HAN Kun Law Offices, a top Chinese law firm, is weighing expansion in Singapore to find new deals and support its existing clients' growth in the region, according to people familiar with the matter.
The firm is looking for at least 4,300 square feet of grade-A office space in Singapore's financial district, the people said, requesting not to be named because the matter is private.
Han Kun's roster of clients includes food delivery giant Meituan, electric vehicle maker Nio and Tencent Music Entertainment Group.
Specialising in financial and business deals, the firm is the latest among a raft of high-profile funds and businesses planning to allocate resources to the city-state as a regulatory crackdown in China prompts more capital to flow into South-east Asia. Companies are also attracted by the country's low taxes, relative safety and growing venture and startup scene.
Han Kun plans to have less than 10 staff in Singapore though it could expand further based on demand, one of the people added. The company has yet to pick a final destination for its office, the people said. Plans to expand into Singapore are preliminary, Han Kun said in an emailed statement.
The firm has more than 700 people working across offices including Beijing, Shanghai, Shenzhen and Hong Kong, according to its website. The company specialises in cross-border transactions, private equity and venture capital, mergers and acquisitions and fundraising in capital markets.
Singapore has seen an influx of new companies and wealth. Billionaire Li Ka-shing's Horizons Ventures said that it was opening an office to find new deals in May.
Ray Dalio's family office is also recruiting investment professionals in the country as it seeks to build out operations in Asia.
The total value of all assets under management based in the country reached S$4.7 trillion by the end of 2020. BLOOMBERG