Posts

Guide to Real Estate Industry in Vietnam

The real estate industry in Vietnam has witnessed remarkable growth and transformation in recent years, making it an increasingly attractive sector for investors and businesses. With a rapidly growing economy, a substantial urbanization rate, and a burgeoning middle-class population, cities such as Hanoi, Da Nang, and Ho Chi Minh City have transformed into vibrant and profitable metropolises.

1. System of Registration

Additionally, when the owner makes a request, the registration of ownership for houses and other land-attached assets follows the guidelines specified in Article 95.1 of the Land Law 2013. This process operates under the supervision of the land administration agency, following the requirements of Article 95.2 of the Land Law 2013.

2. Applicable Law

The main legislation which governs real estate transactions in Vietnam are as follows:
+ The Law on Real Estate Business No. 66/2014/QH13 (“LREB 2014”);
+ The Law on Housing No. 65/2014/QH13 dated 25 November 2014;
+ Land Law 2013;
+ The Law on Construction No. 50/2014/QH13.

3. Tenure and Ownership

There are two main categories of ownership and interests related to real estate in Vietnam:
+ Land Use Rights (LUR): This pertains to the right to exclusively use and manage the land in a specified manner.
+ Ownership of Attachments: This refers to owning the buildings and structures on the land, rather than the land itself.

4. Investing in Vietnam

Vietnam’s substantial economic rebound following the challenges of the Covid-19 pandemic and the Russia-Ukraine conflict is bolstering the expected recovery. This positive outlook indicates increased investor expectations for the real estate industry market in 2024.

5. Conclusion

In conclusion, the real estate industry in Vietnam is a vibrant and promising sector that offers both domestic and international investors numerous opportunities for growth and prosperity. With a robust legal framework, a stable economic environment, and a continually improving infrastructure, Vietnam has become a hotspot for real estate investments. Whether you are looking to invest in residential properties, commercial projects, or industrial developments, Vietnam provides a conducive environment for success.

For the full detail of this post, please reference on this link: http://hmlf.vn/guide-to-the-real-estate-industry-in-vietnam/

Harley Miller Law Firm “HMLF”

Regulatory Sandbox for Fintech Operators in Indonesia

Introduction

Digital Financial Innovation/Inovasi Keuangan Digital (“IKD”) also known as technological innovation in the financial sector among others include aggregators, credit scoring, financing agent, transaction authentication, financial planner, electronic–know–your–customer (E-KYC), reg-tech-eSign, etc., have experienced rapid advancements. However, it is crucial to mitigate the disruptive effects of digital technology to maintain stability in a country’s financial system, economy, and consumer personal data protection.

To address this, the Financial Services Authority (OJK) has implemented measures to mitigate the risks associated with IKD. The Financial Services Authority/Otoritas Jasa Keuangan (“OJK”) has issued the OJK Regulation Number 13/POJK.02/2018 of 2018, which focuses on Digital Financial Innovation in the Financial Services Sector (“POJK 13/2018”). These regulations aim to create a controlled environment for testing new financial technologies while minimizing potential disruptions to the financial system and economy with a maximum trial period of 1 year and 6 months.

Overview of OJK’s Regulatory Sandbox

Based on PADG 19/2017, a Regulatory Sandbox is defined as a limited safe trial space to test Financial Technology Operators and their products, services, technology, and/or business models. Meanwhile, according to Article 1 of POJK 13/2018, Regulatory Sandbox is a testing mechanism carried out by the OJK to assess the reliability of business processes, business models, financial instruments, and governance of the Operator.

So, it can be understood that the Regulatory Sandbox is a selection process by the competent authority for the concept of technological innovation in the financial sector to be offered by a fintech which must fulfill certain requirements and compliances during the specified period.

Implementation of OJK’s Regulatory Sandbox

Implementation of Regulatory Sandbox by OJK is carried out for IKD Operators. IKD Operators in question are Financial Services Institutions that have financial service activities in the banking sector, capital market, insurance, pension funds, financing, and other financial institutions. [1] IKD must be innovative and use information technology as the main means of providing financial services to consumers. By Article 4 POJK 13/2018, the implementation of a regulatory sandbox under the OJK is carried out to ensure that all IKD operators meet the following criteria:[2]

– Be innovative and future-oriented;
– Using information and communication technology as the main means of providing services to consumers in the financial services sector;
– Supporting financial inclusion and literacy;
– Useful and can be used widely;
– Can be integrated into existing financial services;
– Using a collaborative approach; and
– Take into account the aspects of consumer protection and data protection.

a. To be registered as IKD, Operators at least fulfill the following requirements:

be registered as IKDs within the Financial Services Authority or based on an application submitted by the relevant supervisory working unit at the Financial Services Authority;
– are a new business model;
– has a business scale with a wide coverage of the market;
– be registered at an association of Operators; and
– other criteria set out by the Financial Services Authority.

b. Implementation of the Regulatory Sandbox under OJK is carried out within a maximum period of 1 (one) year and can be extended for 6 (six) months if necessary. [3]

Result of Implementation of OJK’s Regulatory Sandbox

The results of the implementation of the Regulatory Sandbox by the OJK for the Operators will be stated with the following status: [4]

Recommended:

IKD Operator with recommended status will be given a recommendation for registration by OJK. Such Operators must submit an application for registration to the OJK no later than 6 (six) months after the recommendation status is determined, or the registration recommendation status will be revoked and declared invalid;

Need Improvement:

For operators with repair status, OJK can give time for the Operator to make improvements no later than 6 (six) months from the date of determination; or

Not Recommended:

If the status results are not recommended, the Operator cannot re-submit the same IKD and is removed from the record as the Operator.

Conclusion:

Regulatory Sandbox issued by OJK serves multiple purposes, not only as a policy supporting fintech innovation and future readiness but also as a means of safeguarding consumers and the broader community. It not only enhances user trust and confidence but also acts as a magnet for investors seeking investment opportunities.

[1] Article 1 number 2 POJK 13/2018

[2] Article 2 POJK 13/2018

[3] Article 9 POJK 13/2018

[4] Article 11 – 14 POJK 13/2018

Sources:

– Regulation of Members of the Board of Governors Number: 19/14/PADG/2017 of 2017 concerning the Limited Technology Testing Room (Regulatory Sandbox) Financial Technology
– Regulation of The Financial Services Authority of The Republic Of Indonesia Number 13/POJK.02/2018 of 2018 concerning Digital Financial Innovations Within The Financial Services Sector

This article has been contributed by Jodi Hizkia Hutagalung of Armila Rako, a corporate law firm based in Jakarta. The above article does not, and is not intended to, constitute legal advice; instead, this article is for general informational purposes only. Information contained in this article may not constitute the most up-to-date legal or other information. Should the readers have any inquiries, readers can contact the authors at jodi.hizkia@armilarako.com Any reliance on this article is at the user’s own risk.

YKVN corporate partner moves to Tilleke & Gibbins in Vietnam

Southeast Asian regional firm Tilleke & Gibbins has strengthened its corporate and commercial practice in Vietnam, hiring Tram Ngoc Bich Nguyen from Vietnamese law firm YKVN as a partner in Ho Chi Minh City.

Tram, who spent 16 years at YKVN and had been a partner since 2019 based in Ho Chih Minh City, advises clients on domestic and cross-border M&A transactions involving Vietnamese companies engaged in a broad range of business sectors.

She focuses on foreign investment and corporate matters, M&A, real estate, e-commerce, fintech, and data privacy, with expertise in advising foreign and multinational clients on investment in Vietnam, ranging from market-entry stage to expansion, corporate governance, internal rules and regulations, fundraising, restructuring, commercial transactions and employment.

In the real estate sector, Tram has a strong legal background in development, construction, management, operational and lease activities. She also assists multinational corporations in their adherence to local data protection laws and advises on issues such as platform and social network operations, terms and conditions, vendor contracts, e-contracting, cybersecurity, and data privacy.

Tram Ngoc Bich Nguyen

Mori Hamada & Matsumoto – Top Ranking Received

Mori Hamada & Matsumoto and our lawyers are recognized in the practice areas named below in Chambers Global 2021. Our Yangon Office, Bangkok Office (Chandler MHM Limited), Beijing Office, and their lawyers have also received prestigious rankings as shown below.

For more information, please refer to the Chambers’ website.

Mori Hamada & Matsumoto:

JAPAN

  • Banking & Finance: Domestic (Band 1)
  • Capital Markets: Domestic (Band 1)
  • Capital Markets: Domestic: Securitisation & Derivatives (Band 1)
  • Corporate/M&A: Domestic (Band 1)
  • Dispute Resolution: Domestic (Band 1)
  • Intellectual Property: Domestic (Band 2)
  • International & Cross-Border Capabilities (Japanese Firms) (Band 1)
  • International Trade (Band 2)

MYANMAR

  • General Business Law (Band 2)

THAILAND (Chandler MHM Limited)

  • Banking & Finance (Band 2)
  • Corporate/M&A (Band 2)
  • Projects & Energy (Band 1)

Lawyers:

JAPAN

Banking & Finance: Domestic

CHINA

  • Intellectual Property (International Firms)
    Foreign Expertise based abroad in Japan: Yoshifumi Onodera

MYANMAR

THAILAND (Chandler MHM Limited)

Maxwell Chambers Appoints New Chairman

Maxwell Chambers announced today the appointment of Mr. Daryl Chew as the Chairman of the Board of Directors.

Acclaimed as “one of the brightest” and “most highly regarded” partners in the Asia Pacific region by Who’s Who Legal, Mr. Chew brings more than 12 years of experience in international dispute resolution and is the Managing Partner of Shearman & Sterling’s Singapore office. He acts as counsel and arbitrator in arbitrations involving a wide range of applicable laws, arbitral rules and seats, with a focus on construction, energy, mergers and acquisitions, joint venture and general commercial disputes. Mr. Chew is the Co-Chair of the Young SIAC (YSIAC) Committee and also serves on the Singapore Management University School of Law Advisory Board and various other governmental, international and regional arbitration organisations and committees.

“I am honoured by the appointment and privileged to have the opportunity to serve an institution that is not only a lodestar for its counterparts in the region and across the globe, but which also has immense significance to me as a dispute resolution practitioner in Singapore.

Over the past decade, Maxwell Chambers has become an unmistakable feature in the international dispute resolution landscape; it has cemented Singapore’s position as a leading global dispute resolution hub. I am especially grateful to Philip for his leadership over these years, which has seen Maxwell Chambers go from strength to strength.

Maxwell Chambers is now an icon for ADR practitioners both in Singapore and abroad. I personally have vivid memories of the days on end spent in hearings on those premises. But as we navigate a more complex, postpandemic global landscape, where virtual meetings and hearings are more commonplace, I look forward to building on our solid foundations and collaborating with management and the Board to develop a shared vision for the next chapter.

We will remain singularly focused on refining our core offerings to add value and meet the diverse, evolving needs of users in the global ADR community. We are also committed to expanding our global footprint, adopting innovative and transformative technologies and exploiting greater synergies within the unique ecosystem of ADR stakeholders both within and outside of Maxwell Chambers.

This is an exciting time for Maxwell Chambers and the ADR community in Singapore and globally as arbitration continues its steady growth trajectory. We will continue our engagement and collaboration with our partners and stakeholders as we pivot to the future.”

Mr. Chew succeeds Mr Philip Jeyaretnam SC, who was recently appointed as a Supreme Court Judicial Commissioner. Under Mr Jeyaretnam’s leadership, Maxwell Chambers, an integrated alternative dispute resolution complex located in Singapore, has grown into a leading facility providing a range of custom-designed and fully equipped hearing rooms.

Of the 34 legal entities housed in Maxwell Chambers, there are 12 international institutions, of which 6 have case management offices, forming the highest concentration within such a facility in the world. These include the Singapore International Arbitration Centre, the Singapore International Mediation Centre, the International Chamber of Commerce International Court of Arbitration, the Permanent Court of Arbitration, the World Intellectual Property Organisation Arbitration and Mediation Centre, and the American Arbitration Association International Centre for Dispute Resolution.

In 2019, Mr Jeyaretnam championed the expansion at 28 Maxwell Road, Maxwell Chambers Suites, which now houses the local offices of top international ADR institutions, chambers, law firms and ancillary services.

Additionally, in 2020, Maxwell Chambers joined the Arbitration Place of Toronto and Ottawa and London’s International Dispute Resolution Centre to launch the International Arbitration Centre Alliance, a hybrid physical and virtual hearing platform, aimed at addressing distance, time-zone, and other challenges associated with planning and conducting international arbitration hearings in the wake of COVID-19.

Baker McKenzie: Helping Clients Do Business in Japan

W&C Advises on Telecommunication PPP Project in Indonesia

Global law firm White & Case LLP and exclusive Indonesian association law firm Witara Cakra Advocates (WCA) have advised the lenders on the financing of the US$540 million Indonesia Government Multifunction Satellite Public Private Partnership (PPP) Project.

“This exciting project will harness satellite-based connectivity to bring significant social and economic benefits to remote parts of Indonesia,” said White & Case partner Mukund Dhar, who co-led the Firm’s deal team. “It is a unique transaction which demonstrates the cross-border experience and cross practice capabilities our clients rely on us for when financing first-of-their kind major satellites in the telecommunications sector.”

Indonesia’s Ministry of Communication and Informatics (KOMINFO) initiated the Government of Indonesia Multifunctional Satellite PPP Project to provide fast internet access to remote areas in Indonesia, which can be accessed by various government sectors, such as maritime, education, health, agriculture, communication and others. Satellite-based connectivity is the only feasible access technology to cost-effectively address these remote locations.

The Project is being executed by PT Pasifik Satelit Nusantara (PSN), the first private satellite-based telecommunication company in Indonesia, through its subsidiary PT Satelit Nusantara Tiga (SNT).  French aerospace manufacturer Thales Alenia Space is constructing the satellite which will have a capacity of 150 gigabytes/second in the Ka-Band frequency.

“This is the first telecommunication satellite PPP Project in Indonesia and will support the Government of Indonesia’s goal to provide connectivity to more than 149,000 Public Service Points in the country,” said White & Case partner Tom Bartlett, who co-led the Firm’s deal team. “These points will include schools, health centers and local villages, connecting approximately 45 million individuals.”

The financing was provided by a number of financial institutions including the Asian Infrastructure Investment Bank (AIIB), a multilateral financial institution focused on Asia and commercial banks, HSBC, Banco Santander and Korea Development Bank (KDB), and guaranteed by Banque publique d’investissement (Bpifrance), the French Export Credit Agency.

The White & Case and WCA team which advised on the transaction was led by partners Mukund Dhar and Tom Bartlett (both London) and included association partner Fajar Ramadhan (Jakarta), partners Jason Kerr, Swati Tripathi and Ingrid York (all London), partner of counsel Sylvia Chin (New York), counsel David Wright (London) and Fern Han (Houston), and associates Dayle Perles Fattal, Tom Wilkinson, Eduardo Barrachina and Matt Steele (all London), Deborah Victoria and Janet Lim (both Jakarta), Amr Jayousi (Houston), Surya Gopalan (New York) and Berdine Geh (Singapore).

India & Vietnam: Increasing Trade and Investment Relations

The year 2020 marks the 42nd anniversary of India-Vietnam bilateral trade. Vietnam and India have shared strong bilateral relations historically, and for the past two decades, trade between the two countries has risen considerably. These economic ties have materialized into several Indian investments in Vietnam in various sectors.

The enormous volatility in the global trade environment has pushed businesses into diversifying their supply chains away from China, which has increased the importance of the India-Vietnam trade route for international business.

India, which is one of the fastest-growing economies in the world, currently ranks fifth globally in terms of GDP. The ASEAN-India Free Trade Area (AIFTA), which Vietnam is a part of, was established in 2009 as a result of convergence in interests of all parties in advancing their economic ties across the Asia-Pacific.

Vietnam’s manufacturing industry has rapidly emerged as a highly effective location for incoming electronics and telecom manufacturers who are relocating from China due to increased costs and the US-China trade war. The country has bolstered investor confidence with quick and efficient containment of the COVID-19 pandemic. Vietnam is becoming a leading choice for major companies looking to set up their new manufacturing hubs and diversify their supply chains.

India has significant expertise in IT services, pharmaceuticals, and oil & gas, all of which can significantly benefit Vietnam. Additionally, there are export opportunities in zinc, iron, steel, and man-made staple fibers from India to Vietnam.

A large middle class in India’s 1.3 billion population and its customs-duty exemption for ASEAN products make it a lucrative destination for Vietnamese exports. There is a notable scope for the development of services related to wholesale & retail trade, transportation & storage, business support along with trade opportunities in cotton and knitted clothing.

Bilateral trade

Over the past two decades, bilateral trade between Vietnam and India has steadily grown from US$200 million in 2000 to US$12.3 billion in the financial year 2019-2020.

The two countries aimed to raise bilateral trade to US$15 billion by 2020, but COVID-19 related trade disruption resulted in a 9.9 percent trade shrinkage to US$12.3 billion in the last financial year. Vietnam has emerged as the 18th largest trading partner of India, while the latter ranks seventh among Vietnam’s largest trading partners.

Exports from Vietnam to India include mobile phones, electronic components, machinery, computer technology, natural rubber, chemicals, and coffee. On the other hand, its key imports from India include meat and fishery products, corn, steel, pharmaceuticals, cotton, and machinery.

After India announced its decision to opt-out of the Regional Comprehensive Economic Partnership (RCEP), the India-ASEAN FTA is expected to be reviewed to compensate for the potential trade loss.

Foreign direct investment

Vietnam’s strategic location close to existing manufacturing hubs, its favorable position in accessing other Southeast Asian markets, and its proactive approach towards opening its markets to the world has helped it gain popularity as an attractive manufacturing and sourcing location.

The rising importance of Vietnam in global supply chains has the potential to strengthen India-Vietnam ties further. India is estimated to have invested nearly US$2 billion in Vietnam including funds channeled via other countries. Over 200 Indian investment projects in Vietnam are primarily focused on sectors including energy, mineral exploration, agrochemicals, sugar, tea, coffee manufacturing, IT, and auto components. Several major Indian businesses such as Adani Group, Mahindra, chemicals major SRF, and renewables giant Suzlon have shown interest in venturing into Vietnam.

India’s salt to IT conglomerate Tata Coffee recently inaugurated their 5000 MTPA freeze-dried coffee production plant in Binh Duong province of Vietnam last year. This US$50 million coffee facility was commissioned within 19 months of the ground-breaking ceremony.

Another example is HCL Technology Group, which is considering establishing a US$650 million technology center in Vietnam and plans to recruit and train over 10,000 engineers within the next five years.

With the implementation of major infrastructure projects like Tata Power’s Long Phu – II 1320 MW thermal power project worth US$2.2 billion, the investment figures are expected to rise considerably. The thermal power project was first coined in 2013 and was originally expected to be fully operational by 2022, but the revised seventh Power Development Plan (PDP7) indicates an eight-year delay, shifting its launch to 2030.

This delay appears to be due to Vietnam’s shift toward renewable energy. Nevertheless, opportunities remain for Indian investors in the renewable energy industry, specifically in solar and wind due to increased power demand. Reports indicate that the Tata group is in talks of investing further in solar- and wind-power projects.

Opportunities for Indian investors

Vietnam provides several lucrative reasons to invest such as increased access to markets, favorable investment policies, free trade agreements, economic growth, political stability, low labor costs, and a young workforce. As per a Standard Chartered report on trade opportunities, Vietnam’s exports to India have the potential to grow by 10 percent annually, or approximately US$633 million. This projected growth is primarily focused on goods export (53 percent) and services (46 percent).

Pharmaceutical

Vietnam’s domestic pharmaceutical industry is currently able to meet just 53 percent of the country’s demand, representing significant opportunities for Indian investors as India is among the leading global producers of generic medicines supplying 20 percent of total global demand by volume. There is an enormous potential for Vietnam to purchase generic medicines from India, but the former is actively trying to get Indian pharmaceutical companies to manufacture in Vietnam instead of importing.

Agriculture

Vietnam is seeking alternate buyers for its agricultural exports, after the reduction in demand from China due to the pandemic. Lifting India’s trade barriers on the import of agricultural products can open a new market for Vietnamese agricultural exporters. Also, there is a significant potential for investment in breeding technology, irrigation technology, and storage facilities. Vietnam’s topography, climate, and fertile soil make it suitable for coffee plantations. The TATA group has expressed plans of investing in the installation of agricultural machinery to serve demand in the Mekong Delta.

Tourism

The tourism industry in Vietnam is a largely untapped market sector for Indian businesses, which is likely to gain strong traction after the pandemic. The country received over 15.5 million international arrivals in 2018, a seven-fold increase from 2.1 million in 2000. Over 31,400 Vietnamese visited India the same year, a 32 percent increase from the previous year. India is a preferred destination for Vietnamese pilgrims and medical tourists.

India’s low-cost carrier Indigo launched direct flights linking India’s Kolkata with Vietnam’s Hanoi and Ho Chi Minh City in November 2019. Following this launch, Vietnamese low-cost carrier, Vietjet Air started direct flights connecting India’s New Delhi with Hanoi and Ho Chi Minh City. Improved connectivity will help Vietnam in diversifying its tourism portfolio, which currently is largely dependent on Chinese and South Korean tourists.

SMEs

SMEs play a large role in both India’s and Vietnam’s economies. Most recently, India and Vietnam held a promotion conference titled ‘Boosting trade-investment cooperation opportunities between Vietnamese and Indian SMEs’ organized by Vietnam’s Trade Office of the Vietnamese Embassy in India, India’s Uttar Pradesh state government, the Indian Industries Association (IIA), and Vietnam’s Hanoi SME Association. The takeaway was that several major businesses have shown interest in coming to Vietnam.

The IIA noted that Vietnam is looking to attract investment in sectors such as energy, mineral exploration, agriculture, tea, IT, and automobiles. Nevertheless, challenges remain regarding high corporate income tax rates for specific sectors such as oil and gas.

SMEs contribute close to 40 percent of India’s exports but also need government support to thrive. Indian SMEs will have to further internationalize. For example, India’s Tamil Nadu state has a diversified manufacturing industry dominated by SMEs with a number of factories and special economic zones. However, at the moment, SMEs in Tamil Nadu are yet to connect to business opportunities in Vietnam. This is a missed opportunity. As per ADB such businesses can connect through India’s Market Access Initiative and Market Development Assistance schemes to tap into potential businesses and market sectors.

Apart from streamlining regulatory standards between both countries, both governments will also have to hold seminars, events, and trade fairs to ensure that SME are aware of the various opportunities in the relevant market fields.

Supporting industries

Vietnam is an attractive destination to produce and export, thanks to its assortment of free trade agreements with several countries, allowing products to be exported to these countries with attractive low tariffs. There is a need for the development of the local supporting industry to support major manufacturers, and Indian businesses have the potential to fill the gaps in this sector.

Takeaways

With Vietnam’s strong economic growth in the past few years, a review of the India-ASEAN free trade agreement is necessary to foster further trade in promising emerging sectors between both countries. As per Vietnam’s Foreign Investment Agency (FIA), India had almost 300 projects in Vietnam accounting for almost US$900 million as of December 2020.

As pointed out by the Standard Chartered report, there is considerable scope to increase trade between India and Vietnam should both governments take a proactive approach to trade and investment and realize this potential.

 

China – Mergers and Acquisitions

One of the most common ways for a business to gain access to the China market is through acquisition of, or merger with a local company. But Chinese laws that govern foreign acquisition are complex and you may need to bring in a third party to accomplish it. And there’s another consideration, the resulting entity operates differently than a standard business, do it’s important to understand the rules.

That’s why if you are considering a merger or acquisition in China, you need the legal team at IPO Pang. IPO Pang has plenty of experience negotiating and closing mergers and acquisitions, representing either buyers or sellers. Their team has a strong understanding of how to get the job done, the law and the customs must be followed if you want to pull of the transaction on time and on budget.

There are a number of things that can slow or even stop the deal. Poor due diligence, inadequate understanding of regulatory legal and political risks, or underestimating the timetable to complete the deal. IPO can help withs with every aspect of a merger and acquisition from start to finish. They often represent the foreign party on a hybrid structure fee so they share the risk and with skin in the game, they will make sure the deal gets done to your satisfaction.

Whether you want to buy or sell, the best investment you will make is teaming up with IPO Pang.

Read out to them via info@ipopang.com or visit www.ipopang.com, you can also call them.

Article By Peter C. Pang

 

HONG KONG HK

K&L Gates Expands Hong Kong Office With Former Orrick Team

K&L Gates has recruited a team of three partners specializing in an integrated funds and private equity practice.

Sook Young Yeu, Scott Peterman and William Ho all join from Orrick Herrington & Sutcliffe, which has decided to close its Hong Kong office. Yeu and Peterman, both funds specialists, were partners with Orrick while Ho, who advises on private equity transactions, was of counsel with the firm. The trio are joined by two associates at K&L Gates.

Yeu, who led Orrick’s Hong Kong office since joining in 2005 through Orrick’s takeover of legacy Coudert Brothers’ China offices where she had been practicing since 1989. She’s advised Asian investors on investing U.S. and other cross-border funds and on private equity investment.

Peterman has an active fund formation practice advising the structuring of various private, investment and real estate funds. Last year, he advised Hong Kong-based fund manager Pacific Hawk Ltd. on launching the first open-ended fund in the city following legislative change. He joined Orrick in 2017 from Jones Day where he was of counsel. Before that, he was a partner with Sidley Austin.

Ho focuses his practice on advising private equity houses and companies on fund raising transactions, investments and mergers and acquisitions. In May, he advised Taiwan-based live streaming site operator M17 Entertainment Ltd. on a $26.5 million Series D from investors including Singapore-based venture capital fund Vertex Growth Fund. Ho joined Orrick in 2018 from Paul, Weiss, Rifkind, Wharton & Garrison where he was an associate for three years. Earlier in his career, he trained and practiced with Slaughter and May.

The trio bring in-depth industry experience in the technology, media, telecommunications, and fintech sectors, said David Tang, K&L Gates’ Hong Kong-based Asia managing partner, in a statement. “The additions of Sook, Scott, and Will significantly broaden and deepen our funds and private equity practices in Asia,” he said.

Last year, K&L Gates added in Hong Kong capital markets partner Guiping Lu from elite Chinese firm Haiwen & Partners.