IFLR 1000 (2021)
R&T Sok & Heng Law Office
Financial and Corporate – Tier 1
Project development – Tier 2
Leading Lawyers:
Chhay Heng (Highly Regarded) – Banking, Energy and infrastructure, M&A, Project finance
Sok Khavan (Highly Regarded) – Banking, Energy and infrastructure, M&A, Project finance
Tiv Sophonnora (Notable Practitioner) - Banking, M&A
Founded in 2010, R&T Sok & Heng is a member of the Rajah & Tann Asia network and is a strong player in the Cambodian legal market. The firm performs consistently well across the financial and corporate and project development areas. The firm maintains an office in Phnom Penh.
The firm advises on banking and finance, capital markets, M&A, and project development transactions across a variety of industries including energy, retail, banking and financial services, insurance, consumer products, technology and telecommunications, and healthcare.
The firm’s impressive client list features names such as Airbnb, Amazon, Facebook, Visa, Starbucks, The Body Shop, and AXA.
During the review period the capital markets team was active for issuers on IPOs, listings, and bond issuances. In banking, a highlight saw the firm active for a foreign bank on an acquisition financing mandate in the energy sector. On the M&A front the firm was active for both acquirers and sellers across a range of sectors. In projects the firm was notably active in the energy space, primarily acting for a confidential client on cross border energy projects. Additionally, the firm often advised foreign clients on regulatory compliance matters.
Deal highlights
- Advanced Bank of Asia $21 million bond issue
- InNature MYX IPO
- National Bank of Canada $320 million acquisition of 99% stake in Advanced Bank of Asia
Client feedback
Financial and corporate
"Integrity, precision, pro-activeness, thoroughness, deep local experience and relevance of advice."
Private equity
“Value for money and always willing to go the extra mile for clients.”
Tiv Sophonnora
"Integrity, precision, pro-activeness, thoroughness, deep local experience and relevance of advice."
Hout Sotheary
“Dedicated, hardworking and good client management skills.”
Assegaf Hamzah & Partners
Banking - Tier 1
Capital markets : Debt - Tier 1
Capital markets : Equity - Tier 1
Mergers and acquisitions - Tier 1
Project development - Tier 2
Project finance - Tier 2
Restructuring and insolvency - Tier 2
Leading lawyers:
Astrid Widyakartika Handaka (Rising Star) - Capital markets, M&A
Bono Daru Adji (Highly Regarded) - Banking, Capital markets, Energy and infrastructure, M&A
Fikri Assegaf (Market Leader) - Banking, Capital markets, Energy and infrastructure, M&A, Project finance
Ibrahim Sjarief Assegaf (Highly Regarded) - Banking, M&A
Kanya Satwika (Highly Regarded) - Islamic finance, Project development, Project finance
Tunggul Utomo (Notable Practitioner) - Banking, Capital markets, M&A, Project finance
Yanu Wiriasmoko (Notable practitioner) - Banking, Restructuring and insolvency
Founded in 2001, Assegaf Hamzah & Partners has established itself as one of the leading firms in the Indonesian legal market. The firm is headquartered in South Jakarta and has extended its presence throughout the region with its membership of the Rajah & Tann Asia network.
The firm excels in banking and finance, capital markets, and M&A work and has formidable projects and restructuring practices. In addition to advising across a spectrum of traditional capital markets and banking and finance transactions, the firm has a special focus on the fintech sector and Shariah-compliant investment and financing transactions.
In M&A the firm has experience across banking and financial services, energy, resources, aviation, automotive, retail, media, and technology and telecommunication. The firm also has a strong track record in representing private equity investors.
The projects team has significant experience in matters such as PPPs, production sharing agreements, power purchase agreements, oil and gas supply agreements and oil and gas supply agreements.
Key clients
The firm’s extensive client list includes Asian Development Bank, DBS, ABN Amro, CIMB, MUFG Bank, IFC, Export-Import Bank of Korea, General Atlantic, XiaoMi and HSBC Bank.
Research period review: 30th edition (2019/2020)
During the research period a high-value acquisition financing highlight saw the firm acting for the arrangers and lenders.
The capital markets team most regularly acted for the issuers on matters such as private placements, rights issues, and bond issuances.
An eye-catching M&A mandate saw the firm advising on the first banking merger OJK’s most recent merger regulation.
A project highlight saw the firm advising Abu Dhabi Future Energy Company on the development of Indonesia’s first floating solar power plant and the largest of its kind in Southeast Asia.
A newsworthy restructuring deal saw the firm advising creditors in Apexindo Pratama Duta’s suspension of debt payment proceedings.
Deal highlights: 30th edition (2019/2020)
- Bank Tabungan Pensiunan Nasional / Bank Tabungan Pensiunan Nasional merger
- Cirata 145MW floating solar photovoltaic power plant
- Makassar-Parepare 142km railway
- Riau 275MW combined-cycle power plant
- Ruangguru $150 million Series C funding round
- Satelit Republik Indonesia
- SCG Packaging $680 million acquisition of Fajar Surya Wisesa
Client feedback: 30th edition (2019/2020)
Banking
“Maintaining relationships and a long and good reputation.”
“Knowledge of Indonesian law and practice as relevant for power project finance.”
“The firm is very experienced in project financing for infrastructure projects in Indonesia. And they always have great answers for practical problems that we encounter in such projects.”
“AHP are very responsive and commercial in their approach. They can think outside the box and provide pragmatic advice in the ever-changing Indonesian regulatory landscape.”
M&A
“Very proactive, client-focused, and well versed with Indonesian legal-fiscal context.”
“Responsive, experienced, and give very commercial advice.”
“They are very well versed in the rules and regulations and provide good advice. I like that they always have a positive mindset and show a professional front to the client.”
Project development
“Detail oriented.”
Aisyah Rahmarani Siregar
“Responsible and professional. Not afraid to dig into the slightest problems and always ready to conduct a thorough analysis of complex matters.”
Carol Lim
“Proactive, client-focused, and well versed in the legal-fiscal landscape. Provides clear and valuable advice.”
“Is very responsive, gives commercial advice, and has good client management.”
Fikri Assegaf
“Good reputation and good relationship management.”
“Fikri is outstanding at structuring and problem-solving. He is passionate about the law, and it shows as he always speaks very effusively. He has a great disposition and always tries to make time for us despite his busy schedule whenever we need his advice.”
Kanya Satwika
“Legal and market knowledge in the power sector.”
“Kanya is a brilliant lawyer who is able to quickly identify issues which are important to her clients and provide pragmatic advice. She is charming with clients and in negotiations.”
Wyncent Halim
“Responsive.”
Rajah & Tann (Laos) Co., Ltd
Financial and corporate – Active
Project development – Tier 3
Christopher & Lee Ong
Banking and finance - Tier 2
Capital markets : Debt - Tier 3
Capital markets : Equity - Tier 3
Mergers and acquisitions - Tier 3
Project development : Infrastructure - Tier 1
Project development : Oil and gas - Tier 1
Project development : Power - Tier 1
Leading Lawyers:
Christopher Lee (Market Leader) - Banking, Energy and infrastructure, M&A, Project finance
Eileen Yeoh (Highly Regarded) - Project Development
Jack Chor (Highly Regarded) - Banking, Project development
Lee Hock Chye (Notable Practitioner) - Banking, Real estate acquisitions
Shemane Chan (Highly Regarded) - Energy and infrastructure, Project Development
Rajah & Tann Myanmar Company Limited
Financial and corporate – Tier 2
Project development – Tier 2
Leading Lawyer:
Chester Toh (Highly Regarded) - Banking
Hiroyuki Ota (Highly Regarded) - M&A
Regional firm Rajah & Tann’s Myanmar office is led by managing partner Min Thein. Membership of the Rajah & Tann Asia network allows the firm to provide comprehensive legal advice to clients across the region.
The firm is a consistent performer in the financial and corporate and project development practice areas. The firm has experience in advising across a range of industry sectors including insurance, hospitality, real estate, logistics, food and beverages, healthcare, technology and telecommunication, and energy. The firm has built a robust Japanese practice and often acts for clients based there with interests in Myanmar.
The firm’s client list includes names such as Sompo Japan Nipponkoa Insurance, Yangon Metropolitan Development, Eco World Developer Holding, Myanmar Distribution Group, and Myanmar Ministry of Planning and Finance.
The firm had a busy research period in corporate and M&A, acting for buyers, sellers and joint venture partners. A newsworthy mandate saw the firm advise a foreign acquirer in a first of its kind acquisition in the insurance sector. A highlight in the projects space saw the firm advising a consortium of foreign investors on the development of Myanmar’s first-ever transit-oriented development.
The firm’s financial and corporate practice was hit by the departure of senior partner U Nyein Kyaw, who left the firm after Rajah & Tann Myanmar and NK Legal parted ways.
Deal highlights
- S Hotels and Resorts Public Company / Eco World Developer joint venture
- Sompo Japan Nipponkoa Insurance $60 million acquisition of stake in AYA Myanmar Insurance
- Yangon Metropolitan Development / Berjaya Land joint venture
Client feedback
M&A
"R&T is very knowledgeable in their field and their explanations are always very clear. What I like the most from them is that I could contact them very easily and they respond within my expectations."
Project development
“Provides practical solutions.”
Lester Chua
“He is up-to-date on the latest changes regarding Myanmar's legal and government matters. I can also call him almost each time I message him.”
Hiroyuki Ota
“He speaks fluent Japanese and English.”
Gatmaytan Yap Patacsil Gutierrez & Protacio (C&G Law)
M&A - Tier 3
Project development - Tier 3
Project finance - Other notable
Leading Lawyer:
Jaime Renato Gatmaytan (Highly regarded) - Project finance, M&A
Founded in 2007, Gatmaytan Yap Patacsil Gutierrez & Protacio (C&G Law) maintains an office in Makati City and is a member of Rajah & Tann Asia, the largest legal network in Southeast Asia. Ben Dominic Yap leads the firm as its managing partner.
The firm is recognised for its corporate and M&A, project development and project finance work. The firm sectors of activity include energy, technology, transport, manufacturing, oil and gas, banking and financial services, gaming and agriculture.
Key clients
The firm often acts for big names such as DBS Bank, Aboitiz Group, Standard Chartered Bank, Lopez group, Credit Agricole Corporate and Investment Bank, Holcim Philippines, Pepsi-Cola Products Philippines and Fraser Property.
Research period review: 30th edition (2019/2020)
During the research period the banking team frequently acted for banks as lenders in financings and also advised clients on regulatory compliance matters.
The corporate team took on regulatory compliance work and was also active for both buyers and sellers on acquisitions. An award-winning deal saw the firm advising the LafargeHolcim in divesting its stake in Holcim Philippines.
The projects team was recently active in sectors including oil and gas, transport, and energy. An interesting engagement saw the firm advising First Gen Corporation on the development of an LNG regasification facility.
Deal highlights: 30th edition (2019/2020)
- AC Energy and ThomasLloyd Php2.8 billion acquis ion of ISLASOL
- First Gen Corporation LNG terminal
- Lotte Chilsung Beverage $80.9 million acquisition of stake in Pepsi-Cola Products Philippines
- North Luzon Expressway
- AC Energy and ThomasLloyd Php2.8 billion acquision of ISLASOL
- San Miguel Corporation $2.15 billion acquisition of Holcim Philippines
- Lotte Chilsung Beverage $80.9 million acquisition of a stake in Pepsi-Cola Products Philippines
Client feedback: 30th edition (2019/2020)
M&A
“Provides accurate risk assessments.”
“They kindly supported us in preparing the documents and explaining the scenario of our transaction. They had good communication with our partner and PCC and persuaded them to approve the transaction.”
Financial and corporate
“Speed - the Firm responds very promptly to queries and work. Proactive - the Firm has developed a good understanding of our needs, and proactively reaches out with information or offers of help when there are developments that affect our company/industry. Practical legal advice - the Firm has evolved to provide practical legal advice and work. Reasonable fees - in spite of the quick turnaround of work and prompt support, the Firm still charges reasonably.”
Restructuring and insolvency
“Polite, rigorous, prompt in answering, very responsive, very qualitative, and very precise. Extremely professional team of multiple experts. ”
Financial services regulatory
“Timely, accurate, and comprehensive feedback.”
“Responsiveness and subject-matter knowledge/competence.”
Albert Yu Chang
“Mr Yu Chang is very knowledgeable and provides timely and sound legal advice. He is able to identify potential risks and a range of solutions to mitigate those risks.”
Andrea Katipunan
“She explained the problems and how we could solve them very clearly to us. She accepted a lot of our requests even if in urgency and responded properly.”
Deborah Sobrepeña-Lacson
“Very accessible and responsive, reliable, takes feedback well and acts on it, and good legal work.”
“She is extremely good on multiple dimensions.”
Janelle Gomendoza
“Very responsive and hands-on. Always on top of our needs.”
Mary Thel Mundin
“Timely and relevant responses to queries and requests for assistance.”
Rajah & Tann Singapore LLP
Banking and finance - Tier 1
Capital markets: Debt - Tier 2
Capital markets: Equity - Tier 2
Investment funds* - Active
M&A - Tier 2
Project development - Tier 1
Restructuring and insolvency - Tier 1
Leading Lawyers:
Angela Lim (Highly regarded) - Banking, Energy and infrastructure, Project finance
Chia Kim Huat (Highly regarded) - Capital markets
Chua Beng Chye (Highly regarded) - Restructuring and insolvency
Danny Lim (Notable practitioner) - Capital markets : Equity, M&A
Danny Ong (Highly regarded) - Restructuring and insolvency
Evelyn Wee (Highly regarded) - Capital markets, M&A
Ho Mei Shi (Rising star) - Banking and finance
Hoon Chi Tern (Rising star) - Capital markets, M&A
Howard Cheam (Notable practitioner) - Capital markets : Debt, Capital markets : Equity, M&A
Lawrence Tan (Notable practitioner) - M&A
Lee Eng Beng, SC (Highly regarded) - Restructuring and insolvency
Lee Xin Mei* (Highly regarded) - Capital markets
Lim Wee Hann (Highly regarded) - M&A
Mark Cheng (Highly regarded) - Restructuring and insolvency
Ng Kim Beng (Highly regarded) - Project development
Ng Sey Ming (Highly regarded) - Banking, Capital markets: Debt
Patrick Ang (Market leader) -Restructuring and insolvency
Raelene Pereira (Rising star) - Restructuring and insolvency
Regina Liew (Highly regarded) - Banking and finance
Sandy Foo (Highly regarded) - Banking, Energy and infrastructure, M&A, Project development, Project finance
Shemane Chan* (Highly regarded) -Project development
Sim Chee Siong (Highly regarded) - Project development
Sim Kwan Kiat (Highly regarded) - Restructuring and insolvency
Soh Lip San (Highly regarded) - Project development
Tan Chuan Thye, SC (Highly regarded) - Restructuring and insolvency
Tan Mui Hui (Notable practitioner) - Capital markets : Deb, Capital markets : Equity, M&A
Founded in 1976, Rajah & Tann Singapore is one of the largest full-service firms in Singapore and is regarded as one of the jurisdiction’s elite firms, dubbed the “big four”. The firm, led by Managing partner Patrick Ang and deputy managing partner Rebecca Chew, extends its presence throughout the region with the Rajah & Tann Asia, the largest Southeast Asian network of law firms.
The firm provides top quality advice in banking and finance, project development and restructuring and insolvency and has formidable capital markets and M&A practices.
The banking team acts for domestic and international banks, financial institutions, and corporates on a wide variety of instruments and cross border transactions such as real estate finance, project finance, acquisition finance, Islamic finance and structured finance transactions.
In capital markets work the firm has experience in acting for issuers, issue managers, underwriters, and originators on deals from across the spectrum of capital markets transactions.
The corporate team is experienced on in acting for both acquirers and sellers across a variety of sectors.
The firm’s restructuring team was the first dedicated restructuring and insolvency practice group in Singapore and has acted for a wide range of clients, including creditors, debtors, liquidators, judicial managers, receivers, and financial advisors.
Key clients
Key clients include Malayan Banking, H&C S Holdings, Shanghai Huaxin Group, One Bangkok, Resorts World Sentosa, Neste Singapore, Linde Gas Singapore, Singapore Press Holdings, Merrill Lynch, and OUE Hospitality REIT Management.
Research period review: 30th edition (2019/2020)
In banking work the firm was recently active for borrowers and lenders on transactions such as refinancing and acquisition financing and was also advised on regulatory compliance matters.
The capital markets team often acted for issuers on debt issuances, rights issues, overseas listings, and share placements. The team was also active on several confidential mandates in the structured finance space, often acting for foreign clients.
On the M&A side the firm was notably active in the real estate sector. A newsworthy deal saw the firm advising the mangers on the merger of OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust.
On the projects side an eye-catching deal saw the firm assist the developer of the largest private sector property development initiative undertaken in Thailand. Another high-value projects mandate saw the firm advising Resorts World Sentosa on the redevelopment and expansion of its resort infrastructure and facilities.
In restructuring work the firm was active for the largest single secured creditor in high profile restructuring of Hyflux Group.
The corporate team welcomed new partner Loh Chun Kiat from WongPartnership, while the capital markets team was boosted by the addition of partner Eugene Lee from Prolegis.
Deal highlights: 30th edition (2019/2020)
- Ascott Residence Trust / Ascendas Hospitality Trust merger
- Frasers Logistics & Industrial Trust / Frasers Commercial Trust merger
- Hyflux debt restructuring
- Mercuria Asia Group Holdings and Mercuria Energy Trading $1.2 billion financing
- One Bangkok
- OUE Commercial REIT / OUE Hospitality Trust merger
- Resorts World Sentosa redevelopment
- Shanghai Huaxin Group liquidation
Client feedback: 30th edition (2019/2020)
Banking
“R&T has a mid-sized law firm feel with large-size firm professionalism. This means clients get good coverage directly from the partner in charge and a very hands-on attitude to project execution.”
“Very client-focused and commercial. Able to provide practical and innovative solutions.”
Capital markets : Debt
“Promptness and adaptability.”
M&A
“The law firm is one of the best we have worked with. This law firm remains as the market leader in Singapore with the sheer depth and strength of the practice.”
“Client-focused, pro-active, flexible, and extremely talented team which consistently goes above and beyond to ensure the best results.”
Project development
“They understand the local laws well. Very thorough and detailed.”
“Excellent knowledge and client focused.”
Restructuring and insolvency
“Technical skill, proactive, personable and reactive.”
“Highly responsive and commercially minded with in-depth analysis.”
“Very responsive, strategically minded and assertive in setting forward and advocating for their client's position. Thoughtful work product, quick turnaround, and always available.”
Abdul Jabbar Bin Karam Din
“Very prompt and reasonable. Always prepared to assist and meet tight deadlines”
Angela Lim
“Very solution and client-focused, and energetic approach to problem-solving. Very familiar with twists and turns dealing with emerging and frontier markets transactions.”
“Very commercial and client-focused. Highly responsive and able to provide practical solutions.”
Danny Ong
“Proactive, engaged, interested in solving the problem and putting forward thoughtful and strategic suggestions for resolution. Available on short notice to discuss issues - which is particularly helpful working across timezones.”
Harish Kumar
“Smart, engaged, and responsive.”
Shemane Chan
“She has good adaptation and flexibility during negotiations with tough clients.”
“Very diligent and knowledgeable. Provides excellent solutions and recommendations.”
Wee Hann Lim
“Client-focused, Pro-active and flexible. Consistently goes above and beyond to ensure the best results.”
Wern Jhien Yam
“Proactive, engaged, interested in solving the problem and putting forward thoughtful and strategic suggestions for resolution. Available on short notice to discuss issues - which is particularly helpful working across timezones.”
Xin Mei Lee
“Xin Mei has been professional, prompt, very commercially minded, solution-oriented, and always provided robust legal advice even when in very complex situations. And she is extremely pleasant to work with.”
R&T Asia (Thailand) Limited
Banking and finance - Other notable
Project development - Tier 2
Rajah & Tann LCT Lawyers
Banking and finance – Tier 3
Project development – Tier 3
Mergers and acquisitions – Tier 3
Leading Lawyers:
Brian Ng (Highly regarded) - Banking, M&A
Huy Quang Chau (Highly regarded) - Energy and infrastructure: Disputes
Vu Thi Que (Highly regarded) - Energy and infrastructure, Project development, M&A