eOasis is Rajah & Tann Asia’s legal publications portal, where you can view updates on the latest key legal and regulatory developments in Asia, prepared from a practitioner's viewpoint.

What's New on eOASIS

Mareva Injunctions in Aid of Foreign Court Proceedings
In China Medical Technologies, Inc (in liquidation) and another v Wu Xiaodong and another [2018] SGHC 178, the Singapore High Court considered the court's power to grant a Mareva injunction in aid of foreign proceedings. The Court also laid out the threshold requirements for when the Court's power to grant such an injunction would arise, and the factors to be considered in deciding whether to grant the injunction. The Plaintiffs here managed to obtain a Mareva injunction, and were successfully represented by Kelvin Poon, Nigel Pereira and Chew Xiang of Rajah & Tann Singapore LLP.
21 Aug 2018 | Singapore
Land Law – Indefeasibility : Meaning of 'good faith'

In Peninsular Malaysia, the law governing land matters is embodied in the National Land Code 1965 ("NLC"). Section 340 of the NLC deals with the indefeasibility of a registered title to and interest in land. Section 340(2) of the NLC sets out the circumstances under which a registered title to or interest in land can be rendered defeasible and set aside. Section 340(3) of the NLC provides that a subsequent registered title to or interest in land – which is acquired from a preceding owner of registered title or holder of registered interest who gets onto the register by means of one or more of the vitiating methods as specified in Section 340(2) of the NLC – shall be protected if the subsequent registered title to or interest in land is acquired 'in good faith and for valuable consideration' (pursuant to the proviso thereto). Therefore, it is crucial to understand what is meant by ‘good faith’ in the proviso to Section 340(3) of the NLC. 

17 Aug 2018 | Malaysia
Bubble Yet To Burst: Chatime vs Tealive, Round 2

On 16 July 2018, the Chatime-Tealive battle reached the apex court of Malaysia, the Federal Court. The Federal Court granted an application to stay the Court of Appeal order dated 27 June 2018, which had granted a prohibitory injunction against Tealive – in effect requiring all Tealive stores to close down.

In order to understand what the Federal Court’s decision means for this dispute, and what will happen next, we travel back in time to late 2016, when trouble between both sides first started to brew.

15 Aug 2018 | Malaysia
The Validity of ‘Floating’ Choice of Law Clauses and Jurisdiction Clauses
In cross-border commercial disputes, choice of law clauses and jurisdiction clauses are especially relevant, as they bear significant weight in determining the issue of jurisdiction. Shanghai Turbo Enterprises Ltd v Liu Ming [2018] SGHC 172 marks the first instance where the Singapore High Court had to consider the validity of ‘floating’ choice of law clauses and jurisdiction clauses, whereby the proper law or jurisdiction is not determined until a subsequent event. The Defendant in this case was successfully represented before the High Court by Toh Kian Sing S.C., Jared Kok and Chen Zhida of Rajah & Tann Singapore LLP.
14 Aug 2018 | Singapore
SIC Consults on Amendments to Clarify Application of Take-Over Code to Companies with Dual Class Share Structures
On 26 June 2018, the Singapore Exchange announced a new listing framework (“Framework”) for issuers with dual class share (“DCS”) structures. The introduction of the Framework has implications on the requirements of the Singapore Code on Take-overs and Mergers (“Code”), in particular, the thresholds for triggering a mandatory offer, and what the ratio of offer values between MV shares and OV shares should be in the event of a take-over or merger transaction.

The Securities Industry Council (“SIC”) is therefore consulting on proposed amendments to the Code to take into account the introduction of the Framework.
14 Aug 2018 | Singapore
Personal Data Protection Update: Public Consultation Paper No.1/2018 – The Implementation of Data Breach Notification

We wish to bring to your attention a Public Consultation Paper (No.1/2018) entitled “The Implementation of Data Breach Notification” (the “DBN Public Consultation Paper”), which was recently published by the Personal Data Protection Commissioner (the “Commissioner”) on the official website of the Personal Data Protection Department. The DBN Public Consultation Paper proposes the introduction of a data breach notification (DBN) mechanism in Malaysia, wherein data users will be required to notify the relevant authorities and affected parties on the occurrence of a data breach within their respective organizations.

In this update, we provide you with a summary of the DBN Public Consultation Paper, address its proposed implementation mechanism, the objectives behind the introduction of DBN, and the specific elements that are proposed to be included in a DBN. The DBN Public Consultation Paper is currently in its public consultation stage, and the Commissioner has requested for feedback and suggestions from the public to be submitted on or before 21 August 2018.

14 Aug 2018 | Malaysia
MAS Issues Revised Code of Corporate Governance
On 6 August 2018, the Corporate Governance Council ("Council") submitted its final recommendations on revisions to the Code of Corporate Governance ("Code") to the Monetary Authority of Singapore ("MAS"). The recommendations took into account feedback received after a public consultation in January 2018.

MAS has accepted all the Council's recommendations and has issued the revised Code. Singapore Exchange has also reviewed the Council's recommendations and has made amendments to the Listing Rules.

The revised Code will take effect for companies in respect of annual reports relating to financial years commencing 1 January 2019 onwards.

The revised Listing Rules will also take effect on 1 January 2019 except for revisions relating to the nine-year tenure for independent directors and the requirement for independent directors to comprise at least one-third of the board, which will take effect on 1 January 2022.
10 Aug 2018 | Singapore
Court of Appeal Issues Novel Decision on Non-Traditional Assessment of Damages
While damages for breach of contract are traditionally assessed on the basis of compensating the claimant for their loss, alternative heads of damages have developed in English common law. In Turf Club Auto Emporium Pte Ltd v Yeo Boong Hua [2018] SGCA, the Singapore Court of Appeal had the opportunity to consider these novel heads of damages, issuing its first decision on Wrotham Park damages, which are based on formulating a hypothetical bargain between the parties. The 1st to 4th Appellants were represented by Kelvin Poon, Kevin Tan and Alyssa Leong of Rajah & Tann Singapore LLP, who successfully persuaded the Court against awarding Wrotham Park damages on the facts of the case.
10 Aug 2018 | Singapore