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> Selvam and Partners Opens Office in Yangon to Expand Operations in Myanmar

YANGON, MYANMAR, September 10, 2013—Selvam & Partners is pleased to announce that it has launched in Yangon, Myanmar. The firm will serve domestic and international clients on investment and business matters, including all aspects of tax, licensing, regulatory, market entry, reporting requirements and U.S. Foreign Corrupt Practices Act and UK Bribery Act issues.

Krishna Ramachandra, managing director of Selvam LLC in Singapore, will serve as the managing partner of Selvam & Partners. He will be joined by Benjamin Kheng, an associate director of Selvam LLC in Singapore.

“Our launch in Yangon, the country’s commercial center, is driven primarily by client interest, which has intensified significantly in recent years, as well as by the country’s projected long-term economic outlook,” Ramachandra said. “In addition, our team has built a strong relationship with Myanmar and its government, as a result of working closely with the Attorney General’s Office for many years. This is a natural next step for us. We intend to build a strong local contingent of experienced attorneys and consultants, supported by the infrastructure of an international law firm, to make our clients’ Myanmar plans a reality.”

Ramachandra focuses his practice on mergers and acquisitions, capital markets, investments funds/private equity and Islamic finance law. He has many years of experience in advising issuers, funds, investment banks, listed and private companies and high net worth individuals in Asia, Europe and the U.S. on a wide range of equity and debt securities issuances, compliance and regulatory matters. His extensive experience in mergers, acquisitions and take-overs, private equity participation and exit strategies has led to his being regularly cited by various publications as a leading lawyer.

Ramachandra is regarded as one of the most highly recommended lawyers in the practice areas of Capital Markets and Corporate Finance by Asialaw Leading Lawyers. Chambers Asia Pacific and the Asia Pacific Legal 500 regularly refer to his creative yet practical and client-focused approach and the IFLR1000 recognises him as an expert in the area of Islamic Finance in Singapore.

Kheng practices in the area of corporate law. He has experience advising on all aspects of corporate transactions and deal-making in Singapore and across the Asia Pacific region.

A resource-rich country strategically located on the Bay of Bengal and nestled between India and China, the Republic of the Union of Myanmar, also known as Burma, historically served as a major Southeast Asia trading center. The country has received intense attention from the international business community since the 2010 election of the country’s first quasi-civilian government. In less than three years, President U Thein Sein’s government has initiated a series of sweeping political and economic reforms leading to a substantial opening of the long-isolated country. These changes include new anti-corruption laws, exchange rate reforms, and modifications to the tax system, as well as relaxed import restrictions and the abolition of export taxes.

In addition, in November 2012, President Thein Sein signed a new Foreign Investment Law, allowing overseas firms to fully own ventures, offering tax breaks and defining longer-than-typical land lease periods. The Myanmar government has also enacted better protections for basic human and democratic rights, and reduced restrictions on freedom of the press, association, and civil society. The country is preparing to chair the Association of Southeast Asian Nations (ASEAN) in 2014.

As a result of the reforms, Myanmar’s economy grew approximately 6.5 percent in fiscal year 2012/13, and growth is expected to accelerate, according to an International Monetary Fund survey. For multinational companies in the energy, mining, telecommunications, and consumer products industries, Myanmar represents a virtually untapped market of more than 55 million people. While its economy is heavily agriculture-based, it also has thriving extractive and raw materials industries, particularly natural gas, timber, jade and minerals. The country boasts the world’s 10th largest natural gas reserves and significant deposits of metal ores, as well as precious and semiprecious stones.

Foreign investment has increased significantly in recent years. In the first quarter of 2013, Myanmar received a total of US$810 million in foreign investment from 11 countries. Such investment is expected to steadily increase.

About Selvam & Partners

The practitioners of Selvam & Partners have established a respected and well-regarded practice in Myanmar, experienced with working with government and business leaders in Yangon and throughout the nation. Selvam & Partners, through its extensive international network, has access to lawyers worldwide, with offices around the globe and can guide multinational corporations and others on investment and business processes in Myanmar, including all aspects of tax, regulatory, reporting requirements and U.S. FCPA and UK Bribery Act issues.

Their work for the Attorney General’s Office in transactional and dispute resolution matters over the past decade has resulted in being a recent Recipient of Distinguished Service to Myanmar by the Attorney General of the Union.

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