Multiferroics are typically perovskite transition metal oxides and present an interesting and potentially very important class of materials with coexisting ferroelectric and magnetic order. The coupling between their order parameters offers the unique opportunity to manipulate the magnetic state through the application of electric fields and tune ferroelectricity by a magnetic field. Increasing theoretical and experimental effort aims at unraveling the mechanism responsible for the extraordinary effect of mutliferroicity and the discovery of novel materials with improved functionality. Multiferroic structures in bulk form are already being explored for high-sensitivity field sensors and electrically tunable microwave devices and oscillators. Thin films on the other hand, can be useful for magnetoelectronic devices including low dimensional spintronic devices with electric field tunable functions. The 1st Asia Pacific Center for Theoretical Physics (APCTP) Workshop on Multiferroics in December of 2008 stimulated a comprehensive discussion on new developments in the field of science and technology of these materials. Following successful advances in the field, the workshop has become a regular event where both recent results and new directions are being discussed. The Nanyang Technological University and APCTP will be jointly organising the 5th Workshop of the series from 22 to 24 May 2013.