asialaw Analysis

General business law
A&L Law Office

A&L Law Office is a full-service corporate law firm. The firm is active in banking and finance and corporate and M&A matterswith a diverse client base of individual and corporate, domestic and foreign investors, as well as many institutions across various sectors. Sambo Ly is the main contact. 

Work highlights 

Advised a Hong Kong lender on the financing of a real estate development project. 

Advised a Thai bank on the financing of the development of a solar project in Cambodiain regards to relevant Cambodian law matters, due diligence and legal opinion of project documents. 

BNG Legal

BNG Legal is one of the leading regional law firms in Cambodia with strong practices in corporate and M&A and project development. The firm boasts an extensive international client base ranging from the US to Europe and Asia. 

Work highlights 

Conducted due diligence for a Chinese state-owned company and advised the client on a coal-fired power plant project in Oddor Meanchey. 

Conducted a preliminary high-level due diligence on a Cambodian company to convert into a micro-finance institution. 

Bun & Associates

Bun & Associates is one of the preeminent domestic law firms and is recognised for its multidisciplinary practice. As the largest full-service law firm in Cambodia, Bun & Associates is highly capable of handling time-sensitive and complex cases. The firm is best known for its cross-sector related activities. Key contacts include Youdy Bun, Antoine Fontaine, Sophealeak Ing and Sovath Phin.  

Work highlights 

Advised Cleantech Solar on the proposed financing structure, finance documents, and security for the transaction from Cambodian law perspective.  

Assisted RMA Group in issuing the very first guaranteed bond IPO in Cambodia. 


With the opening of its Phnom Penh office in 1995, DFDL is one of the oldest foreign legal and tax advisory firms in Cambodia. It provides a full range of legal, tax and advisory services to local and foreign investors operating in Cambodia. The firm is active in banking and finance, capital markets and corporate and M&A work, and it continues to have a strong presence in the Cambodian market. Key contacts include Guillaume Massin, Seka Hep, Clint O’Connell and Chris Robinson.  


Work highlights 

Assisted Credit Suisse, Morgan Stanley, and UBS in relation to a $350 million bond issuance by NagaCorp. 

Advised a group of lenders led by the Singapore branches of international banks Mizuho Bank and ING Bank, on $55 million loan facility for the purpose of refinancing a power transmission project in Cambodia operated by Cambodia Transmission. 

Key clients 

Asian Infrastructure Investment BankBank of China, Credit Bureau Asia, UBS 

R&T Sok & Heng

Bolstered by the Rajah & Tann Asia network, the R&T Sok & Heng team has in-depth knowledge and experience in Cambodian law and practice. The firm is best known for its involvement in complex cross-border transactions, as well as deep expertise in banking and finance and corporate and M&A. Chhay Heng and Sophonnora Tiv are among the main figures. 

Work highlights 

Assisted Tik Tok on data privacy, e-commerce related registration, and business operations under Cambodian law. 

Acted for Oxley Gem in relation to construction disputes with the main contractor pertaining to the Peak Project. 

Advised Soma Group in a joint venture for a major agricultural project in Cambodia. 

Key clients 

BSE Accounting, Facebook, ICBC, Mega International Commercial Bank 


Part of the ZICO Law network, SokSiphana&associates is a household name in Cambodia’s legal market. In addition to its core practice, the firm also expands its Chinese and French practice to better serve the legal needs of Chinese and French expatriatesSiphana Sok, Matthew Rendall and Mealy Khieu are key figures.  

Client feedback 

Updates and guides us on recent government laws and demands, and provides clear consultation and guidance. – Tax 

Matthew Rendall  

Provides immediate response to our request for assistance, and follows up on the development of our request.” 

Work highlights 

Acted as the lead Cambodian counsel in the acquisition of Ly Hour Microfinance by SBI Holdings. 

Represented Parkson Corporation in a cross-border dispute regarding the leasing arrangement with Hassan Development. 

Assisted Agoda with regulatory, licensing and registration matters as part of their expansion into Cambodia. 

Key clients 

Bali Sports Foundation, Freshfields Bruckhaus Deringer 

Tilleke & Gibbins

The Phnom Penh office of regional firm Tilleke & Gibbins has a particularly strong reputation in the corporate and intellectual property spaces. The firm is widely recognised and trusted by a diverse range of local and multinational companies to advise on all aspects of market entry and operations in frontier and emerging jurisdictions. Under the leadership of Jay Cohen, Tilleke & Gibbins’ 16-person team focuses especially on commercial transactions, labour and employment, and key regulatory matters for highly regulated industries such as banking and finance and energy. Partner and director Jay Cohen is the main contact.  

Work highlights 

Advised Navis Capital on on its acquisition of CIA First International School. 

Advised a leading pharmaceutical company on restructuring and splitting key distribution agreements with one of Cambodia's largest pharmaceutical distributors. 

Advised a leading bank in Cambodia on regulatory matters in the banking and financial services sector. 


VDB Loi is a leading legal and tax advisory firm in Cambodiawith particular expertise in energy and infrastructure, real estate and taxRecently the firm has also made progress in its banking and finance practice by acquiring many new clients seeking entry into the Cambodian market. Edwin Vanderbruggena and Laysym Sim are key partners 

Client feedback 

Has a good working relationship and is always attentive to the client. – Banking and finance 

Exceedingly professional and responsive. – Corporate and M&A 

Phomra Saray 

She is highly capable, experienced, accessible and responsive. She is always willing to go to great lengths to service her client. 


Work highlights 

Advised The Blue Circle on one of the first wind power projects in Cambodia. 

Advised Prime Road Power on a solar power plant project based in Kampong Chhnang province. 

Advised Oriental Bank in the establishment of a new bank in Cambodia. 

Key clients 

Arcadia Land, Phillip Bank, World Bank