After a slow start to Thailand’s dealmaking scene in 2023, mergers and acquisitions (M&A) activities are expected to tick up in the second half of the year, with businesses finally taking their feet off the brakes. But lawyers say that companies need to navigate not just tight monetary conditions and heightened geopolitical risks, but also a murky political situation in Thailand. 

The role of general counsel at pharmaceutical and healthcare companies has become increasingly complex, particularly with the increased focus on health and wellbeing following the COVID-19 pandemic.

The Thai Corporate Counsel Association (THAI-CCA) was launched in June with a mission to rejuvenate Thailand’s in-house community and expand its reach across the region. Sahachai Wibuloutai and Thitiwat Wisarath, co-founders of Thailand’s first corporate counsel association, share their vision for the organisation and how they are planning to tackle future challenges to achieve their goals.

South Korea’s major lenders are staring at a fundamental shake-up to their decades-long dominance of the country’s commercial bank sector, following the introduction of new rules. The South Korean Financial Services Commission (FSC) said in July that regional banks and financial firms will be allowed to apply for nationwide commercial bank licenses. “The government will proactively consider new approvals if accompanied by sufficient financial resources and feasible business plans,” said Kim Joo-hyun, chairman of the FSC, in front of major financial groups in the country.

In recent years, the traditional pricing arrangement between a law firm and a client has been increasingly challenged by requests for alternative frameworks, while the turbulent economic environment has further squeezed budgets on legal spending. Law firms in Asia share what they have experienced with clients’ demands in fee arrangements and how they are navigating the new dynamics to achieve continued profitability.

In July, a court in France issued a verdict that was hailed by the Malaysian government as a “decisive victory” in its decades-long dispute with a group of alleged Filipino heirs of a 19th-century sultanate over claims to Malaysian state assets overseas.

Macau law firm DSL Lawyers is set to integrate with domestic counterpart MdME, according to the leaders of both firms. The combined firm, with 12 partners, will operate under the MdME brand.

As in-house legal teams grow increasingly sophisticated, they are beginning to demand more from their law firms. And while many law firms meet their standards, there are some that cause frustration due to issues with billing, lack of expertise and attentiveness, and occasional outright incompetence. ALB looks into what in-house counsel based in Asia value in their law firm partners, and what will break their trust once and for all.

General counsel want their external law firm partners to know their stuff and stay on top. Law firms in Asia talk about how they strive to keep their clients up to date to minimise friction and also help achieve their business goals.

U.S. law firm Latham & Watkins is closing its Shanghai office, launched in 2005, as it looks to consolidate its mainland China presence.