and pre-IPO fundraisings.

On the M&A front, the firm was primarily active for acquirers across an array of sectors.

The projects team has experience in advising stakeholders including port operators, power producers, project developers, SOEs, and contractors. In the past year, the firm was active on several high-value deals. The firm counts the MRT Corporation as a repeat client; a notable deal saw the firm advising the MRT Corporation on the development of Line 3.

The restructuring team recently took on roles for clients such as investors, liquidators, creditors and white knights. A restructuring highlight saw the firm advising a group of Singaporean investors in the insolvency of the Macro Group of companies.

Recent Deal Data highlights

•                      Bamboo Airways Company aircraft leasing

•                      Idemitsu Kosan investment in Nghi Son Refinery

•                      Jeju Air $5.9 billion purchase of aircrafts

•                      Klang Valley Mass Rapid Transit Line 2

•                      Klang Valley Mass Rapid Transit Line 3

•                      Macro Group of companies insolvency

•                      Sembawang Engineers & Constructors insolvency

•                      Vietjet Aviation Joint Stock Company $6.5 billion purchase of aircrafts

Client feedback

"Nick Williams is incredibly sharp and has substantial experience/knowledge in both the areas of insolvency/restructuring and fraud/investigations. He always takes a pragmatic/commercial approach to dealing with complex matters. He is extremely responsive and available to provide urgent advice at all hours. I have not witnessed any weaknesses and would gladly work with Nick on any matter going forward and strongly recommend him to anyone needing assistance in his areas of expertise.”– Restructuring and insolvency

King & Wood Mallesons

Corporate and M&A is at the core of King & Wood Mallesons’ practice in Singapore.

During the research period the firm often advised both acquirers and seller, and was also active in the funds space; notably advising the fund sponsor on the establishment of the Macquarie Asia Infrastructure Fund 2.  The firm takes on mandates throughout Asia and has expertise in sectors including real estate, hospitality, infrastructure, financial services, energy, natural resources, telecommunications, and healthcare.

The firm welcomed David Phua as a special counsel from Freshfields Bruckhaus Deringer Singapore to its projects practice.

Recent Deal Data highlights

•                      Brookfield Infrastructure A$1.1 billion acquisition of AT&T’s global data centre colocation operations

•                      Macquarie Asia Infrastructure Fund 2

Client feedback

“Worked well as the point legal firm managing the local legal firm and helping navigate the local issues.” – M&A

Latham & Watkins

Latham & Watkins is ranked among the market leaders in banking, capital markets, M&A and projects.

The banking team has experience in representing banks, financial advisors, private equity firms, hedge funds, borrowers, sponsors, syndicates and government institutions.

During the research period the firm acted for a mix of lenders and corporate clients on an array of matters including cross-border syndicated loans, leveraged and acquisition finance. Key sectors of focus included telecommunication, mining, manufacturing, oil and gas, and banking.

The firm was active on a number of landmark mandates recently, such as advising the sponsor on the first infrastructure project finance securitisation in Asia and acting for the acquirer on the financing of the one of the largest ever-public acquisitions in Indonesia.

The firm increased its banking strength with the hire of Farhana Sharmeen as a partner from Withers Khattarwong.

Recent Deal Data highlights

·         Bayfront Infrastructure Capital infrastructure project finance securitisation

·         Barito Pacific $200 million loan facility

·         Chandra Asri Petrochemical $191 million export credit facility

·         Energi Mega Persada debt refinancing

·         Golden Energy and Resources AU$150 million financing

·         MyRepublic Group $60 million structured credit facility

·         Rantau Dedap Geothermal Power Project

·         Semen Indonesia $1.31 billion acquisition financing

Morgan Lewis Stamford

Morgan Lewis Stamford in Singapore excels in capital markets and has strong offerings in banking, M&A, projects and restructuring.

The banking team represents lenders, underwriters, borrowers, agents and other stakeholders on a diverse range of domestic and cross-border transactions. During the research period the team often acted for borrowers in matters such as refinancing, acquisition financing and real estate financing.

Due to its prized capital markets practice, the firm was notably one of the first law firms to be approved to provide services as a Catalist Continuing Sponsor. The firm also boasts a particular strength in offerings that have a US element. In debt capital markets, the firm was recently active on several issues of notes and bonds, often advising guarantors and issuers. On the equity side, the firm notably advised the issuer on the first non-REIT IPO on the Mainboard of the Singapore Exchange Securities Trading in 2018.

In M&A, recently advised clients such as joint venture partners, acquirers, and sellers in a range of sectors. In an interesting highlight, the firm advised Uber in the sale Lion City Rentals.

The firm’s extensive restructuring client list includes bondholders and noteholders, investors, financial advisors, scheme administrators, liquidators, insolvency practitioners, and financially distressed corporations. A noteworthy mandate saw the firm advising an investment holding in its high-value debt restructuring and refinancing. The firm was also active on the high profile restructuring of the Noble Group, acting for shareholders.

Notable staffing changes saw the firm reinforce its team with the hires of new partners Guan Feng Chen from White & Case and Vanessa Ng from Fortis Law Corporation.

Recent Deal Data highlights

•                      Easy Tactic $700 million 8.75% bond issue

•                      Ezion Holdings debt restructuring

•                      Marco Polo Marine debt restructuring

•                      Noble Group restructuring

•                      PropNex SGX IPO

•                      Trans Corpora $275 million financing

•                      Uber Technologies S$418.6 million disposal of Lion City Rentals

•                      Wings Travel Management acquisition of Olympia Travel & Tours

Client feedback

“The partners in charge of our debt restructuring and fundraising exercises were extremely knowledgeable. They provided advice that was both practical and commercial and contributed significantly to the successful closing of the exercises.” – Capital markets, Restructuring and insolvency

“Conscientiousness, perceptive observation of facts, and a pragmatic approach.” – Capital markets

“MLS basically came through as a solution provider. There were other obvious options to go about the issue on hand, but their solution was both effective and cost-saving for us.” - Financial services regulatory

“Their characteristics are an incredible turn-around speed, professionalism, accuracy of documents, quality of output, negotiation skills, practical, flexible, cost-conscious, patient, available, hard-working.” – M&A

“Very prompt response and good knowledge of the subject matter. The circumstances meant that both practical advice and an explanation of what the law required was needed, and with some prompting and asking additional questions, they were able to provide that practical advice that could be applied immediately.” - Restructuring and insolvency  

Oon & Bazul

Oon & Bazul is best recognised for its banking and finance work.

The banking team often handles work for Japanese and South Korean banks and has expertise in ship finance. Recent highlights include advising the lender in extending a loan to a firm operating the co-working space and advising Japanese banks and shipping companies on ship financings.

In M&A, the firm was recently for acquirers and sellers in sectors such as food and beverage, technology, and healthcare and pharmaceuticals.

Restructuring highlights from the past year include advising a debtor on its debt restructuring; assisting the liquidators in the liquidation of a Hong Kong company; assisting the liquidators of a financial services company.

Recent Deal Data highlights

•                      ESR-REIT S$95.8 million acquisition of a logistics facility

•                      Eurofins Scientific $670 million acquisition of Covance Food Solutions

•                      J-Plan liquidation

•                      Mencast Group debt restructuring

•                      Singapore Technologies Telemedia acquisition of a controlling interest in Cloud Comrade

•                      Ricebowl Technologies liquidation

•                      TPG Capital Asia acquisition of Innovative Diagnostics and Quantum Diagnostics

•                      Zhong Jun Resources Company liquidation

Client feedback

“We find the lawyers very professional, clear, diligent and responsible for the work that they did for us.” – M&A

QED Law Corporation

Boutique practice QED Law Corporation is known for its banking and finance and M&A work.

During the research period the banking team was mostly active on the side of the borrowers, advising on matters related to refinancing, project financing, and acquisition financing.

In the corporate and M&A space, the firm has experience in advising acquirers, sellers and joint venture partners. Recently the firm often advised on joint ventures in the hospitality sector.

Key sectors of expertise include real estate, construction, hospitality, energy, food and beverage, fintech, and healthcare and pharmaceuticals.

Recent Deal Data highlights

•                      Dekoruma Series B funding round

•                      Indochina Capital Corporation / Vanguard Hotels joint venture

•                      Indochina Kajima Development / KDV Investor 1 joint venture

•                      Indochina Kajima Development / KDV Investor 2 joint venture

•                      Sapphire Global Investment / The Ascott Capital $15 million loan facility

Client feedback

“We are very satisfied with QED's work. The team is very meticulous in drafting the legal documents to capture all possible scenario for a complex transaction. QED was able to turnaround the documents within a short timeframe despite the complexity. QED was also able to come up with helpful suggestions to bridge the expectation gap between the negotiating parties.” – Banking and finance

“Extremely proactive and helpful, going the extra mile to ensure all parties meet their deadlines through tight coordination of work. - Banking and finance

“Responsive, responsible, friendly, good quality work and thorough.” – Banking and finance

Reed Smith

Reed Smith in Singapore is active across the financial and corporate space.

In banking, the firm has a particular focus on in structured trade and commodities finance, advising on transactions including prepayments, pre-export financings, borrowing base facilities, limited recourse structures and inventory finance. The banking team regularly takes on mandates from banks, funds and trading houses.

In capital markets, the firm advises companies, underwriters, sponsors and other market participants on a range of capital-raising transactions. Recent highlights include advising issuers on IPOs on domestic and foreign exchanges and advising issuers on bond offerings.

In the corporate space, the firm often focuses on energy and natural resources, advising institutional energy and natural resources clients as well as investors including private equity, venture capital and family office investors. A recent high value mandate saw the firm advising the sellers in the disposal of their stake in Orange Renewable Holding. An award winning cross-border deal saw the firm acting for the seller in the divestment of a stake in hydropower plant operator in Vietnam.

The firm’s project development expertise cover sectors such as oil and gas, conventional power, renewables, utilities and manufacturing. A significant confidential mandate saw the firm advising a contractor on the development of a power project in Indonesia.

During the review period, the banking team welcomed counsel Hagen Rooke from Linklaters.

Recent Deal Data highlights

•                      Dagat-dagatan Sewage and Septage Treatment Plant upgrade

•                      Greenko Power Projects $1 billion acquisition of a stake in Orange Renewable Holding

•                      Inchcape Shipping Services acquisition of V.Ships’ global port agency business

•                      Infraco Asia Development divestment of a minority stake in Viet Hydro

Client feedback

“Flexible, nimble and client-centric in its solution delivery.” – Capital markets              

“The team was easy to work with and focused the need for my input to the relevant issues and was adept at capturing the advice I gave in the way the transaction ultimately was shaped.” – M&A

“Good quality and service!” – M&A

RHTLaw Asia

RHTLaw Taylor Wessing performs consistently across the financial and corporate space. The firm is a founding member of the ASEAN Plus Group (APG), a group of full-service law firms in Asia.

The banking team regularly acts for domestic and international banks, financial institutions and corporations and has recently been growing its presence in the fintech sector. The firm sits on the panels of numerous banks, including ANZ, DBS Bank, HSBC Private Bank, UBS, Julius Baer and Credit Suisse. The team has expertise in representing financiers, borrowers and security providers across an array of transactions.

A noteworthy capital markets engagement saw the firm advising the issuer in the first IPO and listing on the SGX for 2019.

The firms M&A team is known for its work in the technology and healthcare sectors. The team’s recent work was primarily a mix of buy and sell-side roles. An interesting deal saw the firm assisting the seller in the first sale of a 100% stake in a Japanese Financial Service Agency (FSA) licensed cryptocurrency trading platform to a non-Japanese shareholder.

The firm underwent significant staffing changes in the past year, with the hires of partners Yang Eu Jin from Overseas Education and Richard Tan from Barker Henley, while Benjamin Constance left the firm for DWF.

Recent Deal Data highlights

•                      Dusit Thani Public Company $15 million acquisition of Elite Havens

•                      Eric Cheng $50 million acquisition of FX Trade Financial and BitTrade

•                      Grand Venture Technology SGT IPO

•                      Moneymax Group acquisition of Ban Joo Pawnshop

•                      Nova Solutions Holdings acquisition of Bluescope Buildings’ pre-engineered building business

•                      OHMK Medical Technology investment in Endymed

•                      Owens & Minor $710 million acquisition of Halyard Health’s Surgical and Infection Prevent business

Client feedback

“Good financial product knowledge and it was easy to work with Gerard as he has the necessary financial knowledge and context. Turnover time was fast, and communication was easy.” – Capital markets       

“Very professional in providing good advice in legal and business aspects. Prompt in their responses to queries and able to complete all work within the tight timelines.” – M&A

“Prompt, professional, and cost-effective. Also suitably pragmatic.” – M&A

Shearman & Sterling

Shearman & Sterling in Singapore is known for its expertise in project finance and project development. Key sectors of focus include infrastructure, oil and gas, power, renewable energy, utilities and petrochemicals.

Recent highlights include advising on the financing and development of the high profile RAPID project in Malaysia; the financing and development of the Jawa 1 LNG to power project - the first and largest of the LNG-to-power projects in Indonesia and one of the most high profile projects in the region. The firm also advised the lender on the financing of Vena Energy Solar Projects – the first solar projects to be financed in Indonesia.

The capital markets team has a wealth of experience in IPOs, particularly in relation to India, Indonesia and Thailand. In the past year the firm primarily advised international banks and financial institutions in their roles as initial purchasers, arrangers, dealers, and solicitation agents on matters including bonds and notes issues.

In the corporate and M&A space the firm boasts one of the few pure private equity specialist teams in Singapore. The firm also focuses on insurance M&A and bancassurance matters. A newsworthy M&A deal saw the firm act for Petronas in an investment by Saudi Aramco in the RAPID project in Malaysia.

Recent Deal Data highlights

•                      Caisse de dépôt et placement du Québec acquisition Rs26.4 billion of a 40% stake in CLP India

•                      GMR Hyderabad International Airport $300 million 5.375% bond issue

•                      Golden Energy and Resources $150 million 9% bond issue

•                      Jawa 1 LNG to power plant

•                      Project RAPID

•                      Saudi Aramco $7 billion acquisition of a stake in Petronas' RAPID project 

•                      Vena solar power plant

•                      Vinh Tan 3 BOT power plant

Client feedback

“Highly capable and efficient team. Provided commercial solutions to complex issues.” - Project development                 

“The team is extremely responsive, commercially driven and provides excellent customer service.” - Project finance

“Knowledgeable and practical; able to convince counterparties and deftly negotiate terms.” - Project finance

 

Simmons & Simmons JWS

Simmons & Simmons JWS in Singapore is active in the financial and corporate space.

The firm has a robust investment funds practice and advises fund managers across Asia on a wide range of products, including hedge funds, PE funds, ETFs and other retail funds. During the research period the firm was often active on matters related to fund establishment.

Skadden Arps Slate Meagher & Flom

Active in the jurisdiction since 1995, Skadden Arps Slate Meagher & Flom in Singapore is strongest in capital markets, M&A and project development.

The capital markets team advises a diverse group of Southeast Asian and international issuers and underwriters on numerous capital markets transactions involving the raising of capital through debt, equity and hybrid issues. Recent high-value deals include advising a Chinese automotive company on its IPO and listing on the NYSE and advising repeat client Sea on its follow-on offering of shares on the NYSE.

The corporate team’s expertise include representing bidders, targets and financial investors on inbound and outbound cross-border M&A and private equity transactions. Notable recent mandates include advising Grab on its joint venture with Tokopedia and Lippo.

The firm strengthened its practice with the hire of John Hartley as an of counsel from Gibson Dunn & Crutcher.

Recent Deal Data highlights

•                      Grab / Tokopedia / Lippo joint venture

•                      Medco Energi Internasional $500 million acquisition of Ophir Energy

•                      Multi-Fineline Electronix $273 million acquisition of Multek Corporation’s China operations

•                      NIO NYSE IPO

•                      Renewable Energy Holding Corp $1.3 billion acquisition of a 32% stake in Energy Development Corp

•                      Sea $575 million 2.25% senior notes issue

•                      WeWork / True Properties Company

•                      Wirecard acquisition of Citigroup’s portfolio of merchant acquiring business

Squire Patton Boggs

Squire Patton Boggs’ Singapore office is recognised for its project development expertise.

The firm regularly advises governments and sponsors on strategic, procurement, commercial and risk issues relating to infrastructure projects. The firm has forged a close working relationship with the Singapore government, which has led to the team in Asia working on most PPPs that Singapore has undertaken.

During the research period the firm was active on several confidential mandates in sectors including oil and gas, utilities, and infrastructure. A highlight saw the firm advising a government body on the development of a PPP project in the utilities sector.

Client feedback

“Excellent response time and a detailed review of the agreement with proposed amendments to better protect our interests.” - Project development

“Proactive and meticulous.” - Project development

Taylor Vinters Via

Taylor Vinters Via in Singapore is noted for its M&A work.

During the research period the firm was active for investees, investors and joint venture partners on an array of matters including venture capital investments. The firm has a particular focus on the technology sector.

Recent Deal Data highlights

•                      Aly / Krypto joint venture

•                      Blue Whale Global $2.5 million investment in InstQuest

•                      Giddy Series D funding round

•                      Smack Holdings / Custom Gateway International joint venture

Withers KhattarWong

Withers KhattarWong in Singapore is best known for its restructuring and insolvency practice.

The firm acts for a wide spectrum of creditors, debtors and third parties in a restructuring or distressed transaction, such as financial institutions, multinational corporations, listed companies, directors, bondholders, trustees, investors, funds, financial advisors, liquidators and other insolvency administrators. Highlights include advising a Singapore-listed offshore marine company and its subsidiaries on the group’s debt restructuring.

The firm welcomed Justin Yip as a partner from Morgan Lewis Stamford to its restructuring team.

Recent Deal Data highlights

•                      AusGroup debt restructuring

•                      Bakrie Sumatera Plantations debt restructuring

•                      Bakrie Telecom debt restructuring

•                      CCM Industrial liquidation

•                      Ezion Holdings debt restructuring

•                      Hyflux Group debt restructuring

•                      Marco Polo Marine debt restructuring

•                      Rickmers Maritime debt restructuring

Client feedback

“Overall excellent service at a reasonable cost.“ - Restructuring and insolvency

“Good technical skills, prompt turnaround time and easy to work with.” - Restructuring and insolvency

“Knowledgeable, proactive, dependable, and responsive.” - Restructuring and insolvency

“They were a very good firm to work with. I would especially recommend Justin Yip, who is very pragmatic and diligent.” - Restructuring and insolvency

ZICO Insights Law

Established in 2015, ZICO Insights Law in Singapore is a member of the ZICO Law network and is active in the financial and corporate space.

Recent highlights include advising sellers and acquirers on acquisitions and assisting an issuer with an ICO.

Recent staffing changes saw the hires of directors Soh Chun Bin from Fortis Law Corporation and Ryan Lin from Kerry.

Recent Deal Data highlights

•                      AEI Corporation SS$50 million share and warrants issue

•                      CDH Genetech / China Grand Pharmaceutical and Healthcare Holdings $850 million financing

•                      Cloud Moolah Foundation ICO

•                      Golden Energy Mines $6.5 million acquisition of GMR Group entities

•                      Huan Hsin Holdings $13.77 million disposal of assets

•                      Param Mitra Coal Resources S$400 million reverse takeover of C&G Environmental Protection Holdings

•                      RHP $2.5 million financing