The merger with Vietnamese based law firm PBC PARTNERS & RHTLaw signals the Firm’s drive towards a seamless regional legal platform through integrating brand, technology and knowledge across ASEAN. Move in line with establishment of the ASEAN Economic Community (AEC), a major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a market of US$2.6 trillion and over 622 million people.
RHTLaw Taylor Wessing LLP is set to further strengthen its regional cross-border practice with the merger with PBC PARTNERS & RHTLaw. The firm today announced the launch of RHTLaw Taylor Wessing Vietnam bringing together PBC PARTNERS & RHTLaw, and RHTLaw Taylor Wessing, the 6th largest law firm in Singapore, into a seamless integrated service network. The merger is in line with the AEC Blueprint 2025 which is aimed towards achieving the vision of having an AEC by 2025 that is highly integrated and cohesive; competitive, innovative and dynamic; with enhanced connectivity and sectoral cooperation; and a more resilient, inclusive, and people-oriented, people-centred community, integrated with the global economy.
The move comes soon after RHTLaw Taylor Wessing’s alliance with PBC PARTNERS in early 2014 to form PBC PARTNERS & RHTLaw. Today, the two firms deepen their integration to offer clients seamless cross border services.
The new outfit, located within the commercial centre of Ho Chi Minh City’s District 1, will have presence across Ho Chi Minh City and Hanoi, with 25 lawyers covering a full suite of practice areas, including foreign direct investments, mergers and acquisition, real estate, energy, hospitality, healthcare, construction, banking & finance, international trade, telecommunication, taxation, employment, and dispute resolution.
Commenting on the launch of the new office, RHTLaw Taylor Wessing’s Managing Partner, Tan Chong Huat noted, “The merger signals our commitment to intensify our ASEAN growth strategy via our “ASEAN+” network. What started out as an alliance of like-minded law firms has now grown into a pre-eminent legal firm in Vietnam. Vietnam is one of the fastest growing emerging markets in the world and is poised to play an important role in the ASEAN economy. Our base in Vietnam allows us to actively serve our clients’ business needs across the region, providing on-the-ground counsel to guide them through the legal challenges posed by cross border transactions and operations.”
Azman Jaafar, Deputy Managing Partner of RHTLaw Taylor Wessing and Chairman of the ASEAN+ Group, added, “Launching a new office in Vietnam is part of the series of the strategic growth initiatives we have planned to bolster our presence across ASEAN. In addition to the considerable business opportunities present in Vietnam, the country also serves as a gateway to the Indochina region, potentially opening up avenues for us to service clients in the promising Laos, Cambodian and Myanmar markets.”
RHTLaw Taylor Wessing Vietnam will be led by Tran Thanh Hai as Managing Partner and Benjamin Yap as Senior Partner. Mr Hai has over 20 years of legal experience and is well-regarded in the areas of mergers and acquisitions, banking and finance, telecommunications, employment, land, taxation, technology and commercial law. Prior to forming PBC PARTNERS and RHTLaw, he was with Courdert Brothers, Deasons Vietnam and PwC Legal Vietnam where he worked across a wide range of sectors with both local and international clients.
“I am indeed excited by RHT’s model of combining strong local knowledge with international expertise. Our partnership will allow us to leverage the brand, platform and technology of RHTLaw Taylor Wessing and transform ourselves into a regional and global player. We look forward to working with the Singapore team to build a market-leading office in Ho Chi Minh City and Hanoi”, Mr Hai remarked.
Benjamin Yap, a Vietnam-registered foreign lawyer who is called to the Singapore and English Bar, has extensive experience in corporate and commercial transactions. He has more than 20 years of experience handling mergers and acquisitions, real estate, corporate compliance and governance, and employment matters for local and international clients.
The months ahead will also see Partners from the Singapore office being seconded to Vietnam and vice versa, a move aimed to boost knowledge transfer and capacity building.
The latest venture in Vietnam is consistent with RHTLaw Taylor Wessing’s strategy to bolster its service offerings across the region. In the last few years, the Firm has forged strategic alliances with leading Indonesian law firm, Hanafiah Ponggawa and Partners, and South Korean firm DR & AJU, together with several other leading firms in Asia under the ASEAN Plus Group.
RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views in this week’s topic in the Business Times’ weekly column, Views from the Top.
This article was first published in The Business Times on 27 June 2016.
Welcome to the internet of money
JUN 27, 2016 5:50 AM
THIS WEEK'S TOPIC: How do you think fintech innovations can potentially impact your business, and your life?
Tan Chong Huat
RHT Law Taylor Wessing LLP
AS a global financial node with high number of technology users, Singapore is already on the global radar as a major international fintech hub. It is therefore not surprising that fintech's disruptive potential has been in sharp focus here.
Fintech promises the delivery of more efficient, customer-centric and transparent financial services. Fintech platforms are also more nimble, able to adapt and customise the delivery of services quickly.
Fintech platforms, must, however, not forget the "fin" in fintech - they are delivering financial services and will succeed only if they have a robust governance, risk management and regulatory compliance framework.
RHTLaw Taylor Wessing congratulates Taylor Wessing UK on its move into East London
Taylor Wessing UK is relocating its dedicated Tech City office from Great Eastern Street to Second Home, London’s most high-profile community of entrepreneurs and creative businesses in the heart of London’s tech cluster in Shoreditch.
The Taylor Wessing Tech City team focuses on UK and international tech start-ups and more established tech companies, with representation from the firms’ Technology, Venture Capital, Intellectual Property, Tax and Incentives, Inward Investment and Employment groups. The Firm has offices in all the major technology centres around the world, including London, Cambridge, Paris, Berlin, Singapore, New York City and Palo Alto.
Second Home, the flexible members-only workspace was launched in 2014, in a former carpet factory just off London’s Brick Lane. Since then, it has become renowned for being a hub for fast growing creative companies.
Commenting on the move to Second Home, Adrian Rainey, Partner in the Corporate Technology team at Taylor Wessing said: “London’s tech sector has grown and internationalised enormously since we became the first City law firm to open an office in Tech City in 2011. Our office is at the heart of that community and we can benefit from the ideas and innovation spilling out of it.”
Simon Walker, Partner in the Corporate Technology team added: “For us, it’s about new ways of thinking and change, being a part of that discussion and being as close as possible to the industries we’re expert in.”
Josh Rivers, Head of New Membership at Second Home said: “We think Taylor Wessing’s great work in supporting entrepreneurs is a perfect fit for Second Home. We’re really thrilled to welcome them to the space.”
Taylor Wessing’s Tech City team moved to Second Home on 20 June 2016.
RHTLaw Taylor Wessing Head of Capital Markets Ch’ng Li-Ling was quoted in The Edge Singapore article titled “Crowdfunders respond to new MAS rules, want more done for investor protection”.
The article discussed how the new regulations announced by the Monetary Authority of Singapore (MAS) on June 8 seemed to be surprisingly welcomed by local crowdfunding platforms as “the new regulations are drivers to safeguard the industry…”. Research by The Edge Singapore also revealed that several of the newest crowdfunding platforms are not deterred by the prospect of more regulation but are in fact already preparing to apply for a Capital Markets Services (CMS) licence. MAS has made it easier for these companies to secure a licence by lowering the base capital requirement from S$250,000 to S$50,000 and removing the security deposit requirement of S$100,000.
Li-Ling gave her opinion that the new regulations put crowdfunding platforms under the oversight of the regulatory body (MAS) and give investors more protection.
The full article dated Monday 20 June 2016, can be found in The Edge Singapore.