Facing increasing competition from foreign law firms, more local law firms this year have begun frontloading annual bonuses into larger monthly salaries to sweeten pay packages - a trend that's likely to continue through next year.
WongPartnership, which has offices in Shanghai, Qatar and Abu Dhabi, is opening its Beijing office by early next year to handle foreign investment deals in China as well as to capture the 'outbound ambitions' of state-owned enterprises.
'There are state-owned enterprises investing in Singapore, for instance in SPC and Tuas,' said Rachel Eng, managing partner of WongPartnership.
Meanwhile, with the US and Europe still struggling to recover, companies searching for growth will focus on the Asia-Pacific and an upward trend is expected in mergers and acquisitions activities in the region, said Lucien Wong, managing partner of Allen & Gledhill LLP.
Assoc. Prof. Simon Tay, Chairman, Singapore Institute of International Affairs is serving as a Senior Consultant in WongPartnership.
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