RISING tensions between the United States and China present Asian law firms with a “huge opportunity”, as the region is likely to benefit given its reputation for being politically stable, said Rajah & Tann managing partner Patrick Ang on Thursday (Feb 27).
Also, as the China-US rivalry leads to an increase in geopolitical tensions, it means businesses need more advice and solutions to navigate this tricky environment, said Ang.
This has been a positive for law firms and businesses in Asia, allowing the region to rise as well, he added.
South-east Asia is now in the spotlight, and is poised to grow thanks to its political stability and relatively young workforce. Singapore, too, has an opportunity to be at the centre of these developments and catalyse Asean’s growth, he said.
The Johor-Singapore Special Economic Zone (JS-SEZ) agreement between Singapore and Malaysia is one such opportunity for Singapore to tap opportunities in Asean.
“I can tell you we are looking actively (at it), no secret about it. I think most firms will look at it too, he said. “So my message to my young lawyers is that you are very lucky to be in Asean.”
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Ang made these comments at a press conference on Thursday afternoon, where he announced that he will be stepping down as managing partner on Apr 1, 2025. He will be succeeded by deputy managing partner Ng Kim Beng.
Expanding abroad
Outlining his priorities as new managing partner, Ng said the firm is actively looking for opportunities to grow its presence regionally, as it seeks to further strengthen its “Asian branding” on the international stage.
The Singapore firm is a member of the wider Rajah & Tann Asia group, which is a network of legal practices based in the region, including Cambodia, Indonesia, Laos and Thailand.
In 2024, R&T Singapore opened a second office in Shenzhen, China, after opening its first representative office in Shanghai two decades earlier. It is seeing demand for its dispute resolution services.
When deciding on future expansion opportunities, the firm will look for areas where there are opportunities in terms of economic activity and demand for legal support and services, said Ng.
“The other part of the equation, which is perhaps even more critical for us, is the potential role that we play and the relevance of our being there.”
That is why it took some time to set up the second representative office in Shenzhen, as the firm needed to study the market to decide on the most optimal location.
Aside from China, R&T is seeking opportunities in East Asia and the Middle East – a jurisdiction which “continues to interest and excite us”.
As for where it would not make sense for the firm to operate, Ang indicated that it is unlikely to consider Australia, for example. Neither is the firm considering Hong Kong, as it is more interested in bringing business from the city to its Shenzhen office.
“The idea is not to plant a flag for the sake of planting a flag,” said Ng. “It has got to be adding strategically to the growth of the firm.”
