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Banking, finance and capital markets 
Local firms

Allen & Gledhill LLP fields an ‘incredibly deep bench of partners’, with a particularly strong reputation for highly structured financings, as well as a market-leading profile in Islamic finance. 2008 saw the finance team act for CIMB-GK Securities and Bank of New York Mellon on a S$1bn Islamic trust certificate programme, the first to be established by a corporate in Singapore. In addition, the capital markets team acted for DBS Group Holdings’ S$4bn rights issue, which was the largest Singapore capital markets transaction at the time. Clients note that Jerry Koh’s REIT experience is ‘hard to match’, and single out ‘senior statesman’ Lucien Wong and Tan Tze Gay, who is ‘probably the best capital markets lawyer in Singapore’.

Drew & Napier LLC has a prominent reputation for its project and acquisition finance work, and recently bolstered its regulatory expertise with the hire of Eric Chan. Consultant David Ang and ‘experienced and skilful’ Valerie Kwok lead the banking team, which acted for Lucite International on a $1bn term loan and revolving credit facility, while the ‘focused and driven’ capital markets team acted for Eng Wah Organisation on its $400m RTO of Transcu. Sin Boon Ann, Petrus Huang and Yeo Wee Kiong, whom clients praise for his ‘technical expertise and ability to prioritise matters’, lead the capital markets practice.

Shook Lin & Bok LLP has been active on leveraged finance transactions in the projects and energy sectors. The team, which clients consider ‘able to provide legal advice tempered with good business knowledge’, acted for HSBC on a HK$12bn facility for the proposed acquisition of a Hong Kong-listed telecoms provider, and advised Malayan Banking Berhad as issuer to the first Singapore dollar-denominated tier one regulatory issue by a non-Singapore issuer. Clients recommend Liew Kai Zee and equity capital markets specialists Janet Tan and Kenneth Oh.

Stamford Law Corporation’s boutique practice has developed a reputation for ‘excellent response times and commercial acumen’. In 2008, the firm acted for Mapletree Investments as the borrower on a S$1bn financing for the acquisition of commercial and industrial properties. The team, led by Susan Kong and ably supported by ‘outstanding industry expert’ Bernard Lui, was joined in 2008 by Valerie Jagger, who brings with her a wealth of experience through her in-house counsel roles at Barclays Wealth and Crédit Agricole.

WongPartnership LLP’s banking and finance work has a distinct project and acquisition 
finance flavour and its Islamic finance capability was further enhanced by the arrival of Azlin Ahmed in 2008. The team, led by Susan Wong and Alvin Chia, acted for Sumitomo Mitsui Banking on financing matters arising out of the restructuring of the Tanjung Jati B power plant expansion. Rachel Eng’s capital markets team acted for Ascendas Funds Management on the establishment of a S$1bn medium term notes programme.

Lee & Lee’s banking and finance practice acts on cross-border structured financings for foreign lenders. The distressed state of the market has brought with it an increase in refinancing work for a largely property developer client base, with highlights including advising DBS on a S$350m facility to CDL Real Estate Investment Trust. Louise Tan leads the team.

Loo & Partners LLP’s boutique practice is often clients’ ‘first port of call for projects of complexity and substantial value’. Its banking practice has strong links with state-owned funds across Taiwan, China and Korea, and has been acting for China Construction Bank on numerous credit facilities. The firm continues to provide IPO and RTO assistance for a largely regional client base. Name partner Loo Choon Chiaw ‘articulates his clients’ position in clear concise terms’.

Rajah & Tann LLP’s banking team sits within its corporate real estate practice, with Soon Choo Hock and Terence Choo particularly recommended for advisory work relating to derivative, compliance and regulatory issues. In 2008, the firm acted on a S$220m syndicated loan facility to a REIT. The capital markets team is headed up by Goh Kian Hwee and has a wholly owned subsidiary R&T Corporate Services, which acts as a qualified SGX Catalist sponsor. The team acted for Sumitomo Mitsui Banking and HSBC Institutional Trust Services on a number of revolving credit facilities to SGX-listed companies.

‘Well-versed in banking regulation and corporate finance’, Rodyk & Davidson LLP has a solid mid-size banking practice that is particularly well regarded for its real estate finance work. Practice head Doreen Sim advised the borrower on a S$1bn loan facility to refinance the acquisition and development of a land parcel at Marina View in Singapore. Clients highlight the team’s responsiveness and legal insight.

Colin Ng & Partners LLP handles revolving credit facilities for its international lender-based clientele. The capital markets practice acted for China Kunda Technology Holdings on its IPO on the Mainboard of the Singapore Exchange Securities Trading in October 2008. The team is led by Quek Li Fei, with name partner Colin Ng recommended.

KhattarWong acted for China Fibretech in its $28m initial public offering on the Singapore Stock Exchange. Tan Chong Huat heads the practice.

TSMP Law Corporation’s Benjamin Choo acted on an IPO of an education provider based in China with operations in Taiwan, Hong Kong, Malaysia and Singapore.

Wong & Leow LLC covers cross-border financing transactions thanks to dual-qualified partners such as Paul Elliott and James Huang.

Wong Tan & Molly Lim LLC fields a three-partner corporate finance and banking team led by Sunny Wong. Recent highlights include acting for a Chinese fabric manufacturer on its listing on SGX.

In addition to Arfat Selvam’s niche Islamic finance expertise, which has seen the firm 
advise on the formation of a sharia-compliant real estate fund, Arfat Selvam Alliance LLC has extensive experience with capital markets transactions. Clients recommend ‘creative and meticulous’ capital markets expert Krishna Ramachandra.

At Donaldson & Burkinshaw, Chia Yee Chern Daniel has property finance expertise. The firm also acts on syndicated loan transactions.

Engelin Teh Practice LLC’s name partner Engelin Teh advises on both transactional and contentious banking matters.

Claudia Teo heads up Harry Elias Partnership’s finance practice, while Latiff Ibrahim brings substantial Islamic finance expertise. Highlights include acting for Kuwait Finance House on cross-border loan facilities to a Singapore healthcare company.

Kelvin Chia Partnership has strong ties to China, with 2008 seeing the firm act for a Chinese corporation on its purchase and subsequent conversion into ordinary shares of convertible bonds issued by a Singapore company. Andrew Lai and Andrew Mak are the principal contacts.

Legis Point LLC acts for a number of foreign banks on documentation matters, and has seen a growing number of financing instructions from the private jet market. Young Chee Fong heads up the practice.

Tan Peng Chin LLC has a prominent list of over 20 international banking clients, including Agricultural Bank of China and BNP Paribas. Lim Jo See was appointed head of the corporate, banking and finance practice in 2009.


Corporate and M&A - Local firms

Clients consider the team at Allen & Gledhill LLP to be ‘invaluable in structuring and managing deal issues’. The firm acted for Temasek Holdings and Government of Singapore Investment, two of the world’s Super Seven sovereign wealth funds, on the landmark sale of three power generation companies in Singapore, and on an acquisition of property fund interests in Japan and China worth $1.3bn respectively. Clients praise Lee Kim Shin for his ‘commercially viable solutions’, while Tan Su May is highlighted for her ‘responsiveness and value-added advice’.

WongPartnership LLP’s M&A practice has been busy in the privatisation, REIT and cross-border acquisition arenas for a mixed client base of sovereign and private equity funds and corporations. It acted for Temasek Holdings on its disposal of a majority stake in Singapore Food Industries, and acted for Allco Financial Group in the sale of 17.7% of its REIT. ‘Competent, well-connected’ Dillan Pillay Sandrasegara and Ng Wai King are highly recommended.

Drew & Napier LLC significantly bolstered its M&A capability last year with the recruitment of Kenneth Chee from Allen & Gledhill LLP. Ralph Lim and Benedict Teo Lip Hua acted for a subsidiary of Temasek Holdings on the sale of its stake in Bank Indonesia International to Maybank, and the team is acting for PetroChina on its proposed acquisition of a stake in Singapore Petroleum. Managing partner Gary Pryke possesses ‘very strong corporate and capital markets expertise’.

‘Responsiveness, knowledge and commercial acumen’ are three major factors of Rajah & Tann LLP’s popularity among clients. The sizeable team acts across a diverse spectrum of sectors, with the power sector a particular focus area in 2008. The team acted for Lion Power Consortium on its S$4bn acquisition of Senoko Power from Temasek Holdings, as well as advising Gaz de France on the formation of a joint venture with PowerGas. Key partners include ‘creative and resourceful’ Goh Kian Wee, ‘thorough and commercial’ Sin Chei Liang and ‘resourceful’ Cynthia Goh.

‘Providing very good services at reasonable prices’, in 2008 Shook Lin & Bok LLP acted on a S$400m reverse takeover of SGX-listed Albedo, as well as acting for the offeror on a $310m mandatory tender offer for Straits Asia Resources. David Chong ‘goes to the nth level on deals’, while Michelle Phang has a ‘detailed and responsive’ manner.

Stamford Law Corporation has been advising Indonesian clients on mining-related acquisitions in the region, and hired Ashok Kumar, formerly at Allen & Gledhill LLP, to strengthen its corporate restructuring and insolvency practice. The ‘deeply knowledgeable’ team acted for Singapore Food Industries on its sale by parent company Temasek Holdings, as well as acting for Transcu on its reverse takeover of Eng Wah Organizations. Lee Suet Fern heads up the practice.

Alban Tay Mahtani & de Silva LLP’s global association with Bird & Bird LLP means ATMD Bird & Bird LLP has attracted new clients such as ESPN Star Sports and Genentech to an already enviable list that includes Pfizer. Clients consider Susan De Silva ‘ invaluable on employment and environmental law’, while Sandra Seah is ‘pleasant to work with and persistent’.

Arfat Selvam Alliance LLC’s transactional practice has been advising a number of SGX-listed companies and private equity funds on joint ventures, acquisitions and a growing number of restructurings. Arfat Selvam is the key contact, with clients highlighting the ‘detailed and creative’ approach of Krishna Ramachandra and Vignesh Napolean.

KhattarWong’s cross-border corporate practice focuses on privatisation and fund management work. Headed up by Tan Ching Huat, the team advised on SMRT’s acquisition of an equity stake in a Chinese company.

Lee & Lee’s corporate practice has been 
firmly focused on the domestic market, with a particular eye on the environmental sector. Adrian Chan advised L&M Group, which had been in judicial management since 2006, on a reverse takeover.

Rodyk & Davidson LLP acted for Ford on the sale of Jaguar and Land Rover to Tata 
Motors. Clients report high levels of satisfaction, praising Gerald Singham in particular for his ‘commercial perspective and extensive legal knowledge’.

TSMP Law Corporation has been heavily involved in the power sector, acting for the successful bidders on the PowerSeraya and Senoko Power acquisitions. Stephanie Yuen Thio is recommended.

Wong & Leow LLC’s client base encompasses multinationals such as Archer Daniels Midland as well as regional entities such as YTL Berhad. Headed up by Ai Ai Wong, the team advised Babcock & Brown on its investments into the Indian telecoms sector.

Wong Tan & Molly Lim LLC’s clients include Danone and Hitachi Leasing. Although stronger on corporate finance, the firm acted for a Norwegian company on the establishment of its Asia Pacific business operations. Sunny Wong is the key contact.

Elaine Beh and the corporate team at Colin Ng & Partners LLP were involved in the sale of a chain of restaurants as well as on the sale of a Japanese real estate joint venture structured through a Singapore trust. Clients rate Bill Jamieson.

Loo & Partners LLP has a particularly strong China and Taiwan corporate offering. Loo Choon Chiaw is ‘supported by a dedicated and experienced team’. The firm acted for a regional coal-mining group on a number of coal mine acquisitions in Inner Mongolia and Russia.

Arthur Loke & Sim LLP is a boutique firm with a strong China and India focus. The practice advised on an acquisition involving a Finnish ship engine company.

Donaldson & Burkinshaw has been refocusing its efforts on the IP sector, but continues to advise its international clientele on corporate and commercial work. Tan Bok Hoay is the primary contact.

Engelin Teh Practice LLC advises across a number of industries including telecoms and manufacturing with a particular focus on corporate restructuring. Angela Chen is the key contact.

Chin Hooi Yen at Gateway Law Corporation receives praise for ‘tempering her legal advice with commercial considerations’.

Harry Elias Partnership acted in the sale of Green Cross Pharma to Ascent Pharmahealth. Claudia Teo has a ‘flexible, walk-the-extra-mile approach’.

Kelvin Chia Partnership has a strong regulatory practice, and advises on transactional matters in Vietnam through its regional presence.

Legis Point LLC is a boutique outfit that has a strong corporate finance focus. The firm acts as Singapore counsel to a Swiss-based bank on its local documentation. Young Chee Foong heads up the practice.

Tan Kok Quan Partnership’s strengths are in real estate and IP, but it also has a solid corporate capacity.

Tan Peng Chin LLC’s client base ranges from multinationals to small and medium-sized local entities. C Chandrasegar is the primary contact.

Tan Rajah & Cheah is known for its work with new entrants to the tech industry.


Dispute resolution - Local firms

Drew & Napier LLC’s litigation work is roundly regarded as being ‘top notch’. Fielding seven senior counsel, the practice has the capacity to advise on a diverse range of sectors, 
with current market conditions seeing an upturn in instructions from its institutional and investment banking clientele. The team advised the Monetary Authority of Singapore, as well as an international bank on complaints arising out of the collapse of Lehman Brothers. Clients consider Davinder Singh ‘without peer at the bar’, while Hri Kumar and Cavinder Bull are all ‘strategic lawyers’. Tony Yeo has ‘in-depth knowledge of IP-related issues’.

Allen & Gledhill LLP’s sizeable litigation team has ‘outstanding strength in depth and a consistent quality of service received from senior partner all the way down to junior associate’. Senior counsel and ‘direct, in-depth strategist Ang Cheng Hock acted for Raffles Town Club on a highly-publicised dispute against its former shareholders, and has been acting alongside Edwin Tong on allegations of mis-selling and misrepresentation of structured products. Andrew Yeo is also recommended.

Fielding a ‘professional, efficient and high-quality team’ of five senior counsel, including recently appointed practice head Francis Xavier, Rajah & Tann LLP was involved in a broad spread of matters in 2008/09. The practice acted for key client HSBC on defending damages for a breach of an oral collateral agreement. Quentin Loh provides ‘out-of-the-box solutions’, while Sundaresh Menon receives praise from all quarters.

WongPartnership LLP’s strength in the international sector means it is often called on to advise on cross-border disputes in China and the Middle East, in the banking, corporate and infrastructure sectors. In addition to advising an international financial institution on its rights of action against losses caused by the collapse of Lehman Brothers, ‘experienced’ Alvin Yeo also acted for the Land Transport Authority on a dispute arising from the construction of the Circle Line rail project. Nish Shetty left the firm to join Clifford Chance.

‘Receptive, flexible’ Philip Fong is the standout figure at Harry Elias Partnership, which has a strong construction bent to its litigation practice. The firm successfully defended a leading international developer on a S$17.7m claim by one of its main contractors, and also acted for one of the defendants in the Raffles Town Club dispute.

KhattarWong acted for Volkswagen on a claim brought against it by a former authorised dealer for breach of contract, and has seen increasing instructions from Indian companies, such as India International Insurance.

Mong Hua Quek heads up Lee & Lee’s litigation practice, which continues to be active across a wide spectrum of industry sectors. Arbitration is a growing focus, while the litigation team acted on high-court real estate development matters.

Rodyk & Davidson LLP’s multi-disciplinary practice has been active on the admiralty front thanks to shipping expert Lawrence The. The team acted for an investment fund on a S$12m claim against a guarantor of shares in a Korean company. Philip Jeyaretnam and Herman Jeremiah are also recommended.

Shook Lin & Bok LLP provides advice that is ‘of a consistently high standard with fast turn
around times’. Acting across South East Asia, the team acted for four Indonesian mining companies in an $87m dispute relating to provision of materials and services. Vinodh Coomaraswamy ‘always makes time to respond to queries’. Sarjit Singh Gill and David Chan are also recommended.

ATMD Bird & Bird LLP has a strong reputation for its IP-related disputes work, with clients reporting ‘highly satisfactory levels of service’. In addition, the team has been branching out into the financial services sector, where it has been advising banks and financial institutions on personnel and consumer issues. Anand Nalachandran heads the practice.

Engelin Teh Practice LLC has experience with white-collar fraud claims and handles cross-border commercial disputes. Engelin Teh is the key contact and a qualified arbitrator.

TSMP Law Corporation represented 
well-known businessman Peter Lim in the 
Raffles Town Club dispute, and senior counsel Thio Shen Yi has been advising Centillion on cross-border disputes relating to the construction of recycling facilities. The practice also provides regulatory advice to banks and logistics companies.

Tan Rajah & Cheah is primarily focused on litigation on a broad spectrum of areas, from construction to personal injury. Bankruptcy and insolvency are core areas of focus. Chandra Mohan K Nair is the key figure.

‘Able to meet clients’ needs and cover all the legal angles’, Wong & Leow LLC has a strong cross-border litigation practice headed up by Tan Chuan Thye. The practice has been advising a group of more than 100 subsidiary proprietors in the highly publicised Horizon Towers litigation. ‘Clear and concise operator’ Lee Kiat Seng is recommended.

At Wong Tan & Molly Lim LLC, name partner Molly Lim heads up a litigation team with substantial expertise in banking litigation.

Ang & Partners’ expertise in maritime and insurance disputes has meant its focus is increasingly shifting to international arbitration. Chan Leng Sun is a panel arbitrator and adjudicator in SIAC.

Assomull & Partners’ insurance and commercial litigation practices continue to provide a steady stream of mid-level instructions, particularly in the banking sector where it is advising individuals in relation to negligence claims against investment banks. Madan Assomull is the contact figure.

Colin Ng & Partners LLP has experience acting in shareholder disputes, joint venture agreements and defamation claims, with a number of cases reaching appelate level in 2008. Peter Low is the key figure.

David Chong & Co handles commercial disputes as well as foreign arbitration.

Donaldson & Burkinshaw has niche IP and medical negligence expertise, as well as handling commercial litigation.

Gateway Law Corporation handles IP and IT litigation as well as domain name disputes. Colin Phan is the key figure.

Thio Ying Ying at Kelvin Chia Partnership advised on a dispute between a Chinese state-owned subsidiary and a Singapore public company.

Loo & Partners LLP attracts Taiwanese and Chinese companies, and is recommended for ‘excellent response times’.

Michael Hwang SC specialises in white-collar crime.

Kannan Ramesh heads Tan Kok Quan Partnership’s litigation practice, which covers commercial litigation and insolvency.

Tan Peng Chin LLC handles insolvency matters and an increasing number of arbitration disputes.


Intellectual property - Local firms

ATMD Bird & Bird LLP has a widely diversified IP practice that straddles both contentious work as well as non-contentious matters through a dedicated IP litigation team. In addition to handling trade mark registration and anti-piracy matters for Canon, HP, Nintendo, Nokia and Samsung, it has also been involved in several high profile IP infringement cases, including successfully representing Aman Resorts in a precedent-setting court of appeal case regarding its trade mark. Alban Kang has ‘an excellent knowledge 
of IP law, good litigation skills and has a strong 
team beneath him’.

Drew & Napier LLC has a vast pool of IP practitioners to dip into. The team has been involved in a number of high-profile cases at appellate court level, including Dedar Singh Gill’s successful defence of the Singapore Land Authority in an appeal by Virtual Map against earlier judgments that its online maps infringed the client’s copyright. Morris John heads up the patent division, while clients recommend ‘responsive and efficient’ Cecelia Girvin.

Allen & Gledhill LLP’s six-partner team delivers ‘prompt service that demonstrates very good industry knowledge’. The firm has a dedicated biotechnology practice, particularly focusing on advising pharmaceutical companies on various regulatory issues that arise over experimentation clinical trials and drug administration. The firm acted for Martek Biosciences in defending two patent revocation actions that were brought by Cargill International Trading. Dr Stanley Lai delivers ‘sound, clear advice’.

Amica Law LLC fields a ‘driven and focused team’ with ‘high levels of expertise’. It represents a formidable client base that includes BP, Dell and Starbucks on a spread of IP matters. Recent highlights include acting for GlaxoSmithKline on the seizure of counterfeit products. Winnie Tham and Jason Chan are ‘very strong trade mark and new media specialists respectively’.

Colin Ng & Partners LLP’s intellectual property practice is headed up by See Tow Soo Ling and litigation-focused Anthony Soh. The team advises on franchising, licensing and outsourcing agreements for a broadly international client base.

Donaldson & Burkinshaw has seen a shift in focus back to its traditional IP stomping ground in recent years. The practice’s expertise runs the gamut from trade mark and patent registration to high-level enforcement proceedings. Tan Bok Hoay is the key contact.

Wun Rizwi heads up KhattarWong’s IP practice, which acted for MediaCorp News, the owner of ChannelNewsAsia, in opposing a trade mark application in Singapore by Malaysian-based Astro All Asia Networks.

Lee & Lee offers a team of IP experts for all contentious and non-contentious matters, including brand protection work for leading multinationals. Tan Tee Jim leads the practice.

Namazie & Co. is a boutique IP and TMT practice that advises on a spread of transactional and contentious work for local and international clients. Farah Namazie is the primary contact.

Rajah & Tann LLP advises a list of clients that includes MediaCorp and Philips Electronics. It acts for local and international clients on trade mark protection, and acted in a Court of Appeal case involving the trade mark rights and copyright infringement of the “Rooster” brand. Lau Kok Keng heads the practice.

Rodyk & Davidson LLP’s IP practice has a strong contentious focus, but also handles transactional work through Gilbert Leong’s ‘good mix of legal expertise, business sense and negotiation tactics’. Low Chai Chong heads up the contentious side, which acted for Virtual Map at the Court of Appeal.

‘Professional, efficient’ Samuel Seow Law Corporation represents the producer of Singapore’s big-budget reality television series, “Contender Asia”, on all aspects of the production from negotiating the format licence to preparation of all production-related contracts. Trina Ha is ‘diligent, meticulous and highly responsive to every request’, while ‘knowledgeable and attentive’ Samuel Seow is also recommended.

Wong & Leow LLC’s IP team ‘always provides added value and makes it very easy to review a matter and give instructions’. The team also advises on enforcement and brand protection advice to a broad client list that includes pharmaceutical and health care companies Cardinal Health, Eli Lilly and Abbott Laboratories. Lorraine Anne Tay and Andy Leck ‘consistently provide solid, practical advice’.

Ella Cheong Spruson & Ferguson (Singapore) Pte Ltd is a boutique IP practice that handles work in South East Asia as well as India. Ella Cheong is the key contact.

Gateway Law Corporation’s clients include National Football League Properties and handles trade mark and patent infringement. Max Ng is recommended for his ‘quick response and turn-around times as well his uncluttered style’.

Haq & Selvam provides a full-service IP practice. Murqiana Haq is particularly well known for her work on domain name disputes.

Kelvin Chia Partnership handles handles trade mark and design registration services through Kinetica, a wholly owned subsidiary. Navaneethan Neminathan and Lim Mee Ying are the key contacts.

Keystone Law Corporation advised a worldwide online travel reservation booking portal on its Singapore rollout, as well as arranging the regional rollout and distribution of products relating to the food and beverage and pharmaceutical services. Bryan Tan is the primary figure.

Patrick Mirandah Co. (Singapore) Pte Ltd operates its Singapore office as a regional hub for South East Asia, handling its clients’ workloads through Singapore as well its offices in Indonesia, Thailand and Vietnam where necessary. Gladys Mirandah oversees this boutique practice’s brand protection work. Key clients include DuPont.

Ravindran Associates has a boutique IP offering that caters to clients in the media, fashion and IT sectors.

At Shook Lin & Bok LLP, Connie Loo advises a combination of multinationals and local players in the pharmaceutical, media and telecoms sectors.

Stamford Law Corporation’s Daniel Lim acted for Infocomm Asia on intellectual property rights relating to its regional distribution of online role-playing games.

TSMP Law Corporation advises on IP enforcement and contractual rights for the likes of Longchamp and Lippo.

Tan Peng Chin LLC handles both transactional and contentious IP matters for its client base. Mark Lim is the key contact.

Tan Rajah & Cheah has an extensive licensing and technology transfer experience in the pharmaceuticals and biosciences sectors. Imran Hamid Khwaja is the primary contact.

WongPartnership LLP is advising a major restaurant chain in the use and protection of their name in Hong Kong and China. Chan Hock Keng is the key figure.


International arbitration

Providing ‘timely responses and a great deal of strategic thought’, DLA Piper Singapore Pte. Ltd.’s four-partner arbitration practice advises on oil and gas, insurance and marine matters. The practice represented a Singapore shipyard against a European rig owner concerning the construction of an offshore oil platform valued at over $100m. Justyn Jagger advises ‘in a down to earth and simple manner without cloaking it in legal jargon’.

Norton Rose (Asia) LLP fields a ‘strong, organised and very responsive’ team which was joined in 2008 by Wilson Ang from Linklaters Allen & Gledhill. The team advised on disputes with a cumulative value of $1bn in 2008, and has been expanding to cover internal fraud investigations and anti-corruption matters for government-linked entities in Malaysia, Singapore and Brunei. Guy Spooner has ‘good business acumen’, while of counsel KC Lye is ‘cool under pressure’.

Shearman & Sterling LLP’s ‘competitive and experienced’ arbitration practice has been at the forefront of developments in Singapore’s arbitration market, with John Savage appointed to SIAC’s board of directors in 2008. The team acted for International Petroleum Investment in an ICC arbitration in Singapore against claims amounting to $5bn. Yu-Jin Tay is praised for his advocacy skills.

Drew & Napier LLC fields a ‘superb team with sharp, responsive counsel’. ‘Outstanding’ senior counsel Jimmy Yim acted as co-counsel with a US firm in an arbitration over a technology transfer project between a multinational and a Chinese conglomerate with claims in excess of $350m. In addition to the ‘awe-inspiring’ Davinder Singh, clients praise ‘efficient, intelligent’ construction expert Tan Liam Beng, Indranee Rajah, who 
is ‘affable and good on her feet’, and 
‘outstanding’ new senior lateral hire Christopher Anand Daniel.

Sundaresh Menon’s reputation as a leading arbitration figure means Rajah & Tann LLP is often clients’ first choice for Singapore counsel. Covering a wide variety of sectors including oil and gas, construction and TMT, the practice has been advising an Indian technology company in an ICC arbitration against a large Japanese conglomerate in a joint venture dispute.

WongPartnership LLP fields ‘one of the best combined Singapore litigation and arbitration practices’. Headed up by Alvin Yeo, the practice has seen an increase in instructions arising from the banking sector. The team recently acted for an international media company in a $1.75bn arbitration concerning a proposed joint venture for satellite pay services in Indonesia.

Allen & Gledhill LLP are considered ‘a top choice for contentious corporate matters’, with the arbitration practice acting in both the domestic and international projects and energy spheres. The practice acted for a leading Asian offshore oil and gas engineering and construction company in a $20m dispute relating to an offshore processing platform in the Middle East. Although the loss of K Shanmugam has been a blow, Andrew Yeo has ably steered the practice forward.

Clyde & Co has an insurance and reinsurance focus and is particularly strong on international trade and transportation, supplemented by a reputation as ‘historically the only aviation choice in Singapore and still top of the list’. John Champion is ‘a key component in arbitrations’, while David Clark and Peng Lim are ‘extremely hard-working aviation experts’.

Herbert Smith LLP focuses its arbitration work primarily on Indonesian matters relating to energy and telecoms. Key highlights for 2008 included acting for a major investment bank in a series of claims and counterclaims arising from non-payment of derivatives contracts by an Indonesian corporation. Maurice Burke leads the practice and was joined by Nicholas Peacock.

Holman Fenwick Willan LLP’s expertise in the marine, mining and energy sectors has ensured a steady flow of instructions across South East Asia and India. Managing partner Simon Davidson advises across a broad spectrum of dry shipping disputes, while Simon Sloane specialises in insurance and reinsurance, with Barry Stimpson rounding out the practice’s energy and mining expertise.

Ince & Co’s 15 fee-earner practice has a prominent profile in insurance, international trade and energy disputes to go alongside its excellent shipping practice, providing its clients ‘prominent support with extensive English law capability’. The team acted for a Turkish steel trader in a SIAC arbitration relating to goods supplied in the Indian steel market. Chris Grieveson is ‘particularly knowledgeable’.

At Lovells Lee & Lee, Richard Tan has ‘outstanding business sense and initiative’, and with its newly expanded energy practice is picking up an increasing number of instructions from that sector. Clients rate the team’s ‘approachable manner’.

Watson, Farley & Williams LLP’s ‘timely, professional and helpful’ team had a busy year, advising on nine offshore oil and gas construction claims as well as 10 commodities disputes. Clients note Marcus Gordon’s ‘depth of knowledge and professionalism’. Clients include Salamander Energy and Aman Resorts. It remains to be seen what effect Raja Bose’s departure for K&L Gates will have on the practice.

Wong & Leow LLC’s cross-border arbitration practice, which is incorporated into its broader litigation practice, is particularly known for its work in the energy sector. Tan Chuan Thye was involved in a dispute concerning the installation of a sub-sea pipe by a consortium for an Indonesian oil and gas company, and has been acting for an investment bank in derivatives-related arbitration.

ATMD Bird & Bird LLP’s arbitration practice sits within its dispute resolution group. Headed by Anand Nalachandran, the practice has particular expertise in construction arbitration cases, as well as broader contractual and asset purchase liability issues.

At Colin Ng & Partners LLP, Anthony Soh 
has domestic and international arbitration expertise with a strong TMT emphasis. The team acted for a Hong Kong company against a Korean-based multinational in an ICC arbitration relating to a failed multimillion-dollar merger and acquisition.

Michael Hwang SC’s sole practitioner has extensive experience as co-arbitrator and sole arbitrator to numerous ICC, UNCITRAL and SIAC disputes.

Respondek & Fan Pte Ltd’s Andreas Respondek was recently appointed as Sole Arbitrator in an ICC arbitration between a Danish and a Singaporean party regarding contractual and substantial damage claims.

Stephenson Harwood’s highly respected marine and offshore arbitration practice was further strengthened by the arrival of Timothy Elsworth and insurance specialist Steven Dewhurst, who comes from the Singapore office of DLA Piper Singapore Pte. Ltd.. The team regularly acts for P&I clubs on multimillion-dollar arbitrations.

Harry Elias Partnership’s Tan Chau Yee advised a leading charterer in Singapore in arbitration under LMAA terms on a claim by the shipowner for loss of freight, demurrage, and expenses arising from alleged breaches of various charterparties.

Mong Hua Quek leads Lee & Lee’s litigation team, which also handles arbitration matters.

Paul Wong is the headline figure at Rodyk & Davidson LLP.

TSMP Law Corporation advised a BVI company in an SIAC arbitration against the Singapore arm of a German company concerning a contractual dispute over an agency agreement in respect of Vietnam, Laos, Cambodia and Myanmar.

Wong Tan & Molly Lim LLC’s Molly Lim also handles arbitration matters through its litigation arm.


Projects and energy - Local firms

Allen & Gledhill LLP’s multi-disciplinary projects practice covers all aspects of development, from inception and financing to construction and maintenance. The practice straddles the local PPP market and the regional energy/infrastructure work with comparative ease; highlight instructions for 2008 include acting for PowerGas on the compulsory acquisition and transfer of Sembcorp Gas’s onshore natural gas pipeline network and assets, as well as acting for a European bank in connection with a proposed $110m project finance facility to a Malaysian company for the construction of a steel mill. Kelvin Wong, Ho Chien Mien and Kok Chee Wai are highly respected in the field.

WongPartnership LLP covers both the contentious and non-contentious aspects of infrastructure work. It acted for SembCorp Gas on the aforementioned compulsory acquisition and transfer transaction, and has been instrumental in the PPP sector, acting for a syndicate of banks reviewing project finance documentation for the largest educational infrastructure PPP in Singapore, ITE West College. Tay Peng Cheng and Christopher Chuah are both recommended.

Lee & Lee has a strong project financing capability and, taken in conjunction with its joint law venture with international firm Lovells Lee & Lee maintains a strong presence in the PPP sector. Finance expert Louise Tan acted for the lead arrangers on the financing of the S$4.2bn Sentosa Resorts World development project.

Rajah & Tann LLP’s projects practice was heavily involved in the energy sector in 2008, with the practice acting on the bid to acquire Senoko Power from Temasek Holdings, as well as advising on the development of a renewable Diesel production plant in Singapore. The practice has a strong telecoms offering and advised a consortium of Indonesian companies regarding all aspects of a major telecommunications infrastructure project involving the construction of over 11,000 km of submarine cable works and ancillary work.

TSMP Law Corporation has been busy on a number of public tenders and privatisation deals relating to the power and mining sectors, both in Singapore and Indonesia. The practice acted for a major design firm on consultancy agreements relating to the Sentosa Integrated Resorts project.

ATMD Bird & Bird LLP acts as principal counsel for Singapore’s energy regulator, which involved advising it in 2008 on the privatisation of Singapore’s power generation companies. The practice also advised a leading international photovoltaic systems integrator on the planning, building and operation of photovoltaic plants and solar modules and accessories in Singapore and Malaysia. Susan de Silva heads the practice.

At Drew & Napier LLC, Sandy Foo draws praise for her ‘commercially savvy ability to grasp novel financing structures quickly’. In addition to its ongoing work on the S$4.2bn financing for the purchase of Tuas Power by China Huaneng Group, the practice is also advising an Australian LNG group’s $720m bid to provide Singapore with LNG. Gary Pryke is also recommended.

Harry Elias Partnership fields a four-partner team led by Latiff Ibrahim. It advised a joint venture consortium on the S$2.5bn South Beach project, involving the construction and development of an environmentally friendly commercial and residential complex.

KhattarWong has expertise in project financing, and has been involved in a number of refinancing and construction facilities for commercial developments in Singapore. Carla Baker and Pearl Lim head up matters.

Rodyk & Davidson LLP built on its strong finance reputation in 2008, with Doreen Sim mandated to represent the lenders on the S$2.9bn acquisition financing and repowering of Senoko Power. The practice also acted for a special purpose vehicle in the grant of S$1.939bn development loan facilities for the refinancing of the acquisition and development of a land parcel at Marina View, Singapore.

Colin Ng & Partners LLP advised a client on a bid to design, build and operate a biomass co-generation system in Singapore in 2008. Bill Jamieson is the primary contact.

Wong & Leow LLC fields a regional project finance and development practice through its tie up with joint law venture partner Baker & McKenzie.Wong & Leow. Paul Elliott is the key contact.


Real estate and construction - Local firms

Clients report that their experiences with Allen & Gledhill LLP’s real estate practice have been ‘nothing less than first class’. The 12-partner real estate team is often at the forefront of developments in the REIT market, having been involved in almost all of the REITs that have been listed in Singapore as well as post-IPO real estate acquisitions and secondary offerings. The firm acted for The Singapore Freeport in a transaction involving 9,000 square metres of high security storage spaces, and acted for SingTel in a transaction involving the sale of land to Ascendas Real Estate Investment Trust. ‘Experienced and dedicated’ Penny Goh is recommended, as is construction specialist Ho Chien Mien.

WongPartnership LLP ‘has a deep knowledge and understanding of construction-related matters’. The practice acted on the senior financing of more than S$300m to Gammon Capital (West) for the largest educational infrastructure PPP in Singapore. The firm also acted for Toll Offshore Petroleum in its five-year $400m redevelopment of its integrated offshore logistics hub, Loyang Supply Base. Christopher Chuah, Dorothy Marie Ng and Carol Anne Tan are all recommended.

ATMD Bird & Bird LLP specialises in advising multinationals and retail companies on numerous leases of industrial property and commercial space. Highlights in 2008 include acting for ABB Industry on the intergroup transfer of 3 major JTC industrial facilities at Tuas, Ayer Rajah and Gul Crescent, as well as acting for the energy regulator of Singapore in the termination of its office premises at Somerset Road and relocation to new headquarters. Sandra Seah heads up the practice.

Colin Ng & Partners LLP has a broad client base consisting of corporate investors, construction companies and financial institutions, for whom it advises on real estate investments as well as retail, industrial and residential security. Elaine Beh and Chan Wai Mun are the key contacts.

Drew & Napier LLC has broad and deep expertise in both contentious and non-contentious real estate and construction matters. Lead partner David Chin acted for Lanxess on Singapore lease issues relating to the construction of a synthetic rubber plant in Singapore, while ‘efficient, intelligent and extremely helpful’ construction specialist Tan Liam Beng acted for an international contractor in an arbitration dispute relating to the construction of high rise condominiums in Singapore.

Harry Elias Partnership advised South Beach Consortium, a joint venture between City Developments (Singapore), Istithmar World Real Estate (Dubai), and US-based Elad Group, on the development of a S$2.5bn eco-friendly South Beach Project. Latiff Ibrahim heads up the practice.

KhattarWong acted for EC Prime on a mixed development comprising 293 residential units and 21 commercial units and acted in a claim in arbitration relating to defective construction works carried out by a contractor. Carla Baker is the key figure at the practice, which has experience in en-bloc property sale and purchase.

Lee & Lee’s real estate practice is experienced in Strata transactions as well as advising on structured lending to REITs, such as its work in 2008 for DBS Bank on a S$350m facility to CDL REIT, which utilised five hotels as security for the facility. Ow Yong Thian Soo heads up the practice.

Led by Quentin Loh, Rajah & Tann LLP fields a team of ‘specialists in building and construction law’ that advises a client list including GIC Investments and Chevron. The practice has been advising a developer of a $1.2bn renewable diesel production plant in Singapore, and acted on a claim over the construction of a commercial development in Shanghai.

Ramdas & Wong offers a mixed practice acting on residential, commercial and industrial developments as well as private and government-led construction projects. Kenneth Au-Yong is the primary contact.

Rodyk & Davidson LLP’s practice encompasses collective sale agreements and matters pertaining to probate, in addition to project financing. The team acted on the refinancing of the acquisition and development of a land parcel at Marina View, Singapore. Helen Yeo is recommended.

Stamford Law Corporation provides a ‘one-stop-shop for all land purchase matters’. The practice acted for AsiaEquity Ventures on its acquisition of a S$35m commercial property. Clients rate Susan Kong for her ‘well-balanced foundation in corporate, litigation and real estate matters’.

At TSMP Law Corporation, team leader Tan Bee Lian has been involved in the purchase and development of an industrial project and the sale of a number of commercial units. The client list consists of listed developer conglomerates and high-net-worth individuals.

Wong & Leow LLC advised YTL Group on its acquisition of 26% of Macquarie Prime REIT’s property portfolio. Ai-Ai Wong is the key figure.

John Chung heads up Kelvin Chia Partnership’s construction practice, which acted for a building contractor on a contractual dispute arising out of a ban on the export of Indonesian sand in 2007.

Tan Peng Chin LLC has experience on major property develoments as well as commercial sale and purchase and collective sales. Gwendoline Ong heads up the practice.

Donaldson & Burkinshaw is on the Central Provident Fund Board’s conveyancing panel, and has been providing advice on the Integrated Resorts projects at Marina Bay and Sentosa.

Engelin Teh Practice LLC’s Michael Seow advises on drafting and reviewing lease agreements and mortgage documentation for landlords and tenants.

Tan Rajah & Cheah acts for developers and has reported a growing workload in landlord and tenant matters. Khoo Ghee Saik is the key contact.


Shipping - Local firms

Allen & Gledhill LLP is notable for being ‘top of the pack for ship finance documentation’. Led by ‘extremely bright and conscientious’ Vivian Ang and ‘local ship finance doyenne’ Gina Lee Wan, the team handles a broad range of contentious matters and non-contentious finance deals. The team acted for Nordea Bank as Singapore counsel in connection with credit facilities amounting to $2.3bn to the Prosafe Group. Clients also recommend Harold Or for his ‘willingness to go the extra mile’.

Rajah & Tann LLP’s clients are keen to recommend it‘without hesitation for work in shipping and marine coverage areas’. The practice grew considerably in 2008 and now fields a 12-partner team that has seen disputes increase significantly. The team acted for the shipowner in a court of appeal claim for wrongful arrest of a vessel. Steven Chong and Toh Kian Sing lead the practice, while clients rate Kah Wah Leong for his ‘strategic ability to prioritise’.

Drew & Napier LLC has extensive experience on both dry and wet claims, with practice head Ian Koh highlighted as ‘a strong shipping lawyer who always does an excellent job’. The team acted for Mitsui Group on a claim for $69m against Projector.

Joseph Tan Jude Benny fields an experienced shipping and admiralty team that has been heavily involved in a number of collision and salvage claims. The team also handles dry work such as charterparty disputes for the likes of ExxonMobil and Dubai Drydocks. Jude P Benny is the key shipping figure.

T S Oon & Bazul’s five-partner practice provides ‘excellent service at very reasonable rates’, and fields a dedicated marine insurance practice that is ‘without peer in Singapore’. The team acted for the owners of a tug that collided with a LNG tanker. Bazul Ashaab has ‘a very keen mind’, while Oon Thian Seng is ‘approachable and practical’.

‘Excellent maritime law firm’ Ang & Partners’ workload encompasses dry, wet and transactional all under one roof. Loo Dip Seng focuses on admiralty litigation.

AsiaLegal LLC’s four partner practice acts for P&I Clubs and shipowners on marine collision and casualty claims, as well as charterparty disputes. Timothy Tan is the primary contact.

Gurbani & Co has an ‘outstanding litigator’ in the form of S Mohan.

Haridass Ho & Partners handles both wet and dry shipping work for shipowners, shipyards and P&I Clubs. Name partner Ajaib Haridass is the key figure.

KhattarWong acted for a marine logistics provider in a high court salvage claim. Michael Lai heads up the practice.

Loo & Partners LLP acted for Hana Bank on a $15m ship financing facility to a Korean shipping group. Loo Choon Chiaw has a ‘wealth of experience’ in the ship finance sector.

TSMP Law Corporation’s lender-focused practice acted as lead counsel to a syndicate of banks on a term loan facility of up to $175m to part finance the acquisition of 3 oil tankers. Chua Choon King leads the practice.


TMT - Local firms

Drew & Napier LLC is considered ‘among the top echelon of TMT firms in Singapore’. 2009 saw the team appointed for the 11th consecutive year as the Infocomms Develoment Authority (IDA)’s external legal advisors and is acting on all licensing and regulatory issues relating to the Government’s state-of-the-art Next Generation National Broadband Network (NGNBN) project. It also advises corporate clients such as Yahoo!, Apple and Microsoft. Lim Chong Kin merits particular mention for ‘the high quality of his advice and his personal devotion to matters’.

In addition to its strong local presence, Rajah & Tann LLP’s TMT work spans south east Asia, 
with recent highlights including acting as lead telecoms counsel for the Palapa Ring consortium on a submarine cable construction and maintenance project worth $1.5bn. It also acted for Salon Films in the setting up of a $100m integrated media fund with the Media Development Authority for the purposes of producing feature films, animation and related interactive games. Lau Kok Keng heads up the practice.

Allen & Gledhill LLP’s commercial TMT practice is ‘one of the top media law firms in Singapore’, and recently expanded with the appointment of Daena Goh to the partnership. Clients include Sony Pictures Entertainment and Google, for whom it is advising on its online advertising agreements. Tan Wee Ming provides ‘sound advice and clear drafting’.

Lee & Lee regularly advises on the drafting of software and related technology licensing agreements for telecoms clients and financiers. IP specialist Tee Jim Tan leads the practice.

Headed up by Ken Chia, Wong & Leow LLC has a cross-border scope to its practice, complementing a reputation in the local market for strength in government procurement work. In addition to advising the IDA on the NGNBN project, the team also advised Y-Max Networks on the implementation of the WiMAX network in Malaysia.

Keystone Law Corporation’s boutique IP and TMT practice advises both multinationals and local startups, most recently acting on regional distribution of products including medical devices, transaction gateways, lifestyle products and LCD panel technology. Bryan Tan is the central figure at the practice.

Rodyk & Davidson LLP has a strong patents team which means it is strong in the life sciences and biotechnology sectors. It acted for the successful consortium on its bid to design, build and operate NGNBN’s passive infrastructure. Gilbert Leong is the key figure.

ATMD Bird & Bird LLP has an excellent IP offering, and offers commercial expertise in TMT for a broad mix of media and pharmaceutical companies such as ESPN Star Sports and Pfizer. Koh Chia Ling heads up the practice.

Colin Ng & Partners LLP acted for Silverlake Axis on a global cross-licensing and outsourcing arrangement relating to proprietary banking. Stephen Soh heads up the practice, and was joined by Kong She Ping in April 2009.

Gateway Law Corporation features on the IDA’s legal panel and also acts for SGX-listed Challenger Technologies and Astro All Asia Networks, Malaysia’s leading cross-media group. Max Ng heads up the practice.

In addition to its sports and media focus, Harry Elias Partnership’s TMT clients include 3M Singapore and Green Cross Pharma, for whom it acts on real estate and acquisition matters. Michael Palmer heads up the practice.

Joyce A. Tan & Partners handles IP disputes as well as merchandising and licensing matters pertaining to domain names.

Kelvin Chia Partnership’s TMT practice attracts clients from knowledge-based industries such as media and biosciences. Kelvin Chia is the primary contact.

KhattarWong advises a client base that consists of software and logistics providers on licensing agreements and technical service contracts. Wun Rizwi leads the team.

Samuel Seow Law Corporation’s unique focus on entertainment law means it ‘possesses extensive knowledge on local and regional entertainment practices’. Clients include leading local television, film and animation production companies. Trina Ha and Samuel Seow are ‘always there to lend a personal touch and provide valuable advice’.

At Shook Lin & Bok LLP, Connie Loo handles the transactional media and entertainment work, while David Chong and Michelle Phang advise on contentious pharmaceutical and life sciences matters.

Stamford Law Corporation’s Daniel Lim advised Infocomm Asia on its regional distribution of multiplayer online role-playing games.

TSMP Law Corporation has been active on the contentious side, advising a logistics and supply chain multinational on a contractual dispute with the Singapore arm of an international memory chip maker over a specialised logistics and warehousing agreement.

Tan Peng Chin LLC provides regulatory advice to telecoms companies, as well as offering licensing advice to media clients.

WongPartnership LLP was involved in the bidding process for the Next Generation Broadband Network, and acted for an international media group in an international arbitration in Singapore concerning a proposed joint venture for satellite pay television services in Indonesia. Ng Wai King is the primary contact.


Tax - Local firms

With the arrival of ‘tax lynchpin’ Ong Sim Ho, Drew & Napier LLC’s tax practice has seen a move away from the traditional spheres of transactional and disputes work. In 2008, the practice was mandated to conduct a review of a SGX-listed multinational’s executive benefits program to ensure corporate and tax compliance and to recommend changes for improvements. Teoh Lian Ee has retired from the partnership.

Wong & Leow LLC’s tax practice ‘invariably delivers prompt and professional service’. The firm’s international scope has continued to place it at the forefront of cross-border tax structuring for multinationals, while 2008 not only saw an increase in restructuring-related instructions, but also the expansion into the wealth management sector with the arrival of senior associate Simon Michaels. Led by Edmund Leow, who is ‘highly regarded in the trust industry and understands the practicalities of trust formation and management’, the team acted on a multijurisdictional tax restructuring of a US corporation, and has also been advising a coalition of corporations in lobbying for changes to the tax regime in Singapore. Clients include the Charities Aid Foundation.

WongPartnership LLP transactional tax practice is reporting a growing focus on contentious tax work, for which it is considered to be ‘coming up strongly’ by clients thanks to its experience before the Singapore revenue and appeals tribunals. Headed up by Tan Kay Kheng, 2008 has seen the practice act for SembCorp Cogen in its appeal relating to property tax assessment on its buildings and machinery, as well as representing the taxpayer in its successful appeal to the income tax board against a decision to write back $15m of capital allowances.

Clients recommend Allen & Gledhill LLP for its strong relationship with local tax authorities, which enables it to assist its clients on a broad range of instruments and transactions, from regulatory advice relating to financial products to wealth management. Transactional highlights include acting for Malayan Banking Berhad in obtaining income tax exemption on interest payments relating to the issuance of S$600m tier 1 capital securities. Nand Singh Ghandi and Sunit Chabra are the standout individuals of the four-partner practice.

KhattarWong’s tax practice underwent a period of consolidation in 2008, with the loss of several key figures from the group. Nonetheless the team, led by senior partner Gurbachan Singh, still maintained a healthy flow of instructions, representing a logistics company in its objection to tax assessments on containerised cargo, as well as representing a property developer in an objection to the income tax comptroller relating to the disallowance of a $12m trading loss on the sale of a shopping mall.


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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
  • Getting The Deal Through - eCommerce

    The Singapore government has been proactive and inclusive in its encouragement and development of internet communications and e-commerce, by its establishment of a supportive legal and technical infrastructure, investments in technology and awareness- building. Policy-wise, it adopts a balanced and light-touch approach to ensure that minimum standards are set for responsible use of the internet while giving maximum flexibility to industry players to operate, and favours industry self-regulation.
    - Joyce A. Tan & Partners
  • RESTRAINT OF TRADE CLAUSES IN THE CONTEXT OF A SALE OF BUSINESS

    The Singapore Court of Appeal has affirmed that Singapore courts will take a more liberal approach when considering restrictive covenants in the context of a sale of business, compared to a situation where such covenants are contained in a contract of employment.
    - Drew & Napier LLC
  • PROPOSED LISTING MANUAL AMENDMENTS TO STRENGTHEN CORPORATE GOVERNANCE PRACTICE

    The Singapore Exchange Ltd (the “SGX”) has issued a public consultation paper which sets out proposed amendments to the Listing Manual of the Singapore Exchange Securities Trading Ltd (the “Listing Manual”). The proposals are the result of the SGX’s latest rule review. Such reviews are carried out annually to keep abreast of industry developments and to enhance the standards of the listed companies.
    - Drew & Napier LLC
  • SINGAPORE HIGH COURT CLARIFIES SCOPE OF FORCE MAJEURE AND TERMINATION CLAUSES

    The Singapore High Court has ruled that a rise in prices of sand, caused by a ban on sand exports (the “sand ban”) by the Indonesian government in January 2007, did not constitute a force majeure event which would relieve a concrete supplier of its obligations to supply concrete to a construction company. The court also highlighted the importance of being clear and unequivocal when communicating one’s intention to terminate a contract.
    - Drew & Napier LLC
  • GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

    Monetary Authority of Singapore (“MAS”) advocates that Islamic finance products shall receive similar regulatory treatments as the conventional finance products. However, MAS has not opted to have a separate Islamic finance regulatory regime that exists in parallel with the conventional framework. MAS accordingly serves as the driving force behind the change in the laws and regulations pertaining to the governance, validation and enhancement of Islamic finance transactions.
    - Loo & Partners
  • EROSION OF REMITTANCE BASIS OF TAXATION AND REVIVAL OF THE SOURCE ISSUE

    The charging section in the Income Tax Act brings within Singapore’s taxing jurisdiction not only income that is sourced in Singapore, but also income which is received in Singapore from outside of Singapore. In the light of criticism against remittance of income as a basis for taxation and the persistent lobbying of businesses in Singapore, recent amendments to the Income Tax Act have been steadily chipping away at the remittance basis of taxation in Singapore.
    - Drew & Napier LLC
  • INCOME TAX (AMENDMENT) (EXCHANGE OF INFORMATION) BILL 2009

    The Income Tax (Amendment) (Exchange of Information) Bill (the “Bill”) has been introduced in Parliament. The Bill proposes to amend the Income Tax Act to bring the level of assistance Singapore can provide to foreign jurisdictions under Avoidance of Double Taxation Agreements (“DTAs”) in line with the Organization for Economic Cooperation and Development’s Standard on the exchange of information for tax purposes (the “Standard”)
    - Drew & Napier LLC
  • Merger Control 2009

    The international regulation of mergers and joint ventures in 64 jurisdictions worldwide
    - Drew & Napier LLC
  • BANKS FACE CONSEQUENCES OF NON-COMPLIANCE WITH INTERNAL PRACTICES AND ACCEPTED BANKING PROCEDURES

    The Singapore High Court has criticised the conduct of the Singapore branches of two foreign banks in failing to adhere to internal control mechanisms and accepted banking procedures in the verification of signatures on certified extracts of board resolutions. The court also provided valuable guidance on the steps banks could take to ensure the bona fides of such certified extracts.
    - Drew & Napier LLC
  • QUARTERLY UPDATE: Competition Law

    (1) Singapore Competition Law Watch (2) Regional Focus - China  (3) Regulatory Update  (4) Industry News - Aviation - Petrochemical - Cement - Financial - IT - Others  (5) Do you know?
    - Drew & Napier LLC

Press releases

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