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Kobkit Thienpreecha

Partner and Director, Corporate and Commercial

Biography

Kobkit Thienpreecha, a partner and director of Tilleke & Gibbins’ corporate and commercial group, has been a leading corporate lawyer with the firm for over a decade. Having been selected as counsel by numerous foreign clients that wish to do business in Thailand—ranging from private entrepreneurs to multinational industrial manufacturers, traders, and service providers from various industries—Kobkit excels at designing targeted, legitimate, and practical solutions for foreign business start-up structures.

Kobkit also specializes in offering diverse legal support services at the highest standard, including antitrust and trade competition, company incorporation, joint ventures, M&A, investment promotion, Foreign Business License, capital markets and IPOs, specific business permits and licenses, immigration, regulatory compliance, and all foreign clients’ affairs. With support from his experienced service team, Kobkit continues to overcome challenges and succeed in landmark cases, which further his reputation, attract referrals, and build his incomparable clientele.

Kobkit has received remarkable recognitions by several publishers. He was ranked as a “Recognized Practitioner” in Corporate/M&A practice in the 2019 edition of Chambers, while the Legal 500 Asia Pacific  2019 rankings note that clients speak of Kobkit as a “go-to-guy” for corporate and M&A work, and elsewhere in the guide he is identified as a “capital markets specialist.” Kobkit was also ranked as “leading lawyer” in Asialaw Profiles 2019, and as one of the top 100 lawyers in Thailand by Asia Business Law Journal.

Known for delivering sharp and reliable advice, Kobkit’s performance is outstanding and dynamic, as represented by his involvement in IPOs, securities transactions, M&A deals, bids for government projects, joint ventures, shareholders’ disputes, and NGO licenses.

Experience

  • Acted for Satang Corporation and its shareholders in the sale of a 97% stake to Unita Capital, a wholly owned subsidiary of Kasikornbank PCL. This transaction is the largest successful and complete acquisition of a digital asset exchange operator licensed by the Thai Securities and Exchange Commission, marking an important milestone for the Thai digital asset industry.
  • Advised Destination Group Asia, an integrated destination management company operating 33 offices in 11 major countries in Asia, on its acquisition by dnata, which as one of the world’s largest air services providers is based in Dubai as part of the Emirates Group.

  • Assisted Bottega Veneta, an Italian luxury goods and high fashion brand, with a transaction to buy back two stores in Bangkok from its Thai franchisee, Central Group, which is a USD 9.7 billion Thai retail conglomerate. The acquisition involved setting up a joint venture company to operate Bottega Veneta duty-paid stores in Bangkok.

  • Assisted AICA Asia Pacific Holding Pte Ltd, a leading manufacturer of high-performance and quality adhesives and surfacing solutions in the Asia Pacific region, as well as the Singapore-based overseas arm of Japanese listed AICA Kogyo, in acquiring a 60% stake in Thai Chemical Corporation Limited, a joint venture between Srifuengfung and Mitsubishi Corporation that manufactures plasticizers and adhesives in Thailand. The deal was worth over THB 670 million (about USD 22.2 million).

  • Provided regulatory advice on various cross-border transactions with Thai investors to First State Investments, a global asset management firm with more than USD 143.8 billion under management.

  • Entrusted by Restaurants Development Co., Ltd., a franchisee for KFC restaurants in Thailand, to provide legal advice on potential competition law issues relating to its franchise rights granted by Yum Restaurant International (Thailand) Co., Ltd., particularly with respect to local rules and restrictions on the expansion of franchise outlets.

  • Provided regulatory advice on cross-border approaches made to Thai investors, including certain marketing activities, to Merian Global Investors (formerly Old Mutual Global Investors), a global asset management firm with more than USD 44.8 billion under management.

  • Worked with Simmons & Simmons LLP to advise a major international bank in writing and implementing a set of internal cross-border guidelines for its investment bank business, thus assisting the business in understanding the various licensing and other requirements for offering or providing certain financial products and services to clients in Thailand on a cross-border basis. The scope of guidelines covers a broad range of global banking products, global markets, securities and derivatives, and other services.

  • Advised Banco Bilbao Vizcaya Argentaria, S.A., a Spain-authorized bank, in a multi-jurisdictional survey on the legal and regulatory requirements for the offering of certain types of financial derivatives, foreign exchange services, and bonds to the client’s targeted counterparties.

  • Represented Visa International, one of the world’s leading payment brands and one of the largest payment systems worldwide, on a range of matters, including corporate and regulatory compliance with Thailand’s Payment System Act.

  • Led the Tilleke & Gibbins team—working in coordination with the German lead counsel (Osborne & Clarke)—in advising Wirecard AG, a German listed electronic payment processing company, on all aspects of the Thailand portion of their purchase of Citibank’s merchant-acquiring business in 11 markets in the Asia Pacific region.

  • Provided complete legal and tax analysis—including preliminary due diligence and compliance checks, amalgamation, company formation, transfer of license, company secretarial services, and tax advice—to DNV GL Group, the world’s largest classification society, in line with its strategic global reorganization plan.

  • Provided full professional legal support for incorporation, foreign ownership licenses, architectural licenses, tax advice, and contract reviews to Skidmore, Owings & Merrill LLP, one of the largest architectural firms in the world, in establishing a subsidiary in Thailand to lead the design of the largest private-sector development in Thailand to date.

  • Assisted Booking.com, one of the world’s leading online hotel booking websites, in setting up wholly-owned subsidiaries in Thailand by securing a foreign business license (the first ever issued for that type of business) and investment promotion privileges from the Board of Investment.

  • Represented the world’s leading car seat maker in critical negotiations with the Board of Investment (BOI) on potential revocation of all benefits and privileges, which could have led to damages of over USD 20,000,000. In addition to our overwhelming victory at the BOI, we successfully obtained several Alien Business Licenses, which will allow the clients’ subsidiaries in Thailand to provide service to affiliates in the region.
  • Represented a leading electronic toll collection system provider as its sole legal counsel since the commencement of its operations in Thailand in 2006. In this capacity, we have assisted our client in bidding for government contracts, obtaining BOI promotion, and all other compliance matters.
  • Selected from several candidate law firms to assist a reputable Thai manufacturer in the IPO process, including preparation, conversion to public company, SEC filing, and SET listing. Several years after the IPO, the company has greatly prospered such that the owner has become one of the ten richest persons in Thailand. We are proud to continue representing this client.
  • Acted as the contributor from Thailand to a global survey and the development of a platform for marketing foreign securities and disclosure requirements, coordinated by Simmons & Simmons LLP, a leading law firm in the U.K. We provided extensive analysis, including original and in-depth research on the securities laws of Thailand pertaining to the offering of foreign funds. The survey summary was made available online to subscribers, which consisted of fund managers, securities companies, banks, insurance firms, and other financial institutions from all over the world.
  • Helped a client resume company operations by resolving corporate matters and litigation impeding the commencement of business.
  • Secured an Alien Business License for the world’s leading online booking website, which was a first and landmark achievement in this industry. Despite the fact that the governing authorities normally reserve all tourism operations for Thai nationals, we succeeded in convincing these decision makers of the great value that this business would add to Thailand and its economy. We coordinated and secured the approval of each authority and, ultimately, obtained the Alien Business License for our client.
  • Provided assistance in a full range of corporate matters and foreign business issues for a global healthcare and well-being retailer chain.
  • Represented the world’s leading manufacturer of lingerie and swimsuits by providing advice and assistance for a broad range of corporate and foreign business matters.
  • Represented a renowned Italian luxury fashion brand for its corporate matters in Thailand.
  • Assisted an iconic British luxury brand with foreign investment issues.
  • Helped an Australian fashion brand to restructure its Thai subsidiary company and assisted with a full range of corporate services.
  • Provided consultation on general corporate matters and securities laws and regulations for the world’s leading aircraft and automotive tire manufacturer.
  • Represented a U.S. private equity firm in opening a branch of a foreign securities firm and applying for approval from the Thai Securities and Exchange Commission.
  • Helped a Phuket-based hotel to resolve a shareholder dispute.
  • Provided advice on corporate stake holding and disclosure rules to an offshore investment vehicle of the Singaporean government.
  • Assisted the world’s leading LPG gas valve manufacturer in the buyout of its Thai partner and application for Board of Investment privileges.
  • Assisted a Chinese state-owned telecom operator in establishing a wholly owned subsidiary in Thailand for consultation and technical support to mobile phone companies, as well as BOI application.
  • Worked with a leading military and defense subcontractor to restructure its subsidiary company in Thailand and submit a BOI application for a project related to the Royal Thai Navy and Air Force.
  • Represented a leading semiconductor manufacturer in its corporate dissolution in Thailand.
  • Assisted a leading motor oil producer in divesting its interests in two local companies.
  • Represented Thailand’s largest biogas producer in resolving a shareholder dispute and providing corporate services for affiliated companies.
  • Assisted a worldwide information technology company in selling a stake in its local subsidiary to a Thai partner.
  • Acted on behalf of a diversified manufacturer of engineered products and specialty systems to acquire a plastic bag factory in Thailand and incorporate a wholly owned subsidiary.
  • Assisted in an acquisition and corporate restructuring for one of the world’s leading manufacturers of chemicals, fertilizers, plastics, and metals.
  • Helped in the acquisition of beachfront land in Phuket for a Kazakhstan-based property developer.
  • Provided assistance to a logistics company in the establishment of a distribution center in the Eastern Seaboard, as well as a BOI application.
  • Represented a Thai manufacturer of lingerie and swimsuits in its conversion to a public company limited, its IPO, and its listing on the Stock Exchange of Thailand.
  • Established a local entity, regional office, representative office, or branch office for the following companies, among others:
    • An engineering, procurement, and construction service company from India (2011)
    • America’s leading business and financial news company (2011)
    • A renowned e-commerce website engaged in global expansion (2011)
    • A Japanese manufacturer of environmental and industrial machinery (2011)
    • The world’s leading waterjet cutting machine manufacturer (2011)
    • A multilevel marketing company selling healthcare and nutritional foods from the United States (2011)
    • The world’s number one mobile and internet supply chain manager (2011)
    • The world’s leading cargo handling machine producer (2010)
    • A U.S. clinical trial services company (2010)
    • A leading agrochemical manufacturer from Denmark (2009)
    • A mobile phone software solution from Singapore (2009)
    • A Singaporean building system integration company (2009)
    • A freight forwarder from Italy (2008)
    • An India-based automotive parts manufacturer (2008)
    • An automotive and household appliance conglomerate (2008)
    • A major software developer (2008)
    • The top online travel booking service company in Japan (2008)
    • A global law firm specializing in customs matters (2007)
  • Engaged by BIMobject, the world’s leading building information modeling technology company, to assist them in entering into a joint venture (JV) with CPAC, a subsidiary of the cement and building materials manufacturer SCG, which is valued USD 15.6 billion and is Thailand’s largest industrial conglomerate. We reviewed a set of agreements relating to the JV and advised on corporate structure, IP licensing, compliance, and other regulatory issues.
  • Engaged by Syngenta Asia Pacific Pte. Ltd., a Switzerland-based global leader in agricultural science and technology, to provide legal services to its subsidiaries in Thailand regarding solutions for operating as a 100% foreign-owned entity conducting full-cycle seed businesses and relocation of one of its business unit’s regional office from Singapore to Bangkok under the Board of Investment’s “international trading center” category.
ABOUT Kobkit

Industries

Consumer Products

Fintech

Practices

Banking and Finance

Capital Markets

Competition and Trade

Compliance and Investigations

Corporate/M&A

Tax

Location

Languages

    Thai

    English

Education

    LLM, University of Minnesota School of Law

    LLM, American University, Washington College of Law

    LLB, Chulalongkorn University

Insights

October 30, 2024
On September 18, 2024, Thailand’s Securities and Exchange Commission (SEC) issued comprehensive guidelines to make it easier for foreign business operators to provide investment services in Thailand. These guidelines are designed to support Thailand’s goal of becoming a global financial hub and align with government efforts to enhance the ease of doing business. The guidelines primarily focus on streamlining the process for foreign firms applying for securities and derivatives licenses, and ensuring quicker and more transparent entry into the Thai market for businesses offering securities (such as shares, mutual funds, and collective investment schemes) and derivatives (such as futures and options). Fast-Track Licensing Under the new guidelines, the SEC will provide support to foreign companies wishing to operate securities businesses in Thailand. This support includes a fast-track licensing process for foreign operators that meet certain qualifications, such as having a company incorporated in Thailand, having operated a system of group companies for at least five consecutive years, and being supervised by a regulator under the IOSCO MMoU (International Organization of Securities Commissions Multilateral Memorandum of Understanding). The SEC will also collaborate with the Ministry of Commerce to grant exemptions from the requirement of a foreign business license for companies providing certain services relating to or supporting securities or derivatives businesses, such as net asset value calculation/confirmation for mutual funds, and promotion of capital market products. Applying for foreign business licenses has long been a complicated process for foreign operators, and this exemption can help reduce such complications. Targeted License Exemptions to Reduce Regulatory Burdens Foreign operators providing specific investment services may be exempt from full securities and derivatives licensing requirements, saving time and costs associated with the full licensing process, and allowing them to start their businesses quickly and efficiently. Key exemptions include: Foreign operators providing derivatives services solely
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October 20, 2024
Following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin ETFs, Thailand’s Securities and Exchange Commission (SEC) is reassessing regulations on the investments of mutual funds and private funds (collectively “Funds”). The SEC has launched a public consultation on new draft notifications introducing  the new asset classes that can be held by Funds, and aims to bring these rules into effect on January 1, 2025. The highlights of these changes are set out below. Eligible New Asset Classes The new asset classes that can be held by Funds can be categorized into two types—investment tokens and crypto assets—and the determination will focus on substance over form. Investment tokens: If the substance involves raising funds, regardless of what the assets are called, and they are legally issued and offered or approved by home regulators that are members of the International Organization of Securities Commissions (IOSCO), Funds can invest in these types of assets as transferable securities within the permitted ratio. Crypto assets: The eligible crypto assets which Funds are entitled to hold focus on crypto ETFs or offshore funds investing in crypto assets, and they are subject to investment limits. Funds can hold crypto assets directly, but only temporarily, and only for the purpose of purchasing, selling, or exchanging the crypto assets, not speculative purposes. The notifications state that Funds may hold Bitcoin/Ethereum for no longer than five business days and USDT/USDC for no more than one month. Investment Limits Typically, the rules segregate investment limits into listed and non-listed digital assets, and the limits depend on the sophistication of the investors in the Funds. In general, UI Funds (mutual funds offered to institutional investors or ultra-high net worth investors) can invest in these new asset classes without any limitations, although net exposure to other crypto assets  –  which
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August 29, 2024
Thailand’s Securities and Exchange Commission (SEC) has revised its regulations on digital asset operators and exchanges to impose stricter governance standards on digital asset business operators and to align digital asset exchange rules with international standards. The new regulations are laid out in SEC Notification No. GorThor. 23/2567 on the Criteria, Conditions, and Procedures for Operating a Digital Asset Business (No. 24) and SEC Notification No. GorLorThor. 24/2567 on Determination of Prohibited Qualifications for Directors and Executives of Digital Asset Business Operators (No. 5). These were published in the Government Gazette on August 16, 2024, with most of the provisions taking effect on the same date. Governance for Digital Asset Businesses The heightened standards for digital asset business operators aim to ensure efficient business supervision and appropriate response to operational risks. The new requirements mainly address: Board of directors composition. Large-sized digital asset business operators (i.e., those with at least 10,000 customers and holding customer assets of at least THB 500 million) who do not provide digital asset custodian services must have at least five directors, at least two of whom must be independent directors. In addition, the business operators must establish an audit committee, with at least two members being independent directors, to create an appropriate “check and balance” mechanism within the organizational structure. Current digital asset business operators must comply with the requirements within 180 days of the notification’s effective date. Qualifications of authorized directors and managers. Authorized directors and managers are now required to (1) either have at least one year of working experience in the digital asset field or have participated in a digital asset course from an SEC-approved list, and (2) participate in a good corporate governance course recognized by the SEC. Current authorized directors and managers who have not previously completed a good
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August 23, 2024
Thailand’s Securities and Exchange Commission (SEC) amended its utility token supervisory framework by issuing seven notifications that came into effect on August 13, 2024. Ready-to-use utility tokens (tokens that can be used immediately to acquire specific goods or services), which were previously unregulated, are now subject to the supervisory scheme set forth by the seven new notifications in both primary and secondary markets. This is intended to provide an investor protection mechanism that responds to the characteristics, risks, and usage of the different types of ready-to-use utility tokens. Under the new notifications, ready-to-use utility tokens are categorized into two groups. These are detailed below. Group 1 Utility Tokens Group 1 utility tokens include ready-to-use utility tokens issued for consumption purposes or as a digital representation of a certificate. Examples include loyalty points, digital movie or concert tickets, NFTs, and carbon credits, among others. Principally, there is no change in the regulation of group 1 utility tokens under the new notifications. In the primary market, issuance of this type of token is not subject to the initial coin offering (ICO) requirements. In the secondary market, providing services related to group 1 utility tokens is not considered to be the same as operating a digital asset business with licensing requirements under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). Licensed digital asset operators (including exchanges, brokers, and dealers) are not permitted to list or trade group 1 utility tokens. To provide services in relation to group 1 utility tokens, these licensed digital asset operators must establish a separate entity to provide those services and must not use names or messages that could cause the public to misunderstand that the separate entity is engaged in a digital asset business under SEC supervision. Group 2 Utility Tokens Group 2 utility tokens
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Awards & Rankings

September 30, 2024
Tilleke & Gibbins has once again been recognized in the 2024 Asian Legal Business M&A rankings, retaining its Tier 2 position for both Thailand and Vietnam. This marks the 11th consecutive year that the firm has been acknowledged in the publication, reflecting its sustained strength in the M&A market across the region. The magazine’s M&A rankings evaluate firms based on several key metrics, including the volume, complexity, and size of transactions handled, as well as the firm’s presence across Asia. The rankings also take into account key personnel hires and the overall growth of each practice group. The evaluation period for the 2024 edition spanned from August 2023 to July 2024. Tilleke & Gibbins’ representation in the Thailand and Vietnam rankings reflects the firm’s reputation for consistently strong support of corporate transactions across Southeast Asia. Asian Legal Business, owned by Thomson Reuters, is a leading source of information for legal professionals active in the region. To learn more about the M&A rankings, and to browse the full rankings, please see the Asian Legal Business website.
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September 13, 2024
The 2024 edition of the IFLR1000 Asia-Pacific rankings, released by International Financial Law Review (IFLR), highlights Tilleke & Gibbins’ continued excellence in financial and corporate transactional work. The firm has retained its strong rankings across multiple jurisdictions and practice areas, reaffirming its position as a leading firm in the Asia-Pacific region. This year, Tilleke & Gibbins received firmwide rankings in key jurisdictions, including: Thailand Banking & Finance – Tier 3 Capital Markets: Debt – Tier 3 Capital Markets: Equity – Tier 3 M&A – Tier 2 Project Development – Tier 2 Restructuring & Insolvency – Tier 3 Vietnam Banking & Finance – Other Notable M&A – Tier 3 Project Development – Tier 3 Cambodia Financial & Corporate – Tier 2 Project Development – Tier 2 Laos Financial & Corporate – Tier 2 In addition to these firmwide rankings, Tilleke & Gibbins had several standout individual recognitions, with 10 lawyers honored in the 2024 individual rankings, including new entries for John Frangos, Niti Muangkote, Santhapat Periera, and Tram Ngoc Bich Nguyen. The full list is as follows: Charunun Sathitsuksomboon – Highly Regarded, M&A, Thailand Charuwan Charoonchitsathian – Rising Star, M&A, Thailand David Mol – Rising Star, Corporate and M&A, Cambodia Jay Cohen – Highly Regarded, Banking, Cambodia John Frangos – Notable Practitioner, Restructuring & Insolvency, Thailand (new ranking) Niti Muangkote – Rising Star, Financial & Corporate, Laos; Highly Regarded, Banking & Finance, Thailand (new ranking) Saithong Rattana – Notable Practitioner, Project Development and M&A, Laos Santhapat Periera – Highly Regarded, Banking, M&A, Laos; Highly Regarded, Banking & Finance, Thailand (new ranking) Supasit Boonsanong – Highly Regarded, Project Development, Thailand Tram Ngoc Bich Nguyen – Highly Regarded, M&A, Vietnam (new ranking) To see the full set of IFLR1000 rankings for Tilleke & Gibbins’ jurisdictions, please see the Cambodia, Laos, Thailand, and
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September 12, 2024
Tilleke & Gibbins has once again secured impressive rankings in the recently released Asialaw 2024 rankings. The firm has maintained its position as a top legal service provider across multiple jurisdictions, earning a total of 39 rankings in practice and industry groups, 19 of which are in the highest tiers. The firm’s performance continues to reflect its exceptional client service and legal expertise across Southeast Asia. Tilleke & Gibbins is recognized in all available categories for Cambodia, Laos, and Thailand, demonstrating the firm’s strong presence across the region. In the individual rankings, 22 of the firm’s practitioners have been recognized, including three notable promotions and three new entries: Charunun Sathitsuksomboon (Thailand), newly ranked as a Notable Practitioner for Corporate and M&A. Linh Thi Mai Nguyen (Vietnam), promoted to Distinguished Practitioner for Intellectual Property. Loc Xuan Le (Vietnam), promoted to Elite Practitioner for Intellectual Property. Niti Muangkote (Laos), a new entry as a Rising Star for Banking and Finance. Prisna Sungwanna (Laos), newly ranked as a Distinguished Practitioner for Corporate and M&A and Banking & Finance. Suebsiri Taweepon (Thailand), promoted to Distinguished Practitioner for Intellectual Property and Technology and Telecommunications. Client feedback remains a key component of the Asialaw rankings, with Tilleke & Gibbins earning high praise for its responsiveness and commercial awareness. The firm’s sector-specific knowledge also continues to stand out, with clients expressing their appreciation of the firm’s understanding of their businesses’ operational contexts. For more details and to browse the full rankings, please visit the Asialaw website.
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August 22, 2024
Tilleke & Gibbins has once again been acknowledged in the International Tax Review (ITR) World Tax rankings, maintaining the firm’s position as a notable player in the field of tax law in Thailand. The recently released World Tax 2025 rankings highlight the firm’s continued excellence in providing high-quality tax legal services. In this year’s edition, Tilleke & Gibbins secured Band 3 rankings in three key categories for Thailand: Customs Transfer Pricing General Corporate Tax These rankings reaffirm the firm’s strong presence in the Thai tax law landscape and its commitment to delivering expert legal services across various tax-related disciplines. The ITR World Tax rankings are widely recognized as an authoritative assessment of the world’s leading tax law firms. They offer valuable insights into the most reputable and effective practitioners in the tax industry across multiple jurisdictions. The rankings are primarily based on client feedback, comprehensive research of law firm submissions, and input from peers in the market. For more information on World Tax 2025 and to explore the complete rankings, please visit the ITR World Tax website.
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