2023 has been characterised by continued economic challenges, geopolitical tumult, and strategic pivots by governments and businesses. Law firms in Asia emerging from this trial by fire have also harvested valuable takeaways to better navigate their jurisdictions’ shifting commercial and political landscapes.

Against a dynamic and rapidly evolving business landscape, dealmaking in Asia in the current year has been marked by resilience, innovation, and a strategic response to the challenges presented by the lingering effects of the COVID-19 pandemic. The region has continued to play a pivotal role in the global economy, with transaction lawyers navigating a complex terrain of geopolitical shifts and regulatory developments.

Hiswara Bunjamin & Tandjung (HBT), Herbert Smith Freehills’ Indonesia associate firm, has counselled cellular operator Telkomsel on its $434 million sale and leaseback of 4,000 telecom towers to mobile company Mitratel, which was advised by local firm Umbra.

SSEK Legal Consultants has advised Indonesian state-owned oil and gas company Pertamina on the sale of its controlling stake in one subsidiary, Pertagas, to another, PT Perusahaan Gas Negara (PGN), for $1.2 billion. PGN was counselled by Umbra.