Prisna Sungwanna

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Partner and Director, Laos

Biography

Prisna Sungwanna is partner and director of Tilleke & Gibbins’ office in Laos, overseeing the full scope of the firm’s operations in the jurisdiction, with a particular focus on corporate, commercial, and dispute resolution matters. With over 30 years of legal practice in the region, Prisna is regarded as a leading figure in Southeast Asia’s legal community. She is recognized for her expertise in corporate law, energy and infrastructure projects, and complex M&A transactions, and she is the lawyer of choice for major regional and international organizations looking to expand business operations in Southeast Asia.

With a wealth of experience advising foreign investors, Prisna has a strong background in advising on compliance issues and regularly assists clients in practically managing and mitigating associated risks, advising foreign investors on corporate structuring and restructuring, and corporate management and control. She excels at guiding clients through the challenges that can arise as they pursue their business goals in Southeast Asia, and her long record in corporate structuring and transactions has made Prisna a go-to advisor for leading companies around the world.

Her client portfolio encompasses a spectrum of industries, including cosmetics, energy, finance, infrastructure, manufacturing, and technology, and her comprehensive guidance extends to advising foreign investors on investment incentives, work permits, visas, and real estate matters. Prisna’s multifaceted expertise positions her as a cornerstone in facilitating seamless market entry and sustainable growth strategies for clients in the region.

Prisna is also dedicated to assisting pro bono clients, such as her longtime assistance to an overseas foundation in its support of pediatric hospital facilities in southern Thailand. Beyond her legal practice, Prisna also regularly publishes insights and updates on legal developments in Laos and Thailand.

Experience

Assisted an American multinational with diversified business operations in life sciences, technology, testing and diagnostics, and other areas with the Thailand asset sale related to the global sale of its applied, food, and enterprise services businesses to a US-based private equity firm.
Represented a German developer of industrial technologies in acquiring multiple Thai operations from a US-headquartered specialized equipment company.
Represented a Singapore-listed manufacturer and digital solutions provider for the healthcare industry in the disposal of subsidiaries in Thailand and Malaysia through share transfer transactions.
Advised a NASDAQ-listed technology company on establishment of its first assembly plant outside the U.S. with a total capacity of 500,000 items of suspension assembly per year at a total project cost of over USD 100 million and USD 35 million in project financing for the Thailand operation.
Advised a Japan-based international convenience store chain on the acquisition of 265 retail convenience stores through establishment of a joint venture with a listed consumer manufacturing company in Thailand.
Advised a Thai petroleum and chemical tanker operator on MRO business and aviation service, including its shareholders’ agreement and project agreements.
Advised a Southeast Asia oil giant, the major shareholder of six operating vehicles for petroleum retail business in Thailand, and more than 180 gas stations in-country, on the disposal of all operating vehicles in Thailand.
Advised on licenses and regulations for the manufacturing of ammunition, and assisted with the acquisition of shares and due diligence on legal risk and opportunities in an ammunition business.
Acted as legal advisor for the maintenance and refurbishment of a Cessna Skymaster T-337 of the Royal Thai Navy.
Acted for one of the parties in the amalgamation of two of Thailand’s leading power companies.
Acted for a European chemical and plastics conglomerate in its buyout of a Thai company’s interest in a Thailand-based PVC manufacturer.
Advised on a Singaporean company’s acquisition of five solar power plant projects in Thailand, in the project development phase, with a total capacity of 78 MW.
Advised a Thai interactive design and marketing agency on the sale of majority shares by existing shareholders to a division of a leading British multinational advertising and public relations company.
Advised a leading Japanese-based chemical industry group with operations in 25 countries on the acquisition of 75% of a major manufacturer of carbon fiber composite parts/components for automobiles in Thailand.

ABOUT Prisna

Languages

Thai

English

Education

LLB, Ramkhamhaeng University

Insights

December 15, 2023

Lex Mundi Guide to Doing Business in Thailand 2023

As part of its membership in Lex Mundi, Tilleke & Gibbins has published an updated edition of its Guide to Doing Business in Thailand for 2023. This guide outlines the key factors for starting and operating a business in the Thai market. Issues covered include: Investment incentives Financial facilities Exchange controls Import and export regulations Structures for doing business Requirements for the Establishment of a Business Operation of the Business Cessation or Termination of the Business Labor legislation, relations, and supply Tax Immigration requirements This publication is part of Lex Mundi’s Country Guides series prepared by member firms in more than 100 jurisdictions worldwide. The guides serve as a useful resource for planning international business strategy and researching new markets. The full Guide to Doing Business in Thailand is available through the button below.

July 7, 2023

Employment Law Basics in Southeast Asia

Tilleke & Gibbins is pleased to announce the release of Employment Law Basics in Southeast Asia. This publication serves as an indispensable resource for businesses navigating the complex landscape of employment law in Cambodia, Laos, Myanmar, Thailand, and Vietnam. Authored by Tilleke & Gibbins’ regional team of employment law specialists, the guide provides a detailed overview of key employment law topics essential for businesses operating or planning to expand their operations in Southeast Asia. From employment contracts to termination procedures, each topic is examined in depth to ensure businesses are well-equipped to comply with local regulations and protect their interests. Key topics covered in the guide include: Employment contracts Probationary period Minimum wage Social security and statutory payments Working hours Leave and holidays Work rules Termination Foreign employees Data protection Remote work AI and automation Our guide offers multinational corporations establishing a presence in the region and local enterprises alike practical insights and actionable advice tailored to the unique regulatory environments in Cambodia, Laos, Myanmar, Thailand, and Vietnam. To access the full guide, please download the PDF below.

February 6, 2023

Thailand’s DBD Clarifies Updated Requirements on Publication of Shareholders’ Meeting Notices

Thailand’s Department of Business Development (DBD) has clarified that even after the amended Civil and Commercial Code (CCC) comes into effect on February 7, 2023, companies with articles of association pursuant to the previous CCC will still have to follow the previous requirements for publication of shareholders’ meeting notices. The amended CCC removes the requirement for companies to publish a notice in a local newspaper when calling a general meeting of shareholders. Instead, companies can call a general meeting of shareholders either by sending a notice by post with acknowledgement of receipt to every shareholder whose name appears in the register of shareholders or by delivering the notice in person. However, the amended CCC still requires companies that have issued share certificates to bearers to publish a notice at least once in a local newspaper or via electronic means, as prescribed by the relevant ministerial regulations. Notwithstanding these updated requirements, the DBD has issued a clarification explaining that the amended CCC coming into effect on February 7 will not usher in a blanket change to the way most companies are required to notify shareholders about a general shareholders’ meeting. If a company’s articles of association were made pursuant to a prior version of the CCC, that company will still need to publish a notice calling for a general meeting of shareholders in a local newspaper—even after the new amendment becomes effective. If companies would like to change their practice so that they no longer have to publish this notice, they will need to amend their articles of association after the effective date of the amended CCC. For more information on the new requirements of the amended CCC, or on any aspect of corporate laws and corporate governance in Thailand, please contact Prisna Sungwanna at [email protected], or Kobchai Nitungkorn at

November 14, 2022

Thailand Officially Opens New M&A Pathway—Plus Eight Other Notable Changes in the Amended CCC

On November 8, 2022, the Act Amending the Civil and Commercial Code B.E. 2565 (No. 23)—which Tilleke & Gibbins wrote about last month as the law was poised for enactment—was published in the Government Gazette, completing a lengthy process that had been under scrutiny for over two years. The act is expected to come into effect on February 6, 2023 (i.e., 90 days after the date of publication). New M&A Option The new amendments contain a number of important changes, but perhaps the most notable is the introduction of a new type of business combination. The Civil and Commercial Code (CCC) previously only allowed “amalgamation,” which is a consolidation of two or more companies resulting in the formation of a new entity, with all the amalgamating companies being dissolved. The amended CCC provides more options by introducing “merger” as another possible type of business combination. A merger occurs when two or more companies merge and one of the companies continues to exist while the others companies are dissolved. Like the newly created company in an amalgamation, the surviving entity in a merger assumes the property, liabilities, rights, obligations and responsibilities of all the dissolved entities. Some important considerations for the merger process (which also apply to amalgamations) are specified in the amended CCC as follows: Purchase of shares from dissenting shareholders. The amended CCC allows minority shareholders who disagree with the merger (or amalgamation) to sell their shares to the other existing shareholders at the agreed price. Alternatively, the price may be determined by an appointed valuer if the parties cannot reach an agreement on the purchase price. If the share purchase does not occur within 14 days of the offer date, the shareholder who rejects the offer will become a shareholder of the surviving (or newly created) company

Awards & Rankings

March 15, 2024

Law.com International Names Tilleke & Gibbins Southeast Asia Firm for 2024

Tilleke & Gibbins has been selected as the recipient of the Southeast Asia Firm of the Year award at Law.com International’s Asia Legal Awards 2024. The accolade was bestowed at a gala dinner and awards ceremony held at the Fullerton Hotel in Singapore on March 14.

March 12, 2024

Tilleke & Gibbins Nominated for Chambers Asia-Pacific and Greater China Region Awards 2024

Tilleke & Gibbins has been nominated for three esteemed awards at the upcoming Chambers Asia-Pacific and Greater China Region Awards 2024: Thailand Firm of the Year Vietnam Firm of the Year Outstanding Firm for Diversity & Inclusion The nomination for Thailand Firm of the Year marks Tilleke’s fourth consecutive nomination and 10th overall since 2010, with the firm previously clinching the award in 2014. The firm is also a repeat nominee for the Outstanding Firm for Diversity & Inclusion award, while this is the first time Chambers has shortlisted Tilleke for the Vietnam Firm of the Year category in these awards. The winners of the Chambers Asia-Pacific and Greater China Region Awards 2024 will be announced at an exclusive in-person event scheduled to take place in Hong Kong on May 29, 2024. To learn more about the Chambers Asia-Pacific and Greater China Region Awards 2024 and browse the full list of nominations, please visit the Chambers and Partners website.

January 30, 2024

Tilleke & Gibbins IFLR Asia-Pacific Awards 2024 Nomination

The International Financial Law Review (IFLR) recently unveiled the shortlists for the IFLR Asia-Pacific Awards 2024, and Tilleke & Gibbins has been nominated for Thailand Firm of the Year at this competition recognizing outstanding legal firms and professionals across the Asia-Pacific region. The IFLR Asia-Pacific Awards are based on research by the IFLR team and careful selection by an internal panel of judges. The firm’s nomination conveys the firm’s continued commitment to excellence and its leading position in Thailand’s legal landscape. Winners of the IFLR Asia-Pacific Awards 2024 will be revealed at a gala dinner to be held in Hong Kong on March 20, 2024, at an event that will bring together industry leaders and legal professionals to celebrate excellence in the legal field. IFLR is a longstanding legal publication focusing on financial, transactional, and related matters in business law. To browse a full list of nominees for the IFLR Asia-Pacific Awards 2024, please see the shortlist on the IFLR website.

January 18, 2024

Tilleke & Gibbins Receives Four Nominations for Asia Legal Awards 2024

Law.com International has unveiled the shortlists for the Asia Legal Awards 2024, and Tilleke & Gibbins has been nominated for awards in four categories. The nominations include: Southeast Asia Firm of the Year Intellectual Property Firm of the Year (Asia-wide) M&A Firm of the Year (Asia-wide) TMT Firm of the Year (Asia-wide) In addition to these regional firm nominations, Tilleke & Gibbins has also been acknowledged for its exceptional work in the field of restructuring and insolvency. The efforts of Tilleke & Gibbins’ dispute resolution team in connection with Thai AirAsia X’s business rehabilitation plan earned the firm a nomination for Restructuring and Insolvency Matter of the Year. The winners of the Asia Legal Awards 2024 will be unveiled on March 14 at an in-person event in Singapore. For more information on the Asia Legal Awards 2024, and to browse a full list of nominees in all categories, please visit the Law.com International website.

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