Due diligence before an acquisition in Southeast Asia: what we look for

A clean public profile is comforting, and often misleading. Across Southeast Asia, the most material risks in a transaction often live one or two layers below the corporate filings, in undisclosed litigation, related-party flows, regulatory history and reputational sourcing.

The four layers we work through

1. Corporate and beneficial ownership

Mapping the ultimate beneficial owners across holding entities, including nominee arrangements and cross-jurisdictional vehicles. Public registries are the starting point, not the answer.

2. Litigation and regulatory record

Civil and criminal litigation searches in every jurisdiction the principals operate in. Regulatory and licensing checks where the sector is supervised.

3. Adverse media and reputation

Structured adverse media review across local-language sources, plus discreet reputational sourcing from former counterparties and advisers.

4. Operational reality

Confirming that what is described in the data room matches what exists on the ground, premises, headcount, key supplier relationships, customer concentration.