- How do the awards work?
- The Legal 500 United Kingdom Awards 2014
- The Legal 500 United States Awards 2014 - In-house winners
- The Legal 500 United States Awards 2014 - Law firm winners
- The Legal 500 Latin America Awards (coming soon)
- The Legal 500 Germany Awards (coming soon)
- Frequently asked questions
Singapore > Legal market overview
- Legal market overview
- Asset finance
- Banking and finance
- Capital markets
- Corporate and M&A
- Dispute resolution
- Intellectual property
- International arbitration
- Projects and energy
- Real estate and construction
- Restructuring and insolvency
- Bosnia and Herzegovina
- British Virgin Islands
- Burkina Faso
- Cape Verde
- Cayman Islands
- Costa Rica
- Czech Republic
- Dominican Republic
- El Salvador
- Faroe Islands
- Hong Kong
- Isle of Man
- Ivory Coast
- Latin America: International firms
- Netherlands Antilles
- New Zealand
- Papua New Guinea
- Saint Martin
- Sao Tome E Principe
- Saudi Arabia
- South Africa
- South Korea
- Sri Lanka
- St Barts
- St Vincent
- United Kingdom
- United Arab Emirates
- United States
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.
Search News and Articles
This update discusses the Copyright (Amendment) Bill 2014 (" Bill "), which was passed by Parliament on 8 July 2014.
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.
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.
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.
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
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?
Narendra Modi's National Democratic Alliance government unveiled its first budget for India on 10 July 2014. Presented by Finance Minister Arun Jaitley, the budget is primarily aimed at increasing investment, improving infrastructure and reviving manufacturing. The budget has largely adhered to market expectations by delivering investor-friendly policy initiatives. We set out some key areas below.
In November last year, the Singapore Exchange ( SGX ) and the China Securities Regulatory Commission ( CSRC ) announced the establishment of a direct listing framework ( Framework ) that will allow companies from China (which satisfy SGX's listing criteria) to list directly in Singapore.
A small restaurant in Minneapolis offered people free beer for the rest of their lives if they invested US$1,000 in it, or 0.5% of its equity for every US$5,000 invested. Northbound Smokehouse & Brewpub managed to raise US$220,000 to secure a bank loan and 2 years later, it is still thriving - the investors did not drink them dry. Lifetime beer members rarely went to the pub to drink by themselves, but almost always ordered food and brought other people along with them. For the investors, it was about the sense of ownership - they ended up being a huge army of cheerleaders for Northbound.
In Anwar Patrick Adrian v Ng Chong & Hue LLC  SGCA 34 the Court of Appeal ( CA ) addressed the issue of whether a solicitor owed a duty of care to a third party on whom his client wanted to confer a benefit. The CA had to relate the findings in the English case White v Jones  2 AC 2017 ( White ) to the Singapore framework of an overarching duty of care as set out in Spandeck Engineering (S) Pte Ltd v Defence Science & Technology Agency  4 SLR(R) 100 ( Spandeck ).
Stamford Law is advising the receivers and managers of Singapore Flyer Pte. Ltd. (in receivership) ( SFPL ) in the S$140 million sale to Straco Leisure Pte. Ltd of SFPL's business and assets, including the giant observation wheel known as the "Singapore Flyer".
Stamford Law advised International Game Technology, a company listed on the New York Stock Exchange, on the gaming law aspects of the definitive merger agreement with GTECH S.p.A. for the acquisition of IGT by GTECH for US$6.4 billion, comprising of US$4.7 billion in cash and stock and the assumption of US$1.7 billion in net debt.
Stamford Law advised certain bondholders in relation the proposed acquisition of SGX-listed Goodpack Limited by a KKR affiliate by way of a scheme of arrangement, which values Goodpack at approximately S$1.399 billion.
Stamford Law is advising SGX-listed Q & M Dental Group (Singapore) Limited, a growing private dental healthcare group in Asia which operates the largest network of private dental outlets in Singapore, in (i) its proposed grant of a call option to Heritas Helios Investments Pte. Ltd., a healthcare private equity fund seeded by IMC and managed by IMC's wholly-owned subsidiary, Heritas Capital Management Pte. Ltd. and (ii) its proposed rights issue, to raise approximately S$44 million collectively.
Stamford Law is advising SGX-listed Giken Sakata (S) Limited on its proposed placement to raise gross proceeds of up to S$24 million. Religare Capital Markets is the placement agent for the proposed placement.
Stamford Law is advising SGX-listed JK Tech Holdings Limited in relation to: (a) the proposed acquisition of certain oil concession interests and related assets in Alaska for an aggregate consideration of US$52.5 million; and (b) the proposed placement to raise gross proceeds of S$60 million. DBS and Maybank Kim Eng are the joint placement agents for the proposed placement.
Stamford Law is advising SGX-listed AusGroup Limited on its proposed acquisition of certain Australian subsidiaries of SGX-listed Ezion Holdings Limited which are engaged in the business of operating a port and marine supply base, ship chartering services and maritime training to indigenous workers, for an aggregate consideration of S$55 million.
Stamford Law advised SGX-listed Vallianz Holdings Limited on its placement to raise gross proceeds of S$54 million. UOB Kay Hian, Tata Capital and Religare Capital Markets acted as placement agents for part of the placement tranche.
Stamford Law has advised SGX-listed Polaris Ltd. on (i) its acquisition of shares in Indonesian-listed PT Trikomsel Oke Tbk for an aggregate consideration of S$65.8 million, and (ii) its placement raising gross proceeds of S$150 million which were used to acquire additional shares in Trikomsel for a consideration of S$149 million. Both Polaris and Trikomsel are involved in the retail and distribution of telecommunication and multimedia products in Singapore and Indonesia respectively. As a result of the acquisitions, Polaris will expand its geographical footprint in Asia and gain access to Trikomsel's extensive brand portfolio in Indonesia.
Stamford Law advises Goodland Group Limited on its acquisition of land in Malaysia valued at approximately RM547.8 million slated for development as commercial and residential properties through the acquisition of the entire issued share capital of Citrine Assets Pte. Ltd.