Thailand

Axis Legal is a full-service law firm headquartered in Bangkok. Key figures at the firm include partner Peter Burke. 

Focusses / specialisms   

The firm is noted for its work in the corporate and M&A space, where its experience includes advising on buy and sell side acquisitions, joint ventures, restructurings and divestments in sectors such as consumer goods, industrials, telecommunications and manufacturing.

Research period review: 33^rd edition (2022/2023)   

During the research period, the firm acted for international clients on several confidential acquisitions, joint ventures and divestments.

In staff changes, associate Boonbadin Ngamjit in the corporate and M&A team moved to Decha & Co.

Active in the Thai market since 1974, Bangkok-headquartered full-service firm Chandler MHM has market-leading banking and finance and project development practices. Membership of the MHM network allows the firm to cater to clients’ needs across the region. The firm also extends its reach globally through its membership of the World Law Group.

Focusses / specialisms   

The banking team has experience advising local and international clients as borrowers and lenders across a range of financing mandates.

The firm has built up its capital markets practice, particularly in the REITs space, and often acts for clients such as issuers, fund managers, underwriters and trustees.

Membership of the MHM network provides the firm with an edge in the M&A space, and the firm often acts for Japanese clients.

The projects team regularly acts for sponsors and lenders in renewable projects across the region.

The firm has quickly established itself as a strong player in restructuring and insolvency with creditor side roles on high-profile transactions.

Key clients  

Key clients include Import-Export Bank of Thailand, Bangkok Airways, Bangkok REIT Management, Muangthai Capital, Park Origin 12 and Green Power 2.0.

Research period review: 33^rd edition (2022/2023)   

During the review period, the firm was responsible for several confidential financing mandates.

In capital markets, the firm continued to be active on notable mandates in the REITs space, having advised on the first REIT invested in airport properties in Thailand and it is currently one of the five largest REIT IPOs in Thailand.

In M&A, the firm always acted for the acquirer on acquisition in different sectors, such as information technology, energy and consumer goods.

The firm was also responsible for several confidential project development and restructuring and insolvency mandates.

In staff changes, the firm lost partner Maria Makanas who retired and Foifa Tharaphan who moved to Citibank.

Deal highlights: 33^rd editi.on (2022/2023)   

Bless Asset Group’s IPO

CapitaLand Investment’s acquisition of the “Oakwood” serviced residence brand.

Neogen Corporation’s acquisition of 100% of the shares in Thai-Neo Biotech Co.

Roojai Co’s bond issue.

Client feedback: 33^rd edition (2022/2023)   

Asset finance

“Chandler MHM has been extremely responsive, proactive and diligent in handling all our matters. They conduct their work in a professional manner and have so far not failed to give us thorough and practical advice.” 

Bank lending

“Chandler MHM's team gave me some advice on the term sheet and the facility agreement, they also prepared the CP document and reviewed on tax issues.”

Capital markets

“The adviser has sufficient knowledge of the regulations and laws related to the brokerage business.”

“They have understood all the rules of REIT and give very good advice.”

Insolvency

“Timely and reliable responses and taking the initiative to inform the client regarding the progress of the matter and related developments.”

Investment funds

“Our experience working with the team at Chandler has been very positive. They clearly have a niche in the market for this type of work and are very dedicated and client-focused. This respected team can be relied upon to handle a broad spectrum of work including the most complex transactions. Importantly for us, the team is adept at dealing with government authorities.”

M&A

“CMHM has professional teams to support our inquiries in various fields of laws. Their advice not only provides professional opinions after reviewing relevant laws but also attaches related reference law/supreme court judgments to confirm their advice. Besides, they also have a person who is fluent in Japanese to support a Japanese company.” 

Project development

“They understand what we need to achieve, and they are able to advise us on the best way to move forward and also to protect us.” 

Project finance

“Communicate well and give feedback on time, helping solve our demand on agreement.”

“Their knowledge of the appropriate security package that is required for lenders and other key covenants required under project financing.”

Restructuring

“Excellent service, fast feedback, great knowledge and expertise of the areas where we ask for help.”

David Beckstead

“He was very attentive and understood what we needed to achieve.”

“Very helpful, approachable and generous with time and advice – during, post deal and even when soliciting them for potential engagement work. The advice given is typically very relevant and commercial to the client.”

Sarunporn Chaianant

“She's very friendly and easy to communicate/discuss with. She did well in handling the borrower's emotions and complications.”

Susumu Hanawa

“Susumu is clearly very knowledgeable and experienced and is therefore able to provide sound relevant commercial advice which benefits all parties. This is particularly the case with multi-jurisdictional and some of the more complex novel matters. He is very responsive and amicable, our first choice in the Thai markets and a great support for us. We would highly recommend him as a trusted partner.”

 Wongsakrit Khajangson

“Mr.Wongsakit is knowledgeable in his work. Dedicated to studying and giving advice carefully and able to complete work quickly in tight deadlines.”

 Pranee Klinratana

“Her extensive experience and knowledge in real estate development and financing are noticeable. She and her team always work hard and come up with ideas and solutions that are acceptable to the parties, while looking after our interests. Her work products are superb with high standard, and always meet our tight timeline to achieve financial close.” 

Pranat Laohapairoj

“Knowledgeable, responsive and thorough.”

“Sharp and precise. Always responsive.”

Tip-apa Limvichai

“Works fast and professional.”

 Akrapol Pichedvanichchok

“Good knowledge and experience.”

Disaporn Saengpetch

“He is a very hard-working person, nice, kind and always gave us some advice.”

 Supattra Sathapornnanon

“She is able to communicate clearly and convincingly, as she produces all agreements for my bank.”

 Jessada Sawatdipong

“Wide and in-depth knowledge with excellent negotiation strategy and skill.”

Chotiwut Sukpradub

“Very responsive, very practical and advice is commercially on-point. A very capable lawyer.”

Namita Tangphithakphaibun

“She always responds to my work all the time and gives good advice to my team.”

Tananan Thammakiat

“She understands all the rules of REIT and gives the best solution for due diligence.”

 Norrapat Werajong

“Norrapat is an excellent communicator and provides clear and relevant advice.”

R&T Asia (Thailand) is a member firm of Rajah & Tann Asia. The Bangkok office has grown to almost 60 lawyers. The team is made up of leading individuals and is led by renowned managing partner Surasak Vajasit, a former judge, recognised as a legal heavyweight in Thailand. 

Focusses / specialisms  

The firm has in-depth experience in banking and finance matters, including high-profile transactions and complex cross-border matters.

The firm is also well known for structuring foreign investment approvals, corporate commercial matters for investors, and providing wide-ranging assistance in regulatory and licensing issues.

Key clients  

Key clients include Krungthai Bank, Mitsubishi Corporation and Fujifilm Business Innovation.

Research period review: 33^rd edition (2022/2023)   

During the review period, the firm was responsible for several confidential banking, M&A and restructuring and insolvency mandates.

Deal highlights: 33^rd edition (2022/2023)   

Krungthai Bank’s committed credit facility agreement.

Founded in 1990, independent law firm Siam Premier International Law Office is a well-known name in the Thai market for high-quality corporate and M&A work. The firm maintains its offices in Bangkok. 

Focusses / specialisms   

The firm works on domestic and cross-border corporate and M&A transactions for clients such as buyers, sellers and targets. The firm has experience in sectors such as automotive, aviation, food & beverage, healthcare, pharmaceuticals, insurance, mining, energy, real estate, logistics, technology and telecommunications. 

Key clients   

Key clients include Krungthai Bank.

Research period review: 32nd edition (2021/2022)

In banking, the team was busy with financing and refinancing work.

The capital markets team was particularly active on equity mandates. It mainly acted for issuers on IPOs.

The firm was also responsible for several confidential M&A mandates.

In staffing changes, the firm expanded its team with the hires of partners Maythawee Sarathai from Hunton Andrews Kurth and senior counsel Tassanu Chutikanon from Kennedys’ Bangkok office. 

Deal highlights: 32nd edition (2021/2022) 

TMB Thanachart Bank’s syndicated loan.

Client feedback: 32nd edition (2021/2022)           

Banking and finance

“We find their deep bench of team members and solution-focused approach invaluable to our business in Thailand.”

M&A

“Dedicated, good advice to seek solution for company, fast delivery and result over expectation.”

“Helping negotiate and quickly review and respond on the M&A transaction.”

“Siam Premier always provided timely and high-quality advice to us. The firm is familiar with what Japanese clients really expect, which helped us to satisfy our client's expectation.”

Chatchavej Chitvarakorn

“Hard, smart work and solving problems for the client.”

Siripun Kriangwattanapong

“Siripun is one of the most client-focused and solution-focused lawyers we have worked with in any jurisdiction. Her deep knowledge of private credit transactions and our approach to due diligence and execution is unparalleled. Dynamic, responsive and knowledgeable.”

Linda Osathaworanan

“Managed her team members and the entire case very well,providing high-quality services to the client.”

Maythawee Sarathai

“Dedicated, good advice and high ownership.”

Kesara Summacarava

“Dedicated, high responsibility.”

Tanita Vattanodorn

“She always provided timely and detailed responses to us, which enabled us to meet the client's expectation.”

Silk Legal Founded in 2015, Bangkok-headquartered Silk Legal is a boutique law firm led by founding and managing partner Jason Corbett. 

Focusses / specialisms   

The firm is recognised for its work in the banking and finance and restructuring and insolvency areas and has a particular focus on fintech.

Key clients

Key clients include EQIBank, BlueZilla Venture Capital, Virtual Realms, Xpdite Ventures, One Thumb Mobile, Monaker, Thai Bauer, RCS Asia and BRP Bizzozero & Partners.

Research period review: 33^rd edition (2022/2023)   

During the research period, the firm was active in banking and finance, M&A and restructuring and insolvency mandates.

The banking team was active on financings work. It also advised on financial services regulatory matters.

In staffing changes, Nattapong Poonmaksatid was hired as head of legal and Don Chaiyos Sornumpol was hired as of counsel.

Deal highlights: 33^rd edition (2022/2023)   

Dao Guest House’s acquisition of a Thai hotel and restaurant.

Mia Kai Charter’s acquisition of a super-yacht.

Client feedback: 33^rd edition (2022/2023)   

Financial services regulatory

“Silk Legal team and in particular Jason Corbett are a pleasure to work with. Friendly and knowledgeable, they do not shy away from complex cases and look at all aspects of a problem from all angles to find the best solutions.”

“They are very responsive and seem to be always working. My mind is at ease when they are on the case. I can rely on them that things will get done on time and diligently.”

“The Silk Legal team show a commitment to understanding the technology underpinning deals involving clients; they are approachable and knowledgeable.”

 Jason Corbett

“Brilliant legal mind and very good knowledge of both insolvency and B&F. His experience with crypto is second to none.”

“Jason is friendly but professional. The professionalism, expertise and attention to detail that he demonstrates is truly impressive and a testament to his dedication and expertise in the field.”

Founded in 2019, Somboon Rittichai Panuwat Passawan (SRPP) is an independent law firm located in Bangkok.

Focusses / specialisms  

The firm is a consistent performer in banking and finance, corporate and M&A and project development. Sectors of activity include banking and financial services, real estate, energy, utilities, transport, media and hospitality.

Key clients  

Key clients include Citibank, DBS Bank, Mizuho Bank, Mercer Investment Solutions (Singapore), Bangkok Airways, Bio Green Energy Tech, Thai Institute of Directors Association and Norton Rose Fulbright Australia.

Research period review: 33rd edition (2022/2023)   

The banking team was active for a mix of lenders and borrowers on domestic and cross-border financing work.

In M&A, the firm was active in strategic deals on the buy and sell side. The deals were in the food and beverage, energy and retail sectors.

The project teams always acted for project developers in the investment management sector.

In staffing changes, partner Somboon Kitiyansub retired due to retirement age and the other partner Rittichai Ngodngam moved to Prowess Law.

Deal highlights: 33rd edition (2022/2023)   

Bangkok Bank’s facility agreement.

BPL’s sale of shares PAH.

Client feedback: 33rd edition (2022/2023)   

Capital markets

“Quick response.”

M&A

“Very dedicated, professional, responsive and able to provide high-quality drafting of agreements.”

Project development

“The SRPP team were very polite, responsible as promised and understood the client's needs.Easy to approach. They were able to give very good advice to clients in a clear and layman’s language and often provided extra-mile support. We are thankful to engage them.”

Vipavee Chaemchaeng

“Very quick response and keeps update on each party’s comments.”

Panuwat Chalongkuamdee

“Very smart, able to well understand the healthcare sector, and excellent care towards the customer.”

 Chositar Daecharux

“Professional, positive personality traits, dedicated and detailed oriented.”

Natira Siripun

“Good communication skill for verbal and written.”

Active since 2013, Bangkok-headquartered firm The Capital Law Office is known for its top-quality capital markets work and is also active in M&A.

Focusses / specialisms

The capital markets team has extensive experience acting for both issuers and underwriters and advises on an array of matters, including the issue of equity, equity-linked products, debt instruments and derivatives in domestic and international markets. Sectors of focus include energy, retail, real estate and logistics.

Key clients 

Key clients include Super Energy Corporation, Samart Aviation, D.T.C. Enterprise, Asia Medical and Agricultural Laboratory and Research Center and Aurora Design.

Research period review: 33rd edition (2022/2023) 

In the capital markets area the firm advised on debt and equity transactions. On the debt side it acted for issuers on bond issues. On the equity side it worked for issuers on IPOs.

In M&A, the firm was active on strategic deals on both buy and sell side. The deals were in different sectors such as technology and telecommunication.

The firm recruited Voraluck Worachuttharn from BTSG Group into their capital markets team while Karnpitcha Kongkiattiwong departed the firm and joined Bitkub Online.

Deal highlights: 33rd edition (2022/2023) 

Advanced Info Service’s acquisition of the entire issued shares in Triple T Broadband.

D.T.C. Enterprise’s SET IPO and the listing of its shares.

Samart Aviation’s SET IPO.

Super Energy Corporation’s unsecured bond issuance.

Client feedback: 33rd edition (2022/2023) 

Capital markets

“Have in-depth specific knowledge on the subject. Timely responses.”

Patraporn Milindasuta

“She is very knowledgeable in the subject. She provides practical advice to our needs.”

Founded in 2009, Weerawong, Chinnavat & Partners is one of the best-known names in the Thai legal market and is ranked at the top across all financial and corporate rankings.

Focusses / specialisms  

The firm provides top-quality advice in banking and finance, capital markets, M&A, project development and restructuring and insolvency. The firm takes on clients from a host of sectors, including banking and financial services, consumer products, industrials and manufacturing, technology and telecommunications, real estate, oil and gas, and energy.

Key clients 

Key clients include Sumitomo Mitsui Banking Corporation, United Overseas Bank (Singapore), Credit Suisse, aCommerce Group, Asset World, True Properties, Big C Retail Corporation and BAFS Clean Energy Corporation.

Research period review: 33rd edition (2022/2023) 

The banking team was active for a mix of lenders and borrowers on domestic and cross-border financing, project financing and lending work.

The capital markets team was particularly active on equity mandates. An eye-catching mandate saw the firm advising Meiji Yasuda Life Insurance Company, a substantial minority shareholder in Thai Life Insurance, in relation to Thai Life’s approximately $937 million IPO on the Stock Exchange of Thailand. The transaction marks one of southeast Asia’s largest IPOs in 2022.

In M&A, the firm was active on strategic deals on both the buy and sell side. The deals were in the technology and telecommunication, energy, retail, and manufacturing and industrial sectors.

The firm was also active in project development. The deals were in the transportation, infrastructure, aviation and energy sectors.

Deal highlights: 33rd edition (2022/2023) 

Bangkok Bank’s long-term project financing for M6 Motorway.

Big C Retail Corporation’s SET IPO.

Rabobank’s $350 million facility agreement.

Thai Life Insurance’s $937 million SET IPO.

Client feedback: 33rd edition (2022/2023) 

Banking

“WCP understand what we want. The timing was very tight, all day, all night WCP took steps quickly and met the timeline on our satisfied job.”

M&A

“Knowledge of industry, good commercial sense, client relationship.”

“Their advice was holistic and pragmatic. There was no language barrier, and it was easy to understand.”

“User-friendly and responsive.”

Private equity

“Very give prompt responses. They can analyse issues very practically and give clear and concise advice.”

Restructuring

“Flexible working hours, practical recommendation.”

Sunyaluck Chaikajornwat

“Meet tight timelines. Understand our business.”

Vipavee Kaosala

“Effectively bilingual – technically excellent.”

“Good legal and commercial knowledge. Good communications and client management.”

“She’s a very good lawyer, and her international experience is a boon for international clients. She is responsive and quick to understand the issues at hand. She provides holistic advice and goes beyond to ensure that client's risk is minimised.”

“Very knowledgeable and prompt in her responses.”

Mid-sized firm JTJB International Lawyers maintains an office in Bangkok and is recognised for its project development work. The firm recently expanded its legal network by entering into a strategic partnership with Chinese firm Tahota Law Firm.

The firm is active in sectors including energy, technology, and food and beverage.

Clients include Solarxell Corporation, Raimon Land Public Company, OBOOK, Green Energy Investment Holding.

An interesting recent deal saw the firm advising a renewable energy company on a rooftop solar project. The firm also took on regulatory compliance and market entry work.

Deal highlights

Green Resource THB340 million acquisition of a solar farm    

Established in 2015, Kudun & Partners has quickly risen in prominence in the financial and corporate space and is especially well known for its strong capital markets and restructuring and insolvency teams. The firm set up the first dedicated China business unit in an independent Thai firm. It is also notably Thailand’s exclusive member of the World Services Group.

Focusses / specialisms   

The banking team acts for domestic and foreign clients in their roles as lenders and borrowers.

The capital markets team has expertise in matters such as IPOs, derivatives, high yield debt, and secondary and follow-on offerings.

The M&A team caters to clients across the full spectrum of corporate and M&A mandates.

The projects team has the capability to advise on domestic mandates as well as across the region and has a particular focus on the renewables space.

On the restructuring front, the firm advises across a range of matters, including corporate restructuring, debt restructuring and the acquisition of distressed assets. 

Key clients  

Key clients include One Asset Management, NForce Secure, JKN Global Media, Thisshop, TRV Rubber Products, Prosper Engineering, Taokaenoi Food & Marketing, Yong Concrete and King Gen. 

Research period review: 33^rd edition (2022/2023)   

The banking team recently advised a mix of borrowers and lenders on several financing transactions, including project financing.

The capital markets team was busy advising issuers on an array of mandates, including IPOs and share offerings and secondary share offerings.

In corporate matters, the firm was active on private acquisitions, public acquisitions, asset acquisitions, joint ventures and divestments.

On the projects front, the firm was mostly active in energy projects. The firm was also active advising creditors on restructuring mandates.

During the review period, the corporate and M&A team welcomed partner and head of permits and licensing, Thanyaluck Thongrompo from PKF Tax and Consulting Services (Thailand).

 Deal highlights: 33^rd edition (2022/2023)   

Apollo Global Management’s 100% equity and debt investments.

Energy Absolute’s 100% investment in E Transport.

PTT Saving and Credit Cooperative’s restructuring.

Yong Concrete’s IPO.

Client feedback: 33^rd edition (2022/2023)   

Capital markets

“They work closely with our IT development team to catch up with the rapid changes of the SEC regulation toward the challenging time. I really appreciate KAP for the fast response and always preparing a constructive comment against the SEC opinion.”

Financial services regulatory

“Their experience and knowledge about the payment industry can be valuable in assisting our company.”

Investment funds

“Outstanding grasp and execution of English documentation to international standard.”

M&A

“Response relatively quick to any queries/advisory needed using available form of communications and provide sound legal advice on the legal issues with potential solutions.”

“They are familiar with the type of work. Responsive and quick turnaround.”

Project development

“They can specify clearly for definitions and conditions on IP issue.”

Restructuring

“Eagerness; olutions provider; ard-working.”

Peerasanti Somritutai

“Knowledgeable, esponsive and imely.”

Teerachai Boonyaratgalin

“He possesses a service-oriented mindset and is capable of providing introductory advice, with a good understanding of the client's needs.”

Koraphot Jirachocksubsin

“Koraphot is a rising star in the field of TMT and digital assets. He has extensive knowledge of the industry. He has no qualms about sharing his knowledge with other parties involved in the same transaction so that they can see the same picture as him and ultimately achieve the deal's goal. He is also attentive to his client's needs and initiates excellent practical solutions to move the transaction forward.” 

Chai Lertvittayachaikul

“Great communication and involvement. Skilled negotiator. Responsive turnaround.”

Songpol Pirunsarn

“Be calm and give good advice.”

Troy Schooneman

“Pleasant to work with, service0oriented and a team player.”

Yanin Sirilak

“Well-researched and in-depth advisory.”

Peerasanti Somritutai

“Ability to manage foreign institutional investors seamlessly.”

Kudun Sukhumananda

“Solutions-oriented and responsive.” 

Thitawan Thanasombatpaisarn

“Approachable, friendly and willing to help. Her knowledge of capital markets is outstanding. You can ask her any questions and she can answer immediately.”

“She is a good capital markets lawyer with excellent analytical and problem-solving skills. I require her to provide strategic advice to clients on a wide range of capital markets issues, such as securities offerings, regulatory compliance, disclosure requirements and corporate governance, which she does incredibly well.”

Thanyaluck Thongrompo

“Structured timeline is provided for any assignment, clear and concise documents required.”

Kom Vachiravarakarn

“Meets basic requirements in service provided, as expected.”

Kongkoch Yongsavasdikul

“Highly responsive and flexible. Good attitude and demeanour.”

With an office in Bangkok since 1991, Mayer Brown is best known for its strong restructuring and insolvency practice. The firm sits on the panels of several international financial institutions including Standard Chartered Bank, BNP Paribas, HSBC, China Development Bank and ANZ.

The firm represents all types of stakeholders across the full spectrum of restructuring and insolvency matters such as liquidations, bond restructurings, and multi-bank workouts.

Sectors of focus include construction and materials, mining and natural resources, industrials and manufacturing and banking and financial services.

The firm acts for big names such as Lone Star, Bain Capital, CIMB, and Standard Chartered.

During the research period, the firm was primarily active for financial institutions on several confidential mandates such as debt restructuring, rehabilitations, and acquisitions of loans.