Singapore law firm Selvam & Partners has opened an office in Myanmar, making it the latest in a string of Southeast Asian outfits to set up in the country.
The firm, which plans to focus on corporate, project finance, technology, media and telecoms, and regulatory work, has launched with a team of 12 lawyers in the commercial centre Yangon, to be led by the firm's managing director in Singapore Krishna Ramachandra.
It will serve both domestic and international clients on investment into Myanmar as well as general commercial issues, with a special focus on matters involving the US Foreign Corrupt Practices Act (FCPA) and UK Bribery Act.
In addition to Yangon, Selvam has also signed a lease for an office in Naypyidaw, which is currently being renovated and which the firm expects to open in the near future subject to hiring the right staff.
The existing team on the ground includes two international partners, Ramachandra and an associate director of Selvam in Singapore Benjamin Kheng, in addition to three locally-qualified senior consultants, formerly a high court judge, an in-house lawyer at a bank and a senior partner from private practice.
Ramachandra said he would ideally like to have a team of 20 fee earners across the two offices, of which eight to 10 would be partners.
"We hope to open in Naypyidaw sooner rather than later," he said. "It is dependent on being able to identify the right staffing. The key challenge for us over the last 12 months has been identifying the appropriate skills sets. We want to make sure the quality is the same throughout."
Selvam & Partners currently has just one office in Singapore under the name Selvam LLC, in addition to a joint venture with US firm Duane Morris under the brand Duane Morris Selvam.
As an independent entity the firm works closely with other international outfits in Singapore on local aspects of corporate work and litigation. It has opened in Myanmar independently to continue these relationships.
"Increasingly we have had inquiries from international law firms in Singapore, so we want to be able to serve them in Myanmar.
"But Duane Morris Selvam will be launching in Myanmar too. It is an ongoing process, but should be imminent."
Myanmar has become increasingly popular with regional and international law firms in recent months, following the introduction of political reforms and a new foreign investment law.
No longer subject to US and EU sanctions, the country is now entering a period of development and prosperity, attracting interest from the international business community due to its strategic location between China and India, and a wealth of natural resources.
Other firms to have opened offices in Myanmar in the last year include Japanese law firm Nishimura & Asahi, Stephenson Harwood through an association with Myanmar law firm U Tin Yu & Associates, and Singapore law firm Rajah & Tann in association with NK Legal.
(Source:http://www.legalweek.com/)
