Sirasa Supawasin – GC Powerlist
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Thailand 2023

Transport and infrastructure

Sirasa Supawasin

Director, legal | Precious Shipping

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Thailand 2023

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Sirasa Supawasin

Director, legal | Precious Shipping

What are the most significant cases or transactions that your legal team has recently been involved in?

We received the first sustainability-linked financing in an aggregate of $85m from IFC, Thai EXIM and TMB Thanachart Bank. The loan documentation was extensive, complex, and involved a significant amount of due diligence, documentation, and negotiations. In this transaction, the financing involved three major institutions, which required careful coordination and collaboration to ensure that all parties were aligned in their objectives. The due diligence process involved a comprehensive review of our operations, financial performance, and sustainability practices. This review was conducted by the lenders to ensure that we, as the borrower, met the sustainability criteria outlined in the loan agreement. We were required to provide extensive documentation, including sustainability reports, environmental impact assessments, and social performance reports, among others. Thankfully, because of the efforts, support, and professionalism of all parties, external and internal, we were able to complete the transactions within a short period of time.

How do you see the general counsel role evolving in Thailand over the next five to ten years?

As legal professionals, we need to adapt to effectively navigate the challenges of the constantly changing business and legal environment. Over the next five to ten years, I anticipate the general counsel’s role to evolve to include strategic advisory and risk management.

believe that general counsel will play a more prominent role as strategic advisors, providing valuable guidance and insights on legal and regulatory matters to senior management and the board of directors. This means that our responsibilities will extend beyond offering pure legal opinion or compliance alone, as we actively contribute to shaping business strategies and participate in crucial decision-making processes.

Given the uncertainties surrounding interpretation of laws in Thailand, risk management will become a critical focus for general counsel. It will be our responsibility to anticipate potential legal risks, develop effective risk mitigation strategies, and ensure compliance with evolving laws and regulations.

What are some of the main trends impacting the industry sector you work in in Thailand?

I have noticed a significant shift towards digitalisation and automation within the shipping industry. It is exciting to see technologies like blockchain, Internet of Things, artificial intelligence, and robotics being adopted to streamline operations, enhance efficiency, and bring greater transparency to supply chains. Embracing these advancements can help our industry which has a long and rich history, to stay competitive and adapt to the evolving digital landscape.

Environmental sustainability has become a major focus in the shipping industry, and I find it inspiring. I have witnessed a growing emphasis on reducing greenhouse gas emissions, adopting cleaner fuels, and implementing ecofriendly practices to minimise the ecological impact of our operations. As a legal professional in the shipping industry, I understand the importance of complying with international environmental regulations, such as the International Maritime Organization’s sulphur cap regulations, Energy Efficiency Existing Index and Carbon Intensity Indicator.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

In the dynamic landscape of the modern in-house industry, we, as in-house legal teams, must acquire and refine our skills to meet the evolving demands of our roles. As we enter the next decade, there are a few skills that I believe will be essential for our success:

Business Acumen: I recognise the importance of developing a deep understanding of our organisation’s industry, business model, and strategic objectives. By aligning our legal advice with the business goals, we can provide more impactful and tailored solutions that truly contribute to our company’s success.

Agility and Adaptability: In the face of changing legal and business environments, our ability to adapt quickly is crucial. As the leader of the in-house legal team, I believe we should foster agile thinking, remain adaptable in our approach, and proactively anticipate and address legal and other connected challenges that may arise from new technologies, regulatory changes, or global developments.

Sirasa Supawasin - Thailand 2024

Director legal | Precious Shipping

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