ALLEN & Gledhill (A&G) and WongPartnership (WP) continue to dominate Singapore's financial and corporate law market, says the latest International Financial Law Review 1000 (IFLR1000).
The annual publication, now in its 18th edition, is a guide to leading law firms for corporate finance worldwide.It says that A&G and WP continue to grab the 'lion's share of important deals' and explore 'avenues of growth' to 'sustain their positions at the top'.
A&G is ranked tier 1 in all four categories while WP is ranked tier 1 in two categories. Also making tier 1 for one category - restructuring and insolvency - are Rajah & Tann and Drew & Napier.
IFLR1000 says 'regional markets continue to be a source of opportunity' and the legal market is 'poised for greater sophistication'.
Noting that securitisation is still at a nascent stage in Singapore, it says loan packages are becoming more complex and innovative. This is because of the introduction of high-quality capital fund-raising and the growing popularity of retail structured notes and commercial mortgage-backed securities.
IFLR1000 notes that law firms are 'inundated with work' on acquisitions, alliances and joint ventures and are also kept busy by fund-raising activity, en bloc acquisitions and real estate lending.
Medium-sized firms such as Stamford Law Corporation and Venture Law are ranked tier 2 in some categories.
IFLR1000 says smaller players such as TSMP Law Corporation have broadened the depth of their practices, noting its recent joint venture with Australian firm Allens Arthur Robinson.
Recommendations are made based on face-to-face and telephone interviews with leading private practice lawyers and in-house counsel, IFLR100 says.
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