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WongPartnership has become the latest Singaporean firm to open an office in Myanmar, as the firm launches a regional strategy.
WongPartnership has opened a base in Myanmar’s Yangon, its second in the Association of Southeast Asian Nations (ASEAN) region. The latest opening comes after it entered into Malaysia by forging a strategic alliance with Malaysian boutique Foong & Partners last year (12 November 2013).
The base will initially be staffed by a local Myanmar paralegal and a Singapore-qualified lawyer, who will relocate from Singapore.
WongPartnership’s co-managing partner Rachel Eng said the firm’s strategy is to focus on growth in the ASEAN region.
“Myanmar has been a hot spot for foreign investments, and we’ve been advising a growing number of transactions and projects,” said Eng.
The firm has recently advised Myanmar Golden Star Beverage on its joint venture with South Korea’s Lotte Chisung Beverage, acted for Pan Pacific Hotels Group in its Yangon hotel development joint venture and assisted Amara Communications in its bid for a public telecommunications licence as part of a consortium.
“Asean is a focus point for us now,” said Eng. “In the early years, we followed our clients into China. Now, we’re also seeing the reverse - the Chinese state-owned enterprises and private enterprises are coming out of the country and into the ASEAN region. And we want to serve them in this region and capture that work coming out of China into ASEAN.”
Apart from Myanmar, Indonesia is another market that WongPartnership wants to enter into.
The past year has seen a number of leading Singaporean firm developing a regional network across South East Asia and Myanmar has been a popular destination. Earlier this year, Allen & Gledhill opened an association office in Yangon (25 February 2014). Rajah & Tann (1 February 2013), Colin Ng & Partners and Kelvin Chia Partnership also have an office in Yangon.