There have been a great deal of movement in ASEAN recently, on tax and investment related advice, with the economic emergence of countries such as Laos, Cambodia and Myanmar. In fact, recent reports, sees a great deal of movement by tax and investment attorneys, moving to form expertise on smaller emerging ASEAN economies.
About a month ago for example, Myanmar first investment banking-house opened, by a high-profile deal maker, coming at about the same time Myanmar was re-engineering its investment related laws. Then Laos, with a great deal of natural resources, that has attracted global investors, have also seen some tax and investment law firm, open up operations there.
- The following is from the Asian Lawyer:
The Asian Lawyer
By Tom Brennan
December 3, 2012
Shearman & Sterling and Thai law firm Weerawong, Chinnavat & Peangpanor are advising PTT Exploration & Production Pcl., on its $3 billion equity offering, the biggest such offering ever in the country.
PTTEP, a division of state-owned energy and petrochemicals company PTT Plc., will issue 650 million shares on the Stock Exchange of Thailand to existing stakeholders at $4.62 apiece in order to help fund its winning $1.9 billion bid for Cove Energy Plc., a British energy company that controls a piece of a key natural gas field off the coast of Mozambique.
Thailand has been searching for a variety of new energy assets in order to meet increasing demand at home. PTT in August made a $959 million offer to purchase the remaining 55 percent stake in Singapore-listed coal miner Sakari Resources, in which the Thai company already held a 45 percent share.
For PTTEP’s equity offering, Weerawong Chinnavat partners Peangpanor Boonklum and Chatri Trakulmanenate were lead advisers on Thai law. Shearman & Sterling Hong Kong partner Matthew Bersani acted for the company on matters of U.S. law.
Linklaters Bangkok partner Wilailuk Okanurak and Singapore partner Arun Balasubramanian represented joint bookrunners Bank of America Merrill Lynch, Deutsche Bank A.G., Finansa Securities Co. Ltd., Goldman Sachs Group Inc., J.P. Morgan, Phatra Securities Pcl., Tisco Securities Co. Ltd., and UBS A.G.
- Burma Business Roundup (Saturday, Dec. 15) (irrawaddy.org)
- Malaysia tops ASEAN’s Initial Public Offerings in 2012 but Thailand set to rocket up in 2013 (aseaneconomist.wordpress.com)
- Competitiveness: Can Yingluck rescue a tanking Thai Venture Capital & Private Equity industry with “Seed Money Fund?” (thaiintelligentnews.wordpress.com)
- Democracy: Thai Constitutional Court head, Wassan, on the “Dictatorship of the Majority” (thaiintelligentnews.wordpress.com)
- Going global by going local: “Thai Retail Giants target Foreign Tourist Heavy Phuket & Pattaya” (aseaneconomist.wordpress.com)