The Legal 500

Singapore

Editorial

Overview

Singapore continues to develop as a regional hub for international law firms conducting business in Southeast Asia and beyond. A further four international firms were granted Qualified Foreign Law Practice (QFLP) licences over the last 12 months: Jones Day, Linklaters Singapore Pte. Ltd, Sidley Austin LLP, and Gibson Dunn. The licence, now held by ten firms, allows foreign law firms to practise in Singaporean commercial law.

2013 also saw new formal alliances between international firms and their local counterparts: Clifford Chance’s tie up with Cavenagh Law LLP focuses primarily on dispute resolution; Stephenson Harwood’s alliance with Virtus Law LLP increases both firms’ shipping capabilities; and Clyde & Co Clasis Singapore’s alliance with Clasis LLC gives the joint venture combined international and local law expertise and advocacy. Other established alliances include Baker & McKenzie.Wong & Leow, Hogan Lovells Lee & Lee, and Pinsent Masons MPillay.

The market continues to see an increase in international law firms establishing new offices in the country, with foreign entrants now numbering over 100. New additions include Morrison & Foerster, Reed Smith, Freshfields Bruckhaus Deringer, and Addleshaw Goddard LLP.

Singapore’s reputation as a seat for international arbitration is growing and the market remains in expansion mode. The Singapore International Arbitration Centre (SIAC) is increasingly becoming the venue of choice for Chinese companies and discussions are also underway to consider the feasibility of establishing a Singaporean International Commercial Court.

The local market continues to be dominated by four pre-eminent firms: Rajah & Tann LLP, Allen & Gledhill LLP, WongPartnership LLP, and Drew & Napier LLC. Real estate work is a mainstay, and the market remains so vibrant that there are fears of a property bubble. The government has introduced cooling measures and price stabilising has also been suggested. Other strong and competitive local firms include Shook Lin & Bok LLP, Stamford Law and Rodyk & Davidson LLP.

Press releases

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Legal Developments in Singapore

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • PDPC issues additional Advisory Guidelines under the Personal Data Protection Act 2012

    On 11 September 2014, the Personal Data Protection Commission (" PDPC ") issued the finalised: 
  • Amendments to the Companies Act – Impact on Corporate Transactions

    This update discusses the amendments brought about by the Companies (Amendment) Bill in the following key categories of corporate transactions and the potential issues which stakeholders may face in practice:
  • Re-employment of Employees & Constructive Dismissal Claims

    This update reports recent developments on employment law and practice in Singapore.
  • Data Protection & Privacy in Singapore 2015 - article in GTDT

    As the invited authors of the Singapore Chapter in Getting the Deal Through - Data Protection & Privacy 2015 , Head of TMT Lim Chong Kin and Director Charmian Aw share further updates on developments in Singapore's data protection regime, as well as the growing impact of the Personal Data Protection Act 2012 on organisations and individuals alike.
  • http://www.drewnapier.com/Publications-Events/Legal-Updates/Copyright-(Amendment)-Bill-2014

    This update discusses the Copyright (Amendment) Bill 2014 (" Bill "), which was passed by Parliament on 8 July 2014.
  • Proposals to enhance regulatory safeguards for investors in the capital markets

    This update discusses a consultation paper published by the Monetary Authority of Singapore on proposals to enhance its regulatory framework for safeguarding investors' interests. The proposals are in the following three key areas: (a) extending to investors in non-conventional investment products the current regulatory safeguards available to investors in capital markets; (b) requiring investment products to be rated for complexity and risks, and for these ratings to be disclosed to investors; and (c) refining the non-retail investor classes including providing accredited investors the option to benefit from the full range of capital markets regulatory safeguards that are applicable for retail investors.
  • Competiton Law Quarterly Update Q2/2014

    In this edition's feature article "CCS airline industry market study", we discuss CCS findings from an airline industry market study which CCS commissioned to examine whether certain joint ventures between airlines operating through Singapore have actually resulted in net economic benefits.
  • PDPA related amendments to MAS AML/CFT notices and MAS’ response to feedback received

    In light of the Personal Data Protection Act coming into force, the Monetary Authority of Singapore (" MAS ") published a consultation paper proposing amendments (" Personal Data Amendment ") to MAS notices on prevention of money laundering and countering the financing of terrorism (" ML/CFT Notices "). The Personal Data Amendment aimed to clarify that for the purposes of meeting anti-money laundering / countering the financing of terrorism requirements, financial institutions may collect, use and disclose personal data without customer consent, as per existing practice. Following the receipt of feedback, MAS made further amendments to the Personal Data Amendment and published its response discussing the further amendments in light of feedback received. This update is a follow up to our earlier update on the Personal Data Amendment and discusses MAS' response.
  • Proposed framework for systemically important banks in Singapore

    The Monetary Authority of Singapore (" MAS ") recently published a consultation paper proposing a regulatory framework for systemically important banks in Singapore. This update discusses MAS' proposals, including, an overview of the proposed regulatory framework, the assessment methodology for identifying systemically important banks in Singapore, the policy measures to be applied toward such banks and the implementation timeline for the proposed regulatory framework. 29_july14_proposed_framework_for_systemically_important_banks_in_singapore
  • Compensation for Breach of an Arbitration Agreement: Damages for Damages

    One of the guerrilla tactics sometimes deployed to undermine an international arbitration is a party's wrongful attempt to invoke the jurisdiction of a national court to resolve a dispute. Often this is done because the party anticipates, or can improperly secure, a favourable outcome before its ‘home' court. This may be a pre-emptive strike in anticipation of an arbitration being commenced by the other party, or it could be done to frustrate an existing arbitration. How can you effectively combat such tactics and uphold the dispute resolution process you had bargained for?

Press Releases in Singapore

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to