Law Ministry defers decision on renewal of licences for four foreign law firms

Singapore

THE Law Ministry will defer to 2020 a decision on whether to renew the licences issued to the second batch of qualifying foreign law practice (QFLP) firms.

The five-year licences issued to the four firms in 2013 were up for possible renewal as they were due to expire next year, but the report cards of these firms showed that they fell short of their initial commitments made in 2012.

The four QFLPs were affected by the Asian economies' weaker-than-expected growth, drop in commodity prices and decrease in mergers and ac…