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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.

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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
  • 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
  • REGULATION UPDATE: CATALIST TRANSITION MEASURES

    The Singapore Exchange Limited (the “SGX”) has announced two measures to assist companies listed on Catalist which have yet to appoint a sponsor (“Catalist-NS companies”). The measures are intended to provide financial assistance and time extension to Catalist-NS companies in light of the current challenging economic climate.
    - 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