In its inaugural list, Asian Legal Business introduces the emerging legal practitioners in Thailand’s new era. These practitioners have demonstrated great potential in the industry and have received high praise from their clients. The list is in alphabetical order, and features profiles of select lawyers.
Even as dealmaking slowed down in the first half of 2023, the Asian region still recorded a number of notable M&A transactions. In its annual Asia M&A Rankings, ALB spotlights the leading law firms for M&A work, shedding light on the top players driving the region’s most impactful and intricate deals.
The role of general counsel at pharmaceutical and healthcare companies has become increasingly complex, particularly with the increased focus on health and wellbeing following the COVID-19 pandemic. GCs today must possess a diverse skill set that stretches far beyond legal expertise, if they are to effectively help their organisations meet legal and regulatory requirements while driving innovation and ensuring the highest standards of patient care.
The Thai Corporate Counsel Association (THAI-CCA) was launched in June with a mission to rejuvenate Thailand’s in-house community and expand its reach across the region. Sahachai Wibuloutai and Thitiwat Wisarath, co-founders of Thailand’s first corporate counsel association, share their vision for the organisation and how they are planning to tackle future challenges to achieve their goals.
South Korea’s major lenders are staring at a fundamental shake-up to their decades-long dominance of the country’s commercial bank sector, following the introduction of new rules. The South Korean Financial Services Commission (FSC) said in July that regional banks and ﬁnancial ﬁrms will be allowed to apply for nationwide commercial bank licenses. “The government will proactively consider new approvals if accompanied by sufﬁcient ﬁnancial resources and feasible business plans,” said Kim Joo-hyun, chairman of the FSC, in front of major ﬁnancial groups in the country.
Singapore was pegged by industry experts to become the cryptocurrency capital of the world. In 2021, the crypto market in Singapore grew to $1.48 billion, a ten-fold increase from the previous year, according to KPMG. Singapore lawmakers’ progressive attitude towards digital asset ﬁnance invited investors to its shores, setting up a rapidly expanding industry.
Russians have been moving their business and dispute resolution to Asia for over a decade, but new sanctions following the invasion of Ukraine has significantly hastened that process. Dispute resolution hubs like Singapore, Hong Kong and Tokyo are increasingly attracting Russian businesses following the implementation of Western sanctions, and that trend is set to continue as the conflict drags on.
In recent years, the traditional pricing arrangement between a law firm and a client has been increasingly challenged by requests for alternative frameworks, while the turbulent economic environment has further squeezed budgets on legal spending. Law firms in Asia share what they have experienced with clients’ demands in fee arrangements and how they are navigating the new dynamics to achieve continued profitability.
In July, a court in France issued a verdict that was hailed by the Malaysian government as a “decisive victory” in its decades-long dispute with a group of alleged Filipino heirs of a 19th-century sultanate over claims to Malaysian state assets overseas.