Cross-border lending in Asia Pacific continues to grow steadily despite external factors such as COVID-19. While the region is not immune to external factors, borrowing volumes for financial institutions, credit funds and other market participants remain high in Asia Pacific. Considering the demographics of many of the nations, the various financial centers and many market participants investing more substantially in some of those financial centers, we remain optimistic that lending activity across Asia Pacific will continue to grow.
The Asia Pacific Guide to Lending and Taking Security was originally published in 2017. It contains questions and answers that are important to lenders in the region when considering whether to lend and what happens if things go wrong. We have revised some of the questions and added some new questions concerning post-COVID-19 forbearance laws and regulations affecting lenders, including looking at restrictions where offshore lenders would like to take security.
Also included in this guide is a new section on working digitally, which is highly relevant today and will be going forward. This new section covers the electronic execution of documents, verification of the signature of a person witnessing a document, perfecting a security without a wet ink signature and any legal restrictions to the electronic execution of financing documents.
The guide covers 14 jurisdictions in the region: Australia, Cambodia, the People's Republic of China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Taiwan and Vietnam.
This guide is a result of combined efforts from lawyers across major cities and financial centers in Asia Pacific. We hope you will find this guide useful and we would be very happy to help you to navigate these and any other markets you are operating in or looking to go into.
Chair, Asia Pacific Banking and Finance Group
NOTE: The content of this guide is current as of 3 September 2021; the high-level guidance in this document is not intended to be comprehensive legal advice.