“Singapore is increasingly emerging as the first stop for many Chinese companies entering Southeast Asia” to pursue M&A activity, says Ivy Liu, recently appointed as senior foreign counsel and head of the China desk at Indonesia’s GHP Law Firm.
She attributed this trend to Singapore’s rule of law, tax and financial systems, and long-term political and economic stability. Many Chinese investors also use the Lion City as a springboard for expansion into other Southeast Asian jurisdictions.
“In my observation, many Chinese enterprises are adopting a ‘Singapore +1’ model: they establish a regional headquarters or investment platform in Singapore, and from there expand into other Southeast Asian markets,” Liu told Asia Business Law Journal.
Indonesia has been one of the standout destinations for Chinese M&A activity in recent years, with Liu noting that multiple industries in the jurisdiction have been particularly active.
“From Singapore, Chinese capital is often deployed further into Indonesia, Vietnam and Thailand. Among these, Indonesia has shown particularly strong momentum in the past two or three years,” she said.
“Its large domestic market, resource base and young, tech-receptive population continue to attract Chinese interest, especially in consumer-facing businesses, fintech, e-commerce and logistics, manufacturing, and increasingly energy-transition and EV-related supply chains.”
Liu is encouraged by the level of activity and, in her role as head of the China desk, she aims to “better support Chinese clients navigating investment opportunities across Southeast Asia”.
Prior to joining GHP Law Firm, Liu headed the China desk at DFDL and later served as a partner at Watson Farley & Williams and Fangda Partners.
