asian legal business january 2015

JANUARY 2015ASIA EDITION

MICA (P) 055/02/2014Issn 0219 – 6875

KDn PPs 1793/07/2013(025520)

K O R E A L A W A W A R D S 2 0 1 4 : N O S T O P P I N G K I M & C H A N G

Q&A: DAVID RIVKINThe new IBA president on his role and plans

PAGE 30

CSR LISTThe legal sector embraces doing good

PAGE 20

MIDEAST RETURNUAE’s recovery spells good news for lawyers

PAGE 24

INSIDE

n APPOINTMENTS

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6

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n BIG STORY

n DEALS

n LAW FIRM NEWS

LAW FIRMS GEAR UP FOR AN EVENTFUL YEAR

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WHY YOU SHOULD ATTEND• EnjoyunmatchedaccesstocolleaguesandleadersfromeveryfacetoftheASEANEconomicCommunity• Explorenewpartnershipopportunitieswithinstitutionaldecisionmakersintheregion’sprivateandgovernmentinstitutions• Discoverbestpractices,data-driveninsightsandtrendsincross-borderopportunitiesandinvestmentsinbusiness,trade,andinfrastructure• GainkeyknowledgeonseizingvastopportunitiesinaregionaleconomygrowingasfastasChinaandwillbeasbigasGermany’sby2018• Benefitfromtheexpertiseofsomeoftheregion’sleadingauthoritiesinmitigatingthelegalrisksofprotectionism• Discoverkeyconcepts,innovations,andsolutionsvitaltocopingwiththekeychallengesofintegrationKEY TOPIC HIGHLIGHTS• ReceiveacriticalanalysisoftheASEANGovernanceandcomparativeanalysisofinternationalandregionalorganizations• Getupdatedonrecentlegalandregulatorydevelopmentsintheregionandhowtheyaffectyou• UnderstandtheimpactonbusinessoperationsacrossASEAN• Negatetherisksfromchangingregulationsintaxation,trade,intellectualproperty,ande-commerce.• LearnaboutoptimaldisputesettlementoptionsinanintegratedASEAN• Prevailoverpublic-privatepartnershipchallenges:Howtoacceleratethenecessaryprivateinvestmentintheregion

ASEAN Integration is set to transform theASEAN region,by creatinga tradingblocdesigned tohelpAsia competeacrossallglobalmarkets.TheASEAN Economic Community (AEC) blueprintwillestablishasinglemarketdesignedtoacceleratetheregion’sglobaltradecompetitiveness,easefreemovementofhumancapital,enhanceinvolvementofprivatesectorsintheregion’seconomicgrowthandincreaseconnectivityanddevelopinfrastructure.

However,withopportunityalsocomesignificantchallenges,andcompaniesacrosstheregionwillhavetoadapttothenewsystem–withnewlocalandregionallegislationtotakeintoaccount,andchangesrequiredacrossallaspectsofdoingbusinessintheregion.ALB’sinauguralASEAN Integration Summit 2015 will bring together the region’s key government and private sector leaders to forge partnerships and devise solutions on the legal,regulatory,andbusinesschallengesoftheAEC.

ONLINELEGALRECRUITMENTSPONSOR ALBSUPPORTS PRESENTEDBYMEDIAPARTNER

ASEAN INTEGRATIONSUMMIT DATE:MARCH26,2015

LOCATION:SINGAPORE

THE ROAD TOWARDSA GLOBALLY COMPETITIVE

REGIONMARCH 26, 2015 - SINGAPORE

ALANBOLLARDExecutive DirectorAsia Pacific Economic Cooperation Secretariat

CHRISTOPHERSTEPHENSGeneral CounselAsian Development Bank

FRASERTHOMPSONSenior FellowMcKinsey Global Institute

PUSHPANATHANSUNDRAMExecutive ChairmanChina ASEAN Business Association

SIMONTAYChairmanSingapore Institute of International Affairs

CHRISHUMPHREYExecutive DirectorEU-ASEAN Business Council

JAYANTMENONLead Economist, Trade and Regional CooperationAsian Development Bank

IANMCEWINDirector - SingaporeGlobal Economics Group

EFRENLEANOExecutive DirectorPhilippine Board of Investments

REGION’S EXPERT SPEAKERS INCLUDE:

CONTENTS 1WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

BRIEFS— The Big Story— League Tables— Deals Spotlight: North Asia Southeast Asia— Law Firm News— Appointments— Updates

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NEWS

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“RIGHT AFTER THE CRIsIs, WE FELT THE IMPACT On REAL EsTATE AnD CORPORATE/COMMERCIAL TRAnsACTIOns In GEnERAL. THEY VAnIsHED. RECEnTLY, THE COnFIDEnCE In THE ECOnOMY REFLECTs WELL On M&A AnD nEW BUsInEss OPPORTUnITIEs AnD EXPAnsIOn In THE REGIOn THAT Is DRIVEn FROM DUBAI.”Jimmy Haoula, Bin Shabib & Associates

ALB CSR List 2015Asian Legal Business’ inaugural CSR List, apart from spotlighting 10 law firms in Asia doing notable work in that sphere, also highlights how important CSR is becoming to the legal industry in the region. Ranajit Dam reports

The boom is backThe United Arab Emirates has well and truly bounced back from the financial crisis of 2009-2010. Infrastructure construction has returned to full swing, while M&A deals abound, which means more work for law firms both in terms of deals as well as the resulting arbitration and litigation. Ranajit Dam finds out more

Q&A with David Rivkin,IBA presidentDavid Rivkin, the recently appointed president of the International Bar Association (IBA) and a litigation partner at Debevoise & Plimpton, speaks to Kanishk Verghese about his new role, the IBA’s roadmap for the next few years, and key international arbitration-related trends and challenges in Asia.

Indonesia IP: Moving towards the AECEven while the formation of the ASEAN Economic Community slated for late 2015 is gathering speed, Indonesia, ASEAN’s largest economy and most populous country, has been criticised for its weak IP regime and its relatively toothless enforcement efforts. The country is taking major strides to dispel those views by amending its Copyright law, tabling significant changes to its Trademark law

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and ramping up its enforcement activity. Kanishk Verghese reports

ALB Japan In-House Legal Summit 2014Nearly 100 in-house counsel and private practitioners attended the annual Japan In-House Legal Summit, held at the Keio Plaza Hotel in Tokyo on Nov. 18, to hear from a range of distinguished speakers on topics and issues affecting both local and international businesses and the legal industry in Japan.

The Hong Kong Business ofIP ForumMore than 2,000 intellectual property buyers and sellers, R&D professionals, lawyers and design and technology practitioners attended the fourth annual Business of IP Asia Forum, held at the Hong Kong Convention and Exhibition Centre on Dec. 4 and 5.

ALB Korea Law Awardswinners revealedKim & Chang emerged the runaway winner of the ALB 2014 Korea Law Awards, scooping up a total of nine awards at the second edition of the annual event.

ALB Korea In-House Legal Summit 2014More than 80 of Korea’s leading corporate counsel attended the ALB Korea In-House Legal Summit this year, held on Nov. 13 at the Lotte Hotel in Seoul, which showcased topics ranging from ant-corruption and investigations to arbitration and dispute resolution (ADR) and the changing role of in-house lawyers.

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FEATURES

COVER STORY

14The year in 2015What will 2015 look like for some of Asia’s largest economies and their legal sectors? Law firms from around the region offer some answers to Ranajit Dam

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EDITORIAL2 ASIAN LEGAL BUSINESSJANUARY 2015

MANAGING DIRECTORKlaus [email protected]

PUBLISHERAmantha [email protected]

MANAGING EDITORRanajit [email protected]

DEPUTY EDITORKanishk [email protected]

JOURNALISTShangjing [email protected]

CONTRIBUTORSChris HortonRaghavendra Verma

COPY EDITORVasundhara [email protected]

SENIOR DESIGNERJohn [email protected]

TRAFFIC / CIRCULATION MANAGERRozidah [email protected]

ACCOUNT MANAGERSYvonne CheungAccount Director (China)(852) 2847 [email protected]

Shyanne ChenAdvertising Sales Manager (Indonesia and Malaysia)(65) 6870 [email protected]

Sardor YangibayevSales Executive (Philippines, Thailand, Vietnam)(65) 6870 [email protected]

Henry ChengAccount Manager (Hong Kong)(852) 2847 [email protected]

DIRECTOR, EVENTSColin [email protected]

CONFERENCE AND MARKETING MANAGERTrang Chu [email protected]

ASIAN LEGAL BUSINESS is available by subscription. Please visit WWW.LEGALBUSINESSONLINE.COM for details.

Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as ALB can accept no responsibility for loss.

MICA (P) 055/02/2014ISSN 0219 – 6875KDN PPS 1793/07/2013(025520)

THOMSON REUTERS18 Science Park Drive Singapore 118229 / T (65) 6775 5088 / F (65) 6333 090010/F, Cityplaza 3, Taikoo Shing, Hong Kong / T (852) 3762 3269 / F (852) 2154 6425www.thomsonreuters.com

ON THE COVER: REUTERs/Pilar Olivares

It may be just a random break in time – indeed, why should Jan. 1 be any different from, say, Aug. 12? – but the new year always feels like a special moment, when we recap the achievements of the year gone by, and look forward to what the next 12 months will bring. For ALB, 2014 showcased some significant landmarks: Apart from a revamp of

the magazine and its content, we introduced a number of new events such as in-house legal summits in Kuala Lumpur and Jakarta, and law awards in Indonesia and Malaysia. ALB also ventured out of its traditional space to publish both an M&A report in the first half of the year, and a Hong Kong IPO handbook towards the end.

The year 2015 brings us even more opportunities to expand and improve our offerings. Starting from the January issue, we will be publishing the magazine as an e-book, so please visit www.legalbusinessonline.com to check that out. The first quarter will also see our inaugural Philippines In-House Legal Summit in Manila our online directory of law firms, not to mention other handbooks across practice areas Of course, most of what we do is guided by the needs of you, our readers, so do not hesitate to keep providing us feedback by emailing the addresses to the left of this page. Happy New Year!

RANAJIT DAMManaging EditorAsian Legal BusinessThomson [email protected]

NEW YEAR,

NEW PLANS

3BRIEFSINSIDE LEAGUE TABLES 4 / DEALS 6 / LAW FIRM NEWS 8 / APPOINTMENTS 12 / UPDATES 13

The Singapore International Arbitra-tion Centre (SIAC) in 1991, the Singa-pore International Mediation Centre (SIMC) in November last year, and

now the Singapore International Commercial Court (SICC) – the third member of Singa-pore’s international disputes trinity – is open for business after the SICC was launched with much fanfare earlier this month. First pro-posed at the Opening of Legal Year 2013, the SICC looks to boost Singapore’s legal services sector as well as promote the use of Singapore law. Intended as a division of the Singapore High Court, it has the existing panel of High Court judges as well as special international jurists. An impressive lineup of 11 international judges is already in place, including Dyson Heydon, former judge of the High Court of Australia; Dominique Hascher, judge of the Supreme Judicial Court of France; and Yasuhei Taniguchi, Professor Emeritus at Kyoto Univer-sity in Japan and a former chairman of the Ap-pellate Body of the World Trade Organisation.

The SICC will take on high-value, com-plex, cross-border commercial cases, either governed by foreign law where the parties involved have agreed to use the new court, or cases transferred from the High Court. In that sense, it was the last piece of the jigsaw that needed to fall into place as Singapore looks to become an international hub for dispute resolution. With commercial activity rocket-ing across Asia, particularly in the ASEAN region, the resulting rise in disputes (not to mention the need for their resolution) will become inevitable; and as Singapore’s Chief Justice Sundaresh Menon put it at the open-ing of the SICC, this will give rise to a need for “institutions able to resolve those disputes swiftly, efficiently and predictably.” The SIAC, after a quiet first decade or two, has seen its stock climb in the past few years; there is no doubt that the SIMC is set for success as well, with the rise in mediation as a form of dispute resolution. Given the growing prominence of Singapore as an economic hub with a seem-

ingly unshakeable reputation for stability and transparency, the portents are equally positive for the SICC.

All this provides a fantastic opportunity for Singapore’s law firms to become truly global. The likes of Rajah & Tann have already started spreading their wings within Asia, but as Sin-gapore law becomes more widely used to re-solve disputes and international commercial disputes make their way to the city state, the country’s law firms will find themselves in-creasingly in demand. The time to raise their game, then, is now. A number of Singapore’s law firms already adhere to some of the high-est international standards in terms of both work done and customer service; it is time for the rest to start shaping up, along with pro-moting themselves better and raising their profile in the international market. The gov-ernment has already done its part to assist the country’s legal sector; now it’s up to Sin-gapore’s law firms to turn that promise into reality.

THE SICC AIMS TO SOLIDIFY SINGAPORE’S POSITION AS AN INTERNATIONAL DISPUTES HUB. AND IT’S UP TO THE COUNTRY’S LAW FIRMS TO CASH INBy RANAJIT DAM

THE BIG STORY

01.2015



Global opportunitiesGlobal opportunitiesGlobal opportunities

REUTERS/Edgar Su

4 briefs ASIAN LEGAL BUSINESSJANUARY 2015

I. LEAGUE TABLE - NORTH ASIA LEGAL AND FINANCIAL RANKINGSNORTH ASIA Announced M&A Legal Rankings - Based on Value NORTH ASIA Announced M&A Financial Rankings - Based on Value

RankValue

(US$mln)No. of Deals

Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1 7,020.1 7 6.7 1 24,303.5 9 23.32 6,149.2 6 5.9 2 21,455.9 7 20.63 5,184.2 1 5.0 3 18,088.4 5 17.44 4,121.4 4 4.0 4 17,608.1 12 16.95 3,665.8 16 3.5 5 16,515.6 9 15.96 3,597.9 1 3.5 6 16,368.2 2 15.77 3,154.5 1 3.0 7 6,519.8 7 6.38 1,755.6 4 1.7 8 6,034.9 7 5.89 1,536.6 4 1.5 9 5,699.0 6 5.510 1,441.0 4 1.4 10 3,154.5 1 3.0

(*tie) Based on Rank Value incl. Net Debt of announced M&A deals (excluding withdrawn M&A) (*tie) Based on Rank Value incl. Net Debt of announced M&A deals (excluding withdrawn M&A)

II. LEAGUE TABLE - LEGALCHINA Announced M&A Legal Rankings HONG KONG Announced M&A Legal Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1 6,149.2 6 7.8 1 1,005.5 2 6.32 5,184.2 1 6.6 2 950.1 1 5.93 1,755.6 4 2.2 3 817.0 2 5.14 1,536.6 3 2.0 4 697.0 1 4.45 1,240.5 1 1.6 5 466.7 1 2.96* 1,201.8 1 1.5 6 104.6 1 0.76* 1,201.8 1 1.5 7 45.5 1 0.36* 1,201.8 1 1.5 8 36.2 1 0.29* 950.1 1 1.2 9 16.2 1 0.19* 950.1 1 1.2 10* - 1 0.0


JAPAN Announced M&A Legal Rankings SOUTH KOREA Announced M&A Legal Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1 3,169.6 3 24.2 1 4,121.4 4 49.22 3,154.5 1 24.1 2 3,665.8 16 43.83 981.0 2 7.5 3* 3,597.9 1 43.04 839.8 10 6.4 3* 3,597.9 1 43.05 480.2 5 3.7 5* 1,201.8 1 14.36 435.5 2 3.3 5* 1,201.8 1 14.37 418.8 2 3.2 5* 1,201.8 1 14.38 318.4 1 2.4 8 510.5 1 6.19 217.7 3 1.7 9 331.4 3 4.010 185.5 1 1.4 10 156.2 3 1.9


II. LEAGUE TABLE - FINANCIALCHINA Announced M&A Financial Rankings HONG KONG Announced M&A Financial Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1 24,303.5 9 30.9 1 3,365.3 6 21.02 18,088.4 5 23.0 2 2,560.0 3 16.03 17,356.4 7 22.1 3 2,559.3 5 16.04 17,053.3 5 21.7 4 1,196.7 3 7.55 16,368.2 2 20.8 5 1,052.3 1 6.66 16,272.1 6 20.7 6 1,016.3 4 6.47 5,699.0 6 7.3 7 992.8 4 6.28 3,299.2 4 4.2 8 950.1 1 5.99 2,560.0 3 3.3 9 902.7 7 5.610 2,545.7 4 3.2 10 864.5 8 5.4


Notes:League tables, quarterly trend, and deal list are based on the nation of either the target, acquiror, target ultimate parent, or acquiror ultimate parent at the time of the transaction. Announced M&A transactions excludes withdrawn deals. Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. North Asia includes China, Hong Kong, Taiwan, South Korea, Japan

Freshfields Bruckhaus Deringer Shin & Kim

Linklaters O'Melveny & MyersKim & Chang JipyongJones Day Kim & Chang

Gram Capital Somerley Ltd

Rothschild

Financial Advisor Financial AdvisorChina International Capital Co Goldman Sachs & Co

Legal Advisor Legal AdvisorSkadden Bae Kim & LeeLatham & Watkins Lee & KoAllen & Overy SkaddenMori Hamada & Matsumoto Gibson Dunn & CrutcherNagashima Ohno & Tsunematsu Paul HastingsHerbert Smith Freehills Debevoise & Plimpton

MERGERS & ACQUISITIONS SNAPSHOT

Anglo Chinese Corp Finance Citi

Somerley Ltd Morgan StanleySouthwest Securities Co Ltd Octal Capital LtdGoldman Sachs & Co Macquarie Group

Morgan Stanley Gram CapitalUBS Bank of America Merrill LynchGreat Wall Securities Co Ltd

Bank of America Merrill Lynch Anglo Chinese Corp Finance

LEAGUE TABLES

ANY NORTH ASIA INVOLVEMENT ANNOUNCED M&A ACTIVITY - QUARTERLY TREND

Herbert Smith Freehills Shearman & Sterling LLPAllens AllBright Law Offices

Debevoise & Plimpton SkaddenPaul Hastings Akin, Gump, Strauss, Hauer & FeldO'Melveny & Myers Anderson Mori & Tomotsune

Tian Yuan Law Firm Freshfields Bruckhaus DeringerDavis Polk & Wardwell WongPartnership LLPSullivan & Cromwell Clifford Chance

Legal Advisor Legal AdvisorFangda Partners Herbert Smith FreehillsHaiwen & Partners Allens

Centerview Partners LLC

Gibson Dunn & Crutcher Great Wall Securities Co LtdLatham & Watkins Goldman Sachs & CoTian Yuan Law Firm Rothschild

Data accurate as of 09-January-2015

Fangda Partners UBS

Legal Advisor Financial AdvisorSkadden China International Capital Co

Haiwen & Partners Bank of America Merrill LynchBae Kim & Lee Morgan StanleyLee & Ko Somerley Ltd

Davis Polk & Wardwell Southwest Securities Co LtdHerbert Smith Freehills

103.6 83.2

127.2 135.8 110.8 114.6 126.2 125.2

95.4 114.4

146.8 134.0

93.7 117.7 128.3

148.7 142.5

202.8

162.1 162.1

0

500

1,000

1,500

2,000

2,500

3,000

40 60 80

100 120 140 160 180 200 220

1Q 10 3Q 10 1Q 11 3Q 11 1Q 12 3Q 12 1Q 13 3Q 13 1Q 14 3Q 14

No. of Transactions Rank

Val

ue U

S$ B

illio

n Series1 Series2

ANY NORTH ASIA INVOLVEMENT ANNOUNCED M&A ACTIVITY - QUARTERLY TREND

NOTES: League tables, quarterly trend, and deal list are based on the nation of either the target, acquiror, target ultimate parent, or acquiror ultimate parent at the time of the transaction. Announced M&A transactions excludes withdrawn deals. Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. North Asia includes China, Hong Kong, Taiwan, South Korea, Japan. Data accurate as of 02-December-2014

CHINA ANNOUNCED M&A LEGAL RANKINGS

(*tie) Based on Rank Value including Net Debt of announced M&A deals (excluding withdrawn M&A)

JAPAN ANNOUNCED M&A LEGAL RANKINGS


RANK LEGAL ADVISORVALUE($MLN)

DEALSMARKET SHARE

2 Haiwen & Partners 5,184.2 1 6.6

3 Tian Yuan Law Firm 1,755.6 4 2.2

4 Davis Polk & Wardwell 1,536.6 3 2.0

5 Sullivan & Cromwell 1,240.5 1 1.6

6* Debevoise & Plimpton 1,201.8 1 1.5

6* Paul Hastings 1,201.8 1 1.5

6* O’Melveny & Myers 1,201.8 1 1.5

9* Herbert Smith Freehills 950.1 1 1.2

9* Allens 950.1 1 1.2

DEALS: 6 MARKET SHARE: 7.8

VALUE($mln)

HONG KONG ANNOUNCED M&A LEGAL RANKINGS


SOUTH KOREA ANNOUNCED M&A LEGAL RANKINGS


RANK LEGAL ADVISOR VALUE($MLN) DEALS MARKET

SHARE

2 Lee & Ko 3,665.8 16 43.8

3* Skadden 3,597.9 1 43.0

3* Gibson Dunn & Crutcher 3,597.9 1 43.0

5* Paul Hastings 1,201.8 1 14.3

5* Debevoise & Plimpton 1,201.8 1 14.3

5* O’Melveny & Myers 1,201.8 1 14.3

8 Jipyong 510.5 1 6.1

9 Kim & Chang 331.4 3 4.0

10 Shin & Kim 156.2 3 1.9


DEALSMARKET SHARE

2 Allens 950.1 1 5.9

3 Freshfields Bruckhaus Deringer 817.0 2 5.1

4 WongPartnership LLP 697.0 1 4.4

5 Clifford Chance 466.7 1 2.9

6 Skadden 104.6 1 0.7

7 Akin, Gump, Strauss, Hauer & Feld 45.5 1 0.3

8 Anderson Mori & Tomotsune 36.2 1 0.2

9 Shearman & Sterling LLP 16.2 1 0.1

10* AllBright Law Offices - 1 0.0

BAE KIM & LEE


VALUE($mln)

NORTH ASIA LEAGUE TABLES


VALUE($mln)


SHARE

2 Latham & Watkins 3,154.5 1 24.1

3 Allen & Overy 981.0 2 7.5

4 Mori Hamada & Matsumoto 839.8 10 6.4

5 Nagashima Ohno & Tsunematsu 480.2 5 3.7

6 Herbert Smith Freehills 435.5 2 3.3

7 Linklaters 418.8 2 3.2

8 Kim & Chang 318.4 1 2.4

9 Jones Day 217.7 3 1.7

10 Freshfields Bruckhaus Deringer 185.5 1 1.4

SKADDEN


VALUE($mln)

FANGDA PARTNERS HERBERT SMITH FREEHILLS

5briefsWWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

MIDDLE EAST ANNOUNCED M&A LEGAL RANKINGS

I. LEAGUE TABLE - SOUTHEAST ASIA AND MIDDLE EAST SOUTHEAST ASIA / SOUTH ASIA Announced M&A Legal Rankings MIDDLE EAST Announced M&A Legal Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1* 8,100.0 1 44.0 1 1,800.0 1 39.71* 8,100.0 2 44.0 2 579.8 1 12.81* 8,100.0 1 44.0 3* 265.0 1 5.91* 8,100.0 2 44.0 3* 265.0 1 5.95 1,589.7 2 8.6 5 263.4 2 5.86 1,347.4 2 7.3 6 250.0 1 5.57 1,300.0 1 7.1 7 16.4 1 0.48 700.0 1 3.8 8* 10.0 1 0.29 329.7 2 1.8 8* 10.0 1 0.210 143.6 4 0.8 10* 0.0 1 0.0


II. LEAGUE TABLE - LEGALSINGAPORE Announced M&A Legal Rankings MALAYSIA Announced M&A Legal Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1* 8,100.0 1 61.2 1 0.0 1 0.01* 8,100.0 2 61.2 0 0.0 0 0.01* 8,100.0 2 61.2 - 0.0 1 0.01* 8,100.0 1 61.2 - 1,647.9 82 100.05 1,347.4 2 10.2 0 0.0 0 0.06 1,300.0 1 9.8 - 1,647.9 83 100.07 700.0 1 5.3 0 0.0 0 0.08 329.7 2 2.5 0 0.0 0 0.09 106.1 1 0.8 0 0.0 0 0.010 79.7 1 0.6 0 0.0 0 0.0


INDIA Announced M&A Legal Rankings INDONESIA Announced M&A Legal Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1 143.6 4 12.7 - - - -2 110.8 2 9.8 0 0.0 0 0.03 44.9 1 4.0 - 0.0 0 0.04* 0.0 1 0.0 - 478.5 19 100.04* 0.0 1 0.0 0 0.0 0 0.04* 0.0 1 0.0 - 478.5 19 100.04* 0.0 1 0.0 0 0.0 0 0.04* 0.0 1 0.0 0 0.0 0 0.04* 0.0 2 0.0 0 0.0 0 0.00 0.0 0 0.0 0 0.0 0 0.0


II. LEAGUE TABLE - FINANCIALSOUTHEAST ASIA / SOUTH ASIA Announced M&A Financial Rankings MIDDLE EAST Announced M&A Financial Rankings

RankValue


Market Share Rank

Value (US$mln)

No. of Deals

Market Share

1* 8,100.0 1 44.0 1 265.0 1 5.91* 8,100.0 1 44.0 2* 250.0 2 5.51* 8,100.0 1 44.0 2* 250.0 2 5.51* 8,100.0 1 44.0 4 242.5 1 5.45 2,314.7 2 12.6 5 157.1 1 3.56 1,770.0 3 9.6 6* 20.9 1 0.57 1,510.0 2 8.2 6* 20.9 1 0.58* 1,300.0 1 7.1 8 16.4 1 0.48* 1,300.0 2 7.1 0 0.0 0 0.010 420.0 1 2.3 - 951.9 8 21.0


Notes:

Barclays Ernst & Young LLP

League tables, quarterly trend, and deal list are based on the nation of either the target, acquiror, target ultimate parent, or acquiror ultimate parent at the time of the transaction. Announced M&A transactions excludes withdrawn deals. Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. Geographic coverage includes SOUTH EAST ASIA: Singapore, Malaysia, Philippines, Thailand, Vietnam, Brunei, Cambodia, Indonesia, Laos, Myanmar, Timor-Leste; SOUTH ASIA: India, Afganistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka; MIDDLE EAST: United Arab Emirates, Saudi Arabia, Qatar, Jordan, Palestine, Bahrain, Iran, Iraq, Israel, Kuwait, Lebanon, Oman, Syria, Yemen

0 0

Stirling Coleman Capital Ltd Subtotal with Financial Advisor

DRT Kurumsal Finansman

Financial Advisor Financial AdvisorWells Fargo & Co China International Capital Co

Giovannelli & Associati Studio Legale 0PH Bathiya & Associates (*):tie Khaitan & Co 0

Legal Advisor Legal AdvisorJ Sagar Associates -Majmudar & Partners 0CMS Subtotal with Legal AdvisorSills Cummis Epstein & Gross Subtotal without Legal AdvisorAZB & Partners 0Trilegal Industry Total

MERGERS & ACQUISITIONS SNAPSHOT

JP Morgan 0

Morgan Stanley Network Corporate FinanceRothschild Blackstone Group LPBank of America Merrill Lynch Java Capital (Proprietary) Ltd

RBC Capital Markets RothschildCiti HSBC Holdings PLCUBS

LEAGUE TABLES

ANY SOUTHEAST ASIA / SOUTH ASIA & MIDDLE EAST INVOLVEMENT ANNOUNCED M&A ACTIVITY - QUARTERLY TREND

Rajah & Tann LLP 0Allen & Overy 0

McDermott Will & Emery Industry TotalFangda Partners 0Herbert Smith Freehills (*):tie

Simpson Thacher & Bartlett Subtotal with Legal AdvisorMorrison & Foerster Subtotal without Legal Advisor

J Sagar Associates

WongPartnership LLP 0

Legal Advisor Legal AdvisorAllen & Gledhill Jones DaySkadden 0

Skadden Linklaters

Legal Advisor Legal AdvisorAllen & Gledhill Shearman & Sterling LLP

Morrison & Foerster Fangda PartnersSimpson Thacher & Bartlett Simpson Thacher & BartlettAllen & Overy Clifford Chance

Freshfields Bruckhaus Deringer

WongPartnership LLP Latham & WatkinsMcDermott Will & Emery Cliffe DekkerFangda Partners Accura AdvokataktieselskabHerbert Smith Freehills Yigal Arnon & Co

57.3

45.5 47.6

71.8 64.8

53.8

36.8 34.1

47.4 42.1

49.0

63.0

25.3

53.1

35.8 45.4 44.7

65.4

42.5

0 200 400 600 800 1,000 1,200 1,400 1,600

10 20 30 40 50 60 70 80

1Q 10 3Q 10 1Q 11 3Q 11 1Q 12 3Q 12 1Q 13 3Q 13 1Q 14 3Q 14

No. of Transactions Ra

nk V

alue

US$

Bill

ion

Series1 Series2

ANY SOUTHEAST ASIA / SOUTH ASIA & MIDDLE EAST INVOLVEMENT ANNOUNCED M&A ACTIVITY - QUARTERLY TREND

NOTES: League tables, quarterly trend, and deal list are based on the nation of either the target, acquiror, target ultimate parent, or acquiror ultimate parent at the time of the transaction. Announced M&A transactions excludes withdrawn deals. Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. Geographic coverage includes SOUTH EAST ASIA: Singapore, Malaysia, Philippines, Thailand, Vietnam, Brunei, Cambodia, Indonesia, Laos, Myanmar, Timor-Leste; SOUTH ASIA: India, Afganistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka; MIDDLE EAST: United Arab Emirates, Saudi Arabia, Qatar, Jordan, Palestine, Bahrain, Iran, Iraq, Israel, Kuwait, Lebanon, Oman, Syria, Yemen. Data accurate as of 02-December-2014

SOUTHEAST ASIA/ SOUTH ASIAANNOUNCED M&A LEGAL RANKINGSSINGAPORE ANNOUNCED M&A LEGAL RANKINGS

(*tie) Based on Rank Value including Net Debt of announced M&A deals (excluding withdrawn M&A) (*tie) Based on Rank Value including Net Debt of announced M&A deals (excluding withdrawn M&A)(*tie) Based on Rank Value including Net Debt of announced M&A deals (excluding withdrawn M&A)


DEALSMARKET SHARE

5 WongPartnership LLP 1,347.4 2 10.2

6 McDermott Will & Emery 1,300.0 1 9.8

7 Fangda Partners 700.0 1 5.3


9 Rajah & Tann LLP 106.1 1 0.8

10 Allen & Overy 79.7 1 0.6

INDIA ANNOUNCED M&A LEGAL RANKINGSINDIA ANNOUNCED M&A LEGAL RANKINGS



SHARE

2 Majmudar & Partners 110.8 2 9.8

3 CMS 44.9 1 4.0

4* Sills Cummis Epstein & Gross 0.0 1 0.0

4* AZB & Partners 0.0 1 0.0

4* Trilegal 0.0 1 0.0

4* Giovannelli & Associati Studio Legale 0.0 1 0.0

4* PH Bathiya & Associates 0.0 1 0.0

4* Khaitan & Co 0.0 2 0.0


SOUTHEAST ASIA LEAGUE TABLES


SHARE

2 Linklaters 579.8 1 12.8

3* Fangda Partners 265.0 1 5.9

3* Simpson Thacher & Bartlett 265.0 1 5.9

5 Clifford Chance 263.4 2 5.8

6 Latham & Watkins 250.0 1 5.5

7 Cliffe Dekker 16.4 1 0.4

8* Accura Advokataktieselskab 10.0 1 0.2

8* Yigal Arnon & Co 10.0 1 0.2

10* Freshfields Bruckhaus Deringer 0.0 1 0.0

SHEARMAN & STERLING LLP


VALUE($mln)

ALLEN & GLEDHILL*;SKADDEN*;SIMPSON THACHER & BARTLETT*;MORRISON & FOERSTER*

DEALS: 1 or 2 MARKET SHARE: 61.2

VALUE($mln)

J SAGAR ASSOCIATES


VALUE($mln)


DEALSMARKET SHARE

5 Allen & Overy 1,589.7 2 8.6

6 WongPartnership LLP 1,347.4 2 7.3

7 McDermott Will & Emery 1,300.0 1 7.1

8 Fangda Partners 700.0 1 3.8


10 J Sagar Associates 143.6 4 0.8

ALLEN & GLEDHILL*;SKADDEN*;MORRISON & FOERSTER*SIMPSON THACHER & BARTLETT*

DEALS: 1 or 2 MARKET SHARE: 44.0

VALUE($mln)


DEAL NAME FIRM JURISDICTION VALUE(US$ MLN) DEAL TYPE

Haitong Securities’acquisition ofBanco Espírito Santode Investimento

Clifford Chance China, Portugal 467 M&A

Garrigues China, Portugal 467 M&A

Linklaters China, Portugal 467 M&A

Dalian WandaCommercial Properties’listing on the HKEx

Freshfields Bruckhaus Deringer Hong Kong, China 3,700 IPO

Reed Smith Richards Butler Hong Kong, China 3,700 IPO

King & Wood Mallesons Hong Kong, China 3,700 IPO

Tian Yuan Law Firm Hong Kong, China 3,700 IPO

Alibaba Group’sbond sale

Simpson Thacher & Bartlett Hong Kong, China 8,000 Debt

Sullivan & Cromwell Hong Kong, China 8,000 Debt

Ping An InsuranceGroup’s issuance ofH shares on the HKEx

DLA Piper Hong Kong 4,750 Equity

Paul Hastings Hong Kong 4,750 Equity

Hanwha SolarOne’sacquisition ofHanwha Q CELLSInvestment

Debevoise & Plimpton Korea, EU 1,200 M&A

O’Melveny & Myers Korea, EU 1,200 M&A

Paul Hastings Korea, EU 1,200 M&A

Maples and Calder Korea, EU 1,200 M&A

Sunshine InsuranceGroup’s acquisition ofSydney’s Sheraton onthe Park hotel

Allen & Overy China, Australia 400 M&A

Baker & McKenzie China, Australia 400 M&A

Dacheng Law Offices China, Australia 400 M&A

JD.com’s secondaryoffering of 26 millionAmerican DepositaryShares

Davis Polk & Wardwell China, U.S. 619 Equity

Skadden, Arps, Slate, Meagher & Flom China, U.S. 619 Equity

Jun He Law Offices China, U.S. 619 Equity

Zhong Lun Law Firm China, U.S. 619 Equity

Maples and Calder China, U.S. 619 Equity

BAIC Motor Corp’s Hong Kong IPO

Clifford Chance Hong Kong, China 1,420 IPO

Norton Rose Fulbright Hong Kong, China 1,420 IPO

Dacheng Law Offices Hong Kong, China 1,420 IPO

Jia Yuan Law Offices Hong Kong, China 1,420 IPO

NORTH ASIA DEALS: YOUR MONTH AT A GLANCE

$1.42 BILLIONIPOBAIC MOTOR CORP’S HONG KONG IPO• Thecompanyplanstouse60

percent of the IPO proceeds to help fund the expansion of its vehicle production line and an engine factory, with an additional 15 percent set aside to pay down bank loans and 10 percent to develop new vehicles.

$467 MILLIONM&AHAITONG SECURITIES’ ACQUISITION OF BANCO ESPÍRITO SANTO DE INVESTIMENTO• NovoBanco,thebankcarvedout

of Portugal’s Banco Espírito Santo (BES) after it was rescued, has agreed to sell investment banking unit BESI to Haitong Securities.

• NovoBanco,whichhadtoberescued in August after it crumbled under the weight of debts built up by the bankrupt Espírito Santo family.

• Portugal’sauthoritiesarehopingto sell Novo Banco in the first half of 2015. The sale still depends on approval by the Bank of Portugal, the European Commission and other authorities.

$1.2 BILLIONM&AHANWHA SOLARONE’S ACQUISITION OF HANWHA Q CELLS INVESTMENT• SouthKorea-basedHanwha

Holdings said the deal would create a combined company with an enterprise value of about $2 billion.

• Underthedeal,HanwhaSolarOnewill issue about 3.7 billion shares to Hanwha Solar Holdings. Hanwha Solar Holdings’ stake in Hanwha SolarOne will rise to about 94 percent after the transaction from about 45.7 percent currently.


DEAL NAME FIRM JURISDICTION VALUE(US$ MLN) DEAL TYPE

Vietnamesegovernment’s sovereignbond issuance

Allen & Overy Vietnam 1,000 Debt

Clifford Chance Vietnam 1,000 Debt

YKVN Lawyers Vietnam 1,000 Debt

Thai UnionFrozen Products’acquisition ofBumble Bee Seafoods

Allen & Overy Thailand, U.S. 1,510 M&A

Sullivan & Cromwell Thailand, U.S. 1,510 M&A

Olacabs’ fundraisingfrom SoftBank Internetand Media and otherexisting investors

Morrison & Foerster India, Japan 210 Investment

AZB & Partners India, Japan 210 Investment

Indus Law India, Japan 210 Investment

Kotak MahindraBank’s acquisition ofING Vysya

Amarchand & Mangaldas & Suresh A. Shroff & Co

India 2,400 M&A

AZB & Partners India 2,400 M&A

Nirvana Asia’sHong Kong IPO

Hogan Lovells Hong Kong, Malaysia, Indonesia, Singapore 260 IPO

Sullivan & Cromwell Hong Kong, Malaysia, Indonesia, Singapore 260 IPO

Baker & McKenzie.Wong & Leow

Hong Kong, Malaysia, Indonesia, Singapore 260 IPO

Hadiputranto, Hadinoto & Partners


Mah-Kamariyah & Philip Koh


Timblick & Partners Hong Kong, Malaysia, Indonesia, Singapore 260 IPO

Wong & Partners Hong Kong, Malaysia, Indonesia, Singapore 260 IPO

Harney Westwood & Riegels


GIC’s acquisition ofBlackstone Group’sIndCor Properties

Simpson Thacher & Bartlett Singapore, U.S. 8,100 M&A

Skadden, Arps, Slate, Meagher & Flom Singapore, U.S. 8,100 M&A

CitySpring Infrastructure Trust’s acquisition of Keppel Infrastructure Trust

Allen & Gledhill Singapore 390 M&A

WongPartnership Singapore 390 M&A

SoftBank Corp’s investment in Singapore-based GrabTaxi Holdings

Cooley Singapore, Japan 250 Investment

Herbert Smith Freehills Singapore, Japan 250 Investment

Lee & Lee Singapore, Japan 250 Investment

SOUTHEAST ASIA DEALS: YOUR MONTH AT A GLANCE

$8.1 BILLIONM&AGIC’S ACQUISITION OF BLACKSTONE GROUP’S INDCOR PROPERTIES• Asaresultofthedeal,IndCorwill

no longer be pursuing an initial public offering, Blackstone said in a statement.

• IndCorwasformedin2010asaportfolio company of Blackstone and has a footprint of warehouses and distribution centres across the United States.

• GIChassteppedupitsrealestatepurchases in recent months, buying office buildings in Tokyo and investing in Australian student accommodation as a way to diversify its portfolio and secure better yields.

$1.51 BILLIONM&ATHAI UNION FROZEN PRODUCTS’ ACQUISITION OF BUMBLE BEE SEAFOODS• ThepurchasewillgiveThaiUnion

control of some of North America’s best-known seafood lines, including two of the three biggest canned tuna brands in the United States.

$2.4 BILLIONM&AKOTAK MAHINDRA BANK’S ACQUISITION OF ING VYSYA• ThecombinationofKotakMahindra

and ING Vysya will create India’s fourth-largest private sector bank by branch network.

• Thecombinedbankingentitywill have 1,214 branches with a widespread network across the country, the two banks said in a statement.

• DutchlenderINGGroepN.V.ownsabout a 43 percent stake in ING Vysya. It will be the second-largest shareholder in Kotak Mahindra after the deal – the largest in the Indian banking sector to date – with a holding of about 7 percent.


South Korea indicts Uber CEO, local unit for transport law breach

LAW FIRM NEWS

South Korea has indicted the chief executive officer and local subsid-iary of Uber Technologies Inc for violating a law governing public

transport, becoming the latest jurisdiction to challenge the U.S. taxi service provider.

The Seoul Central District Prosecutors’ Office issued the indictment against CEO Travis Kalanick and the firm’s Korean unit for violating a law prohibiting individuals or firms without appropriate licences from pro-viding or facilitating transportation services, an Uber spokeswoman said.

The prosecutors’ office declined to com-ment.

“Uber Technologies respects the Korean legal system and will provide its full coopera-tion,” the company said in a statement with-out detailing the charges brought against it.

Uber, through its apps, charges fees to play matchmaker for passengers and drivers - some registered as taxi drivers. But a lack of regulation for the relatively new business model has brought Uber to the attention of authorities worldwide.

Taiwan and the Chinese mainland city of Chongqing separately said they were inves-tigating Uber over concerns it and its drivers were not appropriately licensed.

Last month, Seoul’s city legislature passed a measure to fine Uber drivers not registered as taxi drivers, and offer financial reward for those reporting such individuals.

The decision came after the city govern-ment repeatedly said Uber was engaged in illegal business activities, an accusation the company denied.

“We firmly believe that our service, which connects drivers and riders via an applica-tion, is not only legal in Korea, but that it is being welcomed and supported by consum-ers,” Uber said in its statement.

Prosecutors will not make any arrests under the indictment, according to a report by South Korea’s Yonhap News Agency. The penalty for breaking the law in question is a prison sentence of up to two years or a maxi-mum fine of 20 million won ($18,121).

Uber’s spokeswoman said Uber services are functioning as normal.

Kennedys beefs up China strength with AnJie tie-up

UK-based law firm Kennedys has boosted its China practice by en-tering into a cooperation agree-ment with China’s AnJie Law Firm.

The agreement furthers both law firms’ strategies to tap into each other’s markets. Under the terms of the agreement, AnJie’s Beijing and Shanghai offices will assist Ken-nedys on various legal matters including insurance disputes, regulatory matters, as well as antitrust competition advice and as-

sistance in China.Kennedys, on its part, will assist the Chi-

nese firm to operate in the UK, Europe, Hong Kong, Singapore, Dubai, Australian, New Zealand and Latin American markets.

“This cooperation progresses a long-term working relationship with AnJie, and marks the beginning of even closer ties for Kenned-ys with the People’s Republic of China,” said Nick Thomas, senior partner at Kennedys, in a statement.

Subhas Anandan, a senior criminal lawyer and a giant of the Singapore Bar, has passed away. He was 67.

Anandan, a founder and senior partner at RHTLaw Taylor Wessing, headed the firm’s litigation and dispute resolution practice. During his career, he handled well over 1,500 criminal cases, ranging from mur-ders and kidnappings to drug trafficking and white-collar crimes.

A founding member and the first presi-dent of the Asso-ciation of Criminal Lawyers in Sin-gapore, Anandan received the Legal Eagle Award for 2001 from the Law Society of Singa-pore.

“Over 44 years of legal practice, Subhas has es-tablished himself as one of the most outstanding crimi-nal lawyers the Singapore Bar has ever had,” said Rajan Menon, senior partner of RHTLaw Taylor Wessing, in a statement. “Subhas was a man of integrity, boundless energy, pas-sion, compassion, generosity and a staunch defender of the rule of law ... On behalf of my partners, management and staff at RHTLaw Taylor Wessing LLP, we are sad to have lost one of our own, but are honoured to have served with this giant of a man who had a heart of gold. Today we grieve the loss of a great man.”

In a news report, Singapore Law and For-eign Minister K. Shanmugam said Anandan’s name was “synonymous with tenaciousness in court, a sharp intellect, and above all, a generous heart.”

Anandan is survived by his wife Vimala and son Sujesh.

Veteran Singapore criminal lawyer Subhas Anandan passes away

REUTERS/Sergio Perez

SUBHAS ANANDAN


JSA sets up shop in Ahmedabad

Indian law firm J. Sagar Associates (JSA) has opened a new office in Ahmedabad in the state of Gujarat. The new office commenced operations from Jan. 1, 2015

and is the firm’s seventh in the country.Bijal Chhatrapati, a senior lawyer with

nearly three decades of experience in dispute resolution, M&A and corporate commercial matters, is heading the Ahmedabad office in the capacity of equity partner. Chhatrapati was previously with Singhi & Co, and is also a solicitor and member of the Bombay Incor-porated Law Society.

JSA’s Chennai office, after a merger with Vichar Partners in March, became functional earlier this year in April.

JSA was founded in 1991 by Jyoti Sagar and presently also has offices in Bengaluru, Chennai, Gurgaon, Hyderabad, Mumbai and New Delhi with a headcount of more than 340 lawyers.

The Chennai office was the previous one opened by the firm after it merged with local law firm Vichar Partners last year.

Asia antitrust watchdogs get tough, dish out record penalties

Antitrust penalties rose to a record in Asia last year as watchdogs got tough on cartels and bid-rigging, emboldened by maturing competi-

tion laws across the region and growing gov-ernment clampdowns on corruption.

Some $1.7 billion in penalties and fines were levied, up 47 percent from 2013, and 45 percent higher than the annual average for the previous five years, data compiled by Norton Rose Fulbright shows.

The jump was largely driven by Japan and South Korea, Asia’s most aggressive antitrust regimes during the past five years, while younger watchdogs in Indonesia, Ma-laysia and China progressively stepped up enforcement activity.

The steady rise in penalties reflects the in-creasing maturity of antitrust regimes in the region, many of which are only a few years old. The preponderance of penalties for bid-rigging, which accounted for 56 percent of the 2014 total value of fines, reflects the way watchdogs are increasingly using competi-

tion law to fight graft, especially for infra-structure projects.

“This is a distinguishing feature of com-petition law enforcement in many Asian countries, where authorities rely on compe-tition law to take action against private and public corruption,” said Marc Waha, a part-ner in the Asia antitrust practice at Norton Rose Fulbright in Hong Kong. “The excep-tion is China, where competition authorities have yet to investigate and sanction bid-rig-ging activity.”

REUTERS/Ints Kalnins

On 28 August 2014 the Shanghai International Aviation Court of Arbitration (“SHIACA”) was established by the execution of a Cooperation Agreement between the China Air Transport Association, the Shanghai International Arbitration Center, and the International Air Transport Association (“IATA”).

The establishment of SHIACA follows the implementation of China’s recent policies for economic reform and the creation of the Shanghai Free Trade Zone. It appears to be a further sign of China’s commitment to developing Shanghai into a truly global city on a par with the likes of Hong Kong, Singapore, London and New York. The Mayor of Shanghai in his inaugural speech expressed his hope for Shanghai to become “the centre of international shipping and air transport”.

Traditionally, disputes involving airlines, aircraft manufacturers, maintenance providers, fuel suppliers and other industry groups have been resolved through litigation in domestic courts (predominantly in London and New York) or ad hoc arbitration. When dealing with Chinese entities, parties to agreements now have a further option in SHIACA. SHIACA is said to be the first specialist civil aviation arbitration institution in the world and is managed by an

Experts Committee, comprising highly qualified individuals with specialised knowledge of the aviation industry.

Although IATA has already developed a set of arbitration rules for its members, arbitration references adopting IATA arbitration rules are frequently conducted on an ad hoc basis. Under Chinese law, arbitration must be institutional and ad hoc arbitration references are not deemed to be valid. As such, despite China being a party to the New York Convention, awards obtained from foreign ad hoc tribunals are not enforceable in China. An exception to this is ad hoc arbitration awards arrived at in Hong Kong.

As China’s aviation industry continues to grow, disputes involving Chinese parties are expected to rise. Such disputes can now be resolved by way of institutional arbitration at SHIACA. By adopting SHIACA procedures, a claimant can ensure that any award obtained from SHIACA will be prima facie enforceable against a Chinese party.

While SHIACA promises a great deal, for the time being it is likely that mainly aviation disputes between Chinese parties will be resolved there. However the wider global aviation community will undoubtedly keep a keen eye on developments.

BIRD & BIRD

CHINA EYES NEW HEIGHTS WITH THE WORLD’S FIRST AVIATION ARBITRATION INSTITUTION

Richard Keady Partner (China and Hong Kong)

A: 4/F Three Pacific Place 1 Queen’s Road East Hong Kong

W: twobirds.com

Leo Fattorini Partner (singapore)


LAW FIRM NEWS

U.S. court ordered to hear petitions against MAS,Boeing by MH370 kin

the firms to turn over data about the missing MAS flight.

“Commencing today, the court will im-pose sanctions on the law firm if there are any other unfounded filings,” Flanagan was quoted saying in the March ruling.

The judge said although seeking informa-tion about an accident before filing a lawsuit is permitted when blame has yet to be ap-

portioned, the procedure “isn’t otherwise permitted.”

Bloomberg also reported the judge as saying that the rules only allow such discov-ery “for the sole purpose of ascertaining the identity of one who may be liable in dam-ages.”

According to Utusan’s report, Kelly said the Illinois Appeals Court’s decision on the matter was made on Nov. 26 last year.

“The decision was announced yesterday,” Kelly was quoted saying.

The lawyer added that the Appeals Court also ruled that the Cook County Circuit judge had no power to reject or allow petitions without putting them to trial first.

MAS Flight MH370 carrying 239 people had vanished from radar on March 8 after taking off from Kuala Lumpur to Beijing.

On March 24, Prime Minister Datuk Seri Najib Razak confirmed that the still-missing jetliner “ended” its journey in the southern Indian Ocean, a location he described as re-mote and far from any possible landing site.

Utusan Malaysia also quoted Kelly say-ing that the firm has also been approached by family members of victims onboard Indo-nesia AirAsia’s QZ8501 to represent them in another similar lawsuit.

“Our law firm will be filing for a petition of discovery in representing the families of vic-tims of QZ8501 soonest, after our investiga-tors vet through the available information at hand,” Kelly reportedly said.

Families of the still-missing Malaysia Airlines (MAS) Flight MH370 will finally get their day in court after the Illinois Appeals Court ordered a

lower court to hear their petitions against the airline and aircraft manufacturer Boeing Co.

The newspaper Utusan Malaysia reported that Ribbeck Law Chartered, the law firm representing the aggrieved families, finally succeeded in its twin bids for court orders to force both MAS and Boeing to turn over data and documents on MH370 for a pos-sible lawsuit.

Quoting lawyer Monica Kelly, the report said that the Illinois Appeals Court found that the Cook County Circuit Court had erred in its judgment when it threw out the firm’s bid last year even without allowing the peti-tions to be heard in trial.

“This is a very meaningful win for the fam-ily members of the victims onboard MH370. We believe that they reserve every right to have the case tried in the court in Illinois,” said Kelly, Ribbeck’s head of Global Aviation Litigation.

Kelly added that it came as a “shock” when the families’ petitions were struck out by the court before it went to trial on March 31 last year.

According to a Bloomberg report on the case last year, Cook County Circuit Judge Kathy Flanagan threw out the petitions and threatened to punish the lawyers if they at-tempted to use such a tactic again to force

Familiar alliance for Stephenson Harwood in Guangzhou

Stephenson Harwood has entered into a strategic alliance arrange-ment with Wei Tu, a Guangzhou-based law firm, shortly after it

closed its base in the southern Chinese city in September last year.

Wei Tu has been founded by Xiaoming Lu, a former partner with Stephenson Harwood in Guangzhou, and he will head the new of-fice.

Stephenson Harwood currently has three offices across the Greater China region,

namely in Beijing, Shanghai and Hong Kong. Its Guangzhou office was set up in 1994, but was closed this year due to “changing busi-ness conditions,” according to the firm.

”I am very pleased to announce this alli-ance with Wei Tu,” said Voon Keat Lai, Ste-phenson Harwood’s managing partner for Greater China, in a statement. “We are see-ing increasing demand from our clients for expertise in PRC law and an alliance with a firm we trust enables us to provide our cli-ents with a consistent approach.” REUTERS/Alex Lee

REUTERS/Edgar Su


A Singapore court has filed bribery charges against a former executive at Singapore Technologies Engi-neering Ltd, one of Asia’s largest

defence and engineering groups.See Leong Teck, a former president of the

company’s marine unit ST Marine, was the fourth former employee of the company to be charged with corruption last month. He was president from December 1997 to February 2008, ST Engineering said in a statement.

See was allegedly involved in bribing agents for Hyundai Engineering and Con-

struction Ltd and Myanma Five Star Line between 2004 and 2007 to win ship repair contracts, according to the chargesheet seen by Reuters.

Asked about the charges, a spokesman for Hyundai Engineering said: “There is no connection with the company and the inci-dents.”

Myanma Five Star Line, a shipping com-pany based in Yangon, did not respond to Reuters’ request for comments.

Singapore court charges former ST Engineering exec with bribery

Abu Dhabi financial centre to base rules on English common law

REUTERS/Steve Crisp

Abu Dhabi’s new financial free zone plans to base its rules on English common law, in a decision that could reduce costs and help the

emirate develop stronger banking and secu-rities market ties with neighbouring Dubai.

The Abu Dhabi Global Market (ADGM) is to be launched this year as the emirate diver-sifies its economy beyond oil and gas, while expanding its footprint in the Gulf’s competi-tive financial services industry.

The ADGM will have its own administra-tion, court system and tax incentives to at-tract banks and companies from around the world. Earlier this month, it published draft legislation covering its operations and asked for public comment by Feb. 5.

Its decision to use English common law, instead of the French and German civil law schools that dominate most of the Middle East, means it will have a legal framework similar to the existing Dubai International Fi-nancial Centre (DIFC), which is also based on the British tradition.

That looks likely to facilitate ties between the ADGM and the DIFC, allowing the large community of bankers and lawyers that has developed in Dubai over the past decade to engage more easily with Abu Dhabi, and thus curb costs.

“[The] ADGM has decided to legislate for English common law to apply in, and form part of the law of the Global Market,” ADGM said in one of six consultation papers released. “English common law, as it stands

from time to time, will therefore govern mat-ters such as contracts, tort, trusts, equitable remedies, unjust enrichment, damages, con-flicts of laws, security, and personal prop-erty.”

The ADGM said it would adopt other legislations when it felt that would be more effective - cherry-picking approaches from around the world in the same way as the DIFC has sought to do.

For example, shares in ADGM companies will not have a par value in line with the ap-proach taken in jurisdictions such as Hong Kong, Singapore and Australia, it said.

“[The] ADGM has the opportunity to take the best of the UK approach, while avoiding some of its historic peculiarities that have been removed or abandoned by the best practice of other jurisdictions,” it said.

In another step that could cut costs and attract more business, the ADGM said it would introduce a new type of firm with lighter disclosure and compliance require-ments.

These “restricted scope companies” would be “holding vehicles for professional investors and limited instances of institu-tions for whom less regulation and a greater degree of confidentiality will be appropriate.”

The ADGM is considering extending this regime to include entities owned entirely by an individual or close family members, it added. Such “family offices” manage much of the assets of wealthy Gulf businessmen and royal family members.

REUTERS/Tim Chong


SHOGO ASAJI Morrison & Foerster Jones Day Intellectual Property Tokyo

SARAH CATCHPOLE Norton White Kennedys Aviation Hong Kong

TOMOKO FUMINAGA Bingham McCutchenMorgan, Lewis

& BockiusInvestment Management,

Financial RegulationTokyo

SEOW HUI GOH Braddell Brothers Bird & Bird Employment Singapore

MARK COOPER Linklaters Hogan Lovells Corporate Singapore

PENG LIM Clyde & Co Kennedys Aviation Singapore

CHRIS MIZUMOTO Bingham McCutchen Morgan, Lewis & BockiusIntellectual

PropertyTokyo

SHERROY ONG ANZ Banking Group RHTLaw Taylor Wessing Corporate Singapore

ANITA QUY Clyde & Co Kennedys Aviation Singapore

K. P. SINGH Indian Revenue Service AZB & Partners Indirect Tax, Regulatory Delhi

JAMES ROBINSON Herbert Smith Freehills Morrison & Foerster Corporate Tokyo

LATERAL HIRESNAME LEAVING GOING TO PRACTICE LOCATION

APPOINTMENTS

TSUGUMICHI WATANABE

Bingham McCutchenMorgan, Lewis

& BockiusCorporate Tokyo

LISA VALENTOVISH Bingham McCutchenMorgan, Lewis

& BockiusCorporate Tokyo

CHRISTOPHER WELLS Bingham McCutchenMorgan, Lewis

& BockiusInvestment Management,

Financial RegulationTokyo

ADAM FERGUSON Eversheds UK Hong Kong Competition Law

RELOCATIONSNAME FIRM FROM TO PRACTICE

STEPHEN HOPKINS Eversheds UK Hong KongGlobal ClientDevelopment

SIMON MAKINSON Allen & Overy Bangkok Yangon Corporate

NICHOLAS WONG Clifford Chance Paris SingaporeProjects, Banking

and Finance


REGIONAL UPDATESINGAPORE

The Monetary Authority of Singapore (“MAS”) recently reprimanded The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch

(“HSBC”) for breaching the Financial Advisers Act (Chapter 110) of Singapore (“FAA”), and JPMorgan Chase Bank, N.A., Singapore Branch (“JPMorgan”) for breaching the FAA and the Securities and Futures Act (Chapter 289) of Singapore (“SFA”).

MAS reprimand of HSBCOn 27 November 2014, the MAS reprimanded HSBC for contravening Section 23B(3) of the FAA, which provides that a principal shall not permit any individual to provide any type of financial advisory service on its behalf unless the individual is an appointed representative or

provisional representative in respect of that type of financial advisory service.

HSBC contravened the above provision when two of its representatives carried out financial advisory services for which they were not appointed or provisional representatives.

MAS reprimand of JPMorganOn 24 December 2014, the MAS reprimanded JPMorgan for breaching Section 23B(3)(a) of the FAA (see above) and Section 99B(3)(a) of the SFA, which provides that a principal shall not permit any individual to carry on business in any type of regulated activity on its behalf unless the individual is an appointed, provisional or temporary representative in respect of that type of regulated activity.

JPMorgan contravened Section 23(B)(3)(a) of the FAA as it had permitted two representatives - who were not appointed or provisional representatives - to provide financial advisory services on its behalf, and contravened Section 99B(3)(a) of the SFA as it also had permitted four representatives - who were not appointed, provisional or temporary representatives - to deal in securities and fund management on its behalf.

Separately, the MAS also reprimanded Mr Ulysses Lau for contravening Section 99B(1) of the SFA for dealing in securities when he was not an appointed, provisional or temporary representative in the dealing of securities.

Regulatory Guidance by the MASIn issuing the above reprimands, the MAS also highlighted the following which are of note:

• Allfinancialinstitutionsshouldhaverobustsystemsandcontrolstoensure that they do not permit any individual to conduct any financial advisory service under the FAA or regulated activity under the SFA on their behalf unless the individual is a duly appointed representative under the FAA or the SFA.

• AnyindividualconductinganyregulatedactivityundertheSFA,on behalf of the individual’s principal, must be a duly appointed representative under the SFA. This ensures that individuals conducting regulated activities are fit and proper and comply with the SFA.

The recent reprimands by the MAS demonstrate the seriousness of the Singapore regulators in enforcing compliance with applicable laws.

MAS TAKES ENFORCEMENT ACTIONS AGAINST BANKS FOR REGULATORY BREACHES

13WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business UPDATES

MR. ANDREW MAK YEN-CHEN MS. DIANTHA HO SUET PING Partner Legal Associate (Corporate Practice) T: (65) 6322 2210 T: (65) 6322 2235 F: (65) 6534 0833 F: (65) 6534 0833 E: [email protected] E: [email protected]

Loo & Partners LLP143 Cecil Street, Level 10, GB BuildingSingapore 069542www.loopartners.com.sg

COVER STORY14 ASIAN LEGAL BUSINESSJANUARY 2015

WHAT WILL 2015 LOOK LIKE FORsOME OF AsIA’s LARGEsT ECOnOMIEs

AnD THEIR LEGAL InDUsTRIEs?LAW FIRMs FROM AROUnD THEREGIOn OFFER sOME AnsWERs

TO RANAJIT DAM.


Crystal ball gazing is always a fun exercise; aside from attempting to predict the future (not always the most exact science), it is interesting to return and see how accurate those predictions ended up becoming. As with every new year, business publications around the world have provided their forecasts on how the coming year will pan out. According to the Economist Intelligence Unit, the world economy will grow by 2.9 percent in 2015, although emerging markets will see slower growth. China will see expansion slow to 7 percent in 2015, and Macau’s GDP will shrink thanks to a slump in gambling revenues. However, the good news is that excluding Japan, Asia and Australasia will be the world’s fastest-growing region in 2015, with Papua New Guinea (set to expand by almost 15 percent), Laos, Sri Lanka and Cambodia the stars.

The year 2015 also promises the launch of the ASEAN Economic Community, and other notable trends. Here we look at what the year holds in terms of legal and regulatory developments in some of Asia’s largest economies, as well as how the legal industry in these countries is expected to develop.

COVER STORY 15WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

A floor trader walks out of the trading hall during morning trading at the Hong Kong Stock Exchange. REUTERS/Bobby Yip

The year 2014 saw the Chinese government place a great deal of focus on the promotion of the rule of law, and Wang Ling, managing partner of King & Wood Mallesons, says that she anticipates that “at a very high level, this will influence the development of the rule of law in China. It is, of course, a development which we wholly welcome.” Additionally, her firm expects to see an increase in compliance-related issues faced by its clients across a range of issues, including anti-corruption, employment and intellectual property (IP). “The internationalisation of the RMB and the pilot programmes of the Shanghai Free-Trade Zone as well as those of the Tianjin, Guangdong and Fujian FTZs are throwing up fresh challenges for the legal services market

in China,” she says. “We would also highlight the launch of the Shanghai-Hong Kong Stock Connect which allows the greater integration of capital markets across Greater China.”

Wang says that clients last year showed increasing interest in cross-border business opportunities including M&A, with invest-ment flowing into a very wide range of coun-tries and regions. “Equally, Chinese investors are focusing on an ever-widening range of industries for investment, including new en-ergy, TMT, entertainment, agribusiness, real estate, infrastructure and healthcare,” she adds. “We expect these trends to continue and intensify in 2015.” Additionally, she notes that there has been an increased tendency in China to litigate to resolve disputes. Finally, the IPO market in Greater China was strong last year, with 252 IPOs raising a combined $42.2 billion, up 95 percent by deal number and 89 percent by proceeds from 2013, with industrials and TMT being two of the key sec-tors for IPOs, and Wang expects to continue to see strong performances in these sectors and

generally. It is no surprise KWM had a busy year particularly in IPOs, compliance, litiga-tion and outbound investment. “We would anticipate that these trends will continue in 2015,” says Wang.

In terms of China’s legal industry, Wang notes that the Chinese legal services market is becoming more and more competitive and is changing fast. “One change we have noticed is the increasing trend of leading lawyers at international law firms in a given field in China to return to the foremost Chinese firms,” she says. “Chinese clients are becoming more and more sophisticated in selecting law firms for particular types of legal service. At KWM, we welcome these developments.”

China

China

Hong KongEven as Hong Kong reeled under the impact of the Occupy Central movement in 2014, there was much reason to cheer, particularly in the capital markets space. “Corporate financing was active in 2014, with keen demands for cross-border loans and acquisition financ-ing. The surge of the fund-raising markets continued, with 115 IPOs making Hong Kong Stock Exchange the second-largest fundrais-ing centre globally,” says Stephen Hung, a partner with Li & Partners. “We expect this trend to continue in 2015 as Chinese corpo-rates continue to seek overseas capital via Hong Kong. This in turn will bring more work to the banking and corporate departments of law firms.”

As noted above, the Shanghai-Hong Kong Stock Connect was one of the most important regulatory developments in Hong Kong last year. “It came as a surprise to the market and the much-anticipated mutual fund recogni-tion between Hong Kong and mainland China had to give way to the Stock Connect,” says Alwyn Li, a partner at Deacons. “Whilst at the initial stage, the Stock Connect is mainly used by fund management companies based in Hong Kong, there is strong interest from overseas fund management companies in Europe and the U.S. The use of the Stock Connect will continue to expand in 2015.”

Hung says the launch of the Stock Connect and the liberalisation of the renminbi will give the Chinese currency further means to flow overseas through Hong Kong. “Some ambitious issuers may seek dual-share-dual-currency listing in Hong Kong and Shanghai,” he notes. “Practitioners with experience in both local and PRC law will have a distinctive advantage in these exercises. Meanwhile, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone will enable practitioners from Hong Kong and China to provided legal services to clients under one roof.”

Chinese clients arebecoming more and moresophisticated in selectinglaw firms for particular

types of legal service.

Practitionerswith experience in

both local and PRC lawwill have a distinctive

advantage.


India is still feeling the euphoria from the election of Narendra Modi, and this is expect-ed to continue into 2015. “The post-election scenario in India has induced far greater con-fidence for the economy, and this is expressed at the stock exchanges,” says Shardul Shroff,

managing partner of Amarchand Mangaldas. “The new government has demonstrated a decisive reforms-oriented vision, and we expect that the new reforms which are be-ing called the ‘third-generation reforms’ will continue in 2015. The reworking of the Land

IndonesiaAnother Asian country that elected a reform-ist candidate last year was Indonesia, and law firms are eager to see Jokowi back up his promises and implement even more reforms this year. “As the new president is known as a doer, we can expect to see the issuance of implementing regulations for the current laws as well as reformation of the bureau-

The post-election scenarioin India has induced

far greater confidence forthe economy, and this is

expressed at thestock exchanges.

cracy,” says Constant Ponggawa, managing partner of Hanafiah Ponggawa & Partners (HPRP). “We have about 112 draft laws in the national legislation programme for the period 2015–2019. Priority will be given to laws that support economic growth, and to the adop-

tion of international conventions. We hope that these improvements will attract foreign investors to invest or to expand their busi-nesses in Indonesia, which in turn will support Indonesia’s economic growth.”

According to Abadi Abi Tisnadisastra, part-ner at AKSET, legal certainty and bureaucratic procedures have always been on top of the list of issues for investors. “At present, overlapping policies issued by different government insti-tutions – both at the central and/or regional levels – result in a lack of clarity with respect to how, or even whether, investments can be implemented. We expect that this year, the reform push will begin in earnest and will im-mensely ease investors and stakeholders in establishing and operating their businesses.

In addition, he says the the Indonesian Financial Services Authority (OJK), the institu-tion overseeing banks, finance companies and public companies, has been actively issuing

India

Additionally, Hung notes two areas of work that will keep lawyers in Hong Kong busy in 2015. As the government aims to form a world-class ADR hub in the SAR, local lawyers will be able to compete for arbitra-tions and mediations on a level playing field. “Litigators should be prepared to gear up with mediation and arbitration skills in order to provide comprehensive legal services to clients,” he says. Hung adds that while Chinese money will remain the most impor-tant income source for the legal industry, practitioners might need to diversify their client base. “Given the unwavering support by the Hong Kong government on infrastruc-ture projects in Hong Kong, requirements for legal services in the construction space are expected to grow steadily.”

Li sees an increase in regulatory/compli-ance work. “For 2015 and 2016, a number of new regulations are in the pipeline, for example, the new Professional Investors Regime, OTC derivatives-related regulations and SFC licences,” he notes. “With all the new policies and regulations, it is important for clients and in-house counsel to be familiar with the changes to ensure compliance with the new standards and new requirements.”

Acquisition Act, which is a major stumbling block for new investments, will be seen in 2015 and this will encourage greater invest-ment into India.”

Among highlights of the coming year, according to Shroff, are the passage of the GST bill and the constitutional amendments for the same purpose, which will be a “game changer” for India. “The government, in December, has promulgated Ordinances for the auction of coal and for insurance and pension laws,” he says. “These will be some of the most important bills which will be taken up in the budget session of parlia-ment.” Meanwhile, there has been a spurt in private equity and mergers and acquisitions and great interest in insurance reforms, and Shroff sees “greater traction in 2015” in these areas. “We expect that M&A and private eq-uity and other transactional work will receive a significant boost and correspondingly, there will be enhanced dispute resolution work of a higher value and consequence,” he says.

Indonesian presidential candidate Joko “Jokowi” Widodo gestures at a rally in Proklamasi Monument Park in Jakarta. REUTERS/Darren Whiteside

The reform push will begin in earnest and will immensely ease investors

and stakeholders in establishing and operating

their businesses.


Among the regulatory developments set to be implemented in the country this year are amendments to the Companies Act of Japan which will require boards of directors to provide for several structures in order to control properly not only their own companies but their subsidiaries as well, says Yasuzo Takeno, managing partner of Mori Hamada & Matsumoto. “In particular, practice relating to the supervision of activities of subsidiaries is expected to be greatly affected by the new requirement,” he says. “A new corporate gov-ernance code is also scheduled to be imple-mented, through the rules of the Tokyo Stock Exchange, in June this year and will also affect the way of corporate governance under the enhancement of ‘comply or explain’ rules.”

Real estate in Japan was an attrac-tive target for investments in 2014, par-

new regulations in order to boost and strength-en the banking and financial services sectors. “We are also aware that the new parliament is considering focusing on long-awaited new legislation, including the new Banking Law to be passed in 2015,”says Tisnadisastra.

Speaking about the legal industr y, Ponggawa says that as there have been many improvements in regulations and bureau-cracy that attract investors to expand their businesses in Indonesia, there will be a lot of opportunities for law firms to be involved. “We also expect 2015 to be a very challenging time for Indonesian law firms since it will be the year AFTA and AEC are implemented. Only law firms with strong domestic capability and an international network support will survive and win the competition,” he says.

In 2014, a few new law firms established in Indonesia, including some that are affiliated or have cooperation arrangements with top international firms, says Tisnadisastra. “We may see a few more Indonesian firms in 2015 entering into cooperation with international firms to internationalise their practices,” he adds.

Japanticularly by Asian investors, according to Takeno. “We have been busy with setting up legal structures for investment in real estate, such as partnerships, J-REITs, and a trust listed on the Singapore Exchange,” he says. “Infrastructure such as airports, through a PFI structure using the ‘concession’ method

under the amended PFI Act of Japan promul-gated in 2011, was also an attractive area of investment. These trends are expected to continue in 2015.”

Takeno says that the IPO boom that start-ed under the Abe government is expected to continue in 2015. “The offering of shares

We expect to providea wide range of advice

including on how toabide by the new corporategovernance regime under

the amended Companies Act


With global oil prices dropping significantly in recent times, Malaysia, which is dependant on oil sales, is feeling the effects of it. “Calls for a contingency plan have been made and politi-cians have put forward a proposal to revise Malaysia’s 2015 budget to combat declining global oil prices,” says Dato’ Azmi Mohd Ali, senior partner of Azmi & Associates. “If these propositions go unheeded, not only will the Budget 2015 deficit target of -3.0 percent of GDP not be met, Malaysia will be at risk of becoming enmeshed in an economical quagmire that deters foreign investment in Malaysia.”

However, Dato’ Azmi says that while people are predicting that 2015 will con-tinue to be a difficult year due to the slump in oil prices, the drop in crude oil prices, the deficit in the government budget and the implementation of the goods and services

tax, “Malaysia remains a good market for long-term investments, especially for cash-rich corporations.”

Brian Chia, head of the Corporate and Commercial Practice at Wong & Partners, notes three developments to look forward to in the next year. “One is the the Malaysian Companies Bill, which aims to introduce a modernised corporate legal framework and will impact all Malaysian companies and for-eign branches alike on how they conduct busi-ness in the country, including how they are regulated,” he says. “Then there is increased scrutiny and corporate governance driven by other regulators such as the Securities Commission and Bursa Malaysia, incremen-tally increasing minority protection rights and transparency and corporate governance standards generally. Finally, the continued liberalisation of the Malaysian regulatory en-vironment will likely facilitate further foreign

Malaysia remainsa good market for

long-term investments,especially for

cash-rich corporations.

by Japan Post Holdings and its subsidiaries which is scheduled to be made in 2015 is one good example,” he notes. “There were a number of Japanese manufacturers acquiring Southeast Asian companies, and we have also observed a lot of activity in the retail, IT and logistics sectors. We expect to provide a wide range of advice including on how to abide by the new corporate governance regime under the amended Companies Act mentioned above, and also by the anti-corruption laws in each of the countries in which our clients have places of business.”

KoreaIn 2015, the Korean government’s plans to stimulate M&A will be among the most note-worthy trends, says Cecil Saehoon Chung, senior foreign counsel at Yulchon. “For example, Korea-based private equity funds may be able to acquire assets in addition to shares,” he says. “The licence-based system for fund management companies will switch to a registration-based system. Investment banks can double the amount of credit they can provide to investors. Brokerage activities may now include commodity and derivative products.”

A softening of financial regulations will continue in 2015, and with the entry of foreign financial entities such as Alipay, there will be an oversupply of abundant potential M&A targets as Korean conglomerates continue to unload non-core assets to improve their li-quidity and refocus on core strengths, he says. “Private equity funds, rather than Korean

conglomerates, will continue to be active as buyers in 2015,” says Chung. “More Korean real estate investors will likely see invest-ment potential in logistical facilities or retail spaces. They will continue to explore invest-ment in Germany, Italy, Spain and Australia

rather than landmark buildings in the U.S. or England. They will also continue their diversi-fication strategy to invest in existing secured loans or mezzanine loans, or participation interests in loan facilities collateralised by real property.”

For cross-border M&A deals, further de-lays in securing antitrust clearance can be expected from Korea’s Fair Trade Commission (KFTC) that has a small merger review office to begin with, notes Chung. “Global compa-nies will continue to be mired in the KFTC’s investigations for their local acquisition targets’ past cartel activities,” he says. “We counsel more attention to proper antitrust due diligence and indemnification clauses to help avoid unpleasant surprises.”

Malaysia

REUTERS/Samsul Said

Private equity funds,rather than

Korean conglomerates,will continue to be

active as buyers in 2015.


PhilippinesThe Asian Development Bank has predicted 6.4 percent growth from the Philippines in 2015, and this has been fueled primarily by robust private consumption, supplemented by growth in net exports and in the services sector, says Hector de Leon Jr, partner at SyCip Salazar Hernandez & Gatmaitan.

“Investor interest in these areas of activ-ity in 2014 is expected to continue in 2015,” he says, noting that Congress is expected to pass several economically significant laws in 2015. “These include the law reforming the tax system and rationalising fiscal incentives, the proposed Fair Competition Act, and the law strengthening the government’s Public-Private Partnership (PPP) programme,” says de Leon.

Agustin Montilla, a partner with Romulo Mabanta Buenaventura Sayoc & de los Angeles, says that while 2014 seeing the lifting of the most significant nationality re-

strictions on the banking sector, “the push for further liberalisation is expected to grow with ASEAN’s integration plans for 2015, but formi-dable obstacles remain as the more stringent limits to foreign investment would require a constitutional amendment to be achieved.” One key area to watch in the coming year, he says, is merger control. “The government has established a merger control office that is starting to review transactions but without a legal framework,” says Montilla. “Several pro-posals have been filed that, if passed into law by Congress, would provide such a framework. Previous proposals have not made progress, but 2015 could be different.”

de Leon says that in 2014, law firms saw significant amounts of M&A and projects work. “I also expect an increase in three types of work in 2015,” he adds. “Energy-related work, given the looming power shortage in 2015; work related to the PPP programme, as

the government is scheduled to roll out more PPP projects in 2015; and (c) work related to preparations made by clients in connec-tion with the establishment of the ASEAN Economic Community, as the 2015 deadline for that draws near.”

Since taking over in the coup last year, Thailand’s military government has en-deavoured to push through rapid reforms to revitalise the country’s economy, says Tiziana Sucharitkul, co-managing partner of Tilleke & Gibbins. “As one of its preliminary steps in this direction, the government has collabo-rated with Thailand’s Board of Investment to develop a seven-year investment promotion strategy (2015-2021). In 2015, we should expect to see legal and regulatory develop-ments begin to take place to further these ends.”

In particular, she says, such legal and regulatory developments will likely relate to encouraging research and development, innovation, value creation in the agricultural, industrial, and services sectors, SMEs, fair competition, inclusive growth, energy saving, use of alternative energy, strengthening value chains, promoting investment in Thailand’s restive south, promoting special economic zones and promoting Thai overseas invest-ment.

In November 2014, says Tiziana, talks were held to discuss the prospect of amend-ing Thailand’s Foreign Business Act. “The Ministry of Commerce raised the possibility of preventing foreign directors from controlling

joint venture firms that are majority owned by Thai shareholders, stirring much consterna-tion among foreign investors,” she notes. “The proposed changes to restrict foreign ownership in joint ventures have, however, been rebuffed through the joint efforts of the foreign investment community, and for now, the status quo is being maintained. Thailand’s military leaders are apparently inclined to foster a friendly, stable investment climate that is in line with ASEAN Economic Community integration.”

investment into Malaysia and hopefully, drive increased competition.”

Chia also notes the increasing interest in the private equity space. “Private equity firms throughout the region are fully cashed and we expect continued investment into 2015,” he says. “The soft consumer sentiment in the Malaysian market and lethargic consumer spending levels may close the expectation gaps between sellers and buyers, leading to further PE investment opportunities.”

The push forfurther liberalisationis expected to grow

with ASEAN’sintegration plans

for 2015.

Thailand’s Prime Minister Prayut Chan-o-cha poses as he arrives for the Asia-Europe Meeting (ASEM) in Milan. REUTERS/Stefano Rellandini

Thailand

Thailand’smilitary leaders are

apparently inclined tofoster a friendly,

stable investmentclimate.

CSR20 ASIAN LEGAL BUSINESSJANUARY 2015

AsIAn LEGAL BUsInEss’ InAUGURAL CsR LIsT, APART FROM sPOTLIGHTInG 10 LAW FIRMs In AsIA DOInG nOTABLE WORK In THAT sPHERE,

ALsO HIGHLIGHTs HOW IMPORTAnT CsR Is BECOMInG TO THE LEGAL InDUsTRY In THE

REGIOn. BY RANAJIT DAM

Law firms in Asia today aim for the highest global standards in a number of areas: client service and satisfaction, attract-ing and retaining talent and firm and practice management, among others. And another area they’ve started to look seri-

ously at is corporate social responsibility (CSR). Firms now are not only keen to give back to the society, but they find that it can have benefits too. “I would say that law firms today are beginning to see how CSR and the success of their firms go hand-in-hand,” says Jayaprakash Jagateesan, COO of RHTLaw Taylor Wessing. “It is no longer a ‘nice to have’ but an integral function of a law firm.”

Indeed, RHTLaw offers an example of how the different initia-tives law firms are undertaking in this regard. The firm late last year set up the RHT Rajan Menon Foundation, named after its senior partner, through which it will channel all its CSR efforts. The

ASIAN LEGAL BUSINESS

Allen & Gledhill

Amarchand Mangaldas

Bae , Kim & Lee

Hogan Lovells

King & Wood Mallesons

Mayer Brown JSM

Olswang

Orrick, Herrington& Sutcliffe

RHTLaw Taylor Wessing

WongPartnership

To mark SG50, RHTLaw Taylor Wessing is also pleased to announce the launch of the

RHT Rajan Menon Foundation Named after our founding father and Senior Partner, Rajan Menon, the Foundation acts as a vehicle through which the RHT Group of Companies contributes to its charitable endeavours. Through this Foundation, we hope to play our part as a responsible corporate citizen and give back to the community. Capitalising on our ASEAN presence, we hope to spread the reach of our Foundation across ASEAN and eventually to the rest of Asia. The Foundation has the following goals: > To support environmental conservation e�orts.

> To support the educational pursuits of underprivileged children.

> O�er assistance to disadvantaged groups.

As our nation’s 8th largest law �rm, we are thrilled to celebrate the Singapore spirit of resilience and our collective sense of identity. Like our island nation, we have grown from strength to strength. As a �rm based in Singapore, we o�er clients access to a network of over 1050 legal professionals across 24 o�ces in Asia, the Middle East and Europe via our membership with Taylor Wessing group. Our ASEAN Plus Group is made up of leading �rms in eight countries, o�ering clients access to more than 750 lawyers in the ASEAN region and beyond.

So to show our appreciation for our fellow Singaporeans, we are pleased to kick o� a year-long community engagement program. > Engaging our Community Free Legal Clinics in the heart lands of Singapore. Provide Pro-Bono services to charities and non-pro�t organisations to navigate legal and regulatory issues.

> Helping our Youth Education fund for underprivileged Singaporean school children.

> Embracing ASEAN Overseas missions to embark on poverty alleviation projects.

We know ASIA.

Together let’s celebrate Singapore and this island nation we call home!

COMPLIANCESOLUTIONS

COMPLIANCESOLUTIONS

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COMPLIANCESOLUTIONS

COMPLIANCESOLUTIONS

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ALB-SG50.pdf 1 7/1/15 6:57 PM

CSR22 ASIAN LEGAL BUSINESSJANUARY 2015

foundation will continue to work with its beneficiaries and partners like the National University of Singapore, Children’s Cancer Foundation, World Wide Fund for Nature (WWF), Singapore Road Safety Council and play an active role in education, health, en-vironment and community initiatives.

The foundation has three goals, says Jagateesan: To support environmental con-servation efforts, to support the educational pursuits of underprivileged children, and to offer assistance to disadvantaged groups. “We are also engaging with our community by offering free legal clinics in the heart lands of Singapore. We will also provide pro bono services to charities and non-profit organ-isations to navigate legal and regulatory is-sues,” he says. “People make an organisation and we strive to meet our people’s needs to our best abilities. We also have plans to grant days-off to staff whose CSR activities fall on a weekday. As for education, we are initiat-ing an education fund for underprivileged Singapore school children.”

Other initiatives include The Association

of Criminal Lawyers of Singapore (ACLS) said up by the late Subhas Anandan, vet-eran Singapore criminal lawyer and one

of the firm’s founding partners. Another bursary and scholarship has been set up in Anandan’s name for the firm’s staff and their children.

Jagateesan says the firm’s attitude to-wards CSR comes from a fundamental prin-ciple that it believes in. “This belief is that a firm that does good in the community will do good as an organisation as well,” he says. “We have a responsibility to the community that we belong to. Our people’s diligence and dedication in their work have driven the firm to new heights and we unanimously share the belief that it is our duty to inculcate the spirit of generosity among our people. Years ahead, we want to not only be recognised for being a great law firm, but also remembered for the good we have done. I am happy to say that the leaders and staff of the firm are role models with many of them sitting on boards of charities and helping out as volunteers in their personal capacity.”

According to Jagateesan, the firm believes that CSR starts at the grassroots. “Keeping our people engaged and inspiring them to do

“WE REALIsE THAT WHAT WE ARE DOInG Is nOTHInG MORE THAn A DROP In THE OCEAn BUT IF THE DROP WAs nOT THERE, THE OCEAn WILL BE MIssInG sOMETHInG.”Jayaprakash Jagateesan,RHTLaw Taylor Wessing

CSR 23WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

good in the community will ensure that our CSR plans flourish in the future,” he says. “We are also not just looking at Singapore. With our ASEAN Plus Group strategy firmly in place, we have mission trips planned to the ASEAN region this year where poverty alleviation will be our primary aim. We realise that what we are doing is nothing more than a drop in the ocean but if the drop was not there, the ocean will be missing something.”

South Korea’s Bae, Kim and Lee (BKL) is another firm that takes its corporate social responsibility quite seriously, with initiatives like assistance for asylum seekers, support for NGOs helping the settlement of North Korean defectors, and the introduction of an advocacy system for handicapped people. BKL set up its Pro Bono Committee in 2002, established a public interest foundation named Dongcheon in 2009. In 2012, it introduced the concept of Law Firm Social Responsibility (LSR), and has been encouraging its professionals to perform pro bono activities in a more active manner after revising its regulations on pro bono work in 2013. LSR “has its roots in Article 1(1) of the Attorney-At-Law Act, which states that: ‘[T]he mission of any attorney-at-law shall be to defend fundamental human rights and realize social justice,’” says Won Hee Cho, partner at BKL. “Pro bono activities based on LSR do not only contribute to providing assistance for the underprivileged members of our society, but also serve as a momentum to promote a positive competition among law firms and reinforce awareness on pro bono activities performed by domestic law firms.”

By reinforcing LSR, a law firm can “create a healthy and friendly working environment in which its members feel pride; improve public awareness of law firms; and have an affirmative effect in recruiting outstanding professionals as it can be recognized as a

law firm carrying out its social responsibil-ity,” says Cho. He adds that BKL’s Pro Bono Committee is operated “in a very systematic and organised manner, which has become a role model among its fellow law firms.” The committee currently has six sub-committees – for refugees, international migrants, North Korea and North Korean settlers, handicapped persons, social enterprise, and women and youth – and five support teams, namely planning team, external coopera-tion team, membership team, accounting team, and promotion team. “The Pro Bono Committee and its sub-committees hold a meeting on a monthly basis and do their best to promote pro bono activities through a competition in good faith by sharing the in-formation on the activities performed in each field and encouraging each other,” says Cho.

Additionally, with financial support pro-vided by BKL, the committee is taking the initiative in providing public interest legal services and performing voluntary services and social activities in an “efficient and sys-tematic manner” through Dongcheon, the first public interest foundation established by BKL, and Dasom, BKL’s volunteer group, according to Cho.

Since late last year, BKL has also started a project to publish a series of books in the field of public interest law in Korea. The first book, “Public Interest Foundation System”, is scheduled to be published around June 2015, and books focusing on refugees, inter-national migrants, and physically challenged persons will be published every six months, says Cho.

“PRO BOnO ACTIVITIEs... DO nOT OnLY COnTRIBUTE TO PROVIDInG AssIsTAnCE FOR THE UnDERPRIVILEGED MEMBERs OF OUR sOCIETY, BUT ALsO sERVE As A MOMEnTUM TO PROMOTE A POsITIVE COMPETITIOn AMOnG LAW FIRMs AnD REInFORCE AWAREnEss On PRO BOnO ACTIVITIEs PERFORMED BY DOMEsTIC LAW FIRMs.”Won Hee Cho, Bae, Kim & Lee

UAE REPORT24 ASIAN LEGAL BUSINESSJANUARY 2015

THE UnITED ARAB EMIRATEs HAs WELL AnD TRULY BOUnCED BACK FROM THE FInAnCIAL CRIsIs OF 2009-2010. InFRAsTRUCTURE COnsTRUCTIOn HAs RETURnED TO FULL sWInG, WHILE M&A DEALs ABOUnD, WHICH MEAns MORE WORK FOR LAW FIRMs BOTH In TERMs OF DEALs As WELL As THE REsULTInG ARBITRATIOn AnD LITIGATIOn. RANAJIT DAM InVEsTIGATEs

THE BOOM IS BACK

When the global financial crisis of 2008 finally made its way into the UAE a year or two later, it made its impact felt

quite visibly. Caught in the middle of a manic construction phase, Dubai in particular was pushed to the brink of sovereign default by the end of 2009, and the debt restructuring that followed resulted in so many unfinished towers that the emirate looked closer to an empty construction site. Businesses raced each other to the exit, and an atmosphere of gloom prevailed.

Fast forward to about five years later, and the country is well on its way to recov-

ery, helped in no small part by a spurt in oil prices, increased government spending and a renewed impetus in tourism, transport and trade. In addition, successful restructuring of debt, the calming stability of Abu Dhabi and helpful monetary and fiscal policies have helped as well. Construction is recommenc-ing and infrastructure projects are being planned, even if not at the same pace as before. The UAE’s GDP reached $419 billion at the end of 2014, a 4.8 percent rise on 2013, according to the International Monetary Fund (IMF), which further predicts that GDP will continue to grow at a rate of 4 to 5 per-cent over the next seven years.

The rebound has also brought back smiles to the faces of law firms, which are seeing a resurgence in work, not just in terms of the infrastructure work as well as the return of M&A deals, but also in arbitration and litiga-tion from the resulting disputes. Additionally, capital markets work in Dubai is also on a roll. “The capital markets have been active in Dubai [in the past year] with seven IPOs in total,” says Husam Hourani, managing partner of Al Tamimi & Co. “Two of them were London listings, one was on NASDAQ Dubai, and the remaining four listings were on the Dubai Financial Market (DFM). We advised on the majority of these IPOs.” He adds that all

UAE REPORT 25WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

the 2014 IPOs on DFM were oversubscribed with “a positive outlook.”

These IPOs included one by Emaar Malls Group, a unit of the UAE’s biggest listed developer, Emaar Properties, which was the largest initial public offering in Dubai since 2007. Apart from size and being representa-tive of the return of confidence to the UAE, the IPO was also the first DFM deal to com-bine retail and institutional investors. “For the first time on the DFM, we have had a bookbuilding IPO for the Emaar Malls trans-action,” says Hourani. “The Securities and Commodities Authority (SCA) has accepted and issued a regulation which will enable

sell downs in IPOs rather than the previous model being limited to increases in capital. This should make it easier for any future IPOs to follow the same path.”

Jimmy Haoula, managing partner of Bin Shabib & Associates (BSA), says the rebound is being reflected in the kind of work his firm has been doing in the past two years. “Right after the crisis, we felt the impact on real estate and corporate/commercial transac-tions in general,” he says, “They vanished. Recently, the confidence in the economy reflects well on M&As and new business opportunities and expansion in the region that is driven from Dubai. The impact was

also clear on the contentious legal work, where we have noticed a slight reduction in requirements except for material transac-tions, unlike the time, post-crisis, when every matter was contentious.”

International law firms have similarly shown their confidence in the country of late, including Watson Farley & Williams and Switzerland’s Bonnard Lawson, which opened in Dubai in late 2014, Cleary Gottlieb Steen & Hamilton (Abu Dhabi, 2012) and Morgan, Lewis & Bockius (Dubai, 2013).

REGULATORY DEVELOPMENTSOne noteworthy recent regulatory develop-

The Burj Khalifa (C) skyscrapper is seen as the sun sets over Dubai. REUTERS/Mosab Omar

UAE REPORT26 ASIAN LEGAL BUSINESSJANUARY 2015

ment in the UAE, according to Hourani, is related to capital markets: The Securities and Commodities Authority of the UAE (SCA) recently issued a new regulation to give private joint stock companies with a per-formance history of two full financial years a “fast track” to list on the DFM and Abu Dhabi Securities Exchange (ADX), without the need to convert to a public joint stock company and undertake the IPO process. “The new regulation opens the UAE equity market to a new range of issuers,” he says. “Any UAE private joint stock company which publishes audited financial statements for two complete years, has at least 30 share-holders and shareholder equity not less than paid up capital, is eligible to apply for listing on DFM or ADX.”

He adds that a significant advantage for issuers and shareholders is that existing owners are not restricted from selling down their interest to buyers in the market. “In contrast, where there is an IPO, the found-ers cannot sell their shares for two years after listing. The new pathway may offer a faster exit for private equity firms and other shareholders choosing to sell down,” says Hourani. “The proposed new regulation is an intriguing option for prospective issuers under current buoyant market conditions and offers an avenue for shareholder liquidity. This is particularly true of existing propri-etors, who would otherwise be restricted from any sell down in an IPO scenario for two years after listing.”

Another regulation, just announced, is the new UAE Competition Law which governs anti-competitive behaviour and monopoly practices. “This has important business im-plications, and is likely to affect commercial practices and transactions for both local and international entities in terms of merger controls, restrictive agreements and abuse of dominance,” says Hourani, “However, in view of the ability of certain sectors and business types to be excluded, or apply for exclusion, only time will tell as to whether the law ef-fectively delivers on its intended objective of protecting and enhancing competition and combating monopoly practices.”

According to Haoula, the most noticeable regulatory developments in Dubai relate to banking and insurance. “The first brought stability and access to liquidity among banks, and the latter has intrigued the international companies to gain access to the city,” he says.

INVESTORS SAVVIERHaoula notes that one important trend among investors into the UAE is that they

have grown savvier. “We have noticed in-vestors seeking a certain EBITDA return on the opportunities, and most have paid more attention to carrying out reasonable legal

due diligence on their transactions,” he says, “We expect to see more of this as the market matures.”

Still, business in the UAE today is “ex-tremely positive,” says Hourani. “The UAE’s non-oil sectors experienced continued growth, driven by strong real estate de-velopment activity, tourism, leisure and retailing buoyancy and a continuation of major infrastructure projects.” He high-lights the country’s economic free zones, which are designated areas within urban or industrial precincts where foreign investors are permitted to set up 100 percent owned companies and businesses. “The UAE’s free zones, particularly those in Dubai and Ras Al Khaimah, have been very successful and a staggering array of businesses operates from the free zones, ranging from manufacturers to banks and consulting firms,” he says. “The free-zone model in the UAE is rather unique and very attractive for businesses seeking to invest here. We expect to see these continu-ing to succeed.”

Hourani points out that one sector that is currently seeing exceptional growth in the UAE, particularly in Abu Dhabi, is the healthcare industry. “It is forecast that over the next few years, due to factors such as the rapidly expanding population, greater

“THE UAE’s nOn-OIL sECTORs EXPERIEnCED COnTInUED GROWTH, DRIVEn BY sTROnG REAL EsTATE DEVELOPMEnT ACTIVITY, TOURIsM, LEIsURE AnD RETAILInG BUOYAnCY AnD A COnTInUATIOn OF MAJOR InFRAsTRUCTURE PROJECTs.”Husam Hourani, Al Tamimi & Co

UAE REPORT 27WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

public awareness of medical conditions and treatment available, higher incidence of lifestyle diseases and deeper insurance penetration, this sector will continue to grow exponentially, becoming a $12 billion industry by 2015, according to the Dubai Chamber of Commerce & Industry,” he says. “The UAE seeks to promote itself through the development of healthcare tourism, attract-ing patients to its premium facilities from around the region. The government and the government-subsidised insurance schemes also recognise the opportunity to save costs by treating the national population at home, rather than paying for expensive treatment abroad as has been common previously. This forecast growth has fuelled a significant increase in both public and private sector investment in healthcare facilities with high-profile names, such as Cleveland Clinic, John Hopkins and Mayo Clinic now operating in the UAE.”

2015 PREDICTIONSHourani believes that investors will be very cautious this year about investing in real es-tate or stock markets due to the continuous impact and effect of the international reces-sion in Europe, the sanctions against Russia, and ongoing instability in the region. “It will

have an impact on the retail, hospitality and tourist sectors within the UAE, he says. “However, in my opinion, the UAE and other GCC governments will continue to support their economies by utilising the reserves available to them and maintain public expen-diture levels, including upgrades to educa-tion, healthcare and flagship infrastructure projects.”

Most GCC governments, including the UAE, have made a substantial commitment to their expenditure budgets for infrastruc-ture projects, and this is one sector which will create a substantial amount of op-portunity including rail, roads and airports in the region,” says Hourani. “The govern-ment is committed to providing the right infrastructure for business to establish and grow here. We’re seeing more investment by the government in the expansion of air-ports, telecommunication services, roads, hospitals, schools and so on. Supporting this is also the introduction of new laws and regulations that were needed including the new commercial companies law, bankruptcy law, antitrust law and the investment law. In addition to this, the government is facilitating the set up and renewal of business licences electronically and has introduced state-of-the-art software for business to access all

government services electronically which in turn makes it easier to do business here.”

According to Haoula of BSA, more regula-tions in real estate will be imposed to bring the real estate market into maturity. “We will also see more regulations for the public listing on the secondary market that will see more investments and liquidity in the said market,” he says, “Also, we will see a healthy adjustment to the real estate market that will help the city development flourish. We will see a surge in listings on the secondary stock market, and we will see more investors acquiring local SMEs.”

LEGAL SECTOREven though the UAE has seen some office closures by foreign firms in the recent past, the legal sector continues to remain very competitive with more than 75 international law firms in Dubai alone, and this number is growing. “We have seen more competition with the UAE attracting not only the global firms but also firms from Europe, Asia, Africa and [the] Middle East,” says Hourani of Al Tamimi. “This competition is also providing clients with greater choice in all areas of legal services. The market is also opening up to fa-cilitate the establishment of Asian law firms who wish to provide support to their clients who are doing business here. We are also seeing increased interest from firms based in Italy, Spain, France and Germany. These firms are not global, but they are among the largest in their own jurisdictions and their move to establish a presence here has become necessary in order to better serve their clients. We expect the competition to continue to grow.”

To remain ahead of the pack, Hourani says Al Tamimi’s strategy has first been to ensure that its clients have access to the legal services the firm provides in all Middle East countries that they are doing business in. “As a result, we have opened offices in all GCC countries, with Bahrain being the final one to open in October 2014, and we have offices in Iraq and Jordan,” he says, “We are also the only firm that has rights before local courts in every jurisdiction where we have a presence. We have also established a number of sector-focused practice groups to reflect the growing needs of the market, our existing clients, and new clients coming to the region.”

Haoula, on the other hand, says there is “really no strategy” to stay ahead. “We have expertise, knowledge and access to Dubai that no international firm can have access to,” he says.

REUTERS/Ahmed Jadallah

Q&A28 ASIAN LEGAL BUSINESSJANUARY 2015

DAVID RIVKIn, THE nEW InTERnATIOnAL BAR AssOCIATIOn (IBA) PREsIDEnT,sPEAKs TO KANISHK VERGHESE ABOUT HIs nEW ROLE, THE IBA’s

ROAD MAP AnD ARBITRATIOn TREnDs In AsIA

‘ASIAN LAWYERS WILL PLAY AVERY IMPORTANT ROLE IN HELPING

ARBITRATION BECOME MORE EFFICIENT’

ALB: Congratulations on being elected the new president of the IBA. Could you describe what your new role will entail, and the key goals in your roadmap for the next few years?Rivkin: I am very excited about the opportunity to be the president of the IBA. I will spend the majority of my time working on IBA matters, but will continue to represent clients on international arbitrations and international litigation. I will, of course, be supporting many of the IBA’s on-going projects related to the rule of law, human rights and business law. In addition, I have five particular priorities on which I will be spending my time:

1) To continue the work of the Climate Change Justice and Human Rights Taskforce, which issued a report in Tokyo describing the legal issues arising from climate change. The report contains several dozen specific recommendations that can, and should, be taken by the legal community, the United Nations, national governments, corporations and others. I will work with the various committees within the IBA to further that work and to try to implement as many of those recommendations as we can.

2) A focus on corruption in the judiciary where it occurs. The IBA already has a very strong anti-corruption programme. It has conducted trainings in more than 30 countries around the world, helping lawyers focus on combating corruption and in recognising corruption when they see it. We want to expand that work to create a new project that will assist in reducing corruption in the judiciary around the world. We are going to con-vene a panel of experts early next year to determine the best way for the IBA to

do that. One possibility could be to look at those countries where judicial cor-ruption has been significantly reduced and to determine what practices they put in place, and then encourage those practices in other parts of the world.

3) To continue the work of the taskforce on human trafficking. We are going to undertake training programmes in three countries over the next two years, which will focus on identifying human traffick-ing and the steps that can be taken to better enforce laws against trafficking.

4) Establish a taskforce to look at chal-lenges to the independence of the legal profession. Unfortunately, there are too many countries that are threaten-ing to bring the Bar within government

control, which threatens our ability to practise independently as lawyers and to represent our clients adequately and appropriately. We have also seen some governments undermine the attorney-client privilege and even engage in spy-ing on lawyers when they are engaged in lawsuits against the government. We want to bring together all the aspects of the IBA – the individual members, the Bar associations, the Human Rights Institute – to examine these issues and to see what we can do to resist those challenges.

5) Finally, next year is the 800th anniver-sary of the Magna Carta. The principles of the Magna Carta remain vitally impor-tant, so we are going to have a number of projects and conferences to celebrate that anniversary. We will be present-ing or participating in conferences in London, Cape Town, Delhi and Buenos Aires.

ALB: How is the IBA involved in raising awareness and educating the business community in Asia on international arbitration?Rivkin: The Arbitration Committee and the IBA’s Asia Pacific Forum together formed the Asia Pacific Arbitration Group (APAG) in 2013. APAG held its first conference in Sydney in 2013, and it will host a number of conferences and programmes in Asia each year. It is designed to provide a forum for Asia-based arbitration practitioners to meet on a regular basis and to consider particular issues that arise in Asia. They have established working groups to focus on particular issues, such as harmonising arbitration laws around Asia, and at the same time, they will work on promoting the broad soft law that the IBA Arbitration

Q&A 29WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

Committee has created, such as the guidelines on party representation in international arbitration and guidelines on conflict of interest for arbitrators. Those are enormously important documents, and the more the business community becomes comfortable with them and believes that arbitration is conducted in a fair and neutral manner, the more comfortable they will feel about undertaking arbitration in Asia.

ALB: What are the key international arbitration-related trends you are seeing in Asia?Rivkin: International arbitration is growing tremendously in Asia, and in Korea in particular. We have seen a change over the last few years with Asia-based companies no longer feeling the need to head to Europe or North America to conduct their international arbitrations. Similarly, parties from the rest of the world feel perfectly comfortable seating their arbitrations in Asia. The two most common seats at the moment are Singapore and Hong Kong. But we are also seeing more cases in Seoul and in Tokyo, and I think that trend will continue.

In addition, a number of countries have seen the benefits that Singapore has reaped

from creating such a good venue at Maxwell Chambers. The number of people that each arbitration brings to the country – and the amount of money they spend – is very good for the economy. The Seoul International Dispute Resolution Centre (SIDRC) is defi-nitely a part of that trend, and it will be very good for Seoul.

ALB: Could Seoul become a viable alternative to Singapore and Hong Kong for international arbitration?Rivkin: It could be. I have been very impressed with the SIDRC’s physical facilities and technology available to the parties. For parties from civil law jurisdictions within Asia, Seoul can become a very popular venue, and this will continue to grow. It could also be a venue for common law jurisdictions, but I suspect that parties from those jurisdictions would feel more comfortable arbitrating in Hong Kong or Singapore, simply because if the dispute ends up in the courts, they will be more comfortable in an English language court there.

ALB: Are there any challenges to the growth of arbitration in Asia?Rivkin: There are two major challenges. One is a challenge that exists worldwide:

“PARTIEs FROM THE REsT OF THE WORLD FEEL PERFECTLY COMFORTABLE sEATInG THEIR ARBITRATIOns In AsIA. THE TWO MOsT COMMOn sEATs AT THE MOMEnT ARE sInGAPORE AnD HOnG KOnG. BUT WE ARE ALsO sEEInG MORE CAsEs In sEOUL AnD In TOKYO, AnD I THInK THAT TREnD WILL COnTInUE.”

namely, that arbitration is often too long and too costly for parties who need to resolve their disputes more quickly in 21st century commerce. A couple of years ago, Debevoise & Plimpton put out the Debevoise & Plimpton Protocol to Promote Efficiency in International Arbitration, where we laid out 25 particular steps that can be taken in arbitrations to make them more efficient. A number of institutions have modified their rules to create more flexibility and tribunal control to promote more efficiency, which is a good step. But a global challenge to arbitration is to continue that trend towards efficiency and to make sure that parties can find more direct and efficient ways to resolve their cases.

A more Asia-specific challenge is that there are some countries in Asia where par-ties are not comfortable that awards will be enforced in the courts, and that needs to be remedied. Investors need to have confidence that they will be treated fairly and neutrally, and that an award against a party from that country will in fact be enforced if they should win one in arbitration.

ALB: What lies in store for international arbitration in the years to come?Rivkin: I think the volume of international arbitrations in Asia will continue to grow. The strongest economies in the world are here in Asia. As Asian companies continue to expand and invest around the world, it will inevitably lead to some disputes, which will lead to more international arbitrations in Asia. More importantly, Asian businesses are becoming more knowledgeable about the rights that they may have under bilateral investment treaties (BITs), and more comfortable using them, particularly as they invest in other parts of the world. I think we will, therefore, see an increasing number of BIT claims brought by Asian parties.

ALB: It will also be interesting to see how quickly the challenges you mentioned previously will be addressed in the coming years.Rivkin: I agree. The Asian traditions of mediation and conciliation fit enormously well into the context of finding more efficient ways to conduct arbitration. My hope and my expectations are that Asian lawyers will play a very important, if not dominant, role in helping arbitration become more efficient throughout the world.

INTELLECTUAL PROPERTY30 ASIAN LEGAL BUSINESSJANUARY 2015

InDOnEsIA IP:

WITH THE FORMATIOn OF THE AsEAn ECOnOMIC COMMUnITY sLATED FOR LATE 2015, AsEAn MEMBERs ARE sEEKInG TO MODERnIsE THEIR IP REGIMEs TO MEET KEY OBJECTIVEs sET OUT In THE AsEAn InTELLECTUAL PROPERTY RIGHTs ACTIOn PLAn. InDOnEsIA, AsEAn’s LARGEsT ECOnOMY AnD MOsT POPULOUs COUnTRY, HAs BEEn CRITICIsED FOR ITs WEAK IP REGIME AnD ITs RELATIVELY TOOTHLEss EnFORCEMEnT EFFORTs. THE COUnTRY Is TAKInG MAJOR sTRIDEs TO DIsPEL THOsE VIEWs BY AMEnDInG ITs COPYRIGHT LAW, TABLInG sIGnIFICAnT CHAnGEs TO ITs TRADEMARK LAW AnD RAMPInG UP ITs EnFORCEMEnT ACTIVITY. KANISHK VERGHESE REPORTs

MOVING TOWA

ASEAN’s 10 member nations are set to form the ASEAN Economic Co m m unit y ( A EC ), a s in gle harmonised market similar to

the European Union, by the end of 2015. According to the ASEAN Intellectual Property Rights Action Plan 2011-2015, AEC members are required to modernise their IP regimes and accede to the Madrid Protocol, a filing treaty for the international registration of trademarks.

Indonesia stands as ASEAN’s most popu-lous country and largest economy. However, its murky intellectual property laws and low levels of enforcement activity have put the country’s IP regime under the micro-scope. Despite these concerns, Indonesia is ASEAN’s top filer of patent and trademark applications. Furthermore, according to the World Economic Forum’s 2014-2015 Global Competitiveness Report, Indonesia ranked 43 out of 144 countries for IP protection in the Global Competitiveness Index, 12 places higher than in the previous year. Most im-

portantly, the Indonesian government is taking major steps to boost its IP regime by enacting a new Copyright law in September last year and tabling a draft amendment to its Trademark law. The new laws are aimed at offering further protection for IP owners and harmonising Indonesia’s IP regulations to comply with international standards.

THE TRADEMARK BLUEPRINTThe draft trademark law, which is expected to be approved this year, provides protec-tion for non-traditional marks including 3-D, hologram, sound and smell marks, and includes changes to the trademark renewal process, as well as clearer guidelines on preparing requests for preliminary injunc-tions. Furthermore, the draft law seeks to change the trademark application procedure by requiring that a three-month publica-tion stage, during which any third parties who object to a trademark application can file an opposition, take place prior to the examiner conducting a substantive examina-

INTELLECTUAL PROPERTY 31WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

An aerial view of the business district in Jakarta. REUTERS/Beawiharta

MOVING TOWA RDS THE AEC


INDONESIA’S NEW COPYRIGHT LAW

On Sep. 16 last year, Indonesia passed a new Copyright law aimed at boosting the efficiency and effectiveness of Indonesia’s copyright system, protecting copyright owners and ensuring the country ’s compliance with ratified international treaties.

Some key changes in the law include a longer period of protection for most types of copyright works from 50 years to 70 years after the death of the author, and harsher penalties and criminal sanc-tions for copyright infringement. The new provision regarding security interests over copyrights is also notable, says Lukiantono. “Copyrights can now be put under security interests in a loan agree-ment, for example. In the years to come, copyright owners will think this will help them commercialise their copyrighted works in the future,” he says.

Perhaps the most noteworthy change is the introduction of landlord liability. Under the new law, organisers of com-mercial premises, such as retail stores and shops, are prohibited from allowing the sale, distribution and/or reproduction of copyrighted works. “The new copy-right law is a definitive positive sign for Indonesia because we now have things

like landlord liability, which has never been introduced in any other IP law be-fore,” says Earterasarun. “Landlord liabil-ity will be a very good and useful mecha-nism for enforcement of the copyright law. Hopefully, this kind of momentum and landlord liability will be introduced in the current proposed trademark and patent laws as well,” he adds.

Indonesia’s new copyright law is a promising step towards improving Indonesia’s IP landscape. While some lawyers note that the wording of the law could be more specific and that some provisions in the law are too general, many agree that the key to successfully implementing this law lies heavily on the implemented regulations to be issued by the Ministry, which will ensure that all mechanisms introduced under the law can function properly. However, some lawyers and IP owners have noted that implementation guidelines can often take a long time to see the light of day, which creates a lot of uncertainty as to how certain provisions in the law will be applied. The onus now lies on the govern-ment and the IP authorities to ensure that implementation regulations are released in a timely manner.

tion. Under the current law, the substantive examination is conducted before the publica-tion period. The proposed change is aimed at lessening the burden on examiners and reducing the Indonesian Directorate General of Intellectual Property Rights’ (DGIP) trade-mark application backlog. The proposed new procedure is expected to shorten the timeframe for the substantive examina-tions of trademark application filings from a maximum of nine months to a maximum of six months, putting Indonesia in line with trademark application systems internation-ally. “The backlog that the Trademark Office is facing is largely because they currently do examinations before the publication stage. By changing the procedure to have

the publication stage first, it may help the examiners sort all the confusingly similar trademarks with the public’s help through oppositions, and gives greater reference for the Trademark Office to examine the appli-cations,” says Daru Lukiantono, a partner at Hadiputranto, Hadinoto & Partners in Jakarta. Lukiantono also notes that the proposed amendment is a familiar one, as Indonesia’s trademark law prior to 2001 required the publication stage of a trade-mark application to take place before the examination period.

SHIFTING THE BURDENHowever, the proposed change to the trade-mark filing procedure has its drawbacks.

Lawyers say that under the new method, the burden has been shifted onto the IP owner to monitor third-party applications and file an opposition in time. “If the IP owner fails to file the opposition within the publication period, they have to rest all their chances in the hands of the examiner,” says Somboon Earterasarun, director of Tilleke & Gibbins’ Jakarta office, which opened in September 2013. If an IP owner misses the window to file an opposition and the examiner approves the trademark application, then the only way to invalidate or cancel the approved trademark is to go through Indonesia’s commercial court. “Most IP owners do not favour court litigation because it is a lengthy and costly process. With that in mind, it is relatively difficult to have a registered trademark can-celled or invalidated in Indonesia,” claims Earterasarun.

Furthermore, the change in the trade-mark application procedure could indi-rectly attract more bad-faith applications

in Indonesia, where trademark squatting is already rampant. Earterasarun advises trademark owners to closely and actively monitor trademark applications in order to file oppositions during the three-month win-dow. “The main concern is to file the opposi-tion in time and to get the market intelligence to get that source of information,” he says.

For his part, Ilya Umanskiy, Associate Managing Director of the security risk man-agement team at Kroll, a risk consulting firm, suggests several other steps that IP owners can take to minimise risk and protect their IP portfolios. “Start by creating proper controls within management structures, understanding and prioritising IP assets in all forms, continuously educating and monitoring activities of employees and third parties, setting up robust and organisation-wide incident reporting and management mechanisms, and building formal liaisons with peer organisations and government agencies,” he says.

“MOsT IP OWnERs DO nOT FAVOUR COURT LITIGATIOn BECAUsE IT Is A LEnGTHY AnD COsTLY PROCEss. WITH THAT In MInD, IT Is RELATIVELY DIFFICULT TO HAVE A REGIsTERED TRADEMARK CAnCELLED OR InVALIDATED In InDOnEsIA.”Somboon Earterasarun, Tilleke & Gibbins

MARCH

Malaysia Law Awards – Kuala LumpurMalaysia IP Summit – Kuala LumpurGuangzhou In House Legal Summit – GuangzhouAnti-Corruption Hong Kong – Hong KongSouth East Asia In House Legal Summit – SingaporeASEAN Integration Summit – Singapore

APRIL

ALB China Law Awards – BeijingChina Anti-Corruption Forum – ShanghaiPhilippines In House Legal Summit – Manila

MAY

ALB South East Asia Law Awards – SingaporeAsia Data Protection Forum – SingaporeIndonesia In House Legal Summit – Jakarta

JUNE

ALB Japan Law Awards – TokyoShanghai In-House Legal Summit – ShanghaiSouth East Asia Project Finance Forum – SingaporeJapan IP Summit – Tokyo

AUGUST

Malaysia In-House Legal Summit – Kuala Lumpur

SEPTEMBER

The Macallan ALB Hong Kong Law Awards – Hong KongHong Kong In-House Legal Summit – Hong KongSingapore Anti-Corruption Forum – Singapore

OCTOBER

ALB Indonesia Law Awards – JakartaKorea In House Legal Summit – SeoulKorea IP Summit – Seoul

NOVEMBER

ALB Korean Law Awards – SeoulJapan In House Legal Summit – TokyoKen Adams Contract Masterclass – SingaporeKen Adams Contract Masterclass – JapanKen Adams Contract Masterclass – SeoulBeijing In-House Legal Summit – Beijing

ALB 2015 SCHEDULENOW RELEASEDCovering key topics and shining a light on the best and brightest in the legal industry, ALB will once again bring attendees from across the legal industry to learn, network and celebrate expertise at the series of summits, conferences and award nights.

With an unrivalled track-record in Asia for providing industry-leading speaker faculties and offering an ideal forum for networking with fellow industry experts across the legal and compliance field we look forward to meeting you at one of our events in 2015.

For more details of topics, please [email protected] and for speaking or sponsorship opportunities, please [email protected] or callAmantha on +65 6870 3917

WWW.LEGALBUSINESSONLINE.COM/EVENTS


INDONESIA ON TRACK?One of the key motivations behind revising the trademark law is to enhance Indonesia’s IP regime to comply with international stan-dards, and to recognise the country’s acces-sion to the Madrid Protocol by the end of 2015. As it stands, Singapore, Vietnam and the Philippines are the only three ASEAN members to have acceded to the Madrid Protocol. A new provision in Indonesia’s draft trademark law briefly mentions the applica-tion for registration of international trade-marks under the Madrid Protocol. While the provision recognises that the Madrid Protocol route is applicable, IP owners still have to wait for further implementation regulations detailing the process for filing a trademark under the new system, lawyers say. However, new implementation regula-tions have yet to be discussed or announced. Given this information, will Indonesia be able to meet its IP-related goals set out by the AEC by the end of 2015? Technically, it can, says Earterasarun. “The trademark law can be passed in 2015, and the Madrid Protocol will be applicable. But this doesn’t neces-sarily mean that an applicant will be able to file an international application through the Madrid route this year, because imple-

mented regulations need to be issued first,” says Earterasarun.

Lukiantono agrees: “The most important changes in the draft law are the protection of non-traditional marks and Indonesia’s accession to the Madrid Protocol. However, it is more a matter of implementation, and whether the Trademark Office is ready and able to handle these changes.”

ADDRESSING CONCERNSWhile Indonesia’s IP legislation is starting to fall into place, the country continues to grapple with a lack of enforcement activ-ity and endemic corruption. “The short to medium-term effects of the new legislation are likely to be limited because of Indonesia’s on-going challenges with governance, cor-ruption and organised crime. The challenge lies in the ability to consistently implement and enforce desired controls as it takes time to engrain a different – more cognisant and compliant – culture,” says Umanskiy. In an article written by Nick Redfearn, a partner and deputy CEO of Rouse, he says that police statistics show that only a few hun-dred IP violation cases a year are brought in Indonesia, compared to the thousands of cases brought in the Philippines and Thailand.

Some steps have been taken to alleviate these problems. The DGIP issued regula-tions last July to tackle corruption issues, and has voiced its intention to introduce new IP enforcement measures this year. In addition, the proposed new trademark law features increased penalties and tougher criminal sanctions against trademark in-fringers and counterfeiters.

Despite a few speed bumps, Indonesia seems on track to meet its IP goals by the end of 2015. For his part, Lukiantono says the DGIP has to commit if they want to achieve the AEC’s goals. “The IP office has to be ready if they want to be a part of this, and they need to be able to keep up with the other ASEAN countries. I think they can if they want to. It is a matter of preparing professionally and having the necessary training before the end of 2015,” he says. IP practitioners note that the election of Indonesia’s new President Joko Widodo last October heralds a positive sign for the country’s economy and IP industry. With a new copyright law in place and a revised trademark law in the works, coupled with the government’s support and increased en-forcement efforts, the future of Indonesia’s IP industry looks promising as the country moves towards a new era.

“THE MOsT IMPORTAnT CHAnGEs In THE DRAFT LAW ARE THE PROTECTIOn OF nOn-TRADITIOnAL MARKs AnD InDOnEsIA’s ACCEssIOn TO THE MADRID PROTOCOL. HOWEVER, IT Is MORE A MATTER OF IMPLEMEnTATIOn, AnD WHETHER THE TRADEMARK OFFICE Is READY AnD ABLE TO HAnDLE THEsE CHAnGEs.”Daru Lukiantono,Hadiputranto, Hadinoto & Partners

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TAX36 ASIAN LEGAL BUSINESSJANUARY 2015

JAPAn’s RULInG COALITIOn APPROVEs CORPORATE TAX CUTs TO BOOsT THE ECOnOMY,REPORT KAORI KANEKO AnD YUKO YOSHIKAWA

GROWTH IN FOCUS

Japan’s ruling coalition has approved a tax reform plan that will cut corporate taxes from April and pledges further reductions in coming years in a bid by

Prime Minister Shinzo Abe to boost profit-ability and bolster economic growth.

The plan approved by Abe’s Liberal Democratic Party and its coalition partner Komeito last month would cut the overall ef-fective corporate tax rate by 2.51 percentage points to 32.1 percent from April and then to 31.3 percent the following year.

Abe pledged in June to lower the corporate tax rate to below 30 percent over the coming years to help pull Japan out of nearly two decades of deflation. Earlier this year, he eliminated a levy on companies imposed in 2012 to help fund disaster relief.

Takeshi Noda, chairman of the LDP’s tax panel, estimated that the corporate tax cut would amount to about 400 billion yen ($3.32 billion) over the next two fiscal years.

Abe hopes the tax cuts will encourage companies to raise wages, which would spur consumer spending, and to invest some of the $1.9 trillion in cash held by companies outside the financial sector.

Japan’s top effective corporate tax rate is 34.6 percent, among the highest in the major economies. The average corporate tax rate stands around 25 percent among OECD economies.

But after a decade of slow growth only about 30 percent of companies actually pay taxes. The rest are either unprofitable or have been able to apply credits from prior losses.

In a change aimed to broaden the tax base, established companies would only be able to apply losses to write off half of reported income from 2017. That limit is currently 80 percent.

The ruling coalition estimates it will be budget neutral in the third year as steps such as broadening the tax base will help cover shortfalls caused by the tax cut.

“The focus is whether companies will pass funds arising from the tax cuts to capital spending and wage increases, which will lead to economic recovery,” said Satoshi Osanai, economist at Daiwa Institute of Research.

“We think it will be difficult to achieve budget neutral in the third year. And in a long-term perspective, it will be an issue how the government will secure revenues and manage fiscal reconstruction.”

Japan’s economy unexpectedly slipped into recession this year after an increase in the national sales tax in April hit consumer spending.

The tax plan recommits to a further in-

crease in that consumption tax to 10 percent from 2017.

It also expands the Nippon Individual Saving Account program, which launched this year. That program allows individual in-vestors to invest up to 5 million yen in stocks without being subject to taxes.

The changes will allow larger annual investments and allow for investments on behalf of children.

GOVERNMENT OKS $26 BILLION EXTRA BUDGET TO FUND STIMULUS SPENDING

The Japanese government this month approved a $26 billion extra budget for the current fiscal year to fund stimulus spending and help pull the economy out of recession.

The 3.118 trillion yen extra budget for the stimulus, unveiled last month, in-cludes funding for steps such as helping Japan’s lagging regions and households with subsidies and shopping vouchers and rebuilding after natural disasters.

The extra expenditure comes on top of the initial outlay of 95.9 trillion yen, bring-ing the total amount of this fiscal year’s general-account budget spending to 99 trillion yen, highlighting Japan’s struggle to fix dire public finances.

“This budget is well-focused in terms of speedily responding to weak and fragile spots in the economy,” Finance Minister Taro Aso told reporters after a cabinet meeting. “I think it meets the aim of re-viving the economy and rebuilding public finances.”

In a show of commitment to fiscal reform, the government will not resort to fresh borrowing, while cutting new bond issuance by 757.1 billion yen from the initially planned 41.3 trillion yen for the current fiscal year ending in March.

Tokyo will fund the package with un-spent money from previous budgets and tax revenue that have exceeded budget forecasts. Corporate profits have been boosted by aggressive monetary and fis-cal stimulus policies under Prime Minister Shinzo Abe, even as the broader economy has struggled.

Higher profits by companies helped tax income in the current fiscal year increase by 1.725 trillion yen from the initially estimated 50.0 trillion yen. That marks the highest level in 17 years, allow-ing Tokyo to cut new bond issuance from the initially planned amount for the first time in eight years.

Japan must strike a delicate balance between reviving an economy that tipped into recession after a sales tax hike last April and reining in snowballing public debt that is twice the size of its economy, by far the largest in the developed world.

The world’s third-largest economy is expected to have returned to growth in the final quarter of last year after two straight quarters of contraction.

The government expects the stimulus to boost Japan’s gross domestic prod-uct by 0.7 percent, while private-sector economists see a smaller impact.

By TETSUSHI KAJIMOTO

EVENT 37WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business TAX AWARDS 37WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

FINALISTS REVEALEDIN-HOUSE AWARD CATEGORIESIn-House Tax Team of the Year

• GEJapanCorporationTax• RakutenGlobalTaxTeam

LAW FIRM AWARD CATEGORIESTax Dispute Law Firm of the Year

• Baker&McKenzie(GaikokuhoJointEnterprise)• NagashimaOhno&Tsunematsu• Nishimura&Asahi• TMIAssociates

Tax Dispute Lawyer of the Year

• HideyukiYamamoto–Baker&McKenzie(GaikokuhoJoint Enterprise)

• YukoMiyazaki–NagashimaOhno&Tsunematsu• HidehiroUtsumi–TMIAssociates

Tax Law Firm of the Year

• Baker&McKenzie(GaikokuhoJointEnterprise)• DLAPiperTokyoPartnership• JonesDay• MoriHamada&Matsumoto• Morrison&FoersterLLP• NagashimaOhno&Tsunematsu• Nishimura&Asahi

TAX & ACCOUNTINGAWARD CATEGORIESBig Four Tax Team of the Year

• DeloitteTohmatsuTaxCo.• Zeirishi-HojinPricewaterhouseCoopers

Indirect Tax Team of the Year

• Sonderhoff&Einsel• TokyoKyodoAccountingOffice

International Tax Team of the Year

• GrantThorntonTaiyoTaxCorporation• Hanai&Associates• TokyoKyodoAccountingOffice

Winners of the Japan Tax & Accounting Awards will be announced in the February edition of Asian Legal Business For more information on these awards, please contact Colin at [email protected]

SUPPORTED BY PROUDLY PRESENTED BY

TAX & ACCOUNTINGAWARDS

IN-HOUSE SUMMIT38 ASIAN LEGAL BUSINESSJANUARY 2015

Nearly 100 in-house counsel and private prac-titioners attended the annual Japan In-House Legal Summit, held at the Keio Plaza Hotel in Tokyo on Nov. 18, to hear from a range of distinguished speakers on topics and issues af-fecting both local and international businesses and the legal industry in Japan.

The summit kicked off with welcoming remarks from the event chair Yoichiro Itakura, former privacy officer of the Japanese gov-ernment’s Consumer Affairs Agency, while Takayuki Kitajima, board member of the International Corporate Counsel Association and general counsel of Unilever Japan Holdings in Japan and Korea, delivered the keynote opening address on legislative de-velopments in the country and the establish-ment of the International Corporate Counsel Association. Itakura noted that over the past several years, Japanese legislation has become increasingly complicated in certain industry sectors, and that antitrust regulators and other authorities are ramping up enforcement activities. He also added that the country has become more consumer protection oriented, citing the establishment of Japan’s Consumer Affairs Agency in 2009.

Allan Smith, former president of the American Chamber of Commerce Japan and vice-president and assistant general counsel of RGA Reinsurance Company, also gave a keynote opening speech on the strategies and challenges in addressing recent regulatory and legislative reforms in Japan’s private sector.

The summit’s first panel was headed by Scott Warren, general manager and head of Epiq Systems eDiscovery Solutions in Japan, who described the eDiscovery process, dis-cussed best practices for gathering digital evi-dence, and presented several eDiscovery tools to help analyse data. Warren noted that the use of eDiscovery in cases worldwide is increasing,

and highlighted the importance of gathering, using and understanding digital evidence. In fact, the law in certain jurisdictions can require parties to come up with digital evidence that is relevant to the case, he said. “When you fail to do that, there are some big implications. I’m finding more and more cases in the United States being decided on the failure to provide

(Clockwise from top) Tatsuhiko Kamiyama, member of the British Chamber of Commerce, moderated the interactive panel discussion on the strategic role of Japan’s in-house counsel. To his right, Mitsuru Claire Chino (ITOCHU), naoya Bessho (Yahoo! Japan), Reinhard schu (KVH), Kaori Miyake (schneider Electric), and Andrew Thorson (nissan Motor); Panel Discussion on Intellectual Property management (left) Takayuki Kitajima, Unilever Japan (center) Mizuho Kageshima, Coach Japan, (right) Takamiki nishikawa, Fox International Japan; General Manager of Epiq systems solutions, scott Warren, during the first plenary session

IN-HOUSE SUMMIT 39WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

information and not on the actual facts of the case,” said Warren, who emphasised his point by analysing several recent relevant studies involving large multinational companies. In his takeaway points, Warren stressed that it is critical to create a project team from across the company, and international legal and technology experts to effectively handle eDiscovery issues.

Unilever Japan’s Kitajima returned to the stage to moderate a panel on applying repu-tation management tools as a part of overall brand protection for companies, which also featured Mizuho Kageshima, senior legal direc-tor at Coach Japan, and Takamiki Nishikawa, senior legal counsel at Fox International (Japan). The panelists agreed that adopting a proactive rather than a reactive approach is key to protecting the brand and reputation of a company, and to help combat counterfeiting and online piracy. Internet search engines too have to be more proactive at monitoring and blocking infringing content, said Nishikawa, who added that a majority of his work at Fox International focuses on copyright infringe-ment and online piracy issues. However, both Nishikawa and Mizuho noted that resources for in-house legal teams are often limited. “Legal is essentially a cost centre, so we have to justify every penny. Limited resources is a given, and the question is how can you utilise your resources in the best possible manner,” Nishikawa said.

Mizuho noted that because resources are very limited, her in-house team often looks for external help. “We collaborate a lot with police and customs, and also work closely with monitoring and quality control assurance teams,” said Mizuho.

In the session just after lunch, John Paul Huntington Vigman, general counsel at Veolia Japan KK, spoke about mastering international concession, gauging key issues in a concession agreement and its related financing matters, managing risk allocation, force majeure and contract termination, and evaluating the effects of tariffs and taxes on concession agreements.

The final panel of the day was moder-ated by Tatsuhiko Kamiyama, partner at Clifford Chance in Tokyo, and included Andrew Thorson, global general counsel at Nissan Motor, Kaori Miyake, general counsel at Schneider Electric, Mitsuru Claire Chino, general manager of the legal division at Itochu Corp, Naoya Bessho, general counsel at Yahoo! Japan Corp, and Reinhard Schu, vice-president and general counsel at KVH. The panelists spoke on aligning strategic in-terests and regulatory compliance in Japan, managing data protection and privacy, and weighed the pros and cons of conducting in-ternational arbitration in Japan. The panelists also discussed the evolving role of in-house counsel and career progression options for the in-house community. Miyake of Schneider Electric said that there is no question that the role of in-house lawyers in Japan has evolved from that of a legal adviser to a more encom-passing role of business strategist. Chino noted that Itochu’s in-house team is becoming increasingly involved in the business strategy process. “Because of the amendment to the Company Law, we have more opportunities to advise our management on whether our governance structure is the best structure for us, or whether we should be moving to another form,” said Chino.

Morning networking session in full swing

WO RK S H O P S P O N S O R

Epiq Systems is currently the largest provider of legal technology services to corporations and the law firms that represent them. With offices across the world and processing and hosting in Japan, Hong Kong, Shanghai, the US, Canada and the UK, Epiq is uniquely situated to handle global and local digital evidence issues from simple to complex. Epiq can also uniquely provide behind-the-firewall services to those requiring data be kept on the premises. In addition, Epiq provides expert document review services across the globe and in multiple languages allowing for cost-effective, defensible and speedy reviews. Epiq has document review centers in Japan, Hong Kong, the US, the UK and Canada.

COnTACT DETAILs11-5 Nibancho, 5th Floor, Chiyoda-ku, Tokyo, Japan 102-0084Tel: +81 (0)3 4511 3300E-mail: [email protected]

A SS O CI ATE S P O N S O R

S U P P O RTI N G O RG A N I S ATI O N S

ALB S U PP O RT S

PRO U D LY PRE S E NT E D BY

O N LI N E LEG A L RECRU IT M E NT S P O N S O R

EVENT40 ASIAN LEGAL BUSINESSJANUARY 2015

BUsInEss OF IP FORUM In HK ATTRACTsMORE THAn 2,000 DELEGATEsMore than 2,000 intellectual property buy-ers and sellers, R&D professionals, lawyers and design and technology practitioners at-tended the fourth annual Business of IP Asia Forum, held at the Hong Kong Convention and Exhibition Centre on Dec. 4 and 5. The forum, co-organised by the Hong Kong SAR Government, the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Design Centre, featured an exhibition as well as more than 25 workshop panels with about 80 prominent speakers.

Speaking at the forum’s opening ceremo-ny, HKTDC Executive Director Margaret Fong said the transition to a knowledge-based global economy is gathering pace and placing more focus on the business of IP industry in Asia. “Whoever coined the phrase ‘penny for your thoughts’ would never have imagined that the business of IP industry would evolve into a multibillion dollar industry,” Fong said.

Also speaking at the opening ceremony, Hong Kong’s Chief Executive CY Leung said the government had taken on the role as a co-organiser of the event for the second year in a row. “We are doing so because we are passionate about IP and the critical role it plays in enabling IP innovation and invest-ment,” Mr. Leung said. “Today, creations of the mind in the form of patents, trademarks, copyright, designs and trade secrets inspire business, catalyse competition and promote a business environment where businesses showing innovation can thrive. The implica-tions of IP for Asia are particularly enticing, given the continuing economic shift from West to East. We are firmly committed to making Hong Kong the IP business trading hub of Asia,” Mr. Leung concluded.

Wang Binying, the World Intellectual Property Organisation’s (WIPO) deputy di-rector general, State Intellectual Property Office of the People’s Republic of China Deputy Director Zhao Zhibin and World Trade Organisation Intellectual Property Division Director Antony Taubman also spoke at the opening ceremony. Wang shared some of WIPO’s statistics from 2013 to highlight the importance of IP and its relationship with economic development. According to WIPO, patent filings in 2012 increased by 9 percent

from 2011, the largest growth in five years. Residents of China accounted for the largest number of patents filed worldwide in 2012. Filings for trademarks and industrial designs also grew by 6 percent and 17 percent in 2012, respectively.

The event’s first plenary session ana-lysed how innovation drives corporate growth and how a robust IP system can incentivise companies to innovate, and fea-tured Dr. Joo Sup Kim, vice-president of LG Electronics’ Intellectual Property Centre, Toshimoto Mitomo, executive vice-president of Sony Corporation of America’s Intellectual Property Department, and Brian Hinman, chief intellectual property officer at Royal Philips. The panelists agreed that busi-nesses should focus on the quality of their IP portfolios rather than the quantity, and that IP strategy should be embodied in the

business strategy of a company. “The role of IP has become much more important and valuable than before. Without IP, businesses cannot survive at all,” said Dr. Kim, who also stressed the importance of investing in R&D.

Mitomo agreed, noting that Sony’s R&D costs in 2013 amounted to $4.4 billion worldwide. “We invent the things which we are good at. We understand where our weak-nesses are, and find partners and investment to fill the weaknesses,” he said. For example, in China, Sony has several collaborative relationships with universities and research institutes, Mitomo added.

Numerous breakout sessions followed the plenary sessions, which covered specific IP-related topics including legal services, IP valuation, IP licensing and monetisation, film copyright trading, arbitration and dispute resolution, auditing and a comparison of dif-

The Hon C Y Leung, Chief Executive of Hong Kong special Administrative Region of the People’s Republic of China, speaking at the opening ceremony.

EVENT 41WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

(Above) BIP Forum Day One (Left) Breakout session on IP dispute resolution through arbitration and mediation

ferent IP regimes in Asia. One key breakout session examined the best practices for han-dling IP dispute resolution through arbitration and mediation. The panel was moderated by C. K. Kwong, convenor of the Hong Kong government’s IP Arbitration and Mediation sub-group, and featured John Budge, vice-chairperson of the Hong Kong International Arbitration Centre, Winnie Tam, council

member of the Hong Kong Bar Association, and Dr. Emmanuel Gillet, teaching fellow at HK Polytechnic University. “The more we become aware of IP rights, the more disputes we have, and the greater the need for dispute resolution,” said Kwong.

Budge noted that according to WIPO’s 2013 International Survey on Dispute Resolution in Technology Transactions, which assesses

the current use of alternative dispute resolu-tion methods compared to court litigation in technology-related disputes, arbitration was selected in 30 percent of dispute resolution clauses, while traditional court litigation was chosen by 32 percent of the survey re-spondents. Budge also walked the audience through examples of contract negotiations, and weighed the pros and cons of arbitration in comparison to litigation. He argued, us-ing findings from WIPO, that arbitration is a much faster and cheaper dispute resolution method than litigation. “Judges in national courts might not always be familiar with the IP concepts in dispute. In arbitration, parties can choose arbitrators with an expert background in the legal, technical or commercial fields which are relevant to the dispute. This is where arbitration is absolutely ideal,” said Budge.

Tam later gave an overview of IP me-diation from an advocate’s perspective, and discussed the types of cases that may lend themselves to successful mediation, as well as certain procedural steps relevant to IP mediation.

LAW AWARDS42 ASIAN LEGAL BUSINESSJANUARY 2015LAW AWARDS42

Kim & Chang emerged the runaway winner of the ALB 2014 Korea Law Awards, scooping up a total of nine awards at the second edition of the

annual event, including the Korea Deal of the Year, the Deal Firm of the Year and the Korea Law Firm of the Year.

Shin & Kim’s Sinseob Kang picked up the most prestigious individual award of the night, being named Managing Partner of the Year.

The event was held on Nov. 14 at the The Westin Chosun in Seoul, and was attended by Korea’s leading invest-ment bankers, solici-tors, in-house counsel, barristers, judiciary and business leaders.

Yulchon won four awards, including Litigation Law Firm of the Year, while Bae, Kim & Lee picked up three, including International Arbitration Law Firm of the Year. Lee & Ko won both the Banking and Financial Services Law Firm of the Year and Dealmaker of the Year (which went to Sang Gon Kim) trophies.

Among international law firms, DLA Piper was named both Overseas Practice Law Firm of the Year and Foreign Law Firm of the Year, while Allen & Overy had a part to play in the M&A Deal of the Year, Debt Market Deal of the Year and Real Estate Deal of the Year.

On the in-house side, CJ E&M Corp led with three awards, including the TMT In-House Team of the Year, Korea In-House Lawyer of the Year (won by Jay Im) and the Korea In-House Team of the Year award sponsored by Yulchon. Hyundai Heavy Industries’ legal team was named Construction In-House Team of the Year.

GUEST OF HONOURBaek, Seung-Jae

General Counsel ofKorea | Legal

Ernst&Young HanYoung

ASIAN LEGAL BUSINESSJANUARY 2015

KOREA DEAL OF THE YEARWINNER

Initial public offering of shares issued by Hyundai Rotem onthe Korean Exchange

FIRMs: Bae, Kim & Lee LLC; Cleary Gottlieb steen & Hamilton LLP; Kim & Chang;simpson Thacher & Bartlett LLP; Yulchon LLC

(L-R) Iksoo Kim; Johneth Chongseo Park, Simpson Thacher & Bartlett;Jay Hoon Choi, Cleary Gottlieb Steen & Hamilton; Young Jay Ro, Kim & Chang;

Bong Hee Han, Yulchon; Roh Mi-eun, Bae, Kim & Lee

For the FULL WINNERS LIST from the ALB Korea Law Awards 2014, visit our website: http://www.legalbusinessonline.com/korea-law-awards-2014

www.kimchang.com

Korea’s Premier Law FirmDriving Excellence to Help Clients Succeed

Korea Law Firm of the Year

Deal Law Firm of the Year

Construction Law Firm of the Year

IP Law Firm of the Year

TMT Law Firm of the Year

Korea Deal of the Year

Equity Market Deal of the Year

M&A Deal of the Year

Real Estate Deal of the Year

We are honored to have been named as ALB Korea Law Awards Winner 2014:

LAW AWARDS44 ASIAN LEGAL BUSINESSJANUARY 2015LAW AWARDS44

KOREA In-HOUsE TEAM OF THE YEAR AWARDsPOnsORED BY YULCHOn

WINNER

CJ E&M Corp

(L-R) Josephine Chung, Alice Cha, Jay H. Im, CJ E&M Corp;Bong Hee Han, Yulchon (Presenter); Timothy Yoo, CJ E&M Corp

ASIAN LEGAL BUSINESSJANUARY 2015

(L-R) Young Jay Ro, Kim & Chang;seung-Jae Baek, Ernst&Young HanYoung (Presenter)

KOREA LAW FIRMOF THE YEAR

WINNER

Kim & Chang

KOREAIn-HOUsE LAWYER

OF THE YEARWINNER

Jay H. Im - CJ E&M Corp

(L-R) Jay H. Im, CJ E&M Corp;Young Jay Ro, Kim & Chang (Presenter)

FOREIGn LAW FIRMOF THE YEAR

WINNER

DLA Piper

MAnAGInG PARTnEROF THE YEAR

WINNER

Sinseob Kang - Shin & Kim

(L-R) Yong Woo Lee on behalf ofsinseob Kang, Shin & Kim;

Young Bang, Thomson Reuters (Presenter)

(L-R) DK Donghyun Kim, DLA Piper;Adrian Wong, Thomson Reuters (Presenter)

LAW AWARDS 45WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business LAW AWARDS 45WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business

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AWARD SPONSOR

Yulchon is a full-service international law firm headquartered in Seoul, Korea. We employ over 360 professionals, including more than 60 licensed in jurisdictions outside of Korea. Yulchon advises on a full range of specialized practice areas, including corporate, finance, antitrust, tax, real estate and construction, dispute resolution, and intellectual property.

CHANG ROK WOO, ChairmanSAI REE YUN, Managing Partner

Tel: +82 2 528 5200Fax: +82 2 528 5228Email: [email protected]: www.yulchon.com

SPONSOR

ALB SUPPORTS

PROUDLY PRESENTED BY

SUPPORTING ORGANISATION

46 ASIAN LEGAL BUSINESSJANUARY 2015IN-HOUSE SUMMIT

More than 80 of Korea’s leading corporate counsel attended the ALB Korea In-House Legal Summit this year, held on Nov. 13 at the Lotte Hotel in Seoul, which showcased topics ranging from ant-corruption and investigations to arbitration and dispute resolution (ADR) and the changing role of in-house lawyers.

After a welcome address by Sven-Erik Batenburg, head of legal and compliance at the European Chamber of Commerce in Korea, Kwon Tae-sung, standing commis-sioner of the Anti-Corruption & Civil Rights Commission, Republic of Korea delivered a speech on the present and future of Korea’s anti-corruption policies. This was followed by a keynote address by Professor Shin Hyeon Tak of the Korea University School of Law.

Scott Warren, general manager and head of Epiq Systems eDiscovery Solutions in Japan, then delivered a presentation on “An In-House Counsel’s Survival Guide to Digital Evidence.” This included tips on what to do when faced with an internal in-vestigation where most of the facts are lost in mounds of emails, computer documents and other electronic data, how to meet dis-covery obligations in Western litigation and international governmental investigations, and what technologies and services can be utilised to drastically reduce the cost of a digital investigation. Warren also shared some best practices in gathering digital evidence. “Do some advance planning,” he said. “Have spare network drives ready in the event of cybercrime, know your privacy rights, set reasonably long corporate reten-tion policies, save exiting key data for exiting employees, consider data mapping your network and plan data migration.”

On the other side of the lunch break was a presentation on alternative dispute resolution by Timothy Yoo, senior litigation counsel at CJ E&M. He touched on a number of topics, including pre-dispute dispute man-agement, how to avoid disputes and handle processes leading up to arbitration, the dos and don’ts of drafting arbitration clauses, pre-arbitral procedures such as media-

(Clockwise from top) Guest of Honour, Kwon Tae-sung, Anti-Corruption & Civil Rights Commission Republic of Korea;Dr. nicolai nahrgang, Continental Automotive Korea; Ms. sunny J Park, Microsoft Korea

47WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business IN-HOUSE SUMMIT

tion, expert determination or adjudication, catalogue of errors prior to the actual com-mencement of the arbitration, and finally, restrictions imposed by the Foreign Legal Consultant act and the Korean Attorney Act, and the implications for the dispute settle-ment environment.

The event closed with a panel discussion featuring Nicolai Nahrgang, general counsel and regional compliance officer, Continental Automotive Korea, Sunny Park, director of le-gal and corporate affairs at Microsoft Korea, Jungwook Kim, director of legal operations and business development at GSK Korea, and Jieun JE Lee, head of legal at PCA Life Korea. The panel discussed how the role of the in-house legal counsel role is now in flux, as it brings together legal and corporate in-terests while overcoming challenges posed by global regulatory compliance. Among topics touched on were how global regula-tory developments have changed the bound-aries between compliance and in-house legal teams, improving interactions with outside counsel, the in-house role the legal team plays in driving anti-corruption activi-ties within the company, and how in-house teams can be innovative in their role.

WO RK S H O P S P O N S O R

Epiq Systems is currently the largest provider of legal technology services to corporations and the law firms that represent them. With offices across the world and processing and hosting in Japan, Hong Kong, Shanghai, the US, Canada and the UK, Epiq is uniquely situated to handle global and local digital evidence issues from simple to complex. Epiq can also uniquely provide behind-the-firewall services to those requiring data be kept on the premises. In addition, Epiq provides expert document review services across the globe and in multiple languages allowing for cost-effective, defensible and speedy reviews. Epiq has document review centers in Japan, Hong Kong, the US, the UK and Canada.

COnTACT DETAILs11-5 Nibancho, 5th Floor, Chiyoda-ku, Tokyo, Japan 102-0084Tel: +81 (0)3 4511 3300E-mail: [email protected]

(Above) Mr. scott A. Warren, Epiq systems eDiscovery solutions; (Right) Mr. Timothy Yoo,CJ E &M

A SS O CI ATE S P O N S O R

ALB S U PP O RT S

PRO U D LY PRE S E NT E D BY

O N LI N E LEG A L RECRU IT M E NT S P O N S O R

S U P P O RTI N G A SS O CI ATI O N

Legal Counsel› Listed multinational

› Team based environmentOur client, a highly reputable conglomerate with multiple business streams, including energy, is seeking a highly competent legal professional to join their legal team. Reporting to the General Counsel, you will be responsible for providing full legal support and advice to the Group including drafting and reviewing agreements, attending to transactional documentation, providing value added legal advice and ensure compliance with statutory and regulatory requirements. You are Commonwealth qualified, preferably called to the Singapore Bar, with at least 4 years of PQE gained in a reputable multinational and/ or law firm and possess excellent interpersonal skills.

Transactional Lawyer› World class investment multinational

› Resources and mandate to growOur client, a distinguished firm with a track record of success and a strong mandate to expand, is currently seeking a Transactional Lawyer. You will closely partner the business and senior management on M&A deals across a wide range of industries with responsibilities including due diligence, providing legal solutions and advice on structuring deals, preparing the transaction documents, right through to the completion of the acquisition. You are Singapore qualified with at least 8 years PQE gained in a transactional role with a reputable law firm and/ or multinational. Proficiency in Mandarin (spoken and written) is essential given the inclusion of China in the portfolio.

Legal Counsel› Prestigious luxury company

› Regional roleOur client, a leader in the luxury industry is currently seeking a Legal Counsel to join their Singapore office. Reporting to the Senior Legal Director, you will be in charge of providing legal advice and supporting all the entities across the Asia Pacific region. This encompasses reviewing, negotiating a wide range of agreements and developing strategies to manage risks. You are a qualified lawyer with at least 4 years of PQE gained in private practice and/ or in-house within a well-established multinational. Prior exposure to the luxury industry is a plus.

Please contact Ng Lay Hoon (Reg. no: R1108753) quoting ref: 2573560 or visit our website.

Please contact Ng Lay Hoon (Reg. no: R1108753) quoting ref: 2564900 or visit our website.

Please contact Isis Descormiers (Reg. no: R1440080) quoting ref: 2529600 or visit our website.

To apply for any of the above positions, please go to www.michaelpage.com.sg quoting the reference number, or contact the relevant consultant on +65 6533 2777 for further details.

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SPECIALISTS IN LEGAL RECRUITMENTMICHAEL PAGE LEGAL

Get Connected. Stay Ahead.

Asian Legal Business is proud to announce that nominations are now open for the 2nd annual ALB Malaysia Law Awards.

With new categories and a revised nomination process, this year’s Awards promises to showcase Malaysia’s leading legal talent once again. Winners will be announced at a gala ceremony on March 27 in central Kuala Lumpur.

More information on the nomination process can be found on the event website http://www.legalbusinessonline.com/awards/Malaysia-law-awards-2015. For more details, please contact Caryl at [email protected] or call +632 982 5938.

nOMInATIOns nOW OPEn

PROUDLY PRESENTED BY

27 MARCHKUALA LUMPUR

DATE: 12 MARCH 2015LOCATION: KUALA LUMPUR

KEY GOVERNMENT, INNOVATORS & IP EXPERTS

AZIMAH ABDUL KADIRHead, IP Management Department,MIMOS

SUGIRTHA RAMACHANDRANGeneral Counsel, Group Legal Practice,Malaysian Airlines

DATO’ HAFSAH HASHIMCEO,SME Corporation Malaysia

RASHIDAH RIDHA SHEIKH KHALIDLegal Officer,Intellectual Property Corporation of Malaysia (MyIPO)

PETER DESMOND WEEPresident,Malaysia IP Association (MIPA)

SAMIRAH MUZAFFARConsultant, IP Valuation & IP Marketplace,Intellectual Property Corporation of Malaysia (MyIPO)

BRENDAN HANLEYIP Counsel,Western Digital

ZURAIDAH MOHD YATIMSenior Manager, IP & Regulatory Affairs,Media Prima

KWEE TIANG ANGRegional Director, Asia,IFPI

RAMANI RAMALINGAMCEO,Recording Industry Association of Malaysia (RIM)

MUHAMMAD SURIA DOSHI ABDULLAHSenior General Manager, Group Legal & Company Secretarial Department,SIRIM

MATTHEW KURLANZIKDirector, Government Relations, Asia,21st Century Fox

Biodata of R. Ramani Ramalingam CEO, RIM Group of organisations

November 2014 Mr. Ramani Ramalingam graduated with a law degree from London with honours in 1994 and was admitted as an advocate & solicitor of the High Court of Malaya in April 1997. After specialising in the practice of intellectual property law for 3 years, he was headhunted in 2000 to lead the Legal Affairs Department of the collective licensing body for the recording industry, Public Performance Malaysia Sdn Bhd (‘PPM’). He then went on to become the General Manager and later Deputy Chief Executive Officer of both PPM and the Recording Industry Association of Malaysia (‘RIM’), the national trade association representing local and international record labels in Malaysia, and which is also the Malaysian National Group of the International Federation of the Phonographic Industry (‘IFPI’) which in turn represents the recording industry worldwide. On 1 January 2014, he was appointed as the Group Chief Executive Officer of the RIM Group which includes RIM, PPM, RIM Digital Music Sdn Bhd (RDM) and Brucop Sdn Bhd (Brunei) and now leads the recording industry’s priorities in legislative lobbying, international relations, foreign trade missions, civil and criminal copyright enforcement against music piracy, organising copyright awareness campaigns, furthering the development of the music business including in the digital, live event, merchandising and artiste management arenas, hosting the national awards for the music industry - Anugerah Industri Muzik (AIM) in various language formats, and collective music licensing and royalty distribution for recording labels, artistes and musicians. In his corporate capacity, he is also presently the Chairman of the Solaris Mont’ Kiara Joint Management Corporation and the Honorary Secretary of the Communications & Multimedia Content Forum of Malaysia (‘CMCF’), a self-regulatory body which advises the Malaysian Communications & Multimedia Commission (‘MCMC’) on electronic content matters.

To book, please visit www.regonline.com/malaysia_ip_2015.Book 5 delegates and save an additional 20%. For enquiries, call Sheila at (65) 6870 3252

or email [email protected]. For sponsorship opportunities,call Amantha at (65) 6870 3917 or email [email protected]/CONFERENCES/MALAYSIA-IP-2015

REGISTER BEFORE13 FEBRUARY AND

SAVE US$100!ALB SUPPORTS PROUDLY PRESENTED BYSUPPORTING ORGANISATIONS

“Innovation is a vital ingredient to increasing productivity and ultimately raising the competitiveness of the economy”The 10th Malaysia Plan, Malaysia’s economic development blueprint for 2011-2015, has set the country’s direction in embracing innovation and IP as critical assets driving sustainable growth. As a result, the government has launched The government has groundbreaking initiatives including the IP Financing Scheme, the pilot IP Exchange or the IP Valuation Model. ALB’s inaugural Malaysia IP Conference will build on these exciting developments, providing a forum for the exchange of expert insight and practical case studies in the realm of IP monetisation, brand protection and dispute resolution.

TOP REASONS TO ATTEND• PositionyourselfattheforefrontofIP

commercialisation and protection initiatives across the Asia-Pacific region

• GetupdatedonthelatestIP-relatedregulatorychanges and understand the government’s IP financing and trading initiatives

• Turnyourinnovationintoalucrativeasset:learnhowtobuild a financially viable IP monetisation programmes for businesses of all sizes

• Receivehands-onguidanceonhandlingspecificIPmanagement issues, including joint IP ownership, patent exhaustion and patent trolls

• LearnhowtoadjustyourIPmanagementstrategiesinthe era of social media and disruptive technologies

• Gaininsightonhowtonavigatecompliancewithoftenconflicting IP and competition law regimes

• Protectyourbrand:Adoptamulti-stakeholderapproach for your international anti-counterfeiting and online piracy mechanisms

• SelecttherightdisputeresolutionstrategyforyourIP-related matters

• NetworkwithtopIPexpertsfromthebanking,pharmaceuticals, technology, telecommunications, energy and education industries

Accredited CPD Activity

6 CPD pointsCPD Event Code:

T2/12032015/CCPTR/KL152055/6

asian legal business january 2015

Documents

n o s t o p p i n g

howtoaccelerateth integration

asia editionmica p

good page

theasean region

private sector leaders

singaporethe road towardsa

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