Jaslyn Heng, a second year law student at the Singapore Management University, shares her experience as an intern with AEI Legal in December 2019.

1. What were some of the challenges you faced?

The initial challenges that I faced included, inter alia, learning to be concise and understanding the transaction from a wider perspective. Prior to the internship, I was accustomed to mostly identifying drafting and formatting errors in a document.

I was given constructive feedback to analyse a transaction by understanding (1) what the client’s business model is; (2) who the people in the client’s organisation are; and (3) what the deal is about.  

2. What was the highlight of your internship experience?

It would definitely be the personalised touch of handwriting one hundred personalised cards for the clients. I witnessed first-hand how the Director, Andrea as well as the Associate Director, Cheryl, invested time and effort into building relationships by delivering thoughtful gifts during the festive Christmas season.

In my capacity as a legal intern in a boutique firm, I was blessed with mentors such as Zhi Tian and Yuho who would allocate time to run through the mechanics of a deal with me, give instructions, which would be followed up with a post-mortem review of my completed task.

I drafted an announcement for a Catalist-listed company and reviewed it for compliance with the Companies Act, the SGX Catalist Rules as well as the client’s constitution. In addition, I revised a directors’ confirmation statement in respect of a capital reduction exercise conducted pursuant to Sections 78A - Section 78K of the Companies Act.

3.      What did you learn?

I observed that in order to function as a team which can deliver cutting-edge knowledge and expertise in the commercial domain, self-motivation is crucial. This was demonstrated when I saw how the legal secretaries stayed beyond their working hours during the festive period to deliver the documents required for a client’s upcoming Annual General Meeting.

I also assessed the investor-friendliness of certain provisions relating to liquidity risk in a trust, including the conditions precedent, dispute resolution clause and the pay-out clause. My drafting skills were also sharpened when I had the opportunity to review and comment on a term sheet.

4.      What advice would you provide to future interns?

Applying for a winter internship in December might seem intense, but Christmas and the New Year holidays allowed for an opportune window of celebration amidst the hustle. Be bold and be brave. Don’t be afraid to approach the partners or associates to ask for advice or feedback for work-related matters – a little initiative will go a long way!

Our opinions were valued. AEI Legal had sought the interns’ views on ideas for charity events that the firm could undertake. One recommendation which I proposed was granting bursary awards to underprivileged students studying law in SMU or NUS. In addition, I suggested that the partners and associates could consider giving pro bono legal advice at the SMU Pro Bono Centre, which is located within the vicinity.

5.      Did you enjoy your time?

AEI Legal was founded by directors with over 20 years of combined legal experience at Magic Circle and leading law firms in Singapore and Hong Kong, and are experienced in cross-border and domestic M&A transactions.

As a result, I was exposed to a variety of transactions and assisted in reviewing a wide range of transaction documents, such as a sale and purchase agreement, an Energy Performance Contract, a put and call option agreement and security documents.

I was privileged to have the opportunity of volunteering together with the firm at Willing Hearts, a soup kitchen that provides meals to the underprivileged, such as the elderly, the disabled and low income families. Our firm reported at 6.00am on a Friday morning, where we were tasked with packing food into tetra packets and ensuring that each box of food was carefully loaded into the delivery vans. This would then be distributed island-wide for the relevant beneficiaries. 

Li Zhengxi shares his experience as an intern with AEI Legal in December 2019. He is currently a second year law student at the National University of Singapore.

1.     What were some of the challenges you faced?

First, the firm specialises in M&A which I had absolutely no idea about. Everyday was a challenge because I had to look up most of the legal and financial jargon that I came across; terms like “convertible preference shares” and “convertible notes” were completely alien to me.

Second, I have never reviewed a contract, much less a shareholders’ agreement, share subscription agreement or an employment/service agreement. I did not know what to look out for at all, and everything seemed so foreign to me.

Third, I was (and am largely still) unfamiliar with many of the processes involved in a merger or acquisition deal. As a result, I had to seek clarifications for most of the documents that I worked on.

2. What was the highlight of your internship experience?

The entire internship was a huge learning experience, but I would recount 3 incidents that are the most memorable to me.

The first of which was when Andrea, the Director of the firm, called all the lawyers and myself into the meeting room to explain a deal that the firm was working on. She first gave us a big picture idea of the transaction, such as the various parties involved the deal and their respective interests, before going into the more important details that the client would be concerned about. She entertained all the questions that we raised just to make sure that everyone was on the same page.

That session was one of the most memorable moments during the internship because it showed me that the people in the firm were not just good at what they do, but good mentors as well.

The second was when I was given the task of working on a file involving Chinese counterparties. While working on the file, I saw how responsive the lawyers were to clients: they responded to emails within a few hours, and always seemed ready to pick up the phone. It did not help that one of the contracts was completely in Mandarin and thus was a lot harder to review. That episode was a display of exemplary work ethic.

The last highlight was when the entire firm celebrated Christmas over a buffet lunch.

Everyone seemed comfortable with one another outside of the workplace, and this reinforced my impression that the firm was like a family.

3.     What did you learn?

Generally, this internship gave me a flavour of M&A transactions and exposure to the processes of legal work and the requirements expected of lawyers. I was fortunate to be involved in files involving clients from different industries, and this helped me to understand some of the concerns that clients may have in general.

The lawyers from AEI were also very patient and helpful when guiding me throughout my three weeks here; from them, I learned more about myself and what kind of lawyer I would want to be in the future.

4.     What advice would you provide to future interns?

a.     Be a sponge and don’t be afraid to ask questions. Come in with an open and curious mind.

b.     When looking at any transaction, try to imagine yourself in the shoes of all the transacting parties to better understand their concerns.

c.     Make a log of everything that you have learned at the end of every day.

5.     Did you enjoy your time?

I enjoyed learning something new every day of the internship. The learning process was just as comfortable because everyone was very patient and willing to impart their knowledge. If there was something I was unsure of at any point in time, I could always turn to ask any of the lawyers. Overall, my stint here has taught me about the need for both technical competencies and work ethic; it has truly been an enriching experience.