The need to maintain confidentiality during the secret merger talks between the SGX and ASX prevented a tender process, resulting in firms being handpicked in accordance to their track record.

The board of directors of the Singapore Exchange has announced that SGX and ASX have entered into a landmark Merger Implementation Agreement (MIA) today to combine their listing, trading, clearing and settlement capabilities to create the second largest listing venue in the Asia-Pacific, with combined pro-forma market capitalisation of approximately US$12.3bn as of 22 October 2010.

Singapore firms Allen & Gledhill and Stamford Law will act as Singapore counsel to the Singapore Exchange (SGX) and the Australian Stock Exchange (ASX) in the US$8.2bn merger that will see the combined entity become the world’s fifth largest stock exchange.

The first-ever listing of a Mongolian company on the Hong Kong Stock Exchange(HKSE) – also ranked as the second highest non-domestic, non-Chinese company listing in Hong Kong, after UC Rusal's US$2.2 billion IPO in January – has paved the way for an infrastructure and mining boom in Mongolia as international investments pour into the country’s natural resources sector.

Allen & Overy’s Jakarta operations is expanding: the firm has recruited of yet another key partner from Hadiputrano, Hadinoto & Partners (HHP), just three months after Daniel Ginting, a former energy and infrastructure projects partner, left the leading Indonesian firm to set up A&O’s Jakarta office.

Clyde & Co has poached Baker Botts arbitration specialist Steven Lim from Hong Kong to join the firm's Singapore office as a partner in its international arbitration team.

The US$1.2bn acquisitional financing of five gas power stations as well as a 54 kilometre gas pipeline for a group of associated companies in Mexico – all subsidiaries of Mitsui & Co and Tokyo Gas – is a sign of a resurgence in the Asia-Pacific project finance market and overseas acquisitions by Japanese utilities and trading companies.

Tier-one Malaysian firms Wong & Partners and Shook Lin & Bok have clinched one of the biggest Malaysian merger & acquisition deals this year – the 30% stake acquisition in Hong Leong Assurance Berhad. The deal makes Mitsui Sumitomo Insurance (MSI) the second largest general insurer in the country.

Norton Rose is beefing up its Asia-Pacific insurance by relocating London corporate partner Anna Tipping to head the Singapore-based practice.

Milbank has poached Mallesons Stephen Jacques partner Dieter Yih (who is also the vice-president of the Law Society of Hong Kong) to capitalise on the IPO listings boom in Hong Kong and benefit from strong deal activity in mainland China.