Heart Of The Matter - A Podcast On Legal Developments From Around The World

When it comes to sustainability, Hong Kong is often seen as a laggard. But a growing number of local companies and organisations are now starting to embrace environmental, social and governance (ESG) principles. In this epsiode, Penelope Shen and Tze wei Ng of Stephenson Harwood in Hong Kong take a closer look at the ESG landscape in Hong Kong.

To find our more about Stephenson Harwood please visit https://www.esglegalhub.com/

About Our Guests

Penelope Shen

Penny is one of Hong Kong’s leading funds lawyers who counts among her clients the region’s top asset managers. She is consistently sought after for both direct expertise and keen market intelligence.

Tze-wei Ng

Tze-wei brings deep knowledge of charities and social innovation to her advice to philanthropic foundations and private clients. As part of the private wealth team she also has experience in trusts, wills, estate planning and administration. She is known for her understanding of the increased mixed use of non-profit and for-profit tools in creating impact, which allows her to provide tailored solutions to enable strategic philanthropy and social entrepreneurship.

The Philippines has one of the fastest-growing fintech sectors in the world. Fintech is driving rapid innovation and growth in the Philippines and has fueled the country's ambitions in creating a digital economy.

This podcast will explore the impact of fintech on the Philippine economy, highlighting the benefits it has brought to consumers and businesses alike. It will also discuss some of the challenges facing fintech in the Philippines, and consider how these might be overcome in order to ensure continued growth and innovation in this important sector.

About our guests

John Paul V. De Leon

John Paul V. De Leon is a partner of SyCip Salazar Hernandez & Gatmaitan (SyCipLaw). Mr. de Leon is a member of the firm’s Special Projects and Banking, Finance and Securities departments. He has a wide-ranging M&A and investments practice but specializes in real estate development and land, retail (including online retail), and media. 

In the banking and finance sector, Mr. de Leon regularly advises banks and financial institutions in connection with cross-border foreign currency loans, bonds and debt securities transactions. Mr. De Leon advised foreign investors in their acquisition of a significant stake in a Philippine rural bank. He was also part of the team that handled the sale of 100% of the equity in a Philippine commercial bank.

Mr. de Leon is also one of the firm’s lawyers in the forefront of its fintech practice. He has been part of M&A teams that have handled key transactions in this area including the investment of a significant PRC-based online/IT entity into the fintech companies of one of the Philippines’ major telecommunications companies.  He regularly advises companies engaged in money remittance, payment services, and e-money issuances, on various issues including Central Bank regulation, credit information and AMLA laws.  He and the firm’s fintech group also advise on blockchain technology-related services and cryptocurrency.

Mr. de Leon is a “Next Generation Partner” for Real Estate and Construction in Legal 500’s 2021 and 2022 rankings. 

Link to corporate profile: https://syciplaw.com/lawyers/partners/JPVDeLeon

Rose Marie M. King-Dominguez

Rose Marie is a partner of SyCip Salazar Hernandez & Gatmaitan (SyCipLaw). She is a TMT specialist and helps lead the firm’s TMT group. She handles M&A, investments and regulatory work.

She acted for Comcast in its recent acquisition of Masergy, as well as for NomuPay in the purchase of Wirecard’s Philippine entity. In the 2022 auction of tower assets by the Philippines’ leading telecommunications operator, she was part of a team advising one of the bidders. She also acted for an international e-commerce and service group in an acquisition project targeting a leading provider of telemedicine. In last year’s offer by Globe Telecoms of an interest in its data center business, she assisted one of the bidders conducting due diligence and structuring review that required consultations with the telecoms regulator. She also assisted a data analytics and AI company in an acquisition of a Singapore-based e-commerce distribution business with a local presence. In 2020, she acted for a US-based private investment firm in its investment in a manufacturer of products for the electronic industry, with a branch in the Philippines. 

Her M&A experience covers a range of industries from fintech (e.g., the investment by Ant Financial in Globe Telecom’s fintech business [GCash] and the investment by KKR and Tencent in PLDT/Smart’s fintech enterprise [Paymaya] to tobacco [JTI’s acquisition of Mighty] to healthcare [GIC’s investment in the Metro Pacific hospital group] including telehealth and pharma, to cement [structuring work for Lafarge Holcim]).

She advises some of the most prominent global entities in technology and media on various matters, including market entry and regulatory matters, and has helped some of them establish a local presence. Among these clients are a US technology conglomerate that operates a number of popular platforms, another US technology company that focuses on, among others, search engine technology and cloud solutions, an international e-commerce company well known for its retail platform, and a US multinational mass media and entertainment conglomerate.  

She is one of the principal data privacy experts of the firm and is a regular speaker and contributor on the topics of data privacy and cybersecurity (e.g., see article contributed to Data Protection Leader on “The challenges under the new data privacy regime”). She and her team run compliance seminars and training for data privacy for clients. 

Some of Ms. King-Dominguez’ most recent awards and citations include:

Band 2 in Corporate/M&A, Chambers Global 2022
Band 2 in Corporate/M&A, Chambers Asia Pacific 2022
Spotlight ranking, TMT, Chambers Asia Pacific 2022
Cited as one of the Leading Lawyers in the Philippines, Chambers Asia Pacific Leading Lawyers and Law Firms 2022
Leading Individual in TMT, The Legal 500 Asia Pacific (2013 to 2022)
Recommended Lawyer in Corporate and M&A, and TMT, The Legal 500 Asia Pacific 2021-2022
Highly-regarded Lawyer, IFLR1000 (2015 to 2021)
Distinguished Practitioner in Technology and Telecommunications, asialaw Profiles 2021-2023
One of the Top 100 Lawyers in the Philippines, Asia Business Law Journal 2021-2022
Global Leader, Recommended Lawyer in Fintech, Who’s Who Legal 2021-2022
National Leader, Recommended Lawyer in Data, Southeast Asia, Who’s Who Legal 2021-2022

Link to corporate profile: https://syciplaw.com/lawyers/partners/RMMKingDominguez

Cryptocurrency is becoming more prevalent around the world. While this asset is still in its infancy, there are a number of countries that have already begun to implement regulations surrounding it. The Philippines is one such country, with a number of new rules and regulations for cryptocurrency exchanges. This podcast will explore the new regulations and how they may affect the cryptocurrency industry in the Philippines.

Our Guests

John Paul V. De Leon

John Paul V. De Leon is a partner of SyCip Salazar Hernandez & Gatmaitan (SyCipLaw). Mr. de Leon is a member of the firm’s Special Projects and Banking, Finance and Securities departments. He has a wide-ranging M&A and investments practice but specializes in real estate development and land, retail (including online retail), and media. 

In the banking and finance sector, Mr. de Leon regularly advises banks and financial institutions in connection with cross-border foreign currency loans, bonds and debt securities transactions. Mr. De Leon advised foreign investors in their acquisition of a significant stake in a Philippine rural bank. He was also part of the team that handled the sale of 100% of the equity in a Philippine commercial bank.

Mr. de Leon is also one of the firm’s lawyers in the forefront of its fintech practice. He has been part of M&A teams that have handled key transactions in this area including the investment of a significant PRC-based online/IT entity into the fintech companies of one of the Philippines’ major telecommunications companies.  He regularly advises companies engaged in money remittance, payment services, and e-money issuances, on various issues including Central Bank regulation, credit information and AMLA laws.  He and the firm’s fintech group also advise on blockchain technology-related services and cryptocurrency.

Mr. de Leon is a “Next Generation Partner” for Real Estate and Construction in Legal 500’s 2021 and 2022 rankings. 

Link to corporate profile: https://syciplaw.com/lawyers/partners/JPVDeLeon

Rose Marie M. King-Dominguez

Rose Marie is a partner of SyCip Salazar Hernandez & Gatmaitan (SyCipLaw). She is a TMT specialist and helps lead the firm’s TMT group. She handles M&A, investments and regulatory work.

She acted for Comcast in its recent acquisition of Masergy, as well as for NomuPay in the purchase of Wirecard’s Philippine entity. In the 2022 auction of tower assets by the Philippines’ leading telecommunications operator, she was part of a team advising one of the bidders. She also acted for an international e-commerce and service group in an acquisition project targeting a leading provider of telemedicine. In last year’s offer by Globe Telecoms of an interest in its data center business, she assisted one of the bidders conducting due diligence and structuring review that required consultations with the telecoms regulator. She also assisted a data analytics and AI company in an acquisition of a Singapore-based e-commerce distribution business with a local presence. In 2020, she acted for a US-based private investment firm in its investment in a manufacturer of products for the electronic industry, with a branch in the Philippines. 

Her M&A experience covers a range of industries from fintech (e.g., the investment by Ant Financial in Globe Telecom’s fintech business [GCash] and the investment by KKR and Tencent in PLDT/Smart’s fintech enterprise [Paymaya] to tobacco [JTI’s acquisition of Mighty] to healthcare [GIC’s investment in the Metro Pacific hospital group] including telehealth and pharma, to cement [structuring work for Lafarge Holcim]).

She advises some of the most prominent global entities in technology and media on various matters, including market entry and regulatory matters, and has helped some of them establish a local presence. Among these clients are a US technology conglomerate that operates a number of popular platforms, another US technology company that focuses on, among others, search engine technology and cloud solutions, an international e-commerce company well known for its retail platform, and a US multinational mass media and entertainment conglomerate.  

She is one of the principal data privacy experts of the firm and is a regular speaker and contributor on the topics of data privacy and cybersecurity (e.g., see article contributed to Data Protection Leader on “The challenges under the new data privacy regime”). She and her team run compliance seminars and training for data privacy for clients. 

Some of Ms. King-Dominguez’ most recent awards and citations include:

Band 2 in Corporate/M&A, Chambers Global 2022
Band 2 in Corporate/M&A, Chambers Asia Pacific 2022
Spotlight ranking, TMT, Chambers Asia Pacific 2022
Cited as one of the Leading Lawyers in the Philippines, Chambers Asia Pacific Leading Lawyers and Law Firms 2022
Leading Individual in TMT, The Legal 500 Asia Pacific (2013 to 2022)
Recommended Lawyer in Corporate and M&A, and TMT, The Legal 500 Asia Pacific 2021-2022
Highly-regarded Lawyer, IFLR1000 (2015 to 2021)
Distinguished Practitioner in Technology and Telecommunications, asialaw Profiles 2021-2023
One of the Top 100 Lawyers in the Philippines, Asia Business Law Journal 2021-2022
Global Leader, Recommended Lawyer in Fintech, Who’s Who Legal 2021-2022
National Leader, Recommended Lawyer in Data, Southeast Asia, Who’s Who Legal 2021-2022

Link to corporate profile: https://syciplaw.com/lawyers/partners/RMMKingDominguez

Singapore offers foreign investors competitive access to the Asian market due to its favorable taxation policies and strategic location within Southeast Asia. Several free trade agreements with neighboring Asian nations are available to Singaporean businesses, in addition to over 80 double taxation avoidance agreements.

Besides being a stable political and economic hub, Singapore is also an important financial center in ASEAN. International business and trade standards are mirrored by Singapore, such as those offered by the World Trade Organization and the Organization for Economic Cooperation and Development.

Although COVID-19-related risks continue to affect Singapore, it has emerged resilient as a direct gateway to the global market. The manufacturing and wholesale trade sectors are still strong, while the information and communications and finance industries are also healthy, driven by the increasing demand for digital solutions and payment processing services.

Business opportunities, government incentives, and trade relations benefits make Singapore an excellent choice for companies looking to establish a holding company, branch office, or regional headquarters.

We spoke with Eugene Lim, Co-Founder, Principal of WTS Taxise, and took a deeper look at the advantages and challenges of doing business in Singapore.

To find out more about WTS Taxise, please visit https://taxiseasia.com/

Many people think that when two or more people start a business together, they will automatically get along and have a perfect working relationship. Unfortunately, this is not always the case. Co-founder conflicts can arise for a number of reasons, and if they are not managed correctly, can lead to the downfall of the company.

In this episode, I am joined by Jerome McDonagh and Eddy Lee of MDD to discuss how to prevent co-founder conflicts, and how to manage them if they do occur.

For more information about MDD, please visit www.mdd.com

Start-ups and tech companies are often lauded for their innovation, but this can make them difficult to value. Traditional valuation methods are based on financial metrics such as earnings and revenue, but these may not be relevant for early-stage businesses. Instead, investors must focus on other indicators such as the team's experience, the market opportunity, and the strength of the product. By taking a closer look at these factors, it is possible to get a more accurate picture of a start-up's potential.

I am joined by Jerome McDonagh and Eddy Lee of MDD to take a look at the challenges of valuing startups and tech companies.

For more information about MDD, please visit www.mdd.com

Ben Cooper joins us in this Q2 review show of the Hong Kong legal market.

For more information about the Hong Kong legal market, please visit https://ashford-benjamin.com/

There's been a lot of discussion lately about the role of legal ops within companies. Some people argue that legal ops should be an extension of the legal team, while others maintain that it should be independent. So which is the right approach?

To help unpack this, we spoke with Nicolas Leroux, founder and managing partner of Kalexius, and Eric O'Donnell, head of legal operations at Total Energies.

Nicolas Leroux is the Founder and Managing Director of Kalexius. He leads operations across all practice areas and is responsible for strategic orientations and business development. Prior to founding Kalexius in 2011, Nicolas was in private practice, working on public international law and arbitration.

Nicolas is a member of the Geneva and Paris bars and holds a PhD in international law from Université Panthéon Assas Paris II

Eric O’Donnell qualified as a solicitor in Ireland in 1995 and began his in-house career soon afterwards in France with Eurosport, a pan-European sports broadcaster. There, he was responsible for operational aspects of the business and was involved in the launch of several language versions and the first “window” in the UK. In 2001, Eric changed sectors and moved to Chanel, the luxury company and in 2003 started in the Refining & Marketing branch of Total (now TotalEnergies). Over the next 10 years, Eric worked on several landmark files including the Black Empowerment project for Total South Africa, development projects in Africa (Kenya, Uganda, Egypt & Ghana), Asia (Pakistan), and Europe (UK), and a refining joint venture with Saudi Aramco in Jubail, Saudi Arabia. In 2013 Eric took up the position of Head of Legal Marketing & Services for Asia-Pacific and the Middle East, covering the legal management of over 50 affiliates as well as development projects. He has been Head of Legal Operations for TotalEnergies since August 2018, where he has led a team that has implemented an ambitious innovation roadmap for TotalEnergies, including several digital projects.

As the concept of outsourcing has expanded beyond its restrictive definition, legal outsourcing is changing the legal industry. Although outsourcing isn't new to business, it's relatively new to the legal industry.

To help unpack this, we spoke with Nicolas Leroux, founder and managing partner of Kalexius, and Eric O'Donnell, head of legal operations at Total Energies.

Nicolas Leroux is the Founder and Managing Director of Kalexius. He leads operations across all practice areas and is responsible for strategic orientations and business development. Prior to founding Kalexius in 2011, Nicolas was in private practice, working on public international law and arbitration.

Nicolas is a member of the Geneva and Paris bars and holds a PhD in international law from Université Panthéon Assas Paris II

Eric O’Donnell qualified as a solicitor in Ireland in 1995 and began his in-house career soon afterwards in France with Eurosport, a pan-European sports broadcaster. There, he was responsible for operational aspects of the business and was involved in the launch of several language versions and the first “window” in the UK. In 2001, Eric changed sectors and moved to Chanel, the luxury company and in 2003 started in the Refining & Marketing branch of Total (now TotalEnergies). Over the next 10 years, Eric worked on several landmark files including the Black Empowerment project for Total South Africa, development projects in Africa (Kenya, Uganda, Egypt & Ghana), Asia (Pakistan), and Europe (UK), and a refining joint venture with Saudi Aramco in Jubail, Saudi Arabia. In 2013 Eric took up the position of Head of Legal Marketing & Services for Asia-Pacific and the Middle East, covering the legal management of over 50 affiliates as well as development projects. He has been Head of Legal Operations for TotalEnergies since August 2018, where he has led a team that has implemented an ambitious innovation roadmap for TotalEnergies, including several digital projects.

While Legal Operations is not a new concept, it is gaining popularity as General Counsel look for ways to create efficiencies within their legal departments.

In-house legal teams rely on Legal Operations functions for strategic planning, people management, operational efficiency, technology investments, and project management.

As a result, more and more companies are hiring Legal Operations professionals. Formerly regarded as a technology-driven, project-based role, the role has evolved into a fully-fledged one that encompasses many aspects.

To find out more about legal operations as a career path, we spoke with Nicolas Leroux, founder and managing partner of Kalexius, and Eric O'Donnell, head of legal operations at Total Energies.

Nicolas Leroux is the Founder and Managing Director of Kalexius. He leads operations across all practice areas and is responsible for strategic orientations and business development. Prior to founding Kalexius in 2011, Nicolas was in private practice, working on public international law and arbitration.

Nicolas is a member of the Geneva and Paris bars and holds a PhD in international law from Université Panthéon Assas Paris II

Eric O’Donnell qualified as a solicitor in Ireland in 1995 and began his in-house career soon afterwards in France with Eurosport, a pan-European sports broadcaster. There, he was responsible for operational aspects of the business and was involved in the launch of several language versions and the first “window” in the UK. In 2001, Eric changed sectors and moved to Chanel, the luxury company and in 2003 started in the Refining & Marketing branch of Total (now TotalEnergies). Over the next 10 years, Eric worked on several landmark files including the Black Empowerment project for Total South Africa, development projects in Africa (Kenya, Uganda, Egypt & Ghana), Asia (Pakistan), and Europe (UK), and a refining joint venture with Saudi Aramco in Jubail, Saudi Arabia. In 2013 Eric took up the position of Head of Legal Marketing & Services for Asia-Pacific and the Middle East, covering the legal management of over 50 affiliates as well as development projects. He has been Head of Legal Operations for TotalEnergies since August 2018, where he has led a team that has implemented an ambitious innovation roadmap for TotalEnergies, including several digital projects.