KWM gets Singapore licence, eyes Q2 opening
The firm has obtained its Foreign Law Practice licence and plans to open within three months
February 03, 2015 at 12:05 AM
2 minute read
King & Wood Mallesons (KWM) is to open a Singapore office within the next two to three months after receiving its Foreign Law Practice (FLP) licence from the city-state's Attorney General chambers.
The firm applied to the Singapore authorities to open an independent office last year, shortly after the merger between the Sino-Australian giant and legacy SJ Berwin, and after tie up-talks with top Singapore firm Wong Partnership fell through.
Legal Week understood that the firm had hoped to open before the end of 2014, and that it planned to second lawyers from each of the legacy firms, including Sydney-based Mallesons M&A partner John Sullivan and former SJ Berwin funds partner Tony Gibson.
In a statement today, the firm made no mention of which lawyers would be based on the ground but confirmed the office would have an initial focus on international funds, energy and resources and China inbound and outbound work, and that it was eyeing both cross-border and domestic deals in South East Asia.
"As the only global law firm headquartered in Asia, KWM is committed to building its global practice from a strong base in the region," said global managing partner Stuart Fuller.
"Singapore is a key market for our clients given its role as a financial and trading hub and a gateway for investments around South East Asia, North Asia and India. Our expansion into these markets through our office in Singapore is the logical next step for the firm."
KWM's recent deals in the region include advising Singapore-based sovereign wealth funds on investments and co-investments, Macquarie on infrastructure fundraisings for India, China and Philippines, and China Light & Power on its acquisition of TRUenergy (formerly TXU Australia) from Singapore Power.
Initially the firm will not be permitted to practise Singapore law, but it is thought the firm may look to acquire local capability in the future either via a tie-up or application for a Qualifying Foreign Law Practice (QFLP) licence.
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