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Asia’s markets, like the rest of the world, have seen a steep decline in dealmaking in the first half of the year. But macroeconomic trends, increase in asset quality and lucrative exit opportunities promise a better future for the region’s traditional and emerging markets.

Asia’s dealmaking landscape in the first half of the year paints a gloomy picture if looked at from 30,000 kilometres above the ground. Its colourful tapestry has been bombed with sharp declines in both deal value and volume, with thick clouds of geopolitical uncertainty, high interest rates and brutal fundraising conditions looming overhead.

The 7,966 deals announced in the Asia-Pacific region during January-July 2024, was 9.9 percent lower when compared to the 8,840 deals announced during the same period in previous year, according to GlobalData, an analytics company.  

And this was across the board. The number of M&A deals declined by 8.3 percent, and the volume of private equity and venture financing deals fell by 25.4 percent and 10.9 percent, respectively.

Even deal value for the first half of the year, at $228 billion, is the lowest it’s been in the last five years, according to a PwC report.

But breaking through the clouds, you see a more nuanced picture of mixed growth. China, Australia, South Korea, Singapore, Malaysia, Hong Kong and Indonesia saw declines in deal volumes, but India, Japan and Thailand witnessed their respective deal volumes improve by 2.4 percent, 5.7 percent and 8.5 percent.

Notably, the overall single-digit decline is nothing compared to 19.6 percent, 16.9 percent, 11.7 percent and 27.7 percent deal volume drop witnessed by North America, Europe, Middle East and Africa, and South and Central America respectively during January-July 2024, evidencing that while the decline in dealmaking in a global trend, investors showed more faith in the APAC region that anywhere else in the world.

Furthermore, private equity portfolios in Asia, which have been on their books for over four years, are primed for sale, promising a flurry of dealmaking in the second half of the year. Maturing markets in emerging Asia are also looking at more inorganic ways to expand, chief among them acquisitions. The strong focus on technology in Asia is also set to drive forward a new age of consolidation, as the number of small players in the market rise. The market is ripe for the taking.

This can be evidenced by global funds that have been consistently moving to Asian markets considering the growing range of high-quality assets, lucrative exit opportunities and a range of diverse markets to build a stable high-yielding portfolio. Goldman Sachs, Stonepeak, CVC Capital, KKR & Co, Hahn & Company and Vertex Holdings have all set up multi-billion-dollar funds dedicated to Asia this year.

SINGAPORE REMAINS M&A HUB

The first half quarter of the year saw a steep decline in dealmaking going through Singapore, owing to global capital’s concerns with overall macroeconomic outlook, concerns about China’s impact on Southeast Asia and high interest rates.

Christian Chin, partner and co-head of Allen & Gledhill’s  M&A practice says that while such factors tend to give pause to decision-makers, “after the post-pandemic lull induced by macroeconomic and geopolitical instability, there is now eagerness to return to business-as-usual.”

Despite the challenging environment for deal-making, exits and fundraising, Singapore remains one of Asia’s top M&A destinations owing to its strong regulatory policies and stable political environment.

“Singapore’s main advantages relate to how quickly and efficiently deals can get done – the laws are clear, and where approvals are needed, these tend to be processed quickly and the outcomes are often predictable,” explains Chin.

Since April, the value of deals involving companies based in Singapore has soared to $23.8 billion. This marks a 102 percent jump from the second quarter of 2023, an IMC report finds.

It is not just the number of deals – these are strategic and large transactions that place Singapore as the hub for Southeast Asia, with unprecedented inbound foreign direct investment by international names, the Straits Times reported.

The string of marquee deals in the second quarter include Singtel-KKR consortium agreeing to invest $1.75 billion in ST Telemedia (STT) Global Data Centres, Allianz offering $1.6 billion for a majority stake in Income Insurance, Shell acquiring liquefied natural gas trader Pavilion Energy from Temasek, a new $.7.8 billion semiconductor joint venture between Vanguard International Semiconductor Corporation and NXP Semiconductors, and OCBC’s $1 billion unconditional general offer to buy stake in Great Eastern Holdings.

In Southeast Asia’s private equity market, Singapore maintained its lion’s share of deals despite an overall drop in deal activity, securing $3.7 billion out of a total of $9 billion PE deals in the region in the first half of the year, a Bain & Company report found. The island nation also led in deal volume, picking up 62 of the 109 deals done across the region. Notably, Singapore continues to see a steady growth in fintech deals, amid a global decline in the industry. The Singapore government’s policy of effectively recognising digital rights, regulating the decentralised nature of financial technology, and creating a robust risk management framework is placing it ahead of other Western competitors as an investment hub.

The cryptocurrency and blockchain segments of Singapore’s fintech market recorded $211.90 million across 72 deals in the first half of 2024, a 22 percent uptick from the $166.30 million over 38 deals recorded in the second half of 2023, KPMG reported.

Investors, while confident in Singapore’s strong corporate governance and political climate, are taking a more cautious approach to dealmaking. They prefer taking a longer look at the macroeconomic conditions, competitive markets and the quality and potential of future assets in the island nation’s market – a trend that is likely to continue.

Significant pent-up demand for PE investors, a need to spur exits and the rise of healthcare and financial technology as attractive sectors are likely to enhance dealmaking in the coming months.

“The momentum of the first three quarters is likely to carry through the rest of the year, and we expect infrastructure, healthcare and technology sectors to continue to be active, and activity to pick up in the real estate sector,” Chin says.

AMBITIOUS INDONESIA

Among emerging markets in Asia, none has more promise than Indonesia, which has ambitious plans to bring in strong global investment through acquisitions and private equity investments for its fast-maturing economy, with a strong focus on minerals, technology, consumer and retail, energy and natural resources.

Indonesia secured $53 billion in combined foreign and domestic investments in the first half of 2024, with foreign investors accounting for over 50 percent of this number. Singapore remains the country’s top investor, with $8.8 billion committed in the first half of the year. China, Hong Kong, the U.S. and Japan also maintain strong portfolios in the archipelago.

As in 2023, the downstream metal industry dominates the investment space, with $7.8 billion coming in from local and international sources in the first half of the year. Indonesia aims to dominate the nickel market – as the holder of the world’s largest nickel reserves – looking to build an international electric vehicle supply chain and become one of the top three battery producers by 2027.

Transport and telecommunications was the second largest sector in terms of dealmaking this year, with over $5.7 billion in deals completed so far, as the country looks to invest heavily in infrastructure for its rapidly urbanizing population. In July, Metro Pacific Tollways Corp and Singapore sovereign wealth fund GIC announced a 35 percent acquisition worth $1 billion in a unit of Indonesian toll-road operator PT Jasa Marga. Earlier in the year, APG Asset Management invested in a $2.75 billion Indonesia toll road investment platform, along with the Indonesia Investment Authority and Abu Dhabi Investment Authority.

Investors, while optimistic about Indonesia’s growth trajectory, raise concerns about slow regulatory process and bureaucratic red tape and say a stronger incentive program will further enhance the country’s attractiveness as an investment destination.

RESILIENT JAPAN

While the Bank of Japan recently shocked the world by increasing interest rates, recent government and market initiatives aimed at enhancing corporate governance and capital allocation in Japan have spurred a wave of M&A and private equity activity in the country. These reforms, which encourage companies to adopt a more transparent and shareholder-friendly approach, have created a favourable environment for dealmaking.

Japan has seen 2,321 M&A deals in the year as of August 22, well on track to meet last year's number of 4015, with a healthy number of outbound, inbound and domestic deals, a JP Morgan report said.

Large Japanese drugmakers have been on an overseas acquisition spree of late as they look to replenish their drug portfolios, amid a shrinking domestic economy. Otsuka Pharmaceutical signed a $1.1 billion agreement to acquire Boston-based Jnana Therapeutics while Ono Pharma announced the acquisition of U.S.-based cancer drugmaker Deciphera for $2.4 billion, in the past two months.

Outside of pharma, Japan Tobacco will acquire Vector Group, the fourth-largest tobacco company in the United States, for $2.4 billion. Japanese homebuilder Sekisui House purchased Denver-based MDC Holdings for $4.9 billion.

Japan has emerged as the latest hotspot for private equity investment as geopolitical risks and weak return outlooks dampened the attractiveness of other traditional Asian markets, amongst them notably China.

KKR & Co plans to buyout Japanese system developer Fuji Soft for $4.09 billion, Blackstone will take Japanese digital comic distributor Infocom private for $1.74 billion, while selling its stakeholding in Alinamin Pharmaceuticals to MBK Partners for $2.17 billion, and CVC Capital Partners will acquire the country’s fifth-biggest pharmacy store Sogo Medical Group for $1.2 billion.

Going forward, the Japanese market will see more dealmaking from market, an increase in unsolicited offers following the notification of new corporate takeover guidelines in 2023, and an increase in shareholder activism-related dealmaking owing to improving disclosure guidelines and growing interest of U.S. activist investors.

 

METHODOLOGY

OUR RESEARCH

  • The research covers the period spanning from August 2023 to July 2024. This includes both ongoing work and matters that were closed during this timeframe.
  • ALB will draw results from firm submissions, Thomson Reuters M&A data, interviews, editorial resources and market suggestions to identify and rank the top firms for M&A in Asia. Interviews will be conducted only if needed.
  • The rankings will be divided into tiers, with the first tier identifying the strongest M&A firms in each jurisdiction.
  • The rankings will cover the following jurisdictions: China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. There will be no Asia-wide table.
  • The rankings will feature both domestic and international firms.
  • The following jurisdictions will have separate tables for domestic firms and international firms: China, Japan and South Korea.

Our research does not cover Australia and New Zealand.

OUR RANKINGS

Our rankings are based on the following metrics:

  • The volume, complexity and size of work undertaken
  • Presence across Asia and in individual jurisdictions
  • Key personnel hires and growth of the practice group

CHINA DOMESTIC

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

Commerce & Finance Law Offices

Global Law Office

Haiwen & Partners

Han Kun Law Offices

Jingtian & Gongcheng

JunHe

King & Wood Mallesons

Tian Yuan Law Firm

Zhong Lun Law Firm

AllBright Law Offices

Dacheng Law Offices

DaHui Lawyers

DeHeng Law Offices

Grandall Law Firm

Grandway Law Offices

Guantao Law Firm

Jia Yuan Law Offices

Jincheng Tongda & Neal Law Firm

Llinks Law Offices

AnJie Broad Law Firm

Hylands Law Firm

Co-effort Law Firm

Docvit Law Firm

East & Concord Partners

FenXun Partners

Hui Ye Law Firm

Long An Law Firm

Merits & Tree Law Offices

Shihui Partners

T&D Associates

Tahota Law Firm

V&T Law Firm

Anli Partners

Beijing DHH Law Firm

Boss & Young Attorneys at Law

China Commercial Law Firm

HHP Attorneys-At-Law

Hiways Law Firm

JunZeJun Law Offices

K&H Law Firm

Kangda Law Firm

L&H Law Firm

Tiantai Law Firm

W&H Law Firm

Yenlex Partners

 

CHINA INTENATIONAL

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

Clifford Chance

Freshfields Bruckhaus Deringer

Linklaters

Skadden, Arps, Slate, Meagher & Flom

A&O Shearman

Baker McKenzie FenXun

Davis Polk & Wardwell

DLA Piper

Hogan Lovells

Norton Rose Fulbright

Paul, Weiss, Rifkind, Wharton & Garrison

Simpson Thacher & Bartlett

White & Case 

Cleary Gottlieb Steen & Hamilton 

Eversheds Sutherland

Kirkland & Ellis

Morgan, Lewis & Bockius

Morrison & Foerster

Orrick, Herrington & Sutcliffe

Paul Hastings

Slaughter & May

Sullivan & Cromwell

Ashurst

Bird & Bird

CMS

Dorsey & Whitney

Gibson, Dunn & Crutcher

Gide Loyrette Nouel

Gowling WLG (UK)

Herbert Smith Freehills

Jones Day

K&L Gates

Latham & Watkins

Lee & Ko

Mayer Brown

Milbank

MMLC Group

Nishimura & Asahi

Oldham, Li & Nie

O'Melveny

Reed Smith

Ropes & Gray 

Seyfarth Shaw

Simmons & Simmons

Wilson Sonsini Goodrich & Rosati

 

HONG KONG

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

Clifford Chance

Freshfields Bruckhaus Deringer

Kirkland & Ellis

Latham & Watkins

Linklaters

Skadden, Arps, Slate, Meagher & Flom

Slaughter and May

A & O Sherman

Baker McKenzie

Davis Polk & Wardwell

Herbert Smith Freehills

Norton Rose Fulbright

Simpson Thacher & Bartlett

Sullivan & Cromwell

Weil, Gotshal & Manges

Ashurst 

Deacons

Debevoise & Plimpton

Gibson, Dunn & Crutcher  

Hogan Lovells

King & Wood Mallesons

Mayer Brown

Morrison & Foerster

Paul, Weiss, Rifkind, Wharton & Garrison 

Reed Smith Richards Butler

White & Case

Akin Gump Strauss Hauer & Feld

Bird & Bird

Charltons

Cleary Gottlieb Steen & Hamilton

CMS

Dechert

Dorsey & Whitney 

Eric Chow & Co. in Association with Commerce & Finance Law Offices  

Eversheds Sutherland

Fangda Partners

Gallant

Goodwin

GPS Legal 

H.M. Chan & Co. (Taylor Wessing)

Howse Williams

K&L Gates

Milbank

Minter Ellison

MMLC Group

Morgan, Lewis & Bockius

Oldham Li & Nie

O'Melveny

Paul Hastings

Proskauer Rose

Ropes & Gray

Seyfarth Shaw 

Sidley Austin

Simmons & Simmons

Stephenson Harwood

Stevenson Wong & Co

Tanner De Witt

Vivien Chan & Co

Wilson Sonsini Goodrich & Rosati

YYC Legal

 

INDIA

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

AZB & Partners

Cyril Amarchand Mangaldas

IndusLaw

JSA Advocates & Solicitors

Khaitan & Co.

Luthra & Luthra Law Offices

S&R Associates

Saraf and Partners

Shardul Amarchand Mangaldas & Co 

Talwar Thakore & Associates (TT&A)

Trilegal

Anagram Partners

Argus Partners 

Bharucha & Partners

Dentons Link Legal

Desai & Diwanji

DSK Legal

Economic Laws Practice (ELP)

HSA Advocates

Kochhar & Co.

Majmudar & Partners

Nishith Desai Associates

P&A Law Offices

Phoenix Legal

Quillon Partners

Resolut Partners

Samvad Partners

Touchstone Partners

Vaish Associates, Advocates

Veritas Legal

ALMT Legal

Chandhiok & Mahajan, Advocates & Solicitors

Clasis Law

Fox & Mandal

Fox Mandal & Associates

Juris Corp

Krishnamurthy & Co. (K Law) 

Lakshmikumaran & Sridharan Attorneys 

Rajani Associates

Sarthak Advocates & Solicitors

Singhania & Partners

Spice Route Legal 

Tatva Legal

Vertices Partners

Wadia Ghandy & Co

Aekom Legal

Ahlawat & Associates

AKS Partners

AnantLaw

Archer & Angel 

Begur & Partners 

Burgeon Law

Dhir & Dhir Associates

Dua Associates

Gravitas Legal

Hammurabi & Solomon Partners

King. Stubb & Kasiva

LexCounsel

Maheshwari & Co. Advocates and Legal Consultants

Mansukhlal Hiralal & Co

NovoJuris Legal

Pioneer Legal 

Sagus legal 

Stratage Law Partners

Tempus Law Associates 

 

INDONESIA

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

ABNR Counsellors at Law

Assegaf Hamzah & Partners 

Ginting & Reksodiputro in association with A & O Shearman

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills

SSEK Law Firm

Hanafiah Ponggawa & Partners – Dentons HPRP

Makarim & Taira S.

Makes & Partners

Oentoeng Suria & Partners in association with Ashurst

PwC Legal Indonesia

Soemadipradja & Taher

Walalangi & Partners (in association with Nishimura & Asahi)

Widyawan & Partners (in association with Linklaters)

AYMP Atelier of Law

Christian Teo & Partners

Hogan Lovells DNFP, in association with Dewi Negara Fachri & Partners

Mochtar Karuwin Komar

Roosdiono & Partners

UMBRA – Strategic Legal Solutions

ADCO Law

Adnan Kelana Haryanto & Hermanto

ARKO (Armila & Rako) Law Office

Azwar Hadisupani Rum & Partners

Fikry Gunawan

FKNK Law Firm 

H&A Partners (in association with Anderson Mori & Tomotsune)

Hendra Soenardi

Hutabarat Halim & Rekan (HHR Lawyers)

IABF Law Firm

Imran Muntaz & Co

Leks&Co

Sutedja & Associates in association with Gurbani & Co 

TNB & Partners in association with Norton Rose Fulbright Australia

TnP Law Firm

Witara Cakra Advocates (WCA) in association with White & Case Indonesia

 

JAPAN DOMESTIC

TIER 1

TIER 2

TIER 3

Anderson Mori & Tomotsune

Atsumi & Sakai

Mori Hamada & Matsumoto

Nagashima Ohno & Tsunematsu

Nishimura & Asahi

TMI Associates

Hibiya-Nakata

Miura & Partners

Oh-Ebashi LPC & Partners

Ushijima & Partners 

City-Yuwa Partners

Gaien Partners

Kojima Law Offices

 Southgate

Tokyo International Law Office (TKI)

 

JAPAN INTENATIONAL

TIER 1

TIER 2

NOTABLE FIRMS

A & O Shearman

Baker McKenzie (Gaikokuho Joint Enterprise)

Davis Polk & Wardwell

Herbert Smith Freehills

Morrison & Foerster/ Ito & Mitomi

Simpson Thacher & Bartlett

White & Case Law Offices (Registered Association)

Clifford Chance

DLA Piper

Freshfields Bruckhaus Deringer 

Hogan Lovells Horitsu Jimusho Gaikokuho Kyodo Jigyo

Jones Day

Latham & Watkins Gaikokuho Joint Enterprise

Linklaters

Paul, Weiss, Rifkind, Wharton & Garrison 

Skadden, Arps, Slate, Meagher & Flom 

Ashurst 

EY Law

King & Spalding

Mayer Brown GJBJ

Milbank

Morgan, Lewis & Bockius

Norton Rose Fulbright 

Orrick, Herrington & Sutcliffe

Paul Hastings

PwC Legal Japan

Ropes & Gray

Simmons & Simmons

Squire Gaikokuho Kyodo Jigyo Horitsu Jimusho

 

MALAYSIA

TIER 1

TIER 2

NOTABLE FIRMS

Christopher & Lee Ong 

Rahmat Lim & Partners

Shearn Delamore & Co

Skrine

Wong & Partners (member firm of Baker McKenzie)

Abdullah Chan & Co 

Adnan Sundra & Low

Kadir Andri & Partners

Lee Hishammuddin Allen & Gledhill

Mah-Kamariyah & Philip Koh

Mohamed Ridza & Co

Zaid Ibrahim & Co (in association with KPMG Law)

Zain & Co

Albar & Partners

Azmi & Associates

Cheang &Ariff

Chooi & Company

D&P Law Group

Donovan & Ho

Foong & Partners

Gan, Lee & Tan

Halim Hong & Quek

Jeff Leong, Poon & Wong

LAW Partnership

Lim Jo Yan & Co 

MahWengKwai & Associates 

Naqiz & Partners

Peter Ling & van Geyzel

Raja, Darryl & Loh

Ramesh Dipendra Jeremiah Law

Tay & Partners  

Wong Beh & Toh

Zul Rafique & Partners

 

PHILIPPINES

TIER 1

TIER 2

NOTABLE FIRMS

ACCRALAW

Picazo Buyco Tan Fider & Santos

Quisumbing Torres (member firm of Baker McKenzie)

Romulo Mabanta Buenaventura Sayoc & De Los Angeles

SyCip Salazar Hernandez & Gatmaitan

Villaraza & Angangco (V&A Law)

Castillo Laman Tan Pantaleon & San Jose

Cruz Marcelo & Tenefrancia

Gatmaytan Yap Patacsil Gutierrez & Protacio (C&G Law) 

Martinez Vergara Gonzalez & Sociedad

PJS Law

DivinaLaw

Gorriceta, Africa, Cauton & Saavedra 

Gulapa & Lim (Gulapa Law) 

Insights Philippines Legal Advisors (a member firm of KPMG Law network)   

Kua Sy & Yeung Law Offices (SKY Law)  

Platon Martinez Flores San Pedro & Leaño

Quiason Makalintal

Sarmiento Loriega Law Firm

Serrano Law

Siguion Reyna, Montecillo & Ongsiako

 

SINGAPORE DOMESTIC

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

Allen & Gledhill

Morgan Lewis Stamford

Rajah & Tann Singapore

WongPartnership

Drew & Napier

TSMP Law Corporation

Baker McKenzie Wong & Leow

Bird & Bird ATMD

CNPLaw

Dentons Rodyk

Duane Morris & Selvam

Harry Elias Partnership

RHTLaw

Shook Lin & Bok

Asia Practice

Atlas Asia Law Corporation

Avant Law

Bih Li & Lee

CHP Law

Eng & Co  

JurisAsia

Oon & Bazul 

Prolegis

Quahe Woo & Palmer

RPC Premier Law

Rubicon Law

Virtus Law (Member of the Stephenson Harwood (Singapore) Alliance)

Withers KhattarWong

 

SINGAPORE INTERNATIONAL

TIER 1

TIER 2

TIER 3

NOTABLE FIRMS

A&O Shearman 

Clifford Chance

Freshfields Bruckhaus Deringer

Latham & Watkins

Linklaters

Milbank

Herbert Smith Freehills

Hogan Lovells Lee & Lee

Jones Day

Morrison & Foerster

Norton Rose Fulbright

Skadden, Arps, Slate, Meagher & Flom

White & Case

Ashurst 

Dechert

DLA Piper

Gibson, Dunn & Crutcher  

HFW

K&L Gates Straits Law

King & Spalding

King & Wood Mallesons

Pinsent Masons MPillay

Sidley Austin

Stephenson Harwood (Member of the Stephenson Harwood (Singapore) Alliance) 

Bryan Cave Leighton Paisner

Clyde & Co

CMS Cameron McKenna Nabarro Olswang (Singapore)

Eversheds Sutherland

LNT & Partners 

Mayer Brown PK Wong & Nair

Nishimura & Asahi-Bayfront Law Alliance

Reed Smith 

Ropes & Gray

 

SOUTH KOREA DOMESTIC

TIER 1

TIER 2

Bae, Kim & Lee

Kim & Chang

Lee & Ko

Shin & Kim

Yulchon

Barun Law

DR & AJU 

Jipyong

KL Partners

LAB Partners

SEUM Law  

Yoon & Yang

 

SOUTH KOREA INTERNATIONAL

TIER 1

TIER 2

Cleary Gottlieb Steen & Hamilton

O’Melveny

Paul Hastings

Ropes & Gray

Skadden, Arps, Slate, Meagher & Flom

White & Case 

Ashurst

Baker McKenzie

DLA Piper

 Latham & Watkins

Milbank

Sheppard, Mullin, Richter & Hampton

Simpson Thacher & Barlett

White & Case

 

TAIWAN

TIER 1

TIER 2

TIER 3

Baker McKenzie 

Jones Day

Lee and Li, Attorneys-at-Law

Tsar & Tsai Law Firm

Chen & Lin

Eiger Law 

Formosa Transnational Attorneys at Law

K&L Gates  

LCS & Partners

Lexcel Partners

Lin & Partners Attorneys-At-Law

Winkler Partners

Dacheng Law Offices

DTT Attorneys-At-Law

Formosan Brothers Attorneys at Law

Guo Ju Law Firm

 Innovatus Law

Lee, Tsai & Partners

Liang & Partners

Nishimura & Asahi

PricewaterhouseCoopers Legal, Taiwan

Russin & Vecchi (International Legal Counsellors)

 

THAILAND

TIER 1

TIER 2

NOTABLE FIRMS

A&O Shearman

Baker McKenzie

Linklaters (Thailand)

Weerawong, Chinnavat & Partners

Chandler MHM

DLA Piper

Hunton Andrews Kurth

Siam Premier International Law Office

Thanathip & Partners

Tilleke & Gibbins

TTT+Partners

Axis Consultants (Thailand)

Blumenthal Richter & Sumet

DFDL

ILAWASIA

ILCT

KPMG Law Thailand

Kudun & Partners 

LawPlus

Norton Rose Fulbright

Rajah & Tann(Thailand) 

SCL Nishimura & Asahi 

Silk Legal

SRPP

The Capital Law Office

Watson Farley & Williams

 

VIETNAM

TIER 1

TIER 2

NOTABLE FIRMS

A & O Shearman 

Allens

Baker McKenzie

Frasers Law Company

Freshfields Bruckhaus Deringer

VILAF

YKVN

DFDL 

Duane Morris Vietnam

Hogan Lovells

LNT & Partners

Mayer Brown

Nishimura & Asahi

Rajah Tann LCT Lawyers

Tilleke & Gibbins

Vision & Associates

ACSV Legal

Allen & Gledhill 

Apolat legal law firm

ATS Lawyers

Bizconsult Law Firm

Bizlink Lawyers

Dilinh Legal

DIMAC

Dentons LuatViet

Global Vietnam Lawyers

Indochine Counsel

KPMG Law

Lee & Ko

Lexcomm Vietnam

MHM Vietnam