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The Class of 2017

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The Class of 2017 BOUNCING BACK IPO market to recover in 2017 OLD MEETS NEW Offshore law firms tap into Islamic finance boom BUILDING BATTLES As construction booms in Asia, so do disputes THE CLASS OF 2017 MCI (P) 060/02/2017 ISSN 0219 – 6875 KDN PPS 1867/10/2015(025606) Photos from Hong Kong Anti-Corruption Forum 2016 SAVE THE DATE FOR THIS NOT-TO-BE MISSED ANTI-CORRUPTION FORUM Asian Legal Business is proud to present the BENEFITS OF ATTENDING: Hong Kong Anti-Corruption Forum on 23 March • Keynote address by Judge from the High Court 2017. This annual forum gathers legal experts, in- of Hong Kong house compliance professionals and government • Key insight into the latest anti-corruption and leaders together to discuss pertinent issues, anti-bribery issues from Hong Kong and the corruption investigations and enforcement trends Greater China region across Hong Kong and the Greater China. • Network with senior in-house counsels, lawyers and business leaders who are on top of their Hear about recent anti-graft initiatives, explore game GUEST OF HONOUR: various measures and practical solutions to • In-depth workshops focusing on the latest The Honourable Mr Justice mitigate corruption risks and delve deep into key legal issues presented by top domestic and Kevin Zervos, SC concerns which legal/compliance professionals international law firms VIP networking luncheon Judge need to address to successfully safeguard and refreshments High Court of Hong Kong corporate reputations and businesses. • Speaker notes and materials provided AGENDA AT A GLANCE: • Latest Developments in Hong Kong Anti- To register for this event, go to: Corruption Legislations and Enforcement www.regonline.com/hkanticorruption2017 Trends • Improving Third Party Risks Mitigation and For more information about this event, go to: Compliance through Enhancing Due Diligence www.legalbusinessonline.com/conferences/ for Anti-Bribery and Anti-Corruption hk-anticorruption-2017 • Achieving Internal Compliance through KEYNOTE SPEAKER: Effective Anti-Bribery & Corruption Programmes CONTACT FOR SPEAKING OPPORTUNITIES: William Tam, SC • Cross-Border M&A Transactions - Anti- Willy Leonardi Deputy Director of Public Prosecutions, Head of the Corruption Measures and Pitfalls to Avoid +65 6870 3102 Commercial Crime Sub- • Enhancing Data Security and Privacy Against [email protected] Division, Prosecutions Division Cross-Border Corruption and Bribery Risks Department of Justice • Combating Against Corruption and Bribery CONTACT FOR SPONSORSHIP OPPORTUNITIES: Crimes in Hong Kong and the Greater China Amantha Chia • Preventing Internal Fraud through Know-Your- +65 6870 3917 Customer (KYC) and AML Compliance [email protected] WORKSHOP SPONSOR ASSOCIATE SPONSOR SUPPORTING ORGANISATION SUPPPORTING MEDIA PARTNER PROUDLY PRESENTED BY CONTENTS FEBRUARY 2017 36 An Indonesian flag is seen near a construction site in Jakarta, Indonesia. REUTERS/Darren Whiteside COVER STORY FEATURES BRIEFS 16 12 centres (OFCs) becoming a key 3 Firms To Watch 2017 The year of the are increasingly in provider. However, The Briefing This year’s edition of rebound demand to help investors face a ALB’s annual Firms To Following a weak structure sharia- challenging legal and 4 Watch list showcases 2016, the Asia-Pacific compliant products. regulatory landscape Q&A a diverse mix of law IPO market is set to Unsurprisingly, that lawyers are firms, including an bounce back this year. offshore law firms helping them 4 Indonesian firm ALB asks lawyers in are seeing a need navigate. Asia Deals specialising in aviation key markets to predict for Islamic finance- work, a Malaysian firm trends they expect to related services grow 42 6 shining in matrimonial see in that space. as well. Construction and Appointments law, and a Japanese conflict law firm offering 24 36 As construction booms 7 a counter to the Old rules, new Friend in need in the Asian region, Startup Talk traditional law firm opportunities Indonesia’s massive so do construction- models. As the global Islamic infrastructure dreams related disputes. ALB BY RANAJIT DAM finance market grows today depend heavily speaks to experts at an impressive on outside finance, about how these can pace, offshore and Japan is fast be mitigated LEGALBUSINESSONLINE.COM ASIAN LEGAL BUSINESS – FEBRUARY 2017 1 HELLO, TOMORROW. Each year, the February issue has become one of the most exciting ones put by ALB simply because of how it offers a glimpse into the future of Asia’s legal industry. Since we first began our Firms to Watch feature in February 2015, interest in it has skyrocketed. From an initial class of 10 firms in the first year, we are featuring an expanded list of 15 in this edition, and it has been hard to leave out the ones that didn’t make the cut. And given that some have been more enthusiastic than others – Indonesian firms, for example, make up more than a quarter of the PUBLISHER Amantha Chia entries on this list – it is tempting to believe that we could [email protected] start a segment by region – if not by country – in the future. What the list does reflect, though, is an important shift MANAGING EDITOR in Asia’s legal industry. It wasn’t too long ago that larger Ranajit Dam [email protected] firms dominated the landscape; indeed in some countries, that is still the case. But Asia is a region buzzing with the ASSOCIATE EDITORS hum of entrepreneurship, and even the legal sector has Eileen Ang heeded the call. For a number of reasons – be it the ability [email protected] to choose clients and the kind of work, or the need to Raj Gunashekar diverge from a traditional law firm model – younger lawyers [email protected] are getting out there and setting up shop. And clients are SENIOR DESIGNER responding: Indeed, with more personalised service from John Agra RANAJIT DAM smaller outfits, not to mention more competitive fees, [email protected] Managing Editor, what’s not to like? Asian Legal Business TRAFFIC / CIRCULATION MANAGER Where is all this fragmentation headed? Could it be but Rozidah Jambari Thomson Reuters a temporary trend, at the end of which we see consolidation, [email protected] and the industry returning to its old ways? Or is this trend permanent, and the larger firms are finding their hitherto ACCOUNT MANAGERS Shyanne Chen impregnable fortresses increasingly vulnerable? With Advertising Sales Manager (India, everything else going on in the legal industry, it would Indonesia, Malaysia, Singapore) not be difficult to imagine the latter. In which case, the (65) 6870 3253 [email protected] incumbents must stand warned – if you haven’t started worrying yet, maybe now is a good time. As for the small Henry Cheng Account Manager (Hong Kong, Korea) law firms rearing their heads and making their presence (852) 2847 2016 felt, including the 15 on this list, they might just be what [email protected] tomorrow looks like. Amy Sim Sales Manager (Japan, Singapore, Taiwan) (65) 6870 3348 [email protected] Sardor Yangibayev Sales Executive (Philippines, Singapore, Thailand, Vietnam) (65) 6870 3190 [email protected] SENIOR EVENTS MANAGER Julian Chiew [email protected] Asian Legal Business is available by subscription. Please visit www.legalbusinessonline.com for details. SENIOR AWARDS AND Asian Legal Business has an audited average circulation of 11,402 as of 30 September 2016.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 Asian Legal Business can OPERATIONS MANAGER accept no responsibility for loss. Tracy Li MCI (P) 060/02/2017 [email protected] ISSN 0219 – 6875 KDN PPS 1867/10/2015(025606) Thomson Reuters 18 Science Park Drive Singapore 118229 / T (65) 6775 5088 / F (65) 6333 0900 10/F, Cityplaza 3, Taikoo Shing, Hong Kong / T (852) 3762 3269 www.thomsonreuters.com 2 ASIAN LEGAL BUSINESS – FEBRUARY 2017 LEGALBUSINESSONLINE.COM THE BRIEFIBRIEFSNG: YOUR MONTHLY NEED-TO-KNOW The Russia office of Dentons has developed the concept for the first draft law on robotics in that country. Commissioned by Grishin Robotics, DENTONS the document looks to trigger a discussion on the INSURANCE LAW FIRMS IN GLOBAL ALLIANCE comprehensive legislative regulation of robotics. Four law firms from different parts of the world DRAFTS According to the law have banded together to form an alliance focusing firm, while there obvious on insurance. The new entity, Legalign Global 60% - The proportion of legal prospects for using robots departments in corporations that includes the UK-headquartered DAC Beachcroft, as autonomous human are currently using an alternative which has offices in cities like Auckland, Wellington LAW agents, these also gives rise legal service provider (ALSP) in and Singapore; Australia’s Wotton + Kearney; to a number of challenges. at least one service category, German law firm BLD Bach Langheid Dallmayr; The primary objective of according to the Thomson and Wilson Elser Moskowitz Edelman & Dicker from the concept draft law is to Reuters Legal Executive the U.S. While the four founding members offer FOR start a discussion on how Institute. The number is 51 more than just insurance advice, Legalign will focus to regulate robots in order percent for law firms. A further on the practice areas of insurance/reinsurance 21 percent of law firms and 14 to prepare for the spread of percent of corporations plan to coverage, insurance/reinsurance defence and ROBOTS emerging tech in daily life. use an ALSP in the next year. insurance regulatory and compliance. Average annual salary of recent graduates of Cornell Law School, which ranked first in Social Finance’s (SoFi) ‘Top Law Programs - Highest Salary’ list of U.S. educational institutions. Brigham Young University was found to have the best salary-to-debt ratio, while Florida Coastal School of Law came at the bottom of that list.
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