Singapore is on a steady path of economic recovery. According to International Monetary Fund (IMF) reports, following a slowdown in 2023, the city-state’s growth is projected to recover gradually to 2.1 percent in 2024. After hitting 6.1 percent in 2022, inflation has steadily declined to 2.7 percent in April 2024. Resilience is visible in the business realm.
According to the Singapore country head of Bank of America, Singapore has emerged as ‘the center of gravity’ for M&A activities in Southeast Asia. It is reported that the value of deals involving companies based in Singapore marks a 102 percent jump in 2024 compared to the second quarter of 2023. On the other hand, approximately 19,000 patents were published in Singapore in 2023, of which around 4300 patents were granted. All these markers point to the flaring competition in Singapore’s business realm, leading to unique growth strategies, compliance challenges, patent disputes, and the need for intact due diligence. It’s no wonder that businesses in the country rely on law firms with highly experienced attorneys, such as Forte Law LLC.
Jean Foo with Sir Richard Branson on his private island (Necker Island, BVI)
Oliver Wendell Holmes, Jr., the former Associate Justice of the Supreme Court of the United States, once said, “The life of the law has not been logic; it has been experience.” Forte Law’s success exemplifies these words. The Singapore-based boutique law firm is home to a highly cohesive team of lawyers hailing from leading local & international law firms, banks and the public sector, with years of experience and diverse backgrounds complementing the expertise.
Forte Law specializes in commercial disputes, criminal defense, funds, mergers & acquisitions, corporate restructuring, private & public corporate advisory, compliance, employment, immigration, digital and data protection, family & construction.
“We have had the privilege of working with renowned clientele on complex matters across a spectrum of industries and practice areas, and I believe our track record as a firm has shown that we can punch above our weight, asserts Jean Foo, Managing Director, Forte Law LLC, who leads the firm from the helm alongside Charmaine Neo (Director), Celine Liow (Associate Director) and Denzel Chua (Associate Director).
While Jean is a corporate finance lawyer with expertise in capital market advisory, mergers and acquisitions and funds (including Variable Capital Companies), her team includes Charmaine, who brings in expertise in employment disputes, cross-border corporate investigations (including anti-bribery and fraud), and regulatory compliance, Celine, a commercial litigation specialist with expertise in construction and general disputes, and Denzel, a corporate and commercial lawyer with expertise in private wealth management (including Single Family Offices) and general corporate advisory matters.
The Meticulous Approach
The superwoman-trio together with newly added intellect, Denzel, are well known for their meticulous approach and being clinical with their execution strategies. “Commercial disputes most commonly arise when there are differing views and expectations between contracting parties on their rights and obligations under an agreement. To aid our clients in resolving these disputes, we always try to assess the relevant issues from both a subjective and objective standpoint and then break down these assessments into proposed options or solutions that might offer both our clients and all other disputing parties an amicable way forward,” says Jean.
For instance, Forte Law recently represented a company engaged in a corporate restructuring project that contained multiple simultaneous transactions, including the exit of and onboarding of various shareholders, as well as the renegotiation of the rights and obligations between all of the company’s stakeholders. The biggest challenge the law firm faced involved dealing with the competing interests of multiple parties, all of which had the capacity to cause significant delays or even kill the restructuring.
But with a meticulous approach, the Forte Law team ultimately managed to successfully negotiate a restructuring solution that all the company’s stakeholders could agree to. “I believe that we were able to do so because we took the time to consider each stakeholder’s goals and views towards the restructuring, which allowed us to propose middle-ground solutions that everyone could agree with,” adjoins Jean.
Forte’s Forte
Word spreads fast in the corporate world. Forte Law’s approach has brought the company a significant number of mergers and acquisitions (M&A) deals. Needless to say, timing is a critical factor in M&A. The process is often complex and lengthy, involving various stages such as strategic planning, due diligence, negotiations, regulatory approvals, and post-transaction integration. Mismanaging or not apportioning enough time for a transaction to take its course can lead to unfavorable consequences, such as missed opportunities, increased post-transaction risks, or even failed deals. To mitigate these risks, Forte Law always starts the project by developing a clear timeline with specific milestones and deadlines for each stage of the process. It also provides regular progress monitoring to ensure that their deal(s) stay on track.
Furthermore, flexibility is another crucial element in the M&A process. Due to the complex, unpredictable, and fast-paced nature of these transactions, principals should maintain a flexible and open-minded approach whenever possible, whether in transaction structures or negotiation strategies. Adaptability enables the adjustment of strategies in response to new information or changing circumstances. Furthermore, Forte Law always has contingency plans in place, which help mitigate risks associated with unforeseen developments and ensure the acquisition stays on track despite unexpected challenges.
Forte Law’s team with American investor Jim Rogers (Forte’s Anniversary celebration, Fullerton Hotel, Singapore)
Above all, due diligence is the cornerstone of any successful merger or acquisition. This process involves a thorough investigation into the target company’s financial health, legal status, operational capabilities, and cultural compatibility. “Inadequate due diligence can lead to significant risks, such as overvaluation, hidden legal liabilities, or difficulties in post-merger integration,” explains Jean. To mitigate these risks, Forte Law strongly encourages its clients to conduct comprehensive due diligence, engage experts in finance, law, and operations to uncover any potential issues. By thoroughly understanding the target company through diligent investigation, principals can avoid unpleasant surprises and are provided with adequate legal protections in its transactional documents, in turn increasing the likelihood of achieving the strategic benefits of the acquisition.
Letting Clients Focus on their Core Process
With technology enabling rapid changes in the way companies can do business, cross-border compliance issues are becoming more prevalent. The law partner has the responsibility to ensure that they allow their clients to focus on their business process without any stress about the compliance requirements. Forte Law does this perfectly. The firm taps on its close ties with established practitioners and law firms from across multiple jurisdictions to provide its clients with seamless and cost-effective solutions. “One recent cross-border transaction we worked on involved inward investment from the US into a Singapore entity. We worked closely with the client’s US and Taiwanese counsels around the clock to navigate applicable compliance regulations for three jurisdictions and successfully concluded the deal” adds Jean.
Into the Bright Future
As Singapore’s economy continues to show resilience, it’s a sure bet that the demand for both in-house legal teams as well as outsourced legal services will continue to remain robust. However, this demand will likely be uneven across industries as countries, governments and companies grapple with disruptive threats and opportunities such as climate change and rapid technological advancements in generative artificial intelligence. In recent years, Forte Law has witnessed an uptick in clients from emerging fields seeking to establish themselves in and leverage Singapore’s business-friendly ecosystem, and the firm is expecting this trend to continue.
“Good work breeds more work. We rely on word of mouth to grow our business. As cross-border transactions grow, we evolve according to market conditions, with a more diversified client portfolio from different industries and geographies. The practice of law is our Forte. We will continue to focus on excellence—to serve our clients with high-quality legal work at affordable pricing. We seek to attract and retain top legal talent passionate about law practice while keeping abreast with legal updates,” Jean concludes.
Jean Foo, Managing Director, Forte Law
Jean brings in a broad range of legal expertise, alongside her experience of working in a big four Singapore firm, where she was actively involved in the initial public offering (IPO) of real estate investment trusts (REITs) and business trusts which involved multiple acquisitions, as well as secondary offerings on the mainboard of Singapore Exchange Securities Trading Limited (SGX). Jean was also previously in a dynamic capital markets team in a Wall Street Law firm for a couple of years before she set up Forte Law LLC and Fortecorp Services Pte. Ltd, which assists with the incorporation of companies in Singapore.
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