Duane Morris & Selvam LLP Appoints Suilyn-Yip as Head of Venture Capital

SINGAPORE,  August 19, 2024 — Duane Morris & Selvam LLP is pleased to announce the appointment of Suilyn Yip as Head of Venture Capital. Suilyn, a distinguished partner in the firm’s full-service corporate practice, will bring her extensive expertise in corporate law to this pivotal role, further enhancing the firm’s venture capital practice and solidifying its position as a leading advisor in the sector.

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美国财政部发布限制某些美国对华投资的行政令的拟议规则

2024年6月21日,美国财政部发布了一份拟议规则的通知,以执行2023年8月9日发布的第14105号行政令(EO 14105)。美国欲借助该行政令来防止一些受关注国家利用美国的对外投资来发展对军事、情报、监视或网络能力至关重要的敏感技术或产品。

该拟议规则将对美国在有关国家(包括中国)涉及半导体和微电子、量子信息技术或人工智能的某些投资施加通知要求,在某些情况下还将施加禁止要求。

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Duane Morris & Selvam Appoints Ramiro Rodriguez Head of Mergers and Acquisitions Department and Funds Industry Practice

SINGAPORE, 12 July 2023 ― Duane Morris & Selvam LLP is pleased to announce the appointment of director Ramiro Rodriguez as the head of its mergers and acquisitions (M&A) department and its funds industry practice. With this strategic appointment, Duane Morris & Selvam reinforces its commitment to delivering exceptional legal services and further strengthening its position as a trusted advisor in the industry. Continue reading “Duane Morris & Selvam Appoints Ramiro Rodriguez Head of Mergers and Acquisitions Department and Funds Industry Practice”

New Incentives for Family Offices

New Incentives for Family Offices

At the 50th anniversary of the Association of Banks in Singapore (“ABS”) last Friday, Senior Minister and Monetary Authority of Singapore (“MAS”) chairman Mr. Tharman Shanmugaratnam announced that improvements will be made to the tax incentive scheme for single family offices (“SFO”) in Singapore. These include providing tax privileges, incentives or grants for contributions to charity, channelling capital towards blended finance and investing in the mitigation of global climate change.  Further details of these will be announced by the MAS in July.

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The Appointment of Daniel Soo as the Head of Selvam LLC’s Restructuring and Insolvency Group

SINGAPORE, 14 October 2022 ― Selvam LLC is pleased to announce the appointment of Daniel Soo as the head of its Restructuring and Insolvency Group. Soo will continue as a partner in the firm’s Litigation and Dispute Resolution Group.

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MAS amends Sections 13O & 13U Application Guidelines for Family Offices in Singapore

MAS Amends Sections 13O and 13U Application Guidelines for Family Offices in Singapore

The Monetary Authority of Singapore (MAS) has amended its requirements for family offices[1] applying for tax incentive schemes pursuant to Sections 13O and 13U of the Income Tax Act 1947 (the Act). The following amended policies apply to all first preliminary submissions received by MAS on or after 18 April 2022 for these schemes, and MAS may require applications that have received no communication from MAS for a span of at least six months to be resubmitted under the amended guidelines. The following applications are not subject to the amended policies:

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Singapore Implements Sanctions Against Russia

Ever since Russia’s act of aggression against Ukraine that began on 24 February 2022, the United States and several of its key allies have successively imposed significant sanctions against Russia. These sanctions range from prohibitions on trade and investment in certain regions of Ukraine and the designation of specific  nationals that cannot interact with the market and financial system of United States, to imposing new sovereign debt restrictions and even cutting Russia further off from the global economy by removing them from the Society for Worldwide Interbank Financial Telecommunication (aka SWIFT) messaging system and disconnecting them from the international financial system, making them no longer able to operate globally. On 8 March 2022, the Biden administration also announced that the United States would be banning the import of Russian oil.

Singapore has joined these efforts, with Minister for Foreign Affairs Dr. Vivian Balakrishnan issuing a Ministerial Statement in Parliament on 28 February 2022, stating that Singapore intends to impose its own sanctions against Russia. On 5 March 2022, the Ministry of Foreign Affairs (MFA) issued a press statement with two factsheets that set out the details of the economic sanctions and restrictions.

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Duane Morris & Selvam acts on Affle’s INR 6 billion (US$82 million) QIP

SINGAPORE, 25 May 2021 – Duane Morris & Selvam LLP acted as international legal counsel to Axis Capital, Nomura and UBS, in their role as the book running lead managers, on the sale of INR 6 billion (US$82 million) of equity shares in Affle (India) Limited in a qualified institutions placement, including concurrent private placements outside India.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagement, acquisitions and transactions through mobile advertising, as well as platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud.

The Duane Morris & Selvam team was led by Jamie Benson, the head of the firm’s US capital markets and India practices, and also included Zabrina Hamid, Wang Bei, Justin Santarosa, Jacob Low and Yeo Ming Ze.

Induslaw acted as Indian counsel to Affle and J. Sagar Associates acted as Indian counsel to Axis Capital, Nomura and UBS.

About Duane Morris & Selvam

Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City as well as offices in Shanghai and Yangon. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan, as well as an alliance in Sri Lanka. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.

Best Lawyers Singapore 2022 recognizes Duane Morris & Selvam Partners

Singapore, 3 May 2021 – Duane Morris & Selvam is pleased to announce that 5 of our partners have been recognized across 8 practices in the 2022 edition of Best Lawyers. Best Lawyers is a peer review guide to the legal profession and lawyers are nominated by their peers.

Arbitration and Mediation ·         Sarbjit Singh Chopra
Banking and Finance ·         Arfat Selvam
Capital Markets Law ·         Gerard A. Hekker

·         Jamie Benson

·         Krishna Ramachandra

Corporate Law ·         Arfat Selvam
Mergers and Acquisitions Law ·         Arfat Selvam

·         Krishna Ramachandra

Mutual Funds ·         Arfat Selvam
Private Equity Law ·         Krishna Ramachandra
Private Funds ·         Arfat Selvam

About Duane Morris & Selvam

Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City as well as offices in Shanghai and Yangon. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan, as well as an alliance in Sri Lanka. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.

© 2009- Duane Morris LLP. Duane Morris is a registered service mark of Duane Morris LLP.

The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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