Instruction No. 008/25 on the Implementation of Licence for Special Employees in Casino Establishments sets out obligations for casino owners and operators on Special Employee licences.
Notification No.009/25 on Lawful Casino Operation in the Kingdom of Cambodia sets out obligations to be observed by casino operators .
Notification on Lawful Casino Operation in the Kingdom of Cambodia Read More »
Dewan Negara passed the Cross-Border Insolvency Bill 2025, adopting the UNCITRAL Model Law on Cross-Border Insolvency.
News Alert: Dewan Negara Passes Cross-Border Insolvency Bill 2025 Read More »
The Singapore International Arbitration Centre (“SIAC”) launched the SIAC Restructuring and Insolvency Arbitration Protocol on 26 August 2025 to reconcile the insolvency and arbitration regimes.
Malaysia’s Cross-Border Insolvency Bill 2025 marks a significant advancement in aligning the country’s insolvency framework with international standards
Malaysia’s Cross-Border Insolvency Bill 101: A Practical Guide Read More »
The timelines for climate reporting are extended as follows: (1) introducing tiered reporting timelines for issuers listed on the Singapore Exchange Securities Trading Limited (“listed issuers”) from the financial year (“FY”) 2025; and (2) implementing reporting timelines for large non-listed companies limited by shares with annual revenue of at least S$1 billion and total assets of at least S$500 million from FY2030 (instead of FY2027).
The India-Singapore Mutual Recognition Agreement on Authorised Economic Operators takes effect from 1 September 2025 to enhance clearance for exports.
The Ministry of Trade and Industry is consulting on the Bangladesh-Singapore Free Trade Agreement to support trading with or investing into Bangladesh.
IPOS announced a series of initiatives to help enterprises leverage intellectual property and intangible assets.
This update covers the key recent consumer protection enforcement and regulatory developments in Singapore.
Consumer Protection Enforcement and Regulatory Updates in Singapore Read More »
The Personal Data Protection Department (or Jabatan Perlindungan Data Peribadi) has issued a public consultation paper inviting feedback on the proposed amendments to the Personal Data Protection Regulations 2013.
Singapore has launched a new standard “SS 715:2025: Energy Efficiency of Data Centre IT Equipment” to support data centre operators and users to deploy energy efficient IT equipment.
Singapore Launches IT Energy Efficiency Standard for Data Centres Read More »
On 19 August 2025, Singapore signed its first Implementation Agreement on carbon credits collaboration under Article 6 of the Paris Agreement with an ASEAN country, Thailand.
Singapore and Thailand Sign Implementation Agreement on Article 6 Carbon Credits Read More »
The Malaysian Communications and Multimedia Commission has recently issued a public consultation paper seeking feedback on its proposed regulatory framework for unsolicited commercial electronic messages, more commonly known as spam messages.
On 7 August 2025, Regulation No. 27 of 2025 was issued to implement Government Regulation No. 56 of 2021 on Royalty Management over Copyrighted Songs and/or Music.
Regulatory Update: Royalty Management in Indonesia’s Music Industry Read More »
On 19 August 2025, the Court of Appeal delivered a landmark ruling in the case of Heidy Quah Gaik Li v The Government of Malaysia. The presiding COA panel unanimously held that the prohibition against content that is ‘offensive … with the intention to annoy’ under section 233(1)(a) of the Communications and Multimedia Act 1998, is unconstitutional.
Bank Negara Malaysia is seeking public feedback on the discussion paper it issued outlining its proposed approach and views on the development and adoption of artificial intelligence (AI) in the financial sector.
The Equities Market Review Group has conducted a comprehensive review of Singapore’s equities market to enhance corporate governance and attract investors.
Enhancing Governance: Reviewing CG Code on Culture, Board Effectiveness & AI Risk Read More »
Indonesia has clarified the income tax and value-added tax (VAT) treatments for crypto asset transactions through Minister of Finance Regulation No. 50 of 2025 on income tax and VAT treatments of crypto asset transactions.
New Income Tax and VAT Rules for Crypto Transactions in Indonesia Read More »
The Cyber Security Agency of Singapore has issued advisories on protecting individuals and organisations from data breaches, providing guidance on the common causes of data breach, preventive measures to take, and how to respond to a data breach. In particular, the advisory on “Protecting Your Organisation from Data Breaches” (“Organisation Advisory”) sets out cybersecurity measures that organisations are recommended to adopt to secure their infrastructure and systems, as well as guidance on developing a data breach response plan
How to Protect Your Organisation from Data Breaches Read More »
On 11 August 2025, the Ministry of Manpower announced that the Government had accepted the Tripartite Cluster for Retail’s recommendations on the Retail Progressive Wage Model.
The Ministry of Digital Development and Information has conducted a public consultation on proposed amendments to the Public Sector (Governance) Act 2018.
The Personal Data Protection Commissioner has recently issued three additional guidelines aimed at clarifying the expected competencies, training standards, and professional development pathways for appointed data protection officers (DPOs) under the Personal Data Protection Act (PDPA).
As discussed in our previous client alerts, Law No. 27 of 2022 on Personal Data Protection has raised questions about when data controllers must appoint a Data Protection Officer or Pejabat/Petugas Pelindungan Data Pribadi (in Bahasa Indonesia).
On 30 July 2025, the National Bank of Cambodia issued an Instruction on Relief Measures to Alleviate the Burden of Citizens Affected by the Cambodia-Thailand Border Conflict (“Instruction”). This action was taken in response to an appeal by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia and reflects a spirit of solidarity and humanitarian concern aimed at easing the hardship faced by soldiers actively serving in the battlefield as well as citizens impacted by the ongoing border conflict.
This Update highlights the key features of the Instruction.
On 4 August 2025, the Ministry of Manpower announced the formation of a Tripartite Workgroup to develop recommendations for a review of the Employment Act.
Tripartite Workgroup Formed to Develop Recommendations for Review of Employment Act Read More »
The Singapore Economic Resilience Taskforce has announced the Economic Strategy Review to develop a new blueprint for Singapore’s businesses and workers.
On Friday, 1 August 2025, the Office of the Personal Data Protection Committee held a press conference to announce its proactive enforcement measures under the Personal Data Protection Act B.E. 2562 (2019).
On 18 July 2025, the Ministry of Economy and Finance issued Prakas No. 496 on Capital Gains Tax (“Prakas”), which aims to establish the rules and procedures for managing the collection of capital gains tax (“CGT”) of 20% of the capital gains from both resident and non-resident taxpayers.
Under this Prakas, resident taxpayers are subject to CGT on capital gains realised from the sale/transfer of capital assets located in Cambodia and overseas. In contrast, non-resident taxpayers are subject to CGT solely on capital gains realised from the sale/transfer of capital assets located in Cambodia. This Update will highlight the key features of the Prakas.
The Malaysian Communications and Multimedia Commission has issued a public consultation paper to gather views from key stakeholders on the Proposed Regulatory Framework on Retention, Preservation and Disclosure of Communications Data for Investigation Purposes, which aims to enhance law enforcement agencies’ investigative capabilities, and provide clear legal and operational guidance for service providers while protecting individual privacy through defined safeguards and due process.
In order to refine the enhanced regulatory risk-based capital framework for insurers in Singapore, including the group capital framework applicable to Designated Financial Holding Companies (Licensed Insurer)
The Cross-Border Insolvency Bill 2025 (“Bill”) passed its first reading on 28 July 2025 in the Dewan Rakyat. The Bill has since passed its second and third reading in Parliament on 29 July 2025. The legislation aims to align Malaysia with the UNCITRAL Model Law on Cross-Border Insolvency, establishing a clear legal framework for managing multi-jurisdictional corporate insolvency cases.
On 28 July 2025, the Association of Banks in Singapore launched two new electronic payment solutions – electronic deferred payment (EDP) and EDP+ – to support the transition from cheques to e-payments.
Launch of Electronic Deferred Payment Solution to Transit to E-payments Read More »
The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority are seeking feedback on its proposals to amend various ACRA-administered legislation.
The Ministry of Law has issued its response to feedback received from its earlier public consultation on the new framework for remote witnessing and electronic signing of statutory declarations, indicating that it will be proceeding with the proposed framework.
The second quarter of 2025 continues to see a notable uptick in competition and consumer protection activity across Southeast Asia.
Regional Competition Bites Q2 2025 Read More »
On 23 July 2025, Climate Impact X announced that it is partnering with MSCI Inc., a leading global investment intelligence service provider, to distribute its carbon trade database through MSCI’s Carbon Markets suite, offering market participants greater access to high-quality pricing insights and transaction-level visibility.
CIX Collaborates with MSCI to Scale Global Access to Carbon Market Intelligence Read More »
Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) has issued OJK Regulation No. 9 of 2025 on the Dematerialisation of Equity Securities and Management of Unclaimed Assets in the Capital Market, which became effective on 6 May 2025.
In Continental Shipping Line Pte Ltd v Jonathan John Shipping Ltd [2025] SGCA 36, the Singapore Court of Appeal discharged a worldwide Mareva injunction, highlighting that Mareva injunctions, which freeze the assets and hamper the operations of the counter-party, are draconian in effect and often described as one of the “nuclear weapons” of civil litigation.
Mareva Injunctions: What Constitutes Risk of Dissipation and Justified Dealings? Read More »
Shipping and international trade have been at the forefront of global attention in the first half of 2025, particularly amidst the uncertainty arising from the announcement of tariffs to be imposed by the United States of America against a wide swath of nations (including those located in the Southeast Asian region), a dramatic hike in fees to be imposed against Chinese-owned or operated vessels, and reciprocal actions proposed to be taken by a number of governments
Regional Shipping Update 1H 2025 Read More »
To improve the collection of value-added tax (“VAT”) from cross-border digital transactions, the Indonesian government has introduced Presidential Regulation No. 68 of 2025 (“Regulation”).
On 15 July 2025, the Monetary Authority of Singapore released the Consultation Paper on Proposed Amendments to Regulatory Framework for Large Exposures of Singapore-incorporated Merchant Banks and Singapore-incorporated Banks.
The Monetary Authority of Singapore is seeking feedback on proposals to enhance the requirements for the Product Highlights Sheet (“PHS”) and to streamline the framework for complex products
On 12 July 2025, Singapore and the United Kingdom announced a collaboration to drive clean energy transition and advance the development of sustainable infrastructure across Southeast Asia.
Where a party disagrees with an arbitral tribunal’s finding as to the seat of arbitration, how may it contest the
On 3 July 2025, the Ministry of Finance (MOF) announced changes to the Seller’s Stamp Duty (SSD) regime for residential properties.
From 19 May 2025 to 19 June 2025, the Health Sciences Authority (“HSA“) conducted a public consultation exercise to seek
Singapore and the European Free Trade Association States have successfully concluded negotiations on the EFTA-Singapore Digital Economy Agreement on 10 July 2025.
Vietnam has recently introduced a major legislative update on beneficial ownership under the Amended Law on Enterprises 2025. This is accompanied by the enactment of Decree 168/2025/ND-CP on business registration which replaces Decree 01/2021/ND-CP on business registration, and Circular 68/2025/TT-BTC on business registration standard forms.
The Monetary Authority of Singapore (“MAS”) recently revised various anti-money laundering and countering the financing of terrorism (“AML/CFT”) Notices and Guidelines applicable to financial institutions (“FIs”) and variable capital companies (“VCCs”)
The protection of confidential information continues to be a thorny issue for employers, particularly in the modern context where such information is generally digitally stored, requiring both contractual and data protection.
In light of an increased focus on the risks of money laundering, terrorism financing and proliferation financing, the real estate industry’s framework for anti-money laundering / counter terrorist-financing / counter proliferation-financing (“AML/CTF/CPF”) has received a slate of updates
On 4 July 2025, the Ministry of Manpower announced the formation of a trilateral group to address recent concerns raised by platform workers and platform work associations.
A performance bond is a common requirement in construction projects and can be made payable either upon demand or upon the fulfilment of certain conditions.
Drafting a Performance Bond – On-Demand or Indemnity? Read More »
The Securities Commission Malaysia has released a public consultation paper proposing significant amendments to the Guidelines on Recognised Markets, with concentrated reforms focusing on the governance and operations of Digital Asset Exchanges in Malaysia.
On 3 July 2025, the Monetary Authority of Singapore published a Report on the Use of Tokenised Bank Liabilities for Transaction Banking.
MAS Publishes Report on Use of Tokenised Bank Liabilities to Enhance Transaction Banking Read More »
The Ministry of Finance is conducting a public consultation on the proposed Finance (Income Taxes) Bill (“Bill”), which seeks, among others, to make the following legislative amendments
On 20 June 2025, the General Department of Taxation (“GDT”) issued Instruction No. 19116 GDT on Tax Obligation for Members of the Board of Directors or Company Directors (“Instruction”). This Instruction reaffirms the obligation of Tax on Salary and Withholding Tax for resident and non-resident employees. GDT further urges all directors, managers, or owners of all enterprises to thoroughly examine and effectively implement this Instruction from the date of signing.
This Update sets out a high-level summary of the key features outlined under this Instruction.
Instruction on Tax Obligation for Members of the Board of Directors or Company Directors Read More »
On 25 June 2024, the Government of Vietnam issued Decree No. 69/2024/ND-CP on electronic identification and authentication (“Decree 69”), which repealed Decree No. 59/2022/ND-CP. A key transitional provision under Article 40.4 of Decree 69 stipulates that from 1 July 2025, accounts created via the National Public Service Portal or ministerial/provincial administrative platforms for enterprises will no longer be valid.
Mandatory Use of eID Accounts for Enterprises to Access Public Services from 1 July 2025 Read More »
On 16 June 2025, the Ministry of Land Management, Urban Planning and Construction issued Instruction No. 001 on the Building of Telecommunications Infrastructure in Towns, Residential Areas, Borey, Co-Owned Buildings, Commercial Buildings, Shopping Malls, Industrial Areas, Special Economic Zones, and Other Designated Areas or Constructions (“Instruction”). In line with the 2015 Telecommunications Law and 2019 Construction Law, this Instruction aims to advise (i) construction owners, (ii) developers of boreys, and (iii) investors of industrial areas, special economic zones, tourism resorts, or other designated areas, to ensure that telecommunications infrastructure therein is efficient, modern, safe, environmentally friendly, and capable of supporting socio-economic development and high-quality public services.
In this Update, we highlight some of the key features of the Instruction.
The Competition (Amendment) Act 2025 (“Amendment Act“), which was passed in Parliament on 8 April 2025, came into operation from 1 July
The Protection from Scams Act 2025 (“Act“) came into effect on 1 July 2025. The Act enables the Police to better
Protection from Scams Act in Force from 1 July 2025 Read More »
On 1 July 2025, the Monetary Authority of Singapore issued the Consultation Paper on Proposed Framework for Ex-post Resolution Levies for Banking Sector to obtain feedback on the proposed framework for imposing ex-post levies on banks, merchant banks and finance companies to recover the costs of resolving a distressed Bank under Division 10 of Part 8 of the Financial Services and Markets Act 2022.
Feedback Sought on Proposed Framework for Ex-post Resolution Levies for Banking Sector Read More »
Singapore has introduced three new initiatives to create a trusted ecosystem for the safe and responsible deployment of technologies, particularly artificial intelligence (AI).
On 26 June 2025, the National Assembly approved the long-awaited Law on Personal Data Protection (“PDP Law”). The PDP Law, which comes into operation on 1 January 2026, is the first formal law dedicated specifically for personal data protection, elevating the subject beyond just a government decree (under Decree 13/2023/ND-CP on protection of personal data).
New Law on Personal Data Protection Comes into Operation on 1 January 2026 Read More »
On 25 June 2025, the Ministry of Education and Training of Vietnam released a draft amendment to the Law on Higher Education for public consultation. The public consultation runs until 16 July 2025.
On 27 June 2025, Vietnam’s National Assembly officially passed the resolution on the development of an International Financial Centre (“Resolution”), with over 93.5% of deputies voting in favour of its establishment. The Resolution takes effect from 1 September 2025.
On 30 May 2025, the Non-Bank Financial Services Authority issued Prakas No. 046 on the Issuance of Infrastructure Bonds (“Prakas”). This Prakas sets out conditions and procedure for the issuance of infrastructure bonds, as well as further obligations following the issuance, with the aim of ensuring effectiveness, accountability, and transparency.
This Update sets out a high-level summary of key requirements and features specified in the Prakas.
Prakas on the Issuance of Infrastructure Bonds Read More »
The National Climate Change Secretariat (NCCS), the Ministry of Trade and Industry (MTI), and Enterprise Singapore has jointly issued a Draft Voluntary Carbon Market Guidance (“Guidance”) to guide companies on how to determine a high-quality carbon credit and how to voluntarily use carbon credits as part of a credible decarbonisation plan.
Feedback Sought for Draft Voluntary Carbon Market Guidance by 20 July 2025 Read More »
The Royal Government of Cambodia adopted Sub-Decree No. 139 ANKr.BK on the Implementation of Law on Investment (“Sub-Decree 139”) on 26 June 2023. Sub-Decree 139 covers investment projects registration, obligations, incentives, after-care services, and acquisition/sale or merger/nullification of the projects, with ten annexes including a negative list of ineligible activities (“Negative List”).
On 6 June 2025, Sub-Decree No. 86 ANKr.BK (“Sub-Decree 86”) was issued, amending the Negative List to include the manufacturing and/or assembly or installation of electronic cigarettes and other similar devices. This Update sets out a high-level summary of the key features outlined in Sub-Decree 86.
Sub-Decree on the Amendment to the Negative List of Investment Activities Read More »
The Ministry of Law (“MinLaw“) has issued a public consultation on proposed amendments to the Debt Repayment Scheme (“DRS“) under
MinLaw Consults on Legislative Changes to Prevent Abuse of Debt Repayment Scheme Read More »
To mark the 95th anniversary of the Communist Party of Vietnam on 3 February 2025, General Secretary To Lam published “Rạng rỡ Việt Nam” (Radiant Vietnam). The principles outlined in “Rạng rỡ Việt Nam” are at the core of Vietnam’s 2025 reforms, which seek to streamline governance and legal frameworks for enhanced economic growth and global integration. The new chapter of governance in Vietnam takes effect from 1 July 2025.
Vietnam’s New Era of Governance: Key Reforms Effective 1 July 2025 Read More »
On 25 June 2025, the Monetary Authority of Singapore (“MAS“) and the Association of Banks in Singapore (“ABS“) jointly announced the incorporation
The Personal Data Protection Commission (“PDPC“) and Cyber Security Agency of Singapore (“CSA“) have issued a joint advisory to advise
The Ministry of Finance of Vietnam has released a draft decree proposing amendments to Decree No. 31/2021/ND-CP, which guides the implementation of the existing Law on Investment of Vietnam.
On 17 June 2025, the General Department of Taxation (“GDT”) issued Instruction No. 18574 GDT on Tax Obligation for Share Premium (“Instruction”). This Instruction reaffirms the principle of taxable income and provides clarification on the share premium classification for tax purposes. GDT urges all self-declared enterprise owners to thoroughly examine and effectively implement this Instruction from the date of signing.
In this Update, we set out a summary of the key points outlined under the Instruction.
Instruction on Tax Obligation for Share Premium Read More »
The right to claim “constructive dismissal” refers to the right of an employee to terminate his contract if the employer has committed a breach that goes to the “root” or foundation of the contract, or if the employer demonstrated an intention to no longer be bound by the contract (this is known as the “contract test”).
Recent public attention and growing public concern over improperly labelled non-halal food and beverage products in Indonesia have underscored the serious legal risks businesses face when they fail to clearly disclose non-halal content.
Label It or Be Liable: The Legal Duty to Declare Non-Halal Products Read More »
At the ATxSummit 2025, Singapore announced a series of global initiatives aimed at strengthening Singapore’s AI ecosystem and accelerating responsible AI adoption.
Singapore Launches New Global AI Initiatives at ATxSummit 2025 Read More »
In May 2025, the Minister of Finance issued Minister of Finance Regulation No. 34 of 2025 on the Amendment of Export and Import Provisions on Goods carried by Passengers and Transportation Crews. This regulation amends Minister of Finance Regulation No. 203 of 2017.
Updates on Import and Export Rules Under Minister of Finance Regulation 34/2025 Read More »
As part of Cambodia’s broader effort to establish a comprehensive national policy framework for the ethical adoption, development and governance of artificial intelligence (“AI”) technology, the Ministry of Post and Telecommunication (“MPTC”) has been working on the Draft National AI Strategy, which aims to help Cambodia achieve its short-term target of becoming a skilful adopter of AI and the long-term goal of participating in the AI development market.
On 11 June 2025, MPTC issued Announcement No. 1497PT to provide an update on the progress of the preparation of the Draft National AI Strategy and to call for input, comments and feedback from all stakeholders. In this Update, we highlight some of the key features of the announcement: (i) developments in preparation; (ii) consultation timeline; and (iii) procedures for submitting input and feedback.
On 20 June 2025, Part 3 and sections 25 and 26 of the Mutual Assistance in Criminal Matters (Amendment) and Other
On 13 June 2025, Singapore and Indonesia signed three Memoranda of Understanding (“MOUs“) on Cross-Border Electricity Trade (“CBET“), Carbon Capture
On 14 June 2025, the National Assembly of Vietnam passed the amended Law on Corporate Income Tax with an approval rate of approximately 94.56%.
The Guide to Getting Started with Anonymisation (“Guide“) was launched at the 63rd Asia Pacific Privacy Authorities (“APPA“) Forum on
On 6 May 2025, the Ministry of Environment issued Prakas No. 3591.0525 on the Classification of Development Projects for Environmental Impact Assessment (“Prakas”). This Prakas nullifies Prakas No. 021 on the classification of environmental impact assessments (“EIAs”) for development projects dated 3 February 2020 and redefines the classification of EIAs for development projects, aiming to facilitate and guide the project owners in effectively implementing EIA procedures in Cambodia.
This Update sets out a summary of the key points outlined under the Prakas.
Prakas on Classification of Development Projects for Environmental Impact Assessment Read More »
With effect from 30 June 2025, Part 9 of the Financial Services and Markets Act 2022 will take effect to introduce a new class of financial institutions, namely digital token service providers (“DTSPs”).
On 9 June 2025, Singapore Customs issued Circular No: 06/2025 (“Circular No. 6”), which reminds all traders and declaring agents to accurately declare the “Country/Region of Origin” field in Singapore’s import, export and transhipment permit applications.
Singapore Customs Reinforces Trade Compliance and Declaration of Country of Origin Read More »
The Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024 (“CLLPMA”) will come into force on 16 June 2025.
On 20 May 2025, Singapore and India signed a Mutual Recognition Arrangement (“MRA”) of Authorised Economic Operator (“AEO”) programmes (“Singapore-India MRA”), marking a key milestone in the facilitation of bilateral trade between both countries.
The Singapore-India MRA will enable certified AEO companies in both countries to benefit from expedited customs clearance, with reduced documentation checks and cargo inspections when exporting goods bilaterally.
This Update delves into greater detail on the key benefits and implications of the Singapore-India MRA for businesses.
From an academic perspective, the fundamental principles of Vietnamese law can be clearly presented and analysed based on the Constitution and foundational statutes. However, in judicial practice and law enforcement, the issue is far more complex and cannot be reduced to abstract theory. Identifying and invoking a specific “fundamental principle” requires more precise guidance, especially through case law and official legal interpretations.
On 26 May 2025, the Commercial Gambling Management Commission of Cambodia issued Instruction No. 005.25 on Management of Security and Order in Gambling Sector (“Instruction”). The Instruction aims to enhance security and maintain order within the gambling industry, while ensuring compliance with applicable laws and regulations.
This Update sets out a high-level summary of the key requirements outlined under the Instruction.
Instruction on Management of Security and Order in Gambling Sector Read More »
On 22 May 2025, the Ministry of Land Management, Urban Planning and Construction (“MLMUPC”) issued Circular No. 001 on the Implementation of Procedures for the Registration of Private Units within Co-Owned Buildings Constructed Prior to 1979 and to 19 December 1997 (“Circular”). This Circular serves as a supplement to Prakas No. 050, dated 19 July 2024, and is intended to safeguard the legal ownership rights of private unit owners in such buildings, while also streamlining the associated formalities and administrative processes for MLMUPC officials.
This Update sets out a high-level summary of the key requirements outlined under the Circular.
Whistleblowing has become a key element of modern corporate governance, globally recognised as a critical mechanism for promoting integrity, transparency, and accountability within organisations.
The Whistleblowing System in Thailand: Legal Context and Practical Implications Read More »
An amalgamation or reconstruction of companies under sections 366 and 370 of the Companies Act 2016 is a common tool for corporate restructuring in Malaysia.
This Update explores the policy and legal framework underpinning Vietnam’s ongoing legal and judicial reform. This legal and judicial reform is anchored on Resolution No. 66-NQ/TW, a pivotal directive from the Politburo signed by General Secretary To Lam on 30 April 2025.
Vietnam’s New Era and Ongoing Legal and Judicial Reform Read More »
In a significant regulatory milestone, Malaysia has recently introduced a new suite of legislations aimed at institutionalising energy efficiency and conservation within the broader national energy transition agenda.
Insights into Malaysia’s Energy Efficiency and Conservation Framework Read More »
The Securities Industry Council (SIC) is conducting a consultation exercise on its proposals in the “Consultation Paper on Revision of the Singapore Code on Take-overs and Mergers” that was issued on 5 May 2025.
Rajah & Tann LCT Lawyers has recently submitted its recommendations and comments on the draft amendments to the Rules of Arbitration of the Vietnam International Arbitration Centre.
The Monetary Authority of Singapore announced on 29 May 2025 that the Corporate Governance Advisory Committee (“CGAC”) will review the Code of Corporate Governance (“CG Code”) to build on established good practices in corporate governance and disclosures among listed companies.
The rapid rise of artificial intelligence (“AI”) has meant that more countries are establishing their own AI governance frameworks to encourage development while managing the associated risks.
Singapore Continues Efforts to Align International AI Governance Frameworks Read More »
On 27 May 2025, the Singapore Customs (“Customs”) published two circulars (“Circulars”) on the claiming of preferential tariff treatment.
On 18 May 2025, at a national conference to implement Resolutions No. 66-NQ/TW and No. 68-NQ/TW of the Politburo of the Communist Party of Vietnam, General Secretary To Lam highlighted four pivotal resolutions as cornerstones for ushering Vietnam into a new era of development.
Vietnam Advances Private Sector Development Policy Read More »
The AML/CFT Industry Partnership (“ACIP”), a private public partnership to collaboratively identify, assess and mitigate money laundering (“ML”) and terrorism financing (“TF”) risks facing Singapore, has published the best practices papers.
Indonesia’s Ministry of Finance recently issued a new regulation on tax audits, Minister of Finance Regulation No. 15 of 2025 on Tax Audit, effective from 14 February 2025.
A New Era of Tax Audits in Indonesia Under PMK No. 15 of 2025 Read More »
There has been a notable rebound in cartel enforcement globally. In Singapore, the Competition and Consumer Commission of Singapore (“CCCS”) has issued three Infringement Decisions involving bid-rigging conduct – a violation caught by section 34 of the Competition Act 2004, which prohibits anti-competitive agreements – over the past year.
The cases highlight the rigour of enforcement CCCS has always exercised, and go further to highlight the heightened use of technology and noting digital evidence, provide clarity on the meaning of undertakings, and alert that investigations are kick-started through complaints from various sources. In this Update, we discuss the three Infringement Decisions, highlighting salient points that businesses must be alert to and ensure compliance within the organisation when responding to calls for bids.
A Heightened Enforcement Involving Bid-rigging in Singapore Read More »
On 3 May 2025, the Pacific Alliance-Singapore Free Trade Agreement (“PASFTA”) entered into force for Singapore, Chile and Peru.
Phase 4 of the Criminal Procedure (Miscellaneous Amendments) Act 2024 (“Amendment Act”), which was passed in Parliament on 5 February 2024, came into effect on 26 May 2025.
In the Consultation Paper on Proposed Amendments to Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (“Regulations”), the Monetary Authority of Singapore (“MAS”) proposes changes to support investor demand while balancing the risk of over-leveraging by a holder of a capital markets services licence for product financing (“CMSL holder”).
On 23 May 2025, Singapore signed an Implementation Agreement on carbon credits collaboration under Article 6 of the Paris Agreement with Paraguay (“Implementation Agreement”).
Implementation Agreement on Carbon Credits Collaboration between Singapore and Paraguay Read More »
In Public Prosecutor v Zheng Jia [2025] SGHC 76, the Singapore High Court fundamentally revised the sentencing framework for offences involving a breach of a director’s statutory duty to act honestly and use reasonable diligence in the discharge of his duties
Singapore businesses face renewed challenges due to the uncertain global trade environment triggered by the “Liberation Day” tariff announcements by the United States (“U.S.”).
On 15 May 2025, the Singapore Exchange Regulation (“SGX RegCo”) and the Monetary Authority of Singapore (“MAS”) issued Consultation Papers on Streamlining of Prospectus Requirements and Broadening of Investor Outreach Channels (“MAS Consultation Paper”) and Shifting to More Disclosure- Based Regime (“SGX RegCo Consultation Paper”), respectively.
Pursuant to the Corporate Service Providers Act 2024 (Commencement) Notification 2025, the Corporate Service Providers Act 2024 (“CSP Act”) will come into force on 9 June 2025
Singapore and the European Union (“EU”) have signed the European Union-Singapore Digital Trade Agreement (“EUSDTA”) on 7 May 2025.
On 13 May 2025, the Vietnamese Government submitted to the National Assembly a draft Resolution to replace Resolution No. 35/2021/QH15 dated 13 November 2021 on piloting special mechanisms for Hai Phong.
On 8 May 2025, the Vietnamese Government issued Decree No. 100/2025/ND-CP, amending Decree No. 56/2025/ND-CP dated 3 March 2025.
Decree 100: New Mechanisms for Gas-fired Thermal Power Projects Read More »
On 15 April 2025, Vietnam’s Prime Minister approved Decision No. 768/QD-TTg, adjusting the National Power Development Plan VIII for 2021–2030, with a vision to 2050.
Decision Issued to Adjust the National Power Development Plan Read More »
The Indonesian government has issued Presidential Regulation No. 46 of 2025, effective as of 30 April 2025.
New Public Procurement Regulation Strengthens E-Purchasing and Domestic Product Use Read More »
To ensure sufficient protection for consumers regardless of their sophistication levels, the Monetary Authority of Singapore (“MAS”) is proposing to remove the existing exclusions which currently exempt financial institutions (“FIs”) in Singapore from complying with advertising requirements for financial products and services in certain cases (the “Existing Exclusions”)
In March 2025, the Parliament passed the Carbon Capture, Utilisation and Storage Bill 2025 (“CCUS Act”). The CCUS Act aims to reduce carbon dioxide emissions, mitigate the effects of climate change, and promote the development of the carbon capture, utilisation, and storage industry as a new source of economic growth.
Carbon Capture, Utilisation and Storage Bill Passed by Malaysian Parliament Read More »
The Intellectual Property Office of Singapore has issued circulars announcing new Patents and Trade Marks Acceleration programmes – the SG Patents Fast and SG Trade Marks Fast programmes.
New Patents and Trade Marks Acceleration Programmes to be Launched on 20 May 2025 Read More »
The enforcement of an arbitral award is the last and most crucial step of the arbitral process, as it enables the successful party to obtain the practical benefits of the award. It is important for parties to understand how an award may be enforced, as it varies by jurisdiction.
Enforcing and Executing Foreign Arbitral Awards in Thailand Read More »
Can a party that no longer wishes to contest Singapore court proceedings turn around and subsequently allege that it should have been served with appeal papers in those same proceedings?
The Malaysian Federal Court in the case of Asian International Arbitration Centre v One Amerin Residence Sdn Bhd & Ors And Another Appeal [2025] 3 MLRA 83 held that the Asian International Arbitration Centre (“AIAC”) is immune from judicial review of acts and decisions made by AIAC in its capacity as the domestic and statutory adjudication authority under the Construction Industry Payment & Adjudication Act 2012.
Malaysian Apex Court Confirms Immunity of Asian International Arbitration Centre Read More »
On 28 March 2025, the Malaysian Court of Appeal in the case of Republic of Zimbabwe v. Elisabeth Regina Maria Gabriele Von Pezold & Ors [unreported] unanimously upheld the decision of the Kuala Lumpur High Court to recognise and enforce a foreign arbitral award (“ICSID Arbitral Award”) rendered under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States as if the ICSID Arbitral Award is a judgment made by the Malaysian High Court.
Malaysian Court of Appeal Affirms Recognition and Enforcement of ICSID Arbitral Award Read More »
Introduction Confidential information is a key issue in the context of employment. While confidentiality obligations are often included in the
Singapore’s insolvency framework, while marked by efficiency, also contains mechanisms to delay bankruptcy proceedings for legitimate purposes.
Singapore signed its fifth and sixth Implementation Agreements on carbon credits collaboration under Article 6 of the Paris Agreement (“Article
On 21 April 2025, the Upgraded Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (“Upgraded AANZFTA Agreement”) entered into force.
On 5 May 2025, the Singapore Economic Development Board (“EDB”) and the Temasek Trust Foundation Advisors (“TTFA”), the philanthropy advisory arm of Temasek Trust, launched a donor-advised fund (“DAF”) that will mobilise capital from family offices and foundations for projects that generate high-integrity Article 6 carbon credits under EDB’s Carbon Project Development Grant (“Grant”).
Following from our previous Legal Update setting out our analysis on the latest amendments to the Personal Data Protection Act 2010 pursuant to the Personal Data Protection (Amendment) Act 2024, and our Legal Update on the launch of the Personal Data Protection Guidelines for Data Protection Officer Appointment and Mandatory Data Breach Notification, the Personal Data Protection Commissioner has just launched the Personal Data Protection Guideline on Cross Border Data Transfers.
Launch of Personal Data Protection Guideline for Cross Border Data Transfers Read More »
A fair process is foundational to the legitimacy of arbitration. Without a fair, impartial, and equal arbitral process, any party may rightly seek to set aside the resulting arbitral award.
On 12 April 2025, the Thai Government announced expanded enforcement powers of government authorities, as well as a range of new obligations for relevant business operators, in order to more effectively combat technology-related crimes.
New Regulation on Technology Crimes Read More »
Following from the general uncertainty regarding the tariffs sought to be imposed by the United States of America (“US”) on the People’s Republic of China (“China”), the US Trade Representative issued final proposals on 17 April 2025, seeking to: (i) impose fees on Chinese-owned, Chinese-operated and/or Chinese-built vessels; and (ii) instead shift towards favouring US-built, US-flagged and US-operated vessels. This marks a landmark moment for the global maritime and shipbuilding sectors.
China has responded to warn that the new fees will ultimately fail in their stated aim of revitalising the US shipbuilding industry, and will be detrimental to all parties, drive up global shipping costs, disrupt the stability of global production and supply chains, increase inflationary pressure within the US, and harm the interests of US consumers and businesses.
This Update covers the significant aspects of these proposals, including the categories of fees to be imposed across two phases, and the available exemptions. It also discusses their potential impact on various businesses (especially for container carriers, car carriers and larger tankers, such as very large crude carriers) which look to be the hardest hit by the imposition of these fees.
In its ongoing efforts to combat money laundering and terrorism financing (TPPU/TPPT, which refers to Tindak Pidana Pencucian Uang/Tindak Pidana Pendanaan Terorisme), the Indonesian government previously introduced the Minister of Law and Human Rights Regulation No. 21 of 2019 on the Procedures for the Supervision of the Implementation of the Know-Your-Beneficial-Owner Principle by Corporations.
Singapore has established a role as a regional restructuring and insolvency hub, buoyed by a strong framework for the recognition and support of foreign proceedings.
Welcome to The Recovery Brief: Legal Strategies Post-Crisis for Businesses & Communities, a dedicated resource from Rajah & Tann (Thailand) created in response to the 28 March 2025 earthquake that has significantly impacted Thailand and beyond. The Recovery Brief series aims to provide a set of practical Q&A-based responses addressing key issues arising from the 28 March 2025 earthquake.
The first quarter of 2025 has seen much upheaval in the global economic sphere.
Regional Competition Bites Q1 2025 Read More »
The Energy Commission has recently published the Guidelines on Electric Vehicle Charging System (EVCS) on 24 February 2025.
Energy Commission Issues Guidelines on Electric Vehicle Charging System (EVCS) Read More »
On 8 April 2025, Prime Minister Lawrence Wong announced the Government would establish a taskforce to (i) support businesses and
SERT Formed to Develop Strategies to Cope with US Tariff Situation for Businesses Read More »
Within the legal profession, the perception towards generative artificial intelligence (“AI“) has evolved from wariness into growing enthusiasm. As reported
The Cyber Security Agency of Singapore (“CSA“) has expanded its Cyber Essentials and Cyber Trust certification marks to include coverage
To raise industry standards and enhance consumer trust in the financial advisory industry in Singapore, the Monetary Authority of Singapore will implement the following key changes with effect from 29 December 2025.
On 27 March 2025, the Indonesian government enacted a comprehensive online child protection regulation that digital platforms should be aware of.
On 11 April 2025, the ASEAN Capital Markets Forum (“ACMF“) launched the ASEAN Simplified ESG Disclosure Guide for SMEs in
On 8 April 2025, the Monetary Authority of Singapore (“MAS”) issued its “Consultation Paper on Proposed Amendments to AML/CFT Notices and Guidelines” (“Consultation”) to seek feedback on its proposed amendments to the anti-money laundering and countering the financing of terrorism (“AML/CFT”) regime for financial institutions (“FIs”) and variable capital companies (“VCCs”).
The latest edition of the Queen Mary University of London and White & Case International Arbitration Survey 2025 continued to validate Singapore’s position as a leading seat for international arbitration, sharing the title of the most popular seat with London.
On 1 April 2025, the Transport Sector (Critical Firms) Act 2024 (“TSA”) came into operation
The Social Residential Homes Bill (“Bill“) was introduced for Second Reading in Parliament and passed on 8 April 2025. Social
On 4 March 2025, the Ministry of Labour and Vocational Training issued Prakas No. 073/25 on the Procedures for the Resolution of Individual Labour Disputes to set out new procedures governing individual dispute resolution, as well as Prakas No. 074/25 on the Procedures for Resolution of Collective Labour Disputes to set out new procedures governing collective dispute resolution.
In the following Updates, we highlight some of the key features of these Prakas.
New Prakas on the Procedures for Resolution of Collective Labour Disputes Read More »
On 4 March 2025, the Ministry of Labour and Vocational Training issued Prakas No. 073/25 on the Procedures for the Resolution of Individual Labour Disputes to set out new procedures governing individual dispute resolution, as well as Prakas No. 074/25 on the Procedures for Resolution of Collective Labour Disputes to set out new procedures governing collective dispute resolution.
In the following Updates, we highlight some of the key features of these Prakas.
New Prakas on the Procedures for the Resolution of Individual Labour Disputes Read More »
The Monetary Authority of Singapore (“MAS”) has issued a Consultation Paper seeking feedback on its proposed regulatory framework to allow retail investors to access private market investment (“PMI”) funds through authorised long-term investment funds (“LIFs”) with appropriate safeguards (“LIF Framework”).
MAS Seeks Feedback on Proposed Regulatory Framework for Retail PMI Funds Read More »
In 2022, the Ministry of Health (“MOH”) and Health Promotion Board (HPB) introduced a system of Nutri-Grade measures which imposed mandatory nutrition labels and advertising prohibitions for beverages in pre-packaged form and from automated beverage dispensers
On 10 March 2025, the Non-Bank Financial Services Authority issued a new Prakas No. 022 on Consumer Protection in Insurance Services (“Prakas 022”). Prakas 022 aims to safeguard the rights and interests of consumers of insurance services and to enhance trust between consumers and insurance institutions, including general insurance companies, life insurance companies, micro-insurance companies and insurance intermediaries.
This Update sets out a high-level summary of the key requirements outlined under Prakas 022.
Prakas on Consumer Protection in Insurance Services Read More »
The Singapore Customs and the Ministry of Trade and Industry have issued a “Joint Advisory: Export Controls on advanced semiconductor and artificial intelligence (AI) technologies”.
China’s State Council has issued an 18-article regulation on resolving intellectual property (“IP”) disputes related to foreign matters (“IP Regulation”), which will take effect on 1 May 2025.
The IP Regulation is China’s first administrative document providing for the standardised management of IP cases related to foreign matters, aiming to establish efficient and convenient resolution mechanisms and services for citizens and organisations involved in such disputes. The IP Regulation further seeks to facilitate the opening-up of China’s IP industry, providing a framework for domestic enterprises to pursue global expansion.
This Update highlights the key features of the IP Regulation.
China Issues Regulations on Resolving Foreign-Related IP Disputes Read More »
On 12 March 2025, the Ministry of Economy and Finance issued a new Prakas No. 192 on Rules and Procedures of Taxation on Trust. This Prakas applies to trustors, trustees, and beneficiaries who are resident taxpayers or non-resident taxpayers that are involved in the operation of trusts established in Cambodia, with the exception of trust structures with the legal form of a company or an enterprise.
This Update sets out a high-level summary of the key requirements outlined under this Prakas.
Prakas on Rules and Procedures of Taxation on Trust Read More »
The Competition (Amendment) Bill was introduced for First Reading in Parliament on 5 March 2025, and was introduced for Second Reading and passed on 8 April 2025.
On 7 April 2025, the Building and Construction Authority (“BCA“) announced that: Finalised Code: Following its public consultation (“Consultation“) on
The Personal Data Protection Commissioner has issued three public consultation papers on 20 March 2025 to seek feedback on these guidelines that will be issued under the Personal Data Protection Act 2010: (i) Data Protection Impact Assessment Guideline; (ii) the Data Protection by Design Guideline; and (iii) Automated Decision Making and Profiling Guideline.
Following the Government’s recent announcement on several enhancements to the Corporate Renewable Energy Supply Scheme (CRESS), the Energy Commission has recently published the revised Guidelines for Corporate Renewable Energy Supply Scheme, which came into effect on 1 March 2025.
Revised Guidelines for Corporate Renewable Energy Supply Scheme (CRESS) Read More »
In the recent case of Siemens Industry Software Inc v KB Engineering Coatings Sdn Bhd [2024] MLJU 2638, an employee’s unlicensed use of software led to allegations of vicarious liability against his employer.
The Infocomm Media Development Authority has introduced Advisory Guidelines (“AGs”) for Cloud Services and Data Centres.
The Cyber Security Agency of Singapore (“CSA“) and the Singapore Cyber Emergency Response Team (SingCERT) have published the Effective Information
CSA and SingCERT Publish Effective IT Change Management: A Guide for Organisations Read More »
Following the market’s reaction to the rising costs of compliance with the requirements under the initial Guidelines for Solar Photovoltaic Installation for Self-Consumption in Peninsular Malaysia issued on 1 January 2025, the Energy Commission has recently published the revised Guidelines for Solar Photovoltaic Installation for Self-Consumption in Peninsular Malaysia (“Updated Guidelines”) on 27 March 2025.
This update highlights the key changes introduced by the Updated Guidelines, including the introduction of additional exemptions from the requirement to install a battery energy storage system, and amendments to the threshold and quantum of the standby charge for solar photovoltaic system installations.
Welcome to The Recovery Brief: Legal Strategies Post-Crisis for Businesses & Communities, a dedicated resource from Rajah & Tann (Thailand) created in response to the 28 March 2025 earthquake that has significantly impacted Thailand and beyond. The Recovery Brief series aims to provide a set of practical Q&A-based responses addressing key issues arising from the 28 March 2025 earthquake.
On 1 April 2025, the Monetary Authority of Singapore (“MAS“) issued an Information Paper on Strengthening Advisory and Sales Processes
Recently, the Singapore courts have partially set aside two arbitral awards for, respectively, a breach of natural justice and dealing with issues outside the scope of submission to arbitration.
Lessons from the Singapore Courts in Rare Decisions to Set Aside Arbitral Awards Read More »
The Energy Conservation Act 2012 will be amended with effect from 1 December 2025, following the coming into force of the Energy Conservation (Amendment) Act 2024 aimed at introducing minimum energy efficiency standards for all existing energy systems in industrial facilities in Singapore.
Singapore has signed two separate Implementation Agreements on carbon credits collaboration under Article 6 of the Paris Agreement (“Article 6”), respectively with Bhutan on 28 February 2025 and Peru on 1 April 2025.
On 27 March 2025, the Monetary Authority of Singapore issued its “Response to Consultation on Proposed Amendments to the Capital Framework for Approved Exchanges and Approved Clearing Houses”.
The Indonesia Competition Commission (Komisi Pengawas Persaingan Usaha or KPPU) has issued its first-ever antitrust approval for a non-merger business cooperation agreement. This decision, announced in a press release on 27 February 2025, involves a joint business agreement between PT Garuda Indonesia (Persero) Tbk and Japan Airlines.
The detention of a vessel by local authorities is a fairly common occurrence in maritime law.
On 12 March 2025, Singapore and Vietnam endorsed the Joint Report on Offshore Wind Power Trade Cooperation between Vietnam and Singapore.
On 15 March 2025, the Ministry of Manpower issued Circular Letter No. M/3/HK.04/III/2025 on Provision of Religious Holiday Bonuses for 2025 for Drivers and Couriers of Application-Based Transportation Services.
On 11 March 2025, the Non-Bank Financial Services Authority issued a new Prakas No. 026 on the Requirements on Financial Soundness of Trust Companies. This Prakas sets out the requirements and procedures for the examination of financial soundness of licensed trust companies in the Kingdom of Cambodia.
This Update sets out a high-level summary of the key requirements outlined under this Prakas, including the financial requirements, reporting requirements, urgent corrective measures and sanctions.
Prakas on the Requirements on Financial Soundness of Trust Companies Read More »
Where a defendant fails to respond to a claim against him, the court would ordinarily grant the claimant a judgment in default.
Court Sets Out Principles Behind Setting Aside of Default Judgments Read More »
With over three decades of history, the Thai Arbitration Institute (“TAI”) is one of Thailand’s leading arbitral institutions, having administered disputes totalling over THB 1 trillion as of 2020. Known for its neutrality and independence, TAI operates under the Office of the Judiciary with government funding, enabling it to provide administrative services without charging institutional fees – offering significant cost savings to parties.
Thailand, while neither a contracting state to the International Convention Relating to the Arrest of Sea-Going Ships (Brussels, 10 May 1952) nor the International Convention on Arrest of Ships (Geneva, 12 March 1999), has incorporated international maritime law principles into its Arrest of Ship Act B.E. 2534 (1991).
Ship Arrest in Thailand: Options for Foreign Maritime Creditors without Thai Domicile Read More »
On 15 March 2025, the Consumers Association of Singapore and the Competition and Consumer Commission of Singapore (“CCCS”) announced that they are collaborating with major supermarket operators to pilot the display of unit prices for selected grocery items.
Upcoming Unit Pricing Pilot at Major Supermarkets in Singapore Read More »
Indonesia’s financial regulator, the OJK (Otoritas Jasa Keuangan), has recently issued new rules for non-bank financial companies, including those involved in financing, infrastructure, and venture capital. These rules, outlined in OJK Regulation No. 46 of 2024 on Development and Strengthening of Financing Companies, Infrastructure Financing Companies, and Venture Capital Companies, are designed to strengthen and develop these crucial sectors.
Investing in Indonesia? Major Regulatory Update for Venture Capital Companies Read More »
The Certificate of Indonesian Citizenship (Surat Keterangan Status Kewarganegaraan Republik Indonesia or “SKSK RI”) is crucial for Indonesians living abroad. It serves as official proof of nationality, ensuring individuals can exercise their rights and access legal protections while residing abroad.
Badan Arbitrase Nasional Indonesia (“BANI”) has published its 2025 Rules and Procedures. These updated rules introduce significant changes that could impact how businesses handle dispute resolution and raise important considerations for parties involved in arbitration under BANI.
Understanding the 2025 BANI Rules: Key Changes and Their Impact Read More »
The Vietnamese government has issued a series of decrees to implement the 2024 Electricity Law (“Electricity Law”), one of which is Decree No. 56/2025/ND-CP of the Government dated 3 March 2025 elaborating the Electricity Law pertaining to power development plan, grid development strategy, investment of power projects and tendering process for selecting investors in power projects.
With effect from 20 March 2025, insurance companies will be able to introduce a copayment clause that will apply to health insurance policy renewals and new policies.
The Malaysia Competition Commission (“MyCC”) has, in early March 2025, published an Interim Report on the Market Review of the Digital Economy Ecosystem (“Interim Report”) following its latest market review exercise on the digital economy ecosystem in Malaysia. MyCC deep dived into the following four sub-sectors in the Interim Report:
Urgent Feedback Required by MyCC from Digital Economy Participants Read More »
In a claim for breach of contract for defective construction, a party may seek the “cost of cure” as the basis for damages, meaning the cost required to rectify the alleged defects.
Damages for Defective Construction – Court Determines When to Award Cost of Cure Read More »
The Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) has issued OJK Regulation No. 40 of 2024 on Information Technology Based Collective Funding Services, bringing significant changes to the peer-to-peer (P2P) lending landscape in Indonesia.
Expanded Opportunities, Stricter Rules Under OJK’s New Regulation Read More »
On 5 March 2025, the Ministry of Trade and Industry introduced the Competition (Amendment) Bill (“Bill”) for First Reading in Parliament.
Starting 1 March 2025, a new regulation, Government Regulation No. 8 of 2025, changes the rules for how natural resources exporters must manage their foreign currency earnings, known as DHE SDA (devisa hasil ekspor sumber daya alam, or foreign exchange proceeds from natural resources).
On 17 February 2025, the Ministry of Finance issued an official letter in response to inquiries from the People’s Committee of Dong Nai Province and the Dong Nai Tax Department. This letter provides critical guidance on the applicable VAT rate for transactions where a domestic enterprise sells goods to a foreign trader with a presence in Vietnam, who then directs their delivery to a third-party Vietnamese enterprise via a bonded warehouse.
New Guidance on Applicable VAT Rate for Domestic Goods Entering Bonded Warehouses Read More »
The judicial recognition of foreign insolvency proceedings is a vital issue in the increasingly global area of restructuring.
Determining the Centre of Main Interests in Recognising Foreign Insolvency Read More »
Carbon capture and storage (“CCS”) is recognised as a viable and effective solution that plays a key role in the effort to curb global warning. The Indonesian Ministry of Energy and Mineral Resources has issued MEMR Regulation No. 16 of 2024 on the Organisation of Carbon Storage in CCS Blocks, a significant development in the nation’s efforts to advance CSS.
New Regulation for CCS Blocks in Indonesia: is the Puzzle Complete? Read More »
From 11 March 2025 to 8 April 2025, the Ministry of Law held a public consultation seeking feedback on the recommendations by the Committee to Enhance Singapore’s Corporate Restructuring and Insolvency Regime.
Licensed Housing Developers purchasing residential land are subject to 40% Additional Buyer’s Stamp Duty (“ABSD”), which consists of (i) a non-remittable component (5%); and (ii) an upfront remittable component (35%).
Singapore Extends ABSD Remission Timelines Read More »
Globalisation and economic growth have led to a global increase of waste transportation across boundaries.
In SME Care Pte Ltd v Jannie Chan Siew Lee [2025] SGHC 27, the Singapore High Court held a bankrupt ex-director of a company personally liable to the company for failing to take steps to recover sums owed by third parties to the company.
Court Finds Bankrupt Ex-Director Personally Liable for Uncollected Debts of the Company Read More »
The Vietnamese government has issued a series of decrees to implement the 2024 Electricity Law. The decrees took effect from the date of their issuance, and replaced/revoked several decrees, including decrees recently issued in 2024.
Issuance of Decrees Implementing the 2024 Electricity Law Read More »
Two recent developments move Singapore closer towards becoming a sustainable, multi-fuel bunkering hub, namely: (i) the publication of a new Technical Reference 129 on Methanol Bunkering; and (ii) the methanol bunkering licenses scheme.
The Anti-Money Laundering and Other Matters (Estate Agents and Developers) Bill was introduced for First Reading in Parliament on 7 March 2025, and was introduced for Second Reading and passed on 8 April 2025.
Bill Passed in Parliament to Enhance AML/CFT Requirements for Real Estate Industry Read More »
The Ministry of Law and the Ministry of Digital Development and Information had proposed a series of measures to enhance online safety and better protect Singaporeans from harmful online content.
In DMZ v DNA [2025] SGHC 31, the Singapore High Court held that proceedings commenced by the claimant seeking review of an administrative decision made by the Singapore International Arbitration Centre (SIAC) were bound to fail.
The second half of 2024 saw much activity in the shipping and international trade industry.
Regional Shipping Update 2H 2024 Read More »
At the Artificial Intelligence Action Summit in Paris, Singapore introduced new artificial intelligence (“AI”) governance initiatives to enhance the safety of AI for Singaporeans and global citizens.
• Global AI Assurance Pilot – This is a testbed to establish global best practices around technical testing of generative AI applications.
• Joint Testing Report with Japan – This collaboration with Japan aims to make Large Language Models safer in different linguistic environments through assessing if guardrails hold up in non-English settings.
• Singapore AI Safety Red Teaming Challenge Evaluation Report – This seeks to help understand how Large Language Models perform with regard to different languages and cultures in the Asia-Pacific region, and if the safeguards hold up in these contexts.
Singapore Launches New AI Safety Initiatives at Global AI Action Summit Read More »
A trustee-manager, in the context of a business trust, actively runs the trust’s operations while safeguarding the interests of investors.
The Monetary Authority of Singapore completed its thematic inspections in 2024 to assess the governance and risk management of their commodity financing business, with a focus on lending standards and practices for the commodity trader client segment within the oil and gas sector.
On 21 February 2025, the Monetary Authority of Singapore (“MAS”) shared the first set of measures proposed by the Equities Market Review Group to enhance the competitiveness of Singapore’s equities market.
The Competition and Consumer Commission of Singapore (“CCCS”) has stepped up enforcement action against businesses that engage in unfair practices in violation of the Consumer Protection (Fair Trading) Act 2003 (“CPFTA”).
Recently, Indonesia’s shipping sector experienced a significant change with the enactment of Law No. 66 of 2024.
Following from our previous Legal Update setting out our analysis on the latest amendments to the Personal Data Protection Act 2010 pursuant to the Personal Data Protection (Amendment) Act 2024, the Personal Data Protection Commissioner has just launched two personal data protection guidelines on 25 February 2025.
On-demand unconditional performance bonds are a common feature in the construction industry – these are performance bonds that allow the beneficiary to demand payment without needing to prove that the counterparty has breached their contractual obligations.
On 16 December 2024, Bank Indonesia (“BI”) issued BI Regulation No. 9 of 2024 on the Management of Foreign Exchange Traffic, which came into force on 23 December 2024.
The Budget Statement for Budget 2025 was delivered on 18 February 2025.
Singapore Budget 2025: Onward Together for a Better Tomorrow Read More »
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) and the Association of Banks in Singapore (“ABS”) announced that two new payment solutions will be launched in mid-2025. Electronic Deferred Payment (“EDP”) will address the use cases of post-dated payments, and EDP+ will cover transactions requiring greater certainty of payment.
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) and the Association of Banks in Singapore (“ABS”) announced that two new payment solutions will be launched in mid-2025. Electronic Deferred Payment (“EDP”) will address the use cases of post-dated payments, and EDP+ will cover transactions requiring greater certainty of payment.
IMDA Issues Inaugural Social Media Services Online Safety Assessment Report Read More »
The Infocomm Media Development Authority has issued a Code of Practice for Online Safety for App Distribution Services, which takes effect from 31 March 2025.
New Code of Practice for App Distribution Services to Protect Users from Harmful Content Read More »
On 10 February 2025, the National Climate Change Secretariat (NCCS) unveiled Singapore’s 2035 emissions targets in its Second Nationally Determined Contribution (“2035 NDC”) submitted to the United Nations Framework Convention on Climate Change.
Singapore Raises Emissions Targets in 2035 to Achieve Net-Zero Emission by 2050 Read More »
On 20 December 2024, the State Administration for Market Regulation of the People’s Republic of China (“PRC”) promulgated the Implementation Measures for the Administration of Company Registration, “Implementation Measures”) to implement the new PRC Company Law and the Implementation of the Administrative System for the Registration of Registered Capital under the PRC Company Law .
China Issues Implementation Measures for the Administration of Company Registration Read More »
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) and the Association of Banks in Singapore (“ABS”) announced that two new payment solutions will be launched in mid-2025. Electronic Deferred Payment (“EDP”) will address the use cases of post-dated payments, and EDP+ will cover transactions requiring greater certainty of payment.
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) and the Association of Banks in Singapore (“ABS”) announced that two new payment solutions will be launched in mid-2025. Electronic Deferred Payment (“EDP”) will address the use cases of post-dated payments, and EDP+ will cover transactions requiring greater certainty of payment.
Bill of Lading Genuineness Check Launched to Strengthen Trade Finance Risk Mitigation Read More »
Intellectual property (“IP”) is an area of law that is in constant development. With the continually evolving nature of IP rights and the changing needs of IP enforcement, both domestic and international IP frameworks are having to update themselves to keep up with shifting practical and economic forces.
Rajah & Tann Asia Intellectual Property Newsletter 2024-2025 Read More »
Insolvency and arbitration traditionally do not mix well, as they embody somewhat contrasting legal policies.
Melding Oil and Water: SIAC Consults on Draft Insolvency Arbitration Protocol Read More »
In 2024, the ASEAN member states issued the ASEAN Guide on AI Governance and Ethics (“ASEAN AI Guide 2024”), which establishes common principles and recommends best practices on the implementation of trustworthy AI in ASEAN.
Expanded ASEAN Guide on AI Governance and Ethics Read More »
On 23 January 2025, the Ministry of Finance issued the second edition of the Singapore Green Bond Framework (January 2025) (“2025 Framework”), updating the first edition issued in June 2022.
At the end of 2024, Indonesia’s Financial Services Authority or OJK issued a new regulation aimed at giving banks more flexibility to offer a wider range of services while maintaining compliance with prudential principles.
On 20 January 2025, the Non-Bank Financial Services Authority issued Prakas No. 003 NBFSA/PrK on the Public Offering of Equity Securities of Holding Company. The Prakas establishes the requirements and procedure for the public offering of equity securities by a holding company as well as its obligations following the offering.
In this Update, we highlight some of the key features of the Prakas.
Prakas on Public Offering of Equity Securities of Holding Company Read More »
Law No. 4 of 2023 or more commonly known as the PPSK Law continues to reshape Indonesia’s financial landscape.
New Rules for Financial Conglomerates: Understanding OJK Regulation No. 30 of 2024 Read More »
On 17 December 2024, the Commercial Gambling Management Commission of Cambodia (“CGMC”) issued Notification No. 001 on the Setting Up of CGMC Office Based in Casino Premises (“Notification”).
Notification on the Establishment of CGMC Office Based in Casino Premises Read More »
The Protection from Scams Bill (“Bill”) was passed in Parliament on 7 January 2025. The Bill seeks to tackle the increasing number of scams where individuals willingly transfer monies to scammers.
Protection from Scams Bill Passed in Parliament Read More »
While the Personal Data Protection Act 2012 (“PDPA”) stipulates organisation obligations when managing personal data, the applicability of specific prohibitions and exceptions at play has little local judicial precedent.
On 9 December 2024, the Singapore International Arbitration Centre (“SIAC”) published the 7th edition of the Arbitration Rules of the Singapore International Arbitration Centre (“2025 Rules”).
New SIAC Rules, Schedule of Fees in Effect from 1 January 2025 Read More »
A new regulation governing customs and excise audit was issued by the Minister of Finance in December 2024.
New Customs and Excise Audit Regulation: Optimising the Audit Process Read More »
The Administration of Justice (Protection) (Amendment) Act 2024 (“Amendment Act”) has come into effect from 28 January 2025.
In a recent decision, the Constitutional Court clarified what qualifies as a “foreign arbitral award” under Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution.
Indonesia’s Constitutional Court Clarifies “Foreign Arbitral Award” Definition Read More »
As solar power continues to play a pivotal role in the Government’s efforts to support the energy transition and achieve the goals of increasing the country’s installed renewable energy capacity to 70% and achieve net-zero by 2050, the Energy Commission has recently published the Guidelines for Solar Photovoltaic Installation for Self-Consumption in Peninsular Malaysia which came into effect on 1 January 2025.
The year 2023 marked a turning point for Indonesia’s financial sector with the enactment of the “omnibus law for the financial sector”, officially known as Law No. 4 of 2023 on Financial Sector Development and Reinforcement (PPSK Law).
On 7 January 2025, the Maintenance of Racial Harmony Bill (“Bill”) was tabled in Parliament. As an overarching aim, the Singapore Government’s enactment of a legislative framework envisions a cohesive multi-racial society.
New Bill Introduced in Parliament to Maintain Racial Harmony in Singapore Read More »
Indonesia has long grappled with public health concerns tied to tobacco and other addictive substances. This is especially challenging given its status as one of the world’s largest tobacco markets.
Health in Transition Part 3: Indonesia’s New Tobacco and E-Cigarette Regulations Read More »
As the new year starts, this Update provides you a reminder of the key regulatory compliance requirements for the year of 2025 that would affect your company.
2025 Compliance Alert: Reminder on Key Annual Compliance Matters Read More »
On 21 and 24 January 2025, Rajah & Tann organised the following Competition & Antitrust and Consumer Protection Breakfast Seminars.
Competition & Antitrust and Consumer Protection Breakfast Seminars Read More »
On 24 January 2025, the second tranche of provisions of the Financial Institutions (Miscellaneous Amendments) Act 2024 (“FIMA”) came into effect.
As a prominent alternative dispute resolution mechanism, arbitration plays a pivotal role in resolving commercial disputes. In Cambodia, the National Commercial Arbitration Centre (“NCAC”) was established as the first commercial arbitral institution aiming to provide comprehensive procedural rules for resolving commercial disputes through arbitration.
On 17 January 2025, the Ministry of Law (“MinLaw”) announced that Phase 3 of the Criminal Procedure (Miscellaneous Amendments) Act 2024 (“Amendment Act”), which was passed in Parliament on 5 February 2024, will take effect on 14 February 2025.
The Cyberspace Administration of China is conducting a public consultation on the Personal Information Protection Certification Measures (Draft for Comments) (“Draft Measures”) from 3 January to 3 February 2025.
The Indonesian Constitutional Court recently issued a landmark decision affecting the insurance industry.
In November 2024, the Ministry of Environment issued a new regulation, Decree No. 22 of 2024 on the Delegation of Environmental Approval Processes Under Central Authority to Provinces and Regencies/Municipalities to Support the Implementation of Business Licensing.
Indonesia Streamlines Environmental Approvals with New Decree Read More »
On 15 January 2025, the Monetary Authority of Singapore (“MAS”) announced the extension of the Global-Asia Bond Grant Scheme (“G-ABGS”) and the launch of the Global-Asia Digital Bond Grant Scheme (“G-ADBGS”).
The 5th ASEAN Digital Ministers’ Meeting (ADGMIN) was held from 16 to 17 January 2025, during which three essential guides pertaining to data protection and artificial intelligence (“AI”) were unveiled.
ASEAN Data Protection and Generative AI Guides Issued at Digital Ministers Meeting Read More »
On 7 January 2025, Singapore and Malaysia signed and exchanged an Agreement (“JS-SEZ Agreement”) on the Johor-Singapore Special Economic Zone (“JS-SEZ”).
Happy 2025! We are pleased to present the latest edition of our Regional Competition Bites, which looks back at the fourth quarter of 2024.
Regional Competition Bites Q4 2024 Read More »
On 4 December 2024, the Ministry of Interior issued Circular No. 072 on Banning the Advertisement of Illegal Gambling to ban the propagation of all types of illegal gambling, both in person and online. Circular No. 072 aims to enhance law enforcement and ensure public order, security, and social safety by prohibiting activities related to illegal gambling content
Circular on Banning the Propagation of Illegal Gambling Read More »
On 8 January 2025, the Food Safety and Security Bill (“Bill”) was introduced for Second Reading and passed in Parliament. There are three main thrusts in the Bill: (i) consolidate and rationalise food-related legislation; (ii) update Singapore’s food safety regime to better protect consumers; and (iii) strengthen the country’s food resilience.
On 12 January 2025, oversight of Indonesia’s crypto asset trading sector will shift from the Commodity Futures Trading Regulatory Agency, known as Bappebti, to the OJK, Indonesia’s Financial Services Authority.
Changing of the Guards in Indonesia’s Crypto Asset Sector Read More »
At the 11th Malaysia-Singapore Leaders’ Retreat on 7 January 2025, Singapore and Malaysia considered steps to address climate change challenges.
According to a report by the Vietnam Ministry of Natural Resource and Environment, the country possesses significant strategic mineral resources with substantial reserves
Vietnam’s New Mineral Geology Law Read More »
The Insolvency, Restructuring and Dissolution (Amendment) Bill (“Bill”) was introduced by the Ministry of Law (“MinLaw”) for Second Reading and passed in Parliament on 7 January 2025.
Bill Passed for Simplified Insolvency Programme to be Revamped and Made Permanent Read More »
On 8 January 2025, the landmark Workplace Fairness Bill (“Bill”) was passed in Parliament. The Bill will complement the Tripartite Guidelines on Fair Employment Practices.
The Customs (Amendment) Bill (“Bill”) was introduced for Second Reading and passed in Parliament on 8 January 2025. The Bill will amend the Customs Act 1960 (“Act”).
On 30 December 2024, the Ministry of Trade and Industry Singapore announced that the China-Singapore Free Trade Agreement (“CSFTA”) Further Upgrade Protocol, signed in December 2023, will enter into force on 31 December 2024.
The Intellectual Property Office of Singapore (“IPOS”) has issued the Registry of Trade Marks Circular No. 1/2025: Partial replacement of national registrations by protected international trade marks (“Circular”).
Partial Replacement of National Registrations by Protected International Trade Marks Read More »
The Ministry of Economy and Finance issued Notification no. 020 on the Stamp Duty Tax Exemption and Relief on the Transfer of Ownership or Possessory Rights of Real Estate for First-Time Home Buyers dated 31 December 2024 (“Notification no. 020”).
On 3 January 2025, the Competition and Consumer Commission of Singapore (“CCCS”) provided positive guidance that the joint establishment and operation of Beverage Container Return Scheme (BCRS) Ltd. by Coca-Cola Singapore Beverages Pte. Ltd., F&N Foods Pte Ltd, and Pokka Pte. Ltd. is unlikely to infringe section 34 (which prohibits anti-competitive agreements between businesses) and section 47 (which prohibits abuse of a dominant market position) of the Competition Act 2004.
Under section 224 of the Insolvency, Restructuring and Insolvency Act 2018 (“IRDA”), the Court can make remedial orders if an insolvent company gifted an asset to a counterparty for no consideration, or sold that asset to a counterparty “for a consideration…significantly less than the value provided by the company”.
Valuing an Asset in an Undervalue Transaction Claim: Equitable Value or Market Value? Read More »
On 26 December 2024, the National Bank of Cambodia issued Prakas No. B7-024-735 on Transactions Related to Cryptoassets.
Prakas on Transactions Related to Cryptoassets Read More »
In our previous Legal Update, we provided a brief overview of the recent developments and key legislative changes in the technology, media and telecommunications & data protection (TMT) space in Malaysia.
An Overview of Key Changes Introduced by the CMA Amendment Bill Read More »
On 30 December 2024, the Building and Construction Authority (“BCA”) announced its public consultation until 27 January 2025 on its proposed draft Code on Accessibility in the Built Environment 2025 (“Code”).
The construction industry is a complex web of contracts, schedules, and payments, all of which require careful management to keep projects on track, and there is always a risk that disputes can quickly spiral out of control.
投资、贸易及工业部 (MITI) 发布数据中心可持续发展指南 Read More »
The construction industry is a complex web of contracts, schedules, and payments, all of which require careful management to keep projects on track, and there is always a risk that disputes can quickly spiral out of control.
MITI Publishes Guidelines for Sustainable Development of Data Centre Read More »
The construction industry is a complex web of contracts, schedules, and payments, all of which require careful management to keep projects on track, and there is always a risk that disputes can quickly spiral out of control.
An Overview of the Online Safety Bill 2024 Read More »
This Update highlights recent tax and customs developments in Vietnam.
Tax & Customs Alert – December 2024 Read More »
As the end of 2024 approaches, Vietnam’s energy sector is moving forward to 2025 with aspirations and numerous fundamental changes in policy and legislative directions under a new electricity law.
Vietnam’s New Electricity Law Read More »
On 24 December 2024, the Digital Minister published the official dates for the coming into operation of the Personal Data Protection (Amendment) Act 2024, which was passed by the Malaysian Parliament earlier this year.
The disclosure of National Registration Identity Card (“NRIC”) numbers has been the subject of much attention in recent weeks, after unmasked NRIC numbers were made publicly accessible on the new BizFile portal.
Disclosure of NRIC Numbers – Government Sets Out Position and Upcoming Guidance Read More »
The past year has seen a slew of developments in the area of employment law across the region. These range
Regional Employment Law Review 2024 Read More »
On 20 December 2024, the Ministry of Law (“MinLaw”) announced that, following the passing of the Family Justice Reform Act 2023 in Parliament on 8 May 2023, Phase 1 of the new Maintenance Enforcement Process (“MEP”) will be implemented on 16 January 2025.
On 20 December 2024, the Ministry of Trade and Industry (“MTI”) and Singapore Customs (“Customs”) announced that as part of ongoing efforts to work with businesses to address key challenges, including regulations, they have collaborated to facilitate smoother cross-border movement of goods.
On 19 December 2024, the National Privacy Commission released Advisory No. 2024-04.
On 17 December 2024, the House of Representatives approved on third and final reading House Bill No. 10755 which seeks to amend Republic Act No. 7652, otherwise known as the Investors’ Lease Act.
On 1 January 2025, the Platform Workers Act (“Act”) came into effect, as announced by the Ministry of Manpower (“MOM”) on 17 December 2024.
Commencement of Platform Workers Act on 1 January 2025 Read More »
The Ministry of Law (“MinLaw”) and Intellectual Property Office of Singapore (“IPOS”) have effected key changes to the prescribed exceptions allowing users to circumvent access control measures for non-infringing uses from 1 January 2025.
The technology, media and telecommunications & data protection (“TMT”) space in Malaysia recently witnessed a flurry of legislative developments during the recently concluded October – December 2024 parliamentary session for the lower house of the Malaysian Parliament (i.e., the House of Representatives).
On 28 November 2024, the Monetary Authority of Singapore (“MAS”) announced the following changes affecting real estate investment trusts (“REITs“), which will take immediate effect
Section 20 of the Probate and Administration Act 1934 (“Section 20”) plays a crucial role in safeguarding an estate’s assets during the often protracted and lengthy process of probate litigation.
High Court Appoints Interim Administrator to Preserve Status Quo of Disputed Estate Read More »
On 31 December 2024, the Financial Services and Markets (Resolution of Financial Institutions) (Amendment) Regulations 2024 (“FSM RFI Regulations”) came into effect.
Statutory Bail-in Regime Extended to Insurance Sector With Effect from 31 December 2024 Read More »
The Johor-Singapore Special Economic Zone (“JS-SEZ”) represents a strategic initiative aimed at transforming the border region between Malaysia’s Johor state and Singapore into a premier economic hub.
The New Southeast Asia Economic Hub: Johor-Singapore Special Economic Zone (JS-SEZ) Read More »
Workplace investigations, disciplinary hearings and summary dismissals are deeply contentious, and must be carried out with great care and due process to survive subsequent challenge.
On 22 November 2024, the Non-Banking Financial Services Authority issued a Decision No. 017 FSA.SSR on Procedures and Mechanisms for Resolving Disputes or Complaints by Social Security Regulator (“Decision”).
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) and the Association of Banks in Singapore (“ABS”) announced that two new payment solutions will be launched in mid-2025. Electronic Deferred Payment (“EDP”) will address the use cases of post-dated payments, and EDP+ will cover transactions requiring greater certainty of payment.
The Kuala Lumpur High Court recently dismissed an application for a judicial management order and in its decision introduced procedural safeguards to prevent the abuse of the judicial management process.
Automatic Moratoriums in Applications for Judicial Management Order Read More »
On 9 December 2024, the ACRA (Registry and Regulatory Enhancements) Act 2024 (“ACRA Enhancements Act”) partially took effect. The ACRA Enhancements Act aims to bolster data protection, facilitate digital communications between the Government and businesses, and to enhance the regulatory framework for entities under the purview of the Accounting and Corporate Regulatory Authority (“ACRA”).
On 29 November 2024, the Royal Government of Cambodia issued Decision No. 230 on the Determination of Priority Sectors for Public-Private Partnership Projects 2025-2030 (“Decision”).
Determination of Priority Sectors for Public-Private Partnership Projects 2025-2035 Read More »
The Ministry of Energy Transition and Water Transformation (PETRA), through the Energy Commission (EC), has launched an open bidding program for the acquisition of Battery Energy Storage System (BESS) capacity through the Request for Qualification (RFQ) process.
Competitive Bidding for Battery Energy Storage System (BESS) in Peninsular Malaysia Read More »
On 31 October 2024, the People’s Republic of China Ministry of Industry and Information Technology issued the Emergency Response Plan for Data Security Incidents in the Field of Industry and Information Technology (for Trial Implementation) (the “Emergency Plan”, 工业和信息化领域数据安全事件应急预案(试行)).
PRC Issues Emergency Response Plan for Data Security Incidents for Trial Implementation Read More »
To support clean energy transition and sustainable infrastructure development across Southeast Asia, the Monetary Authority of Singapore (“MAS”) announced on 3 December 2024 that the Australian Government will invest US$50 million into the Green Investments partnership (“GIP”) under Singapore’s Financing Asia’s Transition Partnership (“FAST-P”) initiative.
The Ministry of Law and the Ministry of Digital Development and Information are seeking feedback through a public consultation to address the growing concerns regarding online harms with proposed measures to bolster the existing legal and regulatory regime in order to empower individuals to seek relief from harmful online content and hold responsible parties accountable
On 2 January 2025, the Intellectual Property Office of Singapore (“IPOS“) will launch a pilot for an Expedited Track for
Expedited Track for Proceedings Before Registrar of Trade Marks Read More »
In his maiden National Day Rally 2024 speech, Prime Minister Mr Lawrence Wong announced that the Government would introduce a new shared parental leave (“SPL”) scheme for parents of children born (or due) on or after 1 April 2025, as well as making mandatory an additional two weeks of paternity leave.
Passing of Bill to Enhance Parental Leave Schemes, Institute Leave Protections Read More »
The National Privacy Commission has taken steps to tighten data privacy, secure cross-border data flows, and strengthen the overall data protection in the country.
Philippines Takes Steps in Strengthening Data Protection Read More »
On 27 November 2024, the Intellectual Property Office of the Philippines (IPOPHL) issued IPOPHL Memorandum Circular No. 2024-045 promulgating the Rules of Procedure on the Resolution of Actions Without Provisional Remedies in Intellectual Property Cases with Delimited Damages.
On 27 November 2024, the Inland Revenue Authority of Singapore (“IRAS“) announced that Singapore had committed to the implementation of
Singapore Commits to Implementation of Crypto-Asset Reporting Framework Read More »
This Update highlights recent tax and customs developments in Vietnam.
Tax & Customs Alert – November 2024 Read More »
With the persistent and evolving threat of digitally-enabled scams in Singapore, it is of vital importance that individuals and enterprises take appropriate and adequate preventative measures.
At the National Day Rally 2021, the then Prime Minister Mr Lee Hsien Loong announced an intended law to deal with workplace discrimination.
In recent years, the Indonesian market has gradually entered the global business spotlight, becoming an important destination for many companies investing and trading in Southeast Asia.
On 20 November 2024, Intellectual Property Office of the Philippines announced its plans to integrate Intellectual Property education into the basic education curriculum through a collaboration with the Department of Education.
IPOPHL Seeks IP Education Integration in Basic Education Read More »
The construction industry is a complex web of contracts, schedules, and payments, all of which require careful management to keep projects on track, and there is always a risk that disputes can quickly spiral out of control.
Section 30 of CIPAA 2012: A Boon for Subcontractors? Read More »
建筑行业是一个包含合同、进度和付款的复杂行业，这些都需要谨慎管理以确保项目的稳定进展。这行业随之而来的风险是一旦任何一方与另一方发生争议，正在进行的项目可能会迅速失控并停滞。
《2012 年建筑业付款与裁决法令》第30条：对分包商的福音？ Read More »
On 4 November 2024, the Government issued Decree 145/2024/ND-CP, amending Clause 2 Article 12 of Decree 03/2017/ND-CP in relation to the extension of pilot scheme allowing Vietnamese citizens in Vietnam to play at casinos.
Update on Amended Decree on Casino Business Operations Read More »
On 15 November 2024, the new Circular 06/2024/TT-BKHCN came into effect, introducing revisions and/or additions to certain articles of Circular 11/2015/TT-BKHCN concerning the enforcement of intellectual property rights through administrative sanctions against IP infringement in Vietnam
Update on New Circular on Administrative Sanctions in Industrial Property Read More »
Earlier in the year, the Monetary Authority of Singapore (“MAS“) increased the Maximum Deposit Insurance (“DI“) Coverage from S$75,000 to
In Re: Bu Shen Xi (S) Pte Ltd [2024] SGHC 247, the Singapore High Court considered an application for a winding-up order in respect of a company on the basis of sections 125(1)(a) and/or 125(1)(e) of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).
In July 2023, the Monetary Authority of Singapore (“MAS”) published its Consultation Paper on Proposed Framework for Single Family Offices (“Consultation”).
In recent times, the Indonesian media has been buzzing with reports that the government has officially tightened its ban on infant formula milk (susu formula) promotion.
Indonesia Tightens Infant Formula Promotions under Government Regulation No. 28 of 2024 Read More »
On 14 November 2024, the Singapore Tourism Board (“STB“) introduced two initiatives to elevate Singapore’s position as a leading sustainable
To support the use of transition credits in accelerating and scaling the early retirement of coal-fired power plants (“CFPPs“), the
On 12 November 2024, the Ministry of Sustainability and the Environment (“MSE“) introduced the Food Safety and Security Bill (“Bill“)
Bill Introduced in Parliament to Enhance Singapore’s Food Safety and Security Regime Read More »
The Multi-Jurisdiction Common Ground Taxonomy (“M-CGT“) was presented on 14 November 2024, being a collaborative effort by the Monetary Authority
In October 2024, the President of the Republic of Indonesia passed Law No. 65 of 2024 to amend Law No. 13 of 2016 on Patent.
Major Changes to the Indonesian Patent Law and What it Means for Innovation Read More »
The Energy Conservation (Amendment) Bill (“Bill“) was passed on 11 November 2024. The Bill will extend the Minimum Energy Efficiency
On 13 November 2024, the Ministry of Home Affairs (“MHA“) announced that the Anti-Money Laundering and Other Matters Act 2024
The Civil Aviation Authority of Singapore (“CAAS“) has announced that, with effect from 1 December 2025, all unmanned aircraft (“UA“)
Broadcast Remote Identification Requirement to be Imposed for Unmanned Aircraft Read More »
The Protection for Scams Bill (“Bill“) was introduced for First Reading in Parliament on 11 November 2024. The Bill empowers
Protection from Scams Bill Introduced in Parliament Read More »
On 11 November 2024, the ASEAN Capital Markets Forum (“ACMF“) published the “Working Paper on a Practical Approach to Transition Finance
ACMF Releases Working Paper on Practical Approach to Transition Finance in Asia Read More »
On 11 November 2024, the Ministry of Law (“MinLaw“) introduced the Insolvency, Restructuring and Dissolution (Amendment) Bill (“Bill“) in Parliament to revamp
Bill Introduced for Simplified Insolvency Programme to be Revamped and Made Permanent Read More »
On 11 November 2024, the Monetary Authority of Singapore (“MAS“) announced new green finance and capital markets initiatives to enhance
A key feature of arbitration as a dispute resolution option is that it offers parties the opportunity to have their dispute resolved in private.
When Confidentiality Gets Compromised: Protecting the Privacy of Your Arbitration Read More »
The Indonesia Competition Commission (Komisi Pengawas Persaingan Usaha or “KPPU”) recently issued a press release highlighting its findings of potential anti-competitive practices in how state-owned enterprises procure goods and services.
KPPU Scrutinises Direct Appointment Criteria in SOE Procurement Read More »
In Asia-Euro Capital SPV I LLP v Regulus Advisors Pte Ltd [2024] SGHC 279, the Singapore High Court was faced with the scenario of an aggrieved investor who had suffered investment losses in a private equity investment, and subsequently raised numerous issues as to how the investment had been marketed to him.
Promises, Puffery and Liability in Marketing Private Equity Investments Read More »
In a significant decision on 31 October 2024, Indonesia’s Constitutional Court issued a ruling with major implications for the country’s labour law.
Major Changes to Indonesian Labour Law: Constitutional Court Ruling Favours Employees Read More »
On 5 November 2024, Banque de France (“BDF“) and the Monetary Authority of Singapore (“MAS“) announced the completion of a groundbreaking joint experiment in
The Vietnam Government has recently issued Decree No. 135/2024/ND-CP dated 22 October 2024 stipulating mechanisms and policies to encourage the development of rooftop solar power for self-production and self-consumption.
DPPA and Rooftop Solar Power Regulations Read More »
On 4 November 2024, the Monetary Authority of Singapore (“MAS“) announced plans to facilitate tokenisation in financial services through the following
MAS Announces Initiatives to Commercialise and Scale Asset Tokenisation Read More »
By 2025, the Indonesian government aims to achieve a minimum of 23% renewable energy in the national energy mix and 31% by 2050. Despite the ambitious target, the Electricity Law (Law No. 30 of 2009 as amended by Government Regulation in lieu of Law No. 2 of 2022) requires independent power producers (IPPs) to prioritise the use of domestic products in developing power generation projects, including renewable energy projects.
National AML Strategy On 30 October 2024, Singapore published its National Anti-Money Laundering (“AML“) Strategy, which outlines its strategic approach to
In Re: Bu Shen Xi (S) Pte Ltd [2024] SGHC 247, the Singapore High Court considered an application for a winding-up order in respect of a company on the basis of sections 125(1)(a) and/or 125(1)(e) of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).
Court Sets Out Principles for Winding Up by Special Resolution Read More »
The Infocomm Media Development Authority (“IMDA”) has announced that the second iteration of the Generative Artificial Intelligence Sandbox for SMEs (“GenAI Sandbox 2.0”) will be launched on 2 December 2024.
Upcoming Launch of GenAI Sandbox 2.0 for SMEs Read More »
This Update highlights recent tax and customs developments in Vietnam.
1. Tax Policy on Transfer of Mortgaged Real Estate.
2. Tax Implications on Transfer of Real Estate.
3. Tax-Deductible Expenses for Employment Benefits.
Tax & Customs Alert – October 2024 Read More »
On 29 October 2024, the Ministry of Home Affairs (“MHA”) announced that certain provisions of the Casino Control (Amendment) Act 2024 (“Amendment Act”), which amends the Casino Control Act 2006 (“CCA”), will come into effect on 30 October 2024.
On 30 October 2024, the Monetary Authority of Singapore (“MAS”) announced the launch of the Global Finance & Technology Network (“GFTN”) to reinforce Singapore’s position as a leading global FinTech hub and boost international connectivity for impactful financial services innovation.
The Elections (Integrity of Online Advertising) (Amendment) Bill (“Bill”) was passed in Parliament on 15 October 2024.
New Measures against Digitally Manipulated Content and Deepfakes during Elections Read More »
On 25 October 2024, the Ministry of Finance (“MOF”) and Singapore Customs (“Customs”) issued a summary of the feedback received to the Consultation (from 13 September 2024 to 4 October 2024) on proposed amendments to the Customs Act 1960 (“Act”) via the draft Customs (Amendment) Bill.
On 21 October 2024, the ASEAN Capital Markets Forum (“ACMF”) held its 41st Chairs’ Meeting in Vientiane, Lao PDR, hosted by the Lao Securities Commission Office (“Meeting”).
ASEAN Capital Markets Forum Endorses ASEAN Transition Finance Guidance Version 2 Read More »
We are pleased to present our 3rd Regional Competition Bites for 2024.
Regional Competition Bites Q3 2024 Read More »
Starting from November 2024, Indonesia’s financial services industry will be subject to several important consumer protection obligations under OJK Regulation No. 22 of 2023 on Consumer and Public Protection in the Financial Services Sector.
In October 2024, Singapore has taken several steps to implement tax measures announced in Budget 2024.
On 18 October 2024, the Monetary Authority of Singapore (“MAS”) published the Guidelines to MAS Notice FSM-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism – Financial Institutions’ Information Sharing Platform (“Guidelines”).
In the recent decision of Exterian Capital Pte Ltd v Wong Jun Jie Adrian and another [2024] SGHC 254, the General Division of the High Court (“Court”) found the First Defendant in contempt of court.
Suspended Jail Term for Contempt of Court – Rare but Effective Sanction? Read More »
The Ministry of Economy and Finance issued Instruction no. 009 on Tax Allowance on Withholding Tax and Specific Tax for Airline Companies dated 7 June 2024 (“Instruction no. 009”).
Instruction on Tax Allowance on Withholding Tax and Specific Tax for Airline Companies Read More »
On 1 October 2024, the Workplace Safety and Health Council (“Council”) launched a public consultation on the draft Guidelines on Providing Support for Employees with and at-risk of Mental Health Conditions (“Guidelines”).
The Platform Workers Bill (“Bill”) was passed in Parliament on 10 September 2024 to provide platform workers with protections in three areas: (i) housing and retirement adequacy through Central Provident Fund (“CPF”) contributions; (ii) compensation for work injuries; and (iii) a legal framework for representation.
To guide businesses to reduce Scope 2 carbon emissions, the Energy Market Authority (“EMA”), the Energy Research Institute @ Nanyang Technological University, Singapore (“NTU”) and Enterprise Singapore announced on 22 October 2024 that they are developing a playbook titled “Powering a Sustainable Future: A Playbook on Scope 2 Emissions Reduction for Singapore Businesses” (“Playbook”).
On 21 October 2024, the Family Justice Courts (“FJC”) launched the Therapeutic Justice Model (“TJ Model”). TJ, which was formally adopted by the FJC as its “lens of care” in 2020, is about helping families accept the past and move towards their best possible future.
Therapeutic Justice Model Launched to Aid Amicable Resolution of Family Disputes Read More »
The Personal Data Protection (Amendment) Bill 2024, which was passed by the Malaysian Parliament earlier in July, has received royal assent and has been published in the Federal Gazette as the Personal Data Protection (Amendment) Act 2024 on 17 October 2024.
News Alert: The Gazetting of the Personal Data Protection (Amendment) Act 2024 Read More »
On 22 October 2024, the Energy Market Authority (“EMA”) announced that the Ministry of Trade and Industry, EMA and the United States Department of Energy will commence the second phase of the United States-Singapore Feasibility Study on Regional Energy Connectivity (“Study”) through the Net Zero World Initiative.
On 21 October 2024, the Monetary Authority of Singapore (“MAS”) issued a Circular on “Audit of AML/CFT Policies, Procedures and Controls” (“Circular”).
Singapore is on a journey to decarbonise its power sector. This journey will result in Singapore’s energy supply mix becoming more diverse and the growing use of domestic solar and electricity imports.
The Monetary Authority of Singapore (“MAS”) is consulting (until 4 November 2024) on proposed: (i) Financial Services and Markets Regulations (“FSM Regulations”); (ii) notices, including on anti-money laundering and countering the financing of terrorism (“AML/CFT”); and (iii) other applicable guidelines, for the regulatory framework for virtual asset service providers (“VASPs”) under Part 9 of the Financial Services and Markets Act 2022 (“FSMA”).
On 10 October 2024, the Ministry of Economy and Finance issued Prakas No. 626 on Tax Incentives for Enterprises in the Tourism Sector that operate in Siem Reap province (“Prakas no. 626”).
Prakas on Tax Incentives for Enterprises in the Tourism Sector in Siem Reap Province Read More »
The recent advent of generative AI and large language models has led to groundbreaking opportunities for all parts of society.
As discussed in our previous update on this topic, Indonesia’s mandatory halal regime for various goods and services is being implemented in stages, beginning today, 17 October 2024.
Indonesia’s Halal Certification Deadline is Here: Is Your F&B Business Compliant? Read More »
As cybersecurity risks continue to proliferate, Singapore has turned its attention to the cybersecurity of medical devices.
Launch of Cybersecurity Labelling Scheme for Medical Devices Read More »
With the growing deployment of Artificial Intelligence (“AI”) systems, the associated cybersecurity risks have become a major concern, highlighting the importance of making AI secure by design and secure by default. To help organisations adopt AI in a secure manner, the Cyber Security Agency of Singapore (“CSA”) has launched the Guidelines on Securing AI Systems (“Guidelines”) and the accompanying Companion Guide for Securing AI Systems (“Companion Guide”) on 15 October 2024.
CSA Launches Guidelines on Securing Artificial Intelligence Systems Read More »
In October 2024, Singapore has moved to implement Pillar Two of the Base Erosion and Profit Shifting (“BEPS”) 2.0 initiative.
Implementation of BEPS 2.0: Passing of MNE Bill, Consultation on MNE Regulations Read More »
On 14 October 2024, the Mutual Assistance in Criminal Matters (Amendment) and Other Matters Bill (“MACMA Bill”) was introduced for First Reading in Parliament.
On 14 October 2024, the Ministry of Law (“MinLaw”) introduced the Singapore International Commercial Court (International Committee) Bill (“Bill”) for First Reading in Parliament.
The Association of Southeast Asian Nations (“ASEAN”) member states and China have substantially concluded the ASEAN-China Free Trade Area (“ACFTA”) 3.0 Upgrade negotiations.
Substantial Conclusion of ASEAN-China Free Trade Area 3.0 Upgrade Negotiations Read More »
The Ministry of Economy and Finance issued Notification No. 014 on the Continuation and Expansion of Tax Incentives for the Real Estate Sector dated 9 October 2024 (“Notification no. 014”).
A new bilateral investment treaty between Indonesia and Switzerland, namely the Indonesia-Swiss Agreement on the Promotion and Reciprocal Protection of Investments, came into force in August 2024.
On 14 October 2024, the Ministry of Law (“MinLaw”) introduced the Administration of Justice (Protection) (Amendment) Bill (“AOJP Bill”) for First Reading in Parliament.
In February 2024, Singapore announced that it would implement the Multinational Enterprise Top-up Tax (“MTT”) and the Domestic Top-up Tax (“DTT”) under Pillar Two of the Base Erosion and Profit Shifting (“BEPS”) 2.0 initiative.
Implementation of BEPS 2.0: IRAS Consults on Draft Subsidiary Legislation to MNE Bill Read More »
At the 23rd Singapore International Bunkering Conference (SIBCON) organised by the Maritime and Port Authority of Singapore (“MPA”) and held from 8 to 10 October 2024, Dr Amy Khor, Senior Minister of State for the Ministry of Sustainability and the Environment and the Ministry of Transport, shared the efforts that Singapore has been undertaking to develop and enhance its maritime sector, as well as upcoming initiatives that are set to be implemented.
On 22 July 2024, during his 3rd State of the Nation Address, the President of the Philippines, Ferdinand Marcos, Jr., announced the immediate ban of all Philippine Offshore Gaming Operators (“POGOs”).
One Door Closes, Another Opens: POGO Ban Looms as UAE Legalises Online Gaming Read More »
In Rajesh Harichandra Budhrani v INTL FCStone Pte Ltd and others [2024] SGHC(A) 29, the Appellate Division of the Singapore High Court was faced with a dispute between an investor and a broker-dealer regarding liability for investment losses sustained in margin trading amidst a volatile market.
The National Climate Change Secretariat in the Strategy Group, Prime Minister’s Office (“NCCS”) conducted a public consultation from 8 October 2024 to 5 November 2024 seeking the public’s view on Singapore’s climate ambition, transition towards a low-carbon economy, and planned decarbonisation measures.
National Climate Change Secretariat Consults on Singapore’s Decarbonisation Journey Read More »
On 25 September 2024, the Singapore Exchange Regulation (“SGX RegCo”) released changes to the sustainability reporting requirements set out under the Listing Rules (Mainboard) and the Listing Rules (Catalist) (collectively, “Listing Rules”).
On 17 September 2024, the Monetary Authority of Singapore (“MAS”) announced its Consultation (closing on 18 October 2024) on various proposed legislative changes to enhance: (i) corporate governance for registered business trusts (“BTs”); and (ii) alignment between the requirements for BTs and the requirements for Real Estate Investment Trusts (“REITs”) and companies.
The Minister of Finance Regulation No. 47 of 2024 introduces new anti-avoidance measures and expands reporting requirements, reflecting a global shift towards greater transparency and cooperation in tax matters.
Important Changes to Financial Information Access for Tax Purposes Read More »
Where the Court has granted recognition of foreign insolvency proceedings against a company, an automatic stay and suspension of actions or proceedings against that company will arise.
Maritime disputes often involve parties from different countries, contracts governed by different laws, and events occurring in different jurisdictions. The choice of forum for the resolution of such disputes is thus of particular importance, potentially having significant impact on the outcome, costs, and enforceability of the claims.
This Update highlights recent tax and customs developments in Vietnam.
Tax & Customs Alert – September 2024 Read More »
Connectivity is a vital element in commerce and digital growth, leading to an increased reliance on undersea cable infrastructure, which can present major national and economic security risks.
Following the announcement by the Ministry of Energy Transition and Water Transformation in July 2024, the Energy Commission of Malaysia recently launched the much-anticipated Guidelines for Corporate Renewable Energy Supply Scheme.
From 25 September 2024 to 25 October 2024, the Monetary Authority of Singapore (“MAS”) is consulting on proposed guidelines (“Proposed Guidelines”) to accompany MAS Notice 134 (“MAS Notice 134”).
On 25 September 2024, the Monetary Authority of Singapore (“MAS”) published the revised Notice PSN11 – Notice on Restrictions in Relation to the Provision of Cross-Border Money Transfer Services to Persons in the People’s Republic of China (“Revised Notice PSN11”).
The Ministry of Labour and Vocational Training issued Notification No. 026/24 dated 11 September 2024, informing the owners or directors of companies employing foreign employees to apply for the foreign quota for the year 2025 between 1 September 2024 and 30 November 2024
Reminder on Foreign Quota Application for the Year 2025 Read More »
The updated national Operational Technology (“OT”) Cybersecurity Masterplan (“OT Masterplan 2024”) was launched in August 2024. It outlines Singapore’s plans to boost the technical cybersecurity capabilities and competencies of the OT sector so as to tackle new cyber threats to OT systems, and to further enhance the security and resilience of stakeholders.
Singapore Launches Updated National Operational Technology Cybersecurity Masterplan Read More »
On 31 July 2024, the Malaysian Parliament passed the long-awaited Personal Data Protection (Amendment) Bill 2024, tabled by Digital Minister Gobind Singh.
The anticipated healthcare overhaul in Indonesia has officially begun as the government enacted Government Regulation No. 28 of 2024 as the implementing regulation of Law No. 17 of 2023 on Health.
For the May 2025 National and Local Elections, the Commission on Elections will conduct the first-ever internet voting through the Online Voting and Counting System in 76 foreign service posts from different countries.
Internet Voting Set for 2025 Midterm Polls Read More »
On 9 September 2024, the Multinational Enterprise (Minimum Tax) Bill (“MNE Bill”) and the Income Tax (Amendment) Bill 2024 (“ITA Bill”) (collectively, the “Bills”) were first read in Parliament.
Bills Introduced in Parliament to Implement BEPS 2.0 Pillar Two, Amend Income Tax Act Read More »
From 12 September 2024 to 11 October 2024, the Monetary Authority of Singapore (“MAS”) conducted a public consultation on its proposed amendments to the Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024 (“FSM-RFI Regulations”).
From 13 September 2024 to 4 October 2024, the Ministry of Finance (“MOF”) and Singapore Customs (“Customs”) consulted on the proposed amendments to the Customs Act 1960 (“Act”) to improve the operational effectiveness of Customs and strengthen its regulatory and enforcement regime.
On 12 September 2024, the Infocomm Media Development Authority (“IMDA”) introduced the e-Apostille Framework which will allow public documents to be authenticated online from 2025.
In line with the significant changes proposed in the new draft Corporate Income Tax (CIT) law, set to take effect on 1 January 2026, tax authorities have been conducting audits on the existing tax incentives for foreign-invested enterprises in industrial zones.
Tax & Customs Alert – August 2024 Read More »
The Indonesian government has taken a significant step in promoting domestic participation in the energy sector with the recent enactment of Minister of Energy and Mineral Resources Regulation No. 11 of 2024 on Utilisation of Domestic Products for the Construction of Electrical Infrastructure (“Regulation”).
Singapore has seen a rise in incidents of scams, particularly cases involving the voluntary transfer of monies by the victim to the scammer.
On 10 September 2024, the Platform Workers Bill was passed in Parliament, with the intention for it to come into
Passing of the Platform Workers Bill: Upcoming New Regulations for Platform Operators Read More »
The Casino Control (Amendment) Bill (“CCA Bill“), introduced by the Ministry of Home Affairs (“MHA“) for First Reading in Parliament
It has often been said that an unconditional on-demand bond is “as good as cash”, and that the bond issuer (usually a bank) must pay the specified sum to the beneficiary upon receipt of a compliant demand.
The Draft Liability for Defective Products Act, also known as the “Lemon Law,” aims to close existing gaps in consumer protection laws by introducing liability provisions that cover additional types of product defects beyond those exclusively related to safety risks.
Key Insights into the 2024 Draft Liability for Defective Product Act (Lemon Law) Read More »
On 6 August 2024, the Insurance Regulator of Cambodia (“IRC”) issued Guideline No. 041 on Reinsurance Diversification (“Guideline”), aiming to ensure the safety and effectiveness of risk management and risk prevention for insurers.
Guideline on Reinsurance Diversification Read More »
On 12 July 2024, the Non-Bank Financial Service Authority (“NBFSA”) issued Prakas No. 044 on Rules and Guidelines on Reinsurance (“Prakas”), aiming to ensure the safety and effectiveness of risk management and risk prevention for insurers.
Prakas on Rules and Guidelines on Reinsurance Read More »
Following the Malaysian Parliament’s passing of the Personal Data Protection (Amendment) Bill 2024 on 31 July 2024, the Personal Data Protection Commissioner has issued three public consultation papers to seek feedback on upcoming guidelines that will supplement changes introduced by the Amendment Bill.
The Cyber Security Act 2024 (Act 854) has come into force on 26 August 2024.
Coming into Force of the Cyber Security Act 2024 and the New Subsidiary Regulations Read More »
On 26 August 2024, the Accounting and Corporate Regulatory Authority (“ACRA“) announced that alternate addresses in ACRA’s public records will be
The Monetary Authority of Singapore has published an information paper on “Cyber Risks Associated with Generative AI”.
On 21 August 2024, at the sidelines of the 2nd Asia Zero Emissions Community (“AZEC“) Ministerial Meeting, it was announced
On 20 August 2024, the Building and Construction Authority (“BCA“) launched a public consultation titled “Raising Competencies and Enhancing Safety in
In December 2023, the Monetary Authority of Singapore (“MAS”) extended the scope of due diligence checks to a wider group of individuals and entities associated with family offices who are applying for tax incentives.
The updated national Operational Technology Cybersecurity Masterplan (“OT Masterplan 2024“) was launched by Mrs Josephine Teo, Minister for Digital Development
Singapore Launches Updated Operational Technology Cybersecurity Masterplan Read More »
The Ministry of Sustainability and the Environment (“MSE“) and the Singapore Food Agency (“SFA“) will be introducing the Food Safety
In July 2024, the Indonesian Constitutional Court handed down a decision that extended the non-use period of trademarks from three years to five years.
Trademark Rules Update: Non-Use Period Extended to Five Years Before Potential Deletion Read More »
On 6 August 2024, the Ministry of Information issued Prakas No. 085 Br.K.P.M on the Implementation of Charter for Professional Journalism, which came into force on the same date.
Prakas on the Implementation of Charter for Professional Journalism Read More »
On 23 July 2024, the Ministry of Information issued Prakas No. 084 on Determination of Formalities, Procedures, and Rules on the Management of Advertisement of Alcoholic Products.
Artificial Intelligence (“AI”), while holding great potential for efficiency and innovation, also carries certain inherent threats such as vulnerability to cyber security risks.
Public Consultation on Proposed Guidelines to Secure AI Systems Read More »
On 26 July 2024, the Monetary Authority of Singapore announced that it will implement: (i) refinements to the tier structure requirements together with certain exclusions from the same; and (ii) remuneration prohibitions relating to volume-based incentives, for financial advisory firms.
From 15 August 2024 to 14 September 2024, the Monetary Authority of Singapore (“MAS“) conducted a public consultation on its
The Monetary Authority of Singapore issued a consultation paper seeking comments on its proposals to: (i) simplify the leverage requirements for real estate investment trusts (“REITs”); and (ii) require REITs to perform and disclose sensitivity analyses on the impact of changes in EBITDA and interest rates on their interest coverage ratio (ICR) in their interim financial results and annual reports
In July 2024, the Minister of Finance issued Minister of Finance Regulation No. 48 of 2024 on the Imposition of Safeguard Import Duty on Imports of Fabric Products and Minister of Finance Regulation No. 49 of 2024 on the Imposition of Safeguard Import Duty on Imports of Carpets and Other Floor-Covering Textile Products.
New Regulation on Safeguard Import Duty Seeks to Protect the Domestic Textile Industry Read More »
The Intellectual Property Office of Singapore (“IPOS“) has issued Circular No. 3/2024: Simplified Requests for Examination Reports and Other Legislative
IPOS Introduces Simplified Process for Requesting Examination Reports Read More »
In late July 2024, the Indonesian government released a draft Presidential Regulation on Legal Compliance in the Formation and Implementation of Law.
Mandatory Legal Audit is Set to Shake Business Practice Read More »
On 26 July 2024, the Monetary Authority of Singapore issued the Circular titled “Establishing the Sources of Wealth of Customers” (Circular No.: AMLD 08/2024).
Under section 11 of the Competition Act 2010, the Malaysia Competition Commission may conduct a review into any market in order to determine whether any feature or combination of features of the market prevents, restricts or distorts competition in the market.
More than two decades since the Rules of Criminal Procedure were last amended, the Supreme Court is revisiting the Rules through the CrimPro Revision Project to streamline criminal court processes and current procedures, integrating relevant case doctrines and other procedural rules that developed over time.
Supreme Court Seeks to Modernise the Rules of Criminal Procedure Read More »
On 9 August 2024, the ASEAN Taxonomy Board (“ATB“) released the ASEAN Taxonomy for Sustainable Finance, Supplementary Document: Foundation Framework
When a principal engages an agent to bring about a transaction, many would reasonably assume that to claim their commission, the agent should have been the effective cause of, or minimally have done some work on, the transaction
The Guidelines on Licensing for Payment Service Providers (PG-G01) issued by the Monetary Authority of Singapore were revised recently to include new requirements for licence applications under the Payment Services Act 2019.
Updates to the Regulatory Framework for Social Media and Internet Messaging Services in Malaysia – New Licensing Requirements
On 6 August 2024, the Building Control (Amendment) Bill (“Bill“) was introduced in Parliament. The Bill was subsequently passed by
On 20 August 2024, the Building and Construction Authority (“BCA“) issued a Consultation Paper titled “Proposed Enhancements to Regulatory Regime for
On 6 August 2024, the Energy Transition Measures and Other Amendments Bill (“Bill“) was introduced for First Reading in Parliament,
Food wastage and food insecurity are growing issues in Singapore. To provide a remedy to these twin problems, the Good
We are pleased to present our 2nd Regional Competition Bites for 2024. The second quarter has seen extensive enforcement action, increased merger reviews across a larger number of countries and significant regulatory and policy developments across Southeast Asia.
Regional Competition Bites Q2 2024 Read More »
On 5 August 2024, the Monetary Authority of Singapore (“MAS“) published a Consultation Paper on Proposed Measures in Relation to the
MAS Proposes to Continue Suspending Use of Non-specified Channels for PRC Remittances Read More »
On 31 July 2024, the Singapore Economic Development Board (EDB) and IETA (formerly the International Emissions Trading Association) announced the
Singapore and the United States (“US“) have announced the conclusion of a bilateral Digital Economic Cooperation Roadmap (“Roadmap“) on 31
Singapore and US to Pursue Greater Collaboration in Digital Economic Cooperation Roadmap Read More »
On 1 August 2024, phase two of the Criminal Procedure (Miscellaneous Amendments) Act 2024 (“Amendment Act“) came into effect. The
On 31 July 2024, the Senate (or Dewan Negara) approved the Personal Data Protection (Amendment) Bill 2024, which was introduced by the Digital Minister Gobind Singh earlier in July.
On 31 July 2024, the Monetary Authority of Singapore (“MAS”) published the “Consultation Paper on Proposed Legislative Amendments to the Requirements for Enhancing Pre and Post-Transaction Safeguards for Retail Clients” (“Consultation Paper”).
The Personal Data Protection Commission (“PDPC”) has launched a Proposed Guide on Synthetic Data Generation (“Guide”) to help organisations understand Synthetic Data (“SD”) generation techniques and potential use cases. The Guide will be offered as a resource within the Privacy Enhancing Technology (“PET”) Sandbox.
PDPC Launches Proposed Guide to Synthetic Data Generation Read More »
On 1 July 2024, the Bank for International Settlements (“BIS”) and partners announced the completion of phase 3 of Project Nexus, which will allow ready participants to work towards the next stage of seamlessly connecting their instant payment systems (“IPS”).
In Foreland Singapore Pte. Ltd. & Anor v IG Asia Pte. Ltd. [2024] SGHC 179, the Court considered a claim for notional profits earned by the two plaintiffs (collectively, “Foreland”) on certain closing nickel contract-for-differences (CFD) trades (“FCTs”) done on 8 March 2022 following an extraordinary surge in nickel prices, which the defendant (“IGA”) had automatically put through to its central risk management entity (“IGM”) in London.
After much anticipation, the Government of Malaysia (through the Ministry of Energy Transition and Water Transformation) had, on 26 July 2024, announced the introduction of the Corporate Renewable Energy Supply Scheme.
In an attempt to simplify the tax framework in Indonesia, the Director General of Tax has issued DGT Regulation No. PER-6/PJ/2024 to merge the individual tax ID numbers (Nomor Pokok Wajib Pajak or NPWP) with the national ID (Kartu Tanda Penduduk or KTP) number (called Nomor Induk Kependudukan or NIK).
National ID Number Replaces NPWP Read More »
The Ministry of Trade and Industry (“MTI”) announced the conclusion of negotiations on the European Union (“EU”)-Singapore Digital Trade Agreement (“EUSDTA”) on 25 July 2024.
On 16 July 2024, the Royal Government of Cambodia issued Sub-Decree No. 160 on the Establishment of a Special Unit on Tax Audit under the General Department of Taxation of the Ministry of Economy and Finance.
Sub-Decree on Establishment of a Special Unit on Tax Audit Read More »
In June 2024, the Ministry of Law and Human Rights passed the Ministry of Law and Human Rights Regulation No. 15 of 2024 on the Management of Royalties for Secondary Licensing of Copyright of Books and Other Literary Works.
New Regulation on Royalties of Books: A Victory for Authors Read More »
On 18 January 2024, Singapore and Malaysia signed the Mutual Recognition Arrangement (“MRA”) of Authorised Economic Operator (“AEO”) programmes (see the Singapore Customs’ press release dated 23 January 2024 titled “Certified Companies to Enjoy Reduced Customs Checks for Goods Traded between Singapore and Malaysia”).
Over the past decades, India has seen arbitration grow in prominence as a preferred dispute resolution mechanism
On 15 May 2024, the Government issued Decree No. 52/2024/ND-CP on non-cash payments, replacing the former Decree 101/2012/ND-CP on the same subject.
Decree No. 52/2024/ND-CP on Non-Cash Payments Read More »
On 16 May 2024, the Government issued Decree No. 55/2024/ND-CP guiding certain articles of the Law on Consumer Rights Protection
Decree No. 55/2024/ND-CP Guiding the Law on Consumer Rights Protection Read More »
On 1 July 2024, the Ministry of Public Security issued the draft Law on Data for public consultation
In Re: Xerxes J Medora [2024] SGHC 196, the Singapore Court considered a novel question on the administration of bankruptcy estates: is a claim against a bankrupt for breach of fiduciary duty a provable debt in bankruptcy?
In Banque de Commerce et de Placements SA, DIFC Branch & Anor v China Aviation Oil (Singapore) Corporation Ltd [2024] SGHC 145, the Singapore High Court considered a claim based on a letter of credit (“LC”), in which a branch of the bank issuing the LC sought to claim against the beneficiary of the LC for moneys paid out under the LC, alleging that the underlying transaction was a sham transaction.
On 31 May 2024, at the Asia Tech x Singapore (ATxSG) 2024, Singapore’s Minister for Communications and Information, Mrs Josephine Teo, launched the AI Verify Project Moonshot (“Project Moonshot”), an easy-to-use testing toolkit designed to address security and safety challenges often associated with the use of large language models (“LLMs”). It is one of the world’s first open-sourced tools to bring together red-teaming, benchmarking, and baseline testing in one platform.
From 1 January 2025, companies that import or export waste electrical and electronic equipment (“WEEE”) and its components (“e-waste”), or whose e-waste transits through Singapore, will be required to (i) carry out the Prior Informed Consent (“PIC”) procedure specified under the Basel Convention, and (ii) obtain a Basel Permit from the National Environment Agency’s (“NEA”) Chemical Control and Management Department (“CMCD”), which serves as the competent authority (“CA”) for Singapore under the Basel Convention.
On 24 June 2024, the Ministry of Trade and Industry (“MTI”) and the Energy Market Authority (“EMA”) issued their Consultation Outcome following a consultation exercise that ran from 8 May to 5 June 2024.
The Bioethics Advisory Committee (“BAC”) has launched a public consultation on the ethical, legal, and social issues arising from Human Nuclear Genome Editing (“HNGE”). The public consultation runs from 3 June 2024 to 13 August 2024.
On 12 June 2024, the Monetary Authority of Singapore (“MAS”) and the Bank for International Settlements (“BIS”) announced that through Project Viridis, they have developed a blueprint for a climate risk platform that financial authorities can use to draw nascent insights on climate-related financial risks faced by financial institutions as well as potential systemic stability.
MAS & BIS Innovation Hub Create Blueprint Climate Risk Platform to Manage Climate Risks Read More »
On 20 June 2024, the Monetary Authority of Singapore (“MAS”), Ministry of Finance (“MOF”), and Ministry of Home Affairs (“MHA”) published the updated Money Laundering (“ML”) National Risk Assessment (“ML NRA 2024”).
With effect from 1 July 2024, couples can opt to cite divorce by mutual agreement (“DMA”) as a sixth fact of divorce as the relevant sections of the Women’s Charter (Amendment) Act 2022 (“Act”) have now come into force.
Divorce by Mutual Agreement Available as New Fact of Divorce from 1 July 2024 Read More »
On 27 June 2024, the Monetary Authority of Singapore (“MAS”) announced that it is expanding its initiatives to scale asset tokenisation for financial services.
The Misuse of Drugs Act 1973 (“MDA”) and the Constitution of the Republic of Singapore (“Constitution”) were amended by the Misuse of Drugs (Amendment) Act 2023 (“MDA Amendment Act”) and the Constitution of the Republic of Singapore (Amendment) Act 2021 (“Constitution Amendment Act”), respectively (see the Misuse of Drugs (Amendment) Bill and the Constitution of the Republic of Singapore (Amendment) Bill).
New Legislative Framework for Psychoactive Substances Not Scheduled as Controlled Drugs Read More »
On 15 July 2024, the Singapore Exchange Regulation (“SGX RegCo”) issued a Regulator’s Column titled “Potential scenarios when general offers lead to loss of public float” (“Column”).
SGX RegCo Sets Out Potential Scenarios Where General Offers Lead to Loss of Public Float Read More »
In Kiri Industries Limited v Senda International Capital Limited & Anor [2024] SGHC(I) 15, the Singapore International Commercial Court (“SICC”) upheld the principle that when a Chinese national resident in the People’s Republic of China (“PRC”) is to be examined under an examination of judgment debtor order (“EJD Order”), the relevant treaty procedure should be followed, rather than by allowing the EJD Order to be served on him out of jurisdiction in the PRC.
As part of efforts to strengthen Singapore’s anti-money laundering regime, the Accounting and Corporate Regulatory Authority has introduced a number of legislative amendments to the corporate compliance framework, which were passed in Parliament on 2 July 2024.
ACRA Enhances Corporate Compliance Regime to Combat Money Laundering Read More »
On 12 July 2024, the Beverage Container Return Scheme (“Scheme”) under the new Part 4B of Resource Sustainability Act 2019, as introduced by the Resource Sustainability (Amendment) Act 2023, came into force.
Beverage Container Return Scheme in Force Pursuant to Resource Sustainability Act 2019 Read More »
On 10 July 2024, Digital Minister Gobind Singh tabled the long-awaited Personal Data Protection (Amendment) Bill 2024 for its first reading before the Dewan Rakyat (or House of Representatives).
On 19 June 2024, the Singapore Exchange Regulation issued the “Guidance Note on Change of Auditors” setting out its approach towards assessing an application by an issuer listed on SGX-ST (“issuer”) for a change of auditors (“Application”).
SGX RegCo Issues Guidance Note and New Checklist for Change of Auditors Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Forecast Foreign Investment Policy in Vietnam; (ii) Extended Deadline for Payment of Corporate Income Tax, Personal Income Tax, Value Added Tax and Land Rental in 2024; and (iii) Consolidated Regulation on Tax Administration.
Tax & Customs Alert – July 2024 Read More »
On 9 July 2024, Singapore and Lao PDR signed a Memorandum of Understanding (“MOU”) to collaborate on carbon credits aligned to Article 6 of the Paris Agreement.
Mandatory climate reporting requirements are set to commence in a phased approach from financial year (“FY”) 2025, as announced by Second Minister for Finance, Mr Chee Hong Tat, at the Ministry of Finance Committee of Supply speech in February 2024.
Amendments to the licensed general builder and licensed specialist builder framework are set to come into operation on 15 June 2024.
On 2 August 2023, Parliament passed the Oaths, Declarations and Notarisations (Remote Methods) Act 2023 to, among other things, provide individuals, businesses, and service providers who are executing statutory declarations, with the option of remote witnessing (in place of an in-person meeting) and electronic signing (in place of wet-ink signing) as long as both the declarant and service provider are physically present in Singapore.
Digital Minister, Gobind Singh, has announced that the Cabinet has approved the proposed amendments to the Personal Data Protection Act 2010.
On 1 March 2024, the revised Free Trade Zones (“FTZ”) regime took effect. Singapore Customs has now issued Circular No: 03/2024 which provides updates and more information on the submission requirements of the Bill of Lading (“BL”) data for both containerised and non-containerised sea cargo, and clarifications to frequently asked questions pertaining to the submission of BL data.
On 6 August 2024, the Anti-Money Laundering and Other Matters Bill (“AML Bill”) was introduced for Second Reading in Parliament and was passed
Alternative dispute resolution (ADR) has become an important way to resolve various types of disputes outside of the court system in Cambodia.
On 6 August 2024, the Land Surveyors (Amendment) Bill 2024 (“Bill”) was passed in Parliament.
In June 2024, the Minister of Finance (“MOF”) issued an update on the regulation governing export duties through MOF Regulation No. 38 of 2024 on Determination of Exported Goods Subject to Export Duty and Export Duty Rates (“New Regulation”).
Provisions on Duties for Metal Minerals Updated: What to Look Out for Read More »
Starting from May 2024, public investors in Indonesia enjoy greater transparency of information on potentially problematic listed companies and/or issuer of bonds or sukuk.
Understanding the Latest Changes in IDX’s Delisting and Relisting Rule Read More »
In February 2024, a suite of tax measures was announced in Singapore’s Budget 2024, including the upcoming implementation of Pillar Two of the Base Erosion and Profit Shifting 2.0 on 1 January 2025.
The Significant Investments Review Act 2024 (“Act”), which came into force on 28 March 2024, sets out a new investment management regime that applies to both local and foreign investors for entities that are critical to Singapore’s national security interests.
On the Cutting Edge of AI Governance – Singapore Launches Model AI Governance Framework for Generative AI, Develops Digital Forum of Small States AI Governance Playbook
Data centres have seen a boom due the world’s growing reliance on cloud-based technology and consumption of online content.
The Rise of Johor as a Data Centre Hub Read More »
In its landmark decision in Decision 03/2023/KN-KDTM, the Supreme People’s Court of Vietnam, the country’s apex court, recognised and enforced an arbitral award issued under the 2017 Rules of Arbitration of the International Chamber of Commerce (ICC Rules).
On 30 May 2024, the Monetary Authority of Singapore updated the “Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers”.
On 30 May 2024, at the ATxSummit, Deputy Prime Minister Mr Heng Swee Keat launched the Green Data Centre (“DCs”) Roadmap to guide digital sustainability and to chart green growth pathways for DCs.
Singapore’s Green Data Centre Roadmap – Carving a Route for a Sustainable Digital Future Read More »
In June 2024, the House of Representatives ratified the draft law governing the welfare of mothers and children.
Redefining Maternity Leave under the New Mothers and Children Draft Law Read More »
Amendments to the licensed general builder and licensed specialist builder framework are set to come into operation on 15 June 2024.
Amendments to Licensed Builder Framework to Come into Operation on 15 June 2024 Read More »
Following the coming into force of the amendments to the Occupational Safety and Health Act 1994 (“OSHA”), and the Occupational Safety and Health (Plant Requiring Certificate of Fitness) Regulations 2024 and the Occupational Safety and Health (Licensed Person) Order 2024, on 1 June 2024, the Minister of Human Resources has further made two new regulations under the OSHA, one of which is the Occupational Safety and Health (Construction Work) (Design and Management) Regulations 2024.
On 31 May 2024, the Malaysia Digital Economy Corporation, with the support of the Ministry of Digital and the Ministry of Finance, has introduced a new outcome-based tax incentive scheme for eligible Malaysia Digital Status (formerly known as Multimedia Super Corridor Status) companies.
New Malaysia Digital Tax Incentive for Technology Investments in Malaysia Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) VAT Refund for Export; (ii) Personal Income Tax policy on benefits to employees; and (iii) Personal Income Tax policy on overseas profit remittance.
Tax & Customs Alert – June 2024 Read More »
The Competition and Consumer Commission of Singapore is seeking public feedback on its proposed recommendation to renew the Competition (Block Exemption for Liner Shipping Agreements) Order for five years from 1 January 2025 to 31 December 2029.
In Re Mingda Holding [2024] SGHC 130, the liquidator (“Liquidator”) of Mingda Holding Pte Ltd (“Mingda”) identified suspicious transactions between Mingda and some of its creditors (i.e. Orient Nickel Pte Ltd (“Orient”) and Mr Yang Mingdong (“Mr Yang”)) shortly before and after Mingda was placed into winding up.
In Nicholas Eng Teng Cheng v Government of the City of Buenos Aires [2024] SGCA 15, the Singapore Court of Appeal considered the proper law to determine whether to lift the corporate veil of a Singapore-incorporated company that entered into a contract governed by foreign law – is it the law of incorporation or the governing law of the contract?
In this Sustainability Update, we explore briefly the issues surrounding a particular type of backsheet material, commonly used in solar panels, which has given rise to quality issues and purchasers’ potential legal recourses.
The Competition and Consumer Commission of Singapore is seeking public feedback on its proposed recommendation to renew the Competition (Block Exemption for Liner Shipping Agreements) Order for five years from 1 January 2025 to 31 December 2029.
On 7 May 2024, the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill and the Corporate Service Providers Bill were introduced in Parliament for their first reading.
The Accounting and Corporate Regulatory Authority (Registry and Regulatory Enhancements) Bill was introduced in Parliament for its first reading on 7 May 2024.
ACRA (Registry and Regulatory Enhancements) Bill Introduced in Parliament Read More »
When seeking to resolve a dispute, parties generally aim for a full and final resolution to the dispute. In arbitration, this takes the form of a final arbitral award.
On 10 May 2024, the provisions in the Financial Services and Markets Act 2022 (“FSMA”) which empower the Monetary Authority of Singapore (“MAS”) to impose harmonised technology and risk management (“TRM”) requirements on all financial institutions (“FIs”) took effect.
In Singapore, specified financial institutions which are licensed in Singapore and significant derivatives holders are subject to reporting obligations relating to over-the-counter derivatives contracts provided in Part 6A of the Securities and Futures Act 2001 (“OTC Derivatives Reporting Regime”), unless they are exempted. Details of the reporting obligations are set out in the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 (“SF(RDC)R”).
Changes to the OTC Derivatives Reporting Regime Commencing on 21 October 2024 Read More »
On 1 May 2024, the Prevention of Proliferation Financing and Other Matters Act 2024 (“Act”) came into operation.
Environmental crimes, such as illegal wildlife trafficking and illegal logging, disrupt and harm our environment and eco-system with far-reaching and long-term impact for future generations.
Singapore Issues Environmental Crimes Money Laundering National Risk Assessment Read More »
The Digital Enterprise Blueprint (“DEB”) was launched at Asia Tech x Singapore 2024 on 29 May 2024 by Mr Tan Kiat How, Senior Minister of State for Communications and Information.
Launch of Singapore’s Digital Enterprise Blueprint and Other AI Initiatives Read More »
On 8 May 2024, the Ministry of Trade and Industry (“MTI”) and Energy Market Authority (“EMA”) announced that they are seeking public feedback on the proposed legislative amendments to the Energy Market Authority of Singapore Act 2001, Electricity Act 2001 (“Electricity Act”), and Gas Act 2001 (“Gas Act”).
On 12 April 2024, the Ministry of Commerce issued Prakas No.95 on Unfair Practices in Business in Relation to Advertisements and Sale Promotions. It aims to define some unfair practices that are not stipulated in the Law on Consumer Protection dated 2 November 2019 and to protect the rights and interests of consumers.
Unfair Practices in Business in Relation to Advertisements and Sale Promotions Read More »
On 26 April 2024, the Securities and Futures (Corporate Governance of Approved Exchanges, Approved Clearing Houses, Licensed Trade Repositories and
On 23 April 2024, the Singapore Exchange Regulation issued a Consultation Paper on “Facilitating Shareholder-Requisitioned Meetings” to seek feedback on its proposed changes to the SGX-ST Listing Rules (Mainboard) and SGX-ST Listing Rules (Catalist).
In DGE v DGF [2024] SGHC 107, the claimant DGE advanced eight grounds for setting aside an arbitral award in the defendant DGF’s favour, that the photovoltaic modules (solar panels) supplied by DGE were inherently defective. The High Court dismissed each of these grounds in declining to set aside the award.
In March 2024, the Anti-Money Laundering Council proposed regulatory actions for the implementing rules and regulations of the Anti-Money Laundering Act and the Terrorism Financing Prevention and Suppression Act of 2012.
AML Council Strengthens Philippines’ Position Against Money Laundering Read More »
Merger notifications in Singapore are necessary where thresholds are close to being or are crossed. A failure to notify can result in investigations and if a substantial lessening of competition (SLC) is found, penalties and remedies can be imposed.
Topline Competition: Notifying a Merger in Singapore – When and What are the Triggers? Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Foreign Investment Protection Measures; (ii) Application of VAT Rate to Goods; and (iii) Amendments to VAT Regulations – Update.
Tax & Customs Alert – May 2024 Read More »
The Guide for Cross-Border Electricity Sales (“CBES Guide”) was first issued by the Energy Commission on 31 December 2020 to facilitate the cross-border electricity sales between Peninsular Malaysia and Singapore or Thailand. The CBES Guide was revised on 25 October 2021, imposing prohibition of export of renewable energy to Singapore.
Energy Exchange Malaysia and Cross-Border Electricity Sales of Renewable Energy Read More »
On 29 April 2024, the Ministry of Home Affairs (“MHA“) announced that the amendments to the Societies Act 1966 (“Act“)
Amendments to Societies Act 1966 Take Effect to Strengthen Oversight, Adjust Penalties Read More »
In our first Regional Competition Bites for 2024, we continue to see important regulatory developments unfolding across Southeast Asia. Malaysia is finally set to introduce merger control legislation in parliament this year, while the Philippines has raised mandatory merger notification thresholds.
Regional Competition Bites Q1 2024 Read More »
For several years, the Indonesia Competition Authority (KPPU) has diligently focused on micro, small, or medium enterprise (MSME) partnerships. The recent issuance of a new regulation in this field underscores their unwavering commitment to this area.
Potential Challenges under the New KPPU Regulation to Supervise Partnerships Read More »
The Free Trade Zones (Amendment) Act 2023 (“Amendment Act“) and related subsidiary legislation came into operation on 1 March 2024.
The Indonesian government enacted two regulations for the gaming industry in early 2024. These regulations, which we will discuss in this alert, put the gaming industry under the spotlight and solidify the government’s commitment in revitalising Indonesia’s gaming industry.
Ready, Set, Go! Updates to Indonesia’s Gaming Industry Read More »
Charities and Institutions of a Public Character (IPCs) (collectively, “Charities“) must adapt to changing environments and manage risks amid global
On 18 January 2024, the National Cyber Security Committee of Thailand published two important subordinate laws on cybersecurity under the Cybersecurity Act 2019, which will take effect on 18 January 2025.
New Cybersecurity Subordinate Laws Read More »
The Ministry of Law (“MinLaw“) and the Intellectual Property Office of Singapore (“IPOS“) are seeking comments on situations in which
Public Consultation on Prescribed Exceptions to Access Control Measures Read More »
The Ministry of Trade and Industry (“MTI“) has issued a public consultation to obtain feedback on the General Review of
In February 2024, the Constitutional Court handed down a decision that extended the meaning of “business premises” (tempat perdagangan) in Article 10 of the Copyright Law (Law No. 28 of 2014).
In a much-needed step to clarify the new normal, on 16 April 2024, the Ministry of Manpower launched the Tripartite Guidelines on Flexible Work Arrangement Requests (FWA Guidelines).
On 4 April 2024, the Payment Services (Amendment) Act 2021 came into effect, revising the Payment Services Act 2019 in these main areas: (i) broadening the definition of “digital payment token” (“DPT”) services; (ii) widening the definition of “cross-border money transfer” services; and (iii) empowering the Monetary Authority of Singapore to impose additional measures to regulate DPT service providers to enhance consumer protection and maintain financial stability.
In the past several months, the Minister of Trade has issued two new regulations on imports. First, in December 2023, the Ministry enacted Ministry of Trade Regulation No. 36 of 2023 on Import Policies and Provisions, which came into effect on 10 March 2024
A Brief Summary of Indonesia’s New Regulations on Imports Read More »
The Cyber Security Agency of Singapore has introduced the Cybersecurity (Amendment) Bill to keep pace with emerging threat factors and operational practicalities.
On 1 April 2024, the Monetary Authority of Singapore launched COSMIC (Collaborative Sharing of Money Laundering / Terrorism Financing Information & Cases), the first centralised digital platform to facilitate the sharing of customer information among prescribed financial institutions to combat money laundering, terrorism financing, and proliferation financing globally.
Introduced in 2019, InvoiceNow is a nation-wide e-invoicing network which enables businesses to easily send and receive invoices in a
The Occupational Safety and Health Act 1994 establishes the legal framework relating to the occupational safety and health in Malaysia.
Key Changes to the Occupational Safety and Health Legislation in Malaysia Read More »
On 15 April 2024, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, announced that
On 28 March 2024, the Monetary Authority of Singapore issued its Response to feedback received on the Consultation Paper on the Repeal of Regulatory Regime for Registered Fund Management Companies (RFMCs).
The facts of DDI v DDJ [2024] SGHC 68 (“DDI”) are eye-catching, with a mix of drama-worthy elements – jewellery of uncertain origins, celebrities of uncertain bankability, and a billionaire uncle of uncertain existence.
In an age where commercial disputes frequently span multiple jurisdictions, litigants may find themselves seeking to obtain the participation of parties located abroad, or to obtain evidence from parties in foreign jurisdictions..
When a former employee leaves his erstwhile employer to join a rival company, should the erstwhile employer be allowed to maintain the interim injunctions it obtained against the former employee, on the basis of a non-compete clause and a confidentiality clause (in the employment contract between the former employee and the erstwhile employer)?
Analysing Interim Injunctions in the context of Restraint of Trade Clauses Read More »
The Mental Capacity (Amendment) Bill (“Bill”) was introduced in Parliament on 6 March 2024, and had its second reading on 2 April 2024.
Validation of Electronic Record of Lasting Power of Attorney Read More »
On 22 March 2024, the Cyberspace Administration of China published the long-awaited Regulations on Promoting and Regulating the Cross-border Data Flow (《促进和规范数据跨境流动规定》), which came into immediate effect.
China Relaxes Rules on Cross-Border Data Flow Read More »
Tax liability insurance products fully or partially indemnify the insured’s tax risks, offering coverage for scenarios such as tax liabilities imposed by tax authorities, defence costs against tax claims, and gross-up taxes on proceeds.
Tax Liability Insurance in Singapore: Benefits, Trends, and Challenges Read More »
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
Starting on 28 August 2024, shareholders of a public company will be subject to a potentially game-changing set of requirements on the reporting of ownership or changes in ownership of a public company’s shares and encumbrances of a public company’s shares.
Navigating the Change in Share Ownership Reporting under OJK Regulation No. 4 of 2024 Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Update to the Global Minimum Tax (GMT) Implementation & Potential Tax Reforms; and (ii) Consolidated Regulation on Certificates of Origin.
Tax & Customs Alert – April 2024 Read More »
The National Environment Agency (“NEA“) recently sought feedback on the proposed transboundary movement control of electronic wastes. The proposal follows
From 28 March 2024 to 29 April 2024, the Monetary Authority of Singapore (“MAS“) conducted a consultation on the Proposed
MAS Proposes to Impose AML/CFT Requirements on Organised Market Operators in Singapore Read More »
Following the announcement by the Ministry of Energy Transition and Water Transformation (“PETRA”) in January 2024, the Energy Commission had on 1 April 2024 issued the following documents (in Bahasa Malaysia) relating to the fifth competitive bidding round for the Large Scale Solar (“LSS”) programme, also known as LSS-Peralihan Tenaga SuRiA (LSS PETRA),
Large Scale Solar Photovoltaic Plant – Fifth Competitive Bidding Round (LSS PETRA) Read More »
On 27 March 2024, the ASEAN Taxonomy Board (“ATB“) announced the release of the ASEAN Taxonomy for Sustainable Finance Version
On 27 March 2024, the Ministry of Energy Transition and Water Transformation announced a special incentive known as the Solar for Rakyat Incentive Scheme (“SolaRIS”).
Solar for Rakyat Incentive Scheme (SolaRIS) Read More »
In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10, the Court of Appeal upheld the
The Personal Data Protection Commission (“PDPC“) has issued the Advisory Guidelines on the PDPA for Children’s Personal Data in the
PDPC Issues Advisory Guidelines on Children’s Personal Data in the Digital Environment Read More »
On 28 March 2024, the Significant Investments Review Act 2024 (“Act”) and subsidiary legislation under the Act, the Significant Investments Review Regulations 2024 and Significant Investments Review (Reviewing Tribunal) Rules 2024, came into force.
Significant Investments Review Act 2024 Takes Effect on 28 March 2024 Read More »
Many Singapore Exchange Securities Trading Limited (“SGX-ST”) listed issuers have their financial year-end in December, and the peak period in which issuers schedule their annual general meeting (“AGMs”) typically is the second half of April (two weeks preceding the deadline in April for holding of AGMs).
The Business Trusts (Amendment) Act 2022 contains changes to the Business Trusts Act 2004 which governs the registration and regulation of registered business trusts (BTs).
On 25 March 2024, the long-awaited Cyber Security Bill 2024 (“Bill”) was tabled in Parliament by the Minister of Digital, Gobind Singh Deo
Upcoming Cyber Security Act: What You Need To Know Read More »
The AML/CFT Industry Partnership, led by the Association of Banks in Singapore (“ABS”), has published the Industry Perspectives on Best Practices – Leveraging on Data Analytics and Machine Learning Methods for AML/CFT (“Paper”).
On 26 January 2024, the Ministry of Energy Transition and Water Transformation (PETRA) has introduced the new Low Carbon Energy Generation Programme as one of the Government’s initiatives in achieving the goals outlined in National Energy Transition Roadmap.
Low Carbon Energy Generation Programme Read More »
In July 2023, the Financial Services Authority (“OJK”) issued OJK Regulation No. 11 of 2023 to regulate the spin-off of sharia units of insurance and reinsurance companies.
OJK Regulation Mandates Spin-Off of Sharia Insurance Units Read More »
In Alternative Advisors Investment Pte Ltd v Asidokona Mining Resources Pte Ltd & Anor [2024] SGCA 3, the Singapore Court of Appeal (comprising Sundaresh Menon CJ, Steven Chong JCA and Belinda Ang JCA) considered an “unusual” and “unique” case with “several layers of complexity” in relation to the doctrine of ratification.
Court of Appeal Determines Complex Questions on Ratification of Contracts Read More »
Modern day commercial transactions are typically executed by agents (usually, directors) on behalf of their principals.
Ratification – Not Always a Magic Bullet Read More »
On 22 March 2024, the Singapore Exchange Regulation Pte. Ltd. (“SGX RegCo”) issued a Consultation Paper on its proposals to revise existing limits on the liability of clearing members to meet default losses, particularly where losses arise from multiple events of default (“multiple defaults”).
On 20 March 2024, the Monetary Authority of Singapore (“MAS”) issued Circular No. ID 05/24 on its Response to feedback (“Response”) received on the Consultation Paper on Amendments to the Insurance Act 1966 (“IA”) and the Insurance (Intermediaries) Regulations (“IIR”) (“Consultation Paper”).
On 15 March 2024, the Ministry of Manpower issued Circular Letter No. M/2/HK.04/III/2024 on the implementation of THR (tunjangan hari raya) or religious holiday allowance for 2024 (“Circular”). In general, the contents of this Circular do not contain anything new or contrary to Minister of Manpower Regulation No. 6 of 2018 on Religious Holiday Allowances for Workers in Companies and other prevailing laws and regulations related to labour.
On 12 March 2024, the Ministry of Finance and the Accounting and Corporate Regulatory Authority jointly issued a consultation on: (i) the draft Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill; and (ii) the new draft Corporate Service Providers Bill
The Ministry of Sustainability and the Environment (“MSE”) and the Singapore Food Agency (“SFA”) will be introducing the Food Safety and Security Bill (“Bill”) which aims to enhance Singapore’s food safety and security regime and safeguard food supply resilience.
In January 2024, the Ministry of Energy and Mineral Resources (“MEMR”) enacted MEMR Regulation No. 2 of 2024 to replace and revise MEMR Regulation No. 26 of 2021.
Adjustment to the Rooftop Solar System Regulation: A Step Back for Indonesia? Read More »
On 28 February 2024, the Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation (“SGX RegCo”) announced details of mandatory climate-related disclosure for: (1) issuers listed on the SGX-ST (“listed issuers”) from financial year (“FY”) 2025; and (2) large non-listed companies limited by shares with annual revenue of at least S$1 billion and total assets of at least S$500 million (“Large NLCos”) (unless exempted) from FY 2027, as part of a finalised climate reporting and assurance implementation roadmap set out in the Response paper.
The Singapore Exchange Regulation is seeking comments on its proposed changes to the SGX Listing Rules (Mainboard) and SGX Listing Rules (Catalist) to clarify the obligations of issuers listed on SGX-ST undergoing the corporate restructuring process under Insolvency, Restructuring and Dissolution Act 2018 of Singapore, and to streamline the application process for trading resumption by suspended issuers.
The National Council of Social Service (“NCSS”) has launched a public consultation to seek feedback on the Sustainable Philanthropy Framework (“Framework”).
NCSS Seeks Feedback on Sustainable Philanthropy Framework Read More »
On 5 March 2024, the Ministry of Finance and the Accounting and Corporate Regulatory Authority jointly issued a Consultation Paper on “Proposed Legislative Amendments Relating to Digital Communications and Regulatory Enhancements” to seek comments on the draft ACRA (Registry and Regulatory Enhancements) Bill (“Bill”).
The case of Public Prosecutor v Gumede Sthembiso Joel [2024] SGHC 23 involved the illegal transport of rhinoceros horns by the Respondent, for which he was charged with assisting another to retain the benefits from criminal conduct under section 51(1)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.
What Constitutes Benefits from Criminal Conduct? Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Notice on Impact on Tax Treaties Between Vietnam and other Countries; (ii) Tax Exemption for Innovative Startup Enterprises – Special Policies for Ho Chi Minh City; and (iii) Cambodia and Vietnam Special Preferential Tariff.
Tax & Customs Alert – March 2024 Read More »
On 4 March 2024, the Notification of the Ministry of Finance Re: Criteria, Methods, and Conditions of the Application for a Licence and Issuance of a Licence to Operate a Virtual Bank dated 20 February 2024, was published in the Government Gazette.
Thailand’s Virtual Banking Licences: New Guidelines Released Read More »
On 5 March 2024, the House of Representatives approved House Bill No. 9277, which proposes the enactment of Capital Markets Efficiency Promotion Act.
Congress Proposes House Bill No. 9277 to Pave Way for More Competitive Capital Markets Read More »
On 2 April 2024, the Goods and Services Tax (Amendment) Bill (“Bill”) was passed in Parliament.
Passing of Bill to Clarify Imposition of GST on Government Services Read More »
In general, only the parties to an arbitration may participate in proceedings to enforce the resulting arbitral award. Are there exceptions to this? If so, under what circumstances can a third party apply to be added to the enforcement proceedings?
On 4 March 2024, the Ministry of Manpower (“MOM”) announced the next increment in the retirement and re-employment ages effective in 2026.
Raising of Retirement and Re-employment Ages in 2026 Read More »
On 4 March 2024, the Ministry of Manpower (“MOM”) announced updates to its foreign workforce policies.
The Singapore Geospatial Masterplan (2024-2033) (“Masterplan”) was launched on 6 March 2024 at the Geo Connect Asia 2024 opening ceremony by Mr Edwin Tong, Minister for Culture, Community and Youth, and Second Minister for Law.
Launch of Singapore Geospatial Masterplan (2024-2033) Read More »
Competition benefits consumers. However, there may be instances where business competitors need to collaborate for the greater, or greener, good.
On 1 March 2024, the Singapore Personal Data Protection Commission (“PDPC”) published the Advisory Guidelines on the Use of Personal Data in AI Recommendation and Decision Systems (“Guidelines”).
In Logistics Construction Pte Ltd [2024] SGHC 58, the Singapore High Court considered whether a company should be placed under judicial management and whether the judicial manager nominated by the company should be appointed.
In February 2024, the Ministry of Public Security (MPS) had published its proposals to request for the development of a Law on Data and a Law on Personal Data Protection
Proposals for the Development of Law on Data and Law on Personal Data Protection Read More »
The rapid growth of artificial intelligence (“AI”) has shone a light on the pressing need to manage its development and inherent risks.
ASEAN Issues Guide on AI Governance and Ethics Read More »
On 29 February 2024, the Health Sciences Authority issued a public consultation on the proposed amendments to Regulation 23 of the Health Products (Therapeutic Products) Regulations on the registration of therapeutic products.
In the course of bankruptcy proceedings, the disposition of property by the bankrupt is subject to a degree of control and restriction, requiring the consent or ratification of the Court.
The dawn of a new era in artificial intelligence (“AI”) artwork is upon us.
In Farzin Ratan Karma v Helen Campos & 2 Ors [2024] SGHC 41, which centred on issues of conflict in business relationships, the Singapore High Court had to determine a claim for commercially unfair and oppressive acts, as well as a counterclaim for breach of fiduciary duties owed as director
On 19 February 2024, the ASEAN Taxonomy Board shared the updated ASEAN Taxonomy for Sustainable Finance Version 2 (“ASEAN Taxonomy v2”), effective from even date.
On 16 February 2024, Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, delivered the Budget speech in Parliament for the approval of the financial policy of the Government for the financial year 1 April 2024 to 31 March 2025. Several policies were introduced, including changes to the Additional Buyer’s Stamp Duty (“ABSD”) regime, and adjustments to the property tax (“PT”) rates.
Announcements Made at Budget 2024 Regarding Residential Properties Read More »
In the 15th National Assembly meeting (6th session) held on 27 November 2023, the Law on Real Estate Business and the Law on Housing were passed. Following a short postponement due to the complexity of the proposed reforms, on 18 January 2024, the Law on Land was also approved.
The Financial Institutions (Miscellaneous Amendments) Bill 2024 was passed on 7 March 2024 to enhance and streamline the Monetary Authority of Singapore’s investigative, reprimand, supervisory and inspection powers across various MAS-administered Acts governing the financial industry.
Bill Enhancing MAS Investigative, Supervisory and Inspection Powers Passed Read More »
The Budget Statement for Budget 2024 was delivered on 16 February 2024.
Singapore Budget 2024: Building Our Shared Future Together Read More »
The High Court at Kuala Lumpur, in the first-ever decision of its kind, recognised a foreign award made by an arbitral tribunal under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
First Malaysian Judgment Recognising ICSID Arbitration Award Read More »
On 3 January 2024, the Non-Banking Financial Services Authority issued Prakas No. 002 on Formalities and Procedure of Administrative Sanction and Penalties in Trust Sector
Countries and companies are setting aggressive net-zero emission targets, and Indonesia is in top gear in ensuring that carbon capture, and storage (CCS) is available as one of the necessary tools to reach its domestic net-zero target in 2060.
On 8 February 2024, the Ministry of Manpower announced that the compensation limits in the Work Injury Compensation Act will be increased from 1 November 2025.
The Computer Misuse (Amendment) Bill and the Corruption, Drug Trafficking and Other Serious Offences (Confiscation of Benefits) (Amendment) Bill were passed by Parliament on 9 May 2023.
New Offences to Prevent Singpass Abuse and Rash and Negligent Money Laundering Read More »
On 7 February 2024, Enterprise Singapore (“EnterpriseSG”) and the Infocomm Media Development Authority (“IMDA”) launched the Generative Artificial Intelligence (“Gen AI”) Sandbox for small and medium-sized enterprises (“SMEs”).
Singapore’s First Generative AI Sandbox to Allow SMEs to Trial Generative AI Solutions Read More »
Indonesia’s Financial Services Authority or Otoritas Jasa Keuangan (OJK) has enacted several changes on share buyback by public companies.
OJK’s New Rule Tightens Share Buyback and Expands Scope of Disclosure Read More »
On 6 February 2024, the Monetary Authority of Singapore issued the revised MAS Notice PSN05 Notice on Technology Risk Management to extend its application to include all holders of a payment services licence under the Payment Services Act 2019 that carry on a business of providing digital payment token services.
On 15 January 2024, the Non-Banking Financial Services Authority issued Prakas No. 005 on Corporate Governance for Insurance Companies to replace the Prakas No. 185 on Requirements for Corporate Governance dated 20 March 2007.
Prakas on Corporate Governance for Insurance Companies Read More »
The Ministry of Economy and Finance issued Prakas No. 071 on Incentives for Voluntary Rectification of Tax Returns dated 30 January 2024.
Incentives for Voluntary Rectification of Tax Returns Read More »
The Cyber Security Agency of Singapore (“CSA”) has provided an update on the development of an Association of Southeast Asian Nations (“ASEAN”) Regional Computer Emergency Response Team (“CERT”), which aims to enhance collective cybersecurity within the region.
Developing an ASEAN Regional Computer Emergency Response Team Read More »
The updated Joint Guide to ASEAN Model Contractual Clauses and EU Standard Contractual Clauses (“Joint Guide”) was unveiled at the 4th ASEAN Digital Ministers’ Meeting on 2 February 2024.
Updated Joint Guide to ASEAN Model Contractual Clauses and EU Standard Clauses Read More »
From 2 February 2024 to 15 March 2024, the Monetary Authority of Singapore is seeking comments on its proposals to reduce the information financial institutions need to collect when making recommendation of selected life or long-term (LT) accident and health insurance policies based on the Basic Financial Planning Guide,, subject to safeguards.
2023 has shown that the Competition regulators in Southeast Asia are a force to be reckoned with, taking a front-seat in the region.
Regional Competition Report 2023 Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Global Minimum Tax (“GMT”) Introduction & Potential Tax Reforms – Update; (ii) Value-added Tax (“VAT”) Reduction Policy in 2024; and (iii) VAT Reforms – Proposed Changes in a New Law on VAT.
Tax & Custom Alert – February 2024 Read More »
The Financial Services Authority or OJK enacted OJK Regulation No. 23 of 2023 on Business and Institutional Licensing for Insurance Companies, Sharia Insurance Companies, Reinsurance Companies, and Sharia Reinsurance Companies at the end of 2023.
Could 2024 be the Year of Insurance Companies’ Consolidation? Read More »
The Online Criminal Harms Act (“OCHA”), which was passed in Parliament on 5 July 2023, has partially come into force on 1 February 2024, with remaining measures slated to come into effect at a later stage.
Commencement of the Online Criminal Harms Act Read More »
Thailand’s Personal Data Protection Act B.E. 2562 (2019) became fully effective in mid-2022 and, since then, various subordinate laws have been issued to clarify certain provisions
Thailand’s Personal Data Protection Act – A Year in Review 2023 Read More »
When an experienced investor suffers losses after instructing his broker to sell his futures contracts, to what extent can the broker be held liable for his losses?
Singapore High Court Finds Broker Not Liable for Investor’s Decisions Read More »
Malaysia makes promising moves towards achieving net zero greenhouse gas emissions by 2050, in line with global roadmap goals which is in turn embedded in the National Energy Transition Roadmap (NETR).
On 24 November 2023, the National Assembly approved and passed the new Law on Telecommunications No. 24/2023/QH15.
Law on Telecommunications 2023 Read More »
On 24 January 2024, the Infocomm Media Development Authority (“IMDA”) and the Government Technology Agency (“GovTech”) announced a set of digital sustainability initiatives aimed at greening the information and communications technology (“ICT”) sector, as well as utilising ICT to green the rest of the economy.
IMDA and GovTech Launch New Initiatives on Digital Sustainability Read More »
As part of its ongoing efforts to effectively manage the increasing caseloads of the Myanmar Courts, the Supreme Court of the Republic of the Union of Myanmar (USC) introduced a court-led mediation programme (“Mediation Programme”) in March 2019 with the assistance of the Japan International Cooperation Agency (JICA).
Court-led Mediation in Myanmar: Practical Tips for Favourable Outcomes Read More »
The Singapore Sustainable Finance Association (“SSFA”) was launched on 24 January 2024 to bring together the financial sector and industry to achieve Singapore’s transition to net zero.
The Electronic Information and Transaction Law, initially amended in 2016 (“EIT Law”), underwent a significant transformation on 2 January 2024 with the enactment of the government-initiated and second amendment of the EIT Law.
The Revamped Electronic Information and Transaction Law: A New Year’s Transformation Read More »
When a company is being wound up, its liquidators have powers to investigate into the company’s affairs and dealings.
The AI Verify Foundation and the Infocomm Media Development Authority announced on 16 January 2024 that they have developed a draft Model AI Governance Framework for Generative AI (“Draft Framework”).
Singapore Issues Draft Model AI Governance Framework for Generative AI Read More »
On 22 January 2024, the Ministry of Law (“MinLaw”) announced that it will extend the application period for the Simplified Insolvency Programme (“SIP”) by 24 months, from 29 January 2024 to 28 January 2026.
Application Period for Simplified Insolvency Programme Extended to 28 January 2026 Read More »
On 18 January 2024, President Joko Widodo appointed the new commissioners of the KPPU (Komisi Pengawas Persaingan Usaha or the Indonesia Competition Commission) for the 2024-2029 period.
New KPPU Commissioners for the 2024-2029 Period Announced Read More »
Introduction The Asian International Arbitration Centre (“AIAC“) regularly revises its arbitration rules (“AIAC Rules“) to keep up-to-date with modern arbitration
AIAC Arbitration Rules 2023: A Summary of Key Changes Read More »
To wrap up the year 2023 and further to our Regional Trade Mid-year Highlights issued in August last year, we are pleased to present an overview of the various trade law related developments in the region.
Regional Trade Year-end Highlights 2023 Read More »
On 12 January 2024, the Department of Energy issued Department Circular No. DC2024-01-001, also known as the Hydrogen Energy Guidelines, to establish a comprehensive framework for the development and utilisation of hydrogen energy in the Philippines.
DOE Introduces Policy and Framework for Hydrogen Utilisation in the Philippines Read More »
On 16 February 2024, the Inland Revenue Authority of Singapore (“IRAS”) (Amendment) Bill (“Bill”) was passed in Parliament to amend the IRAS Act.
On 5 February 2024, the Criminal Procedure (Miscellaneous Amendments) Bill (“Bill”) was passed in Parliament to introduce several significant amendments to the Criminal Procedure Code (“CPC”).
The Prevention of Proliferation Financing and Other Matters Bill (“Bill”), introduced in Parliament on 9 January 2024, was passed on 6 February 2024.
Prevention of Proliferation Financing and Other Matters Bill Passed Read More »
On 8 January 2024, the Ministry of Health (“MOH”) launched an industry consultation for a new not-for-profit private acute hospital model. Interested private healthcare operators who wished to participate in the consultation were given until 21 January 2024 to register.
MOH Launches Industry Consultation for a New Not-for-Profit Private Acute Hospital Model Read More »
On 9 January 2024, the Significant Investments Review Bill (“Bill”) was read for a second time and passed.
On 20 December 2023, the Non-Banking Financial Services Authority issued a new Prakas No. 067 on Trustees’ Obligations to Report, Notify, and Request for Approval (“Prakas”).
Prakas on Trustees’ Obligations to Report, Notify, and Request for Approval Read More »
2023 was all about Artificial Intelligence or AI; this tech darling’s worldwide rise is poised to continue in 2024. AI’s benefit is well documented as its application continues to evolve.
The Resurgence of Artificial Intelligence Read More »
In November 2023, Indonesia’s Financial Services Authority or OJK (Otoritas Jasa Keuangan) introduced a new implementing regulation on peer-to-peer or P2P lending (which itself is regulated by OJK Regulation No. 10/POJK.05/2022 on Information Technology-Based Collective Financing Services (“P2P Regulation”). The new implementing regulation, Circular Letter No. 19/SEOJK.06/2023 on the Organisation of Information Technology-Based Collective Financing Services regulates the provisions in the P2P Regulation in more detail.
Does a parent’s absence from a child’s life warrant the making of a sole custody order? The case of WMR v WMQ examines the threshold for the making of sole custody orders, in particular, where parental absence is involved.
High Court Examines Threshold for Sole Custody Orders Involving Parental Absence Read More »
In this Update, we highlight the following tax and customs developments in Vietnam: (i) Global Minimum Tax Introduction & Potential Tax Reforms; (ii) Double Tax Agreement between Vietnam and Singapore – Application to Capital Share Transfer in Vietnam Entity; and (iii) Supplements to Vietnam’s Customs Regulations for Period 2022 – 2027 under RCEP.
Tax & Custom Alert – January 2024 Read More »
The Monetary Authority of Singapore (“MAS”) issued Notice 134 Recovery and Resolution Planning for Insurers (“Notice”) which will take effect on 1 January 2025.
The cybersecurity landscape is constantly shifting, with new threat factors emerging at an ever-accelerating rate. To keep Singapore’s legislative framework up to date, the Cybersecurity Agency of Singapore has introduced the draft Cybersecurity (Amendment) Bill.
On 8 December 2023, the People’s Republic of China issued the Draft Administrative Measures on Reporting Cybersecurity Incidents (网络安全事件报告管理办法（征求意见稿）for public consultation.
China’s Newly Released Draft Measures on Reporting Cybersecurity Incidents Read More »
We are pleased to provide you with our 2023 Indonesian Competition Law Kaleidoscope, featuring a flashback of this year’s major developments in the Indonesian competition law sector.
2023 Indonesian Competition Law Kaleidoscope Read More »
作为新加坡最受瞩目的投资移民计划之一，新加坡 “全球商业投资者计划 (Global Investor Programme, ‘GIP计划’) ”自2004年推出以来一直与时俱进，经历了数次改革和调整。
新加坡全球商业投资者计划 (Global Investor Programme) Read More »
Despite ongoing demands for the revision of Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution, which has remained effective for 24 years, no amendments have been made so far.
A New Dawn for Arbitration in Indonesia under Supreme Court Regulation No. 3 of 2023 Read More »
On 19 December 2023, the Ministry of Sustainability and Environment (“MSE”) and the National Environment Agency (“NEA”) published the Eligibility List under the International Carbon Credit Framework (“ICC Framework”), which is effective from 1 January 2024.
On 15 December 2023, the Singapore Exchange Regulation (“SGX RegCo”) issued a regulator’s column titled “What SGX RegCo expects of listed issuers when allotting excess rights shares”, which set out SGX RegCo’s expectations of issuers when allotting excess rights shares in a rights issue.
SGX RegCo Sets Out Expectations of Listed Issuers When Allotting Excess Rights Shares Read More »
Artificial intelligence has been widely employed to enhance productivity, services and products, and customer experiences by financial institutions (“FIs”), and FIs are no doubt familiar with the Monetary Authority of Singapore’s Fairness, Ethics, Accountability and Transparency (FEAT) Principles concerning the responsible use of Artificial Intelligence and Data Analytics (AIDA).
Financial Sector to Expect Generative AI Risk Framework Read More »
The finalised Code of Conduct for ESG Rating and Data Product Providers (“Code”) and an accompanying Checklist for providers to self-attest their compliance to the Code were published by the Monetary Authority of Singapore on 6 December 2023.
MAS Encourages ESG Rating and Data Product Providers to Adopt Code of Conduct Read More »
On 13 December 2023, the Ministry of Health (“MOH”) announced that the Tripartite Workgroup for the Prevention of Abuse and Harassment of Healthcare Workers (“Workgroup”) has launched the Tripartite Framework for the Prevention of Abuse and Harassment in Healthcare (“Framework”).
While the adoption of artificial intelligence (AI) technology by governments and businesses has been swift and widespread, there remain certain barriers to the implementation of AI solutions, particularly in the cross-border context.
At the COP28 Singapore Pavilion Finance Day on 3 December 2023, Monetary Authority of Singapore launched the first version of the Singapore-Asia Taxonomy for Sustainable Finance and a Transition Credits Coalition (TRACTION), among other transition financing initiatives.
The Foreign Interference (Countermeasures) Act (“FICA”) was passed in Parliament in October 2021 to enhance the Government’s ability to prevent foreign interference in domestic politics conducted through: (i) hostile information campaigns (“HICs”); and (ii) the use of local proxies.
From 11 December 2023 to 11 January 2024, the Ministry of Health (“MOH”) conducted a public consultation seeking views on the proposed Health Information Bill (“HIB”).
Ministry of Health Consults on Proposed Health Information Bill Read More »
The Monetary Authority of Singapore (“MAS”) will be imposing requirements on financial institutions (“FIs”) to conduct and respond to reference checks on a minimum set of standardised information.
Most jurisdictions worldwide uphold the concept of open justice, with court proceedings generally being conducted in public by default. Conversely, arbitral proceedings and associated documents are generally subject to the principle of confidentiality, with parties to the arbitration prohibited from disclosing details of the arbitration to third parties.
The Electric Vehicles Charging Bill 2022 was passed in Parliament on 30 November 2022 to regulate the safe charging of electric vehicles (“EVs”), ensure the provision of reliable EV charging services by requiring EV charging operators (“EVCOs”) to be licensed, and to expand the network of accessible charging infrastructure in Singapore.
The meteoric rise of artificial intelligence (“AI”) has been one of the loudest headlines of the past year, with the initial hype quickly translating into real-world impact. As governments and businesses race to fully explore and adopt AI solutions, industry stakeholders have begun looking further into the future of AI.
The Shape of Things to Come – Singapore Unveils National AI Strategy 2.0 Read More »
On 4 December 2023, the Infocomm Media Development Authority (“IMDA”) announced that it would be partnering with AI Singapore and the Agency for Science, Technology and Research to launch the National Multimodal Large Language Model Programme (“NMLP”).
Singapore to Develop Southeast Asia’s First Large Language Model Ecosystem Read More »
As discussed in our previous Client Alert, the Minister of State-Owned Enterprises (“Minister”) has issued the BUMN Omnibus Regulations at
Under the new online platform, Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (“COSMIC”), prescribed financial institutions (i.e. banks in Singapore or financial institutions (other than a bank) that are prescribed under subsidiary legislation) (“prescribed FIs”) can securely share with one another information on a “relevant party” who exhibits multiple “red flags” that may indicate potential financial crime concerns, if stipulated thresholds are met.
MAS Consults on Scope of Risk Information to be Shared on COSMIC Read More »
The Financial Services and Markets Act 2022 was amended earlier this year to, among other things, establish a new electronic
MAS Seeks Feedback on Requirements on FI-FI Information Sharing under COSMIC for AML/CFT Read More »
In Singapore, cryptocurrencies are generally regulated as digital payment tokens (“DPTs”) under the Payment Services Act 2019 (“PS Act”). Currently, DPT service providers are regulated under the PS Act primarily for anti-money laundering and countering the financing of terrorism (AML/CFT) risks, and technology and cyber risks.
On 30 November 2023, the ASEAN Taxonomy Board (“ATB”), representing ASEAN finance sectoral bodies, announced the completion of targeted stakeholder consultation exercises for Version 2 of the ASEAN Taxonomy for Sustainable Finance (“ASEAN Taxonomy”).
ASEAN Taxonomy to be Further Enhanced Following Positive Stakeholder Consultation Read More »
This Update highlights recent tax and custom developments in Vietnam. New Decree on Import Management of Refurbished Goods under CPTPP
Tax & Custom Alert – December 2023 Read More »
The rules surrounding the service of documents aim to ensure that such documents come to the attention of the party
On 24 November 2023, the Ministry of Health (“MOH“) issued a circular announcing the commencement of Phase 3 of the
Phase 3 Implementation of the Healthcare Services Act Commences Read More »
Disagreements as to the existence of contractual terms frequently occur between contracting parties. In Lim Siau Hing @ Lim Kim Hoe and another v Compass Consulting Pte Ltd and another appeal [2023] SGCA 39, the Court of Appeal was required to determine two related appeals concerning whether a specific term formed part of the agreement between the parties.
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
Most of us are familiar with “Champagne” or “Bordeaux” wines. These are known as Geographical Indications (“GI“), which are signs
On 6 November 2023, the Significant Investments Review Bill (“Bill“) was introduced in Parliament. The Bill sets out a new
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
Greenwashing has gained considerable prominence in recent times. This naturally followed the growth and importance of environmental sustainability in the
CCCS Greenwashing Study and Upcoming Guidelines Read More »
Trust is at the core of most, if not all, successful ventures, initiatives and relationships. This human concept extends to
First of its Kind Generative AI Evaluation Sandbox for Trusted AI Read More »
Oaths and affirmations (“OAs“) are required by law in Singapore for a number of legal purposes. They are essentially statements
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
Arbitration is a form of alternative dispute resolution (ADR) in which the parties to a dispute agree to have their dispute resolved by one or more arbitrators instead of by a court. One of the notable features of arbitration is the finality and enforceability of arbitral awards.
Recognition and Enforcement of Arbitral Awards in Cambodia Read More »
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
As digital payments and transactions continue their rapid growth, so too has the risk posed by digitally-enabled scams. The Singapore regulators have sought to implement greater certainty in this regard by introducing relevant frameworks and guidelines. The Monetary Authority of Singapore and the Infocomm Media Development Authority are now looking to establish specific measures to address the responsibilities, duties and liability of the relevant parties – in particular, financial institutions and telecommunication operators.
The Singapore Quick Response Code (“SGQR“) is a single standardised quick response (“QR“) code for e-payments and combines multiple payment
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
Singapore to Implement Crypto-Asset Reporting Framework, Amend Common Reporting Standard Read More »
This Update highlights recent tax and custom developments in Vietnam. Clarifications on On-spot Imports and Exports Procedures The General Department
Tax & Custom Alert – November 2023 Read More »
Collective Management Organisations (“CMOs“) perform a vital role in Singapore’s creative sector by acting as a conduit between content rights
Philippine courts are generally allowed to vacate or set aside an arbitral award issued in a domestic arbitration or an
The UNCITRAL Model Law on Cross-Border Insolvency, which has been enacted in Singapore in an adapted form (“SG Model Law“),
On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The
On 24 October 2023, the Monetary Authority of Singapore (“MAS“) published the Consultation Paper on Repeal of Regulatory Regime for
MAS Consults on Repealing Registered Fund Management Companies (RFMC) Regime Read More »
In response to the ever-increasing labour demands while simultaneously addressing unemployment issues, Joko Widodo, the Indonesian President, recently signed Presidential Regulation No. 57 of 2023 on Mandatory Reporting of Job Vacancies into force on 25 September 2023.
Reporting for Duty: Indonesia Creates a Centralised Job Vacancies System Read More »
In line with the ongoing development in Indonesia’s new capital, Ibu Kota Nusantara, commonly referred to as IKN, the government
Unlocking Opportunities in Indonesia’s New Capital through Business-Friendly Reforms Read More »
From 1 November 2023, bankruptcy estates are required to be administered by Private Trustees in Bankruptcy (“PTIBs“), except for cases
On 19 October 2023, the first live digital trade between China and Singapore was completed by Singapore’s Infocomm Media Development
First Cross-Border Paperless Trade between China and Singapore Successfully Piloted Read More »
On 17 October 2023, the Cyber Security Agency of Singapore (“CSA“) and the Cloud Security Alliance launched two Cloud Security
Launch of Cloud Security Companion Guides to Support Cyber Essentials and Cyber Trust Read More »
On 7 November 2023, the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill (“Bill“) was passed in Parliament. The
Bill Passed to Implement Changes to Approved Royalty Incentive (ARI) Scheme Read More »
On 24 October 2023, the initial findings from the first phase of the joint Feasibility Study on Regional Energy Connectivity (“Study”) were announced in a Joint Ministerial Statement by the Ministry of Trade and Industry (“MTI”), Energy Market Authority of Singapore (“EMA”), and the United States (“US”) Department of Energy (“DOE”).
On 30 October 2023, the Monetary Authority of Singapore (“MAS“) announced that it is collaborating with the Financial Services Agency
To facilitate transition planning processes, the Monetary Authority of Singapore (“MAS”) issued a set of three Consultation Papers proposing guidelines on transition planning (“TP Guidelines”) respectively for banks, insurers and asset managers as they build climate resilience and enable robust climate mitigation and adaptation by customers and (where relevant) asset managers and investee companies.
Since the outbreak of COVID-19, commercial parties in the shipping industry have increasingly incorporated clauses dealing with infectious diseases into
The 39th ASEAN Capital Markets Forum (“ACMF“) Meeting made several inroads in driving transition towards sustainable capital markets in the
We are pleased to present our 3rd Regional Competition Bites for 2023. The third quarter has seen important regulatory developments and enforcement action across Southeast Asia.
Regional Competition Bites Q3 2023 Read More »
The second semester of 2023 continued to be an active year in the Indonesian legal landscape. After revamping the financial
On 4 October 2023, the Free Trade Zones (Amendment) Bill 2023 (“Bill“) was passed in Parliament. The Bill amends the
Bill Passed to Enhance Oversight of Goods Passing through Free Trade Zones Read More »
On 20 June 2023, the National Assembly of Vietnam passed the new Law on the Protection of Consumer Rights (“LPCR“).
New Law on the Protection of Consumer Rights Read More »
On 22 June 2023, the National Assembly passed the new Law on Electronic Transactions No. 20/2023/QH15 dated 22 June 2023
New Law on Electronic Transactions Read More »
Representatives appointed by capital markets intermediaries and financial advisers to conduct regulated activities under the Securities and Futures Act (“SFA“)
On 4 October 2023, the Ministry of Sustainability and the Environment and the National Environment Agency shared a set of
Prescribed Criteria for International Carbon Credits under Singapore’s Carbon Tax Regime Read More »
On 13 October 2023, the Consumers Association of Singapore (“CASE“) launched the CaseTrust Accreditation Scheme for E-businesses (“e-CaseTrust scheme“) to
CaseTrust Accreditation Scheme for E-businesses Read More »
An owner who has purchased a ship through commercial channels at arm’s length does not typically face challenges to its
The core principle of the digital economy is connectivity, finding its form in the digital links between people, organisations and
Over the years, Singapore’s investments in startups, research and innovation have transformed it into a technology and startup hub not
Court proceedings are subject to the principle of open justice. This principle allows the public to not only observe hearings and trials in court, but also to access court filings and obtain information such as the identities of parties. In contrast, confidentiality stands as a key advantage of arbitration over litigation.
From Arbitration to Court – Protecting Parties’ Identities Read More »
Law No. 33 of 2014 on Halal Product Assurance (“Law“) requires products entering, circulating, and being traded in Indonesia to
Countdown to Mandatory Halal Certification: One Year to Go Read More »
The commercial purpose of a confirmed documentary letter of credit is to provide assurance to the beneficiary that it will
On 20 September 2023, the Royal Government of Cambodia adopted Sub-Decree No. 286 ANKr.BK on Public Lighting Tax (“Sub-Decree“). This
New Rate of Public Lighting Tax Read More »
On 29 September 2023, the Monetary Authority of Singapore (“MAS”) issued a consultation paper to seek comments on the following key proposals to augment the resolution regime for the insurance sector.
MAS Consults on Proposals to Augment Resolution Regime for Insurance Sector Read More »
On 21 September 2023, the Singapore Exchange Regulation (“SGX RegCo”) issued a Consultation Paper titled “Proposed changes to the Futures Trading Rules and other rulebooks”.
Under Singapore law, claimants are required to bring certain types of actions within six years of the accrual of their
The Singapore Exchange (“SGX Group“) identifies green, social and sustainability (“GSS“) bonds listed on the SGX-ST that meet recognised standards
Back in January of this year, Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector granted the authority to regulate and oversee financial services activities in the carbon exchange sector to the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”).
Indonesia’s Carbon Exchange is Here. What Businesses Need to Know Read More »
In October last year, the Monetary Authority of Singapore (“MAS“) issued a Consultation Paper on its proposed framework for Domestic
Among the many topics covered by the so-called “P2SK Law” or the Omnibus Law for the financial sector (i.e., Law
OJK Turns the Spotlight to Sharia Rural Banks Read More »
In commercial contracts, it is not uncommon to find provisions allowing for contractual discretion on the part of one or more parties. While such provisions give a certain amount of decision-making power to the party that has been conferred the discretion, they are not without limit.
As the global economy becomes increasingly driven by innovation and intangibles, the value of an enterprise is no longer limited
On 22 September 2023, the Monetary Authority of Singapore (“MAS”) issued the first part of its Response to feedback received on the “Consultation Paper on Proposed Enhancements to the Deposit Insurance Scheme in Singapore”.
On 8 September 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued the “Regulator’s Column: Developing and executing a credible climate
SGX RegCo Shares Key Elements for a Credible Climate Transition Plan Read More »
The Carbon Pricing Act 2018 (“CPA”) provides for, among other things, requirements relating to registration as registered persons and reportable facilities, as well as reporting and payment of tax in relation to greenhouse gas (“GHG”) emissions.
Amendments to Carbon Pricing Act 2018 Come into Force on 1 Jan 2024 Read More »
On 1 June 2023, the Central Bank of Malaysia, Bank Negara Malaysia (BNM), issued an updated version of its Policy
To allow applicants to continue to leverage on the ASEAN Patent Examination Co-operation (“ASPEC“) ASPEC AIM to fast track their Industry 4.0
Further Two-Year Extension of ASEAN Patent Examination Co-operation AIM Pilot Programme Read More »
Since its establishment in 1991, the Singapore International Arbitration Centre (“SIAC“) has emerged as a leading global arbitration institution. Ranked
On 26 September 2023, the Monetary Authority of Singapore (“MAS”) and McKinsey & Company (“McKinsey”) jointly released a working paper titled “Accelerating the early retirement of coal-fired power plants through carbon credits” (“Working Paper”).
On 6 September 2023, the Ministry of Law (“MinLaw”) announced that Singapore has signed the United Nations (UN) Convention on the International Effects of Judicial Sales of Ships (“Convention”), making Singapore among the first signatories of the Convention.
The Securities and Futures (Clearing Facilities of Approved Exchanges or Recognised Market Operators) (Exemption) Regulations 2023 which came into effect on 7 September 2023, introduces an exemption from being regulated as a clearing facility under the Securities and Futures Act 2001 (“SFA”) for approved exchanges (“AEs”) and recognised market operators (“RMOs”) which provide certain clearing and settlement services in the form of limited post-trade services after the execution of a trade on its platform.
Previously, the Monetary Authority of Singapore (“MAS”) issued Circular PPD 08/2023 detailing the finalised implementation timeline for the final Basel III reforms for banks incorporated in Singapore (“Reporting Banks”).
On 30 August 2023, the Ministry of Labour and Vocational Training issued Notification No. 024/23 informing owners or directors of enterprises or establishments that are employing foreign employees for the year 2024 to apply for foreign employee quota approval from 1 September 2023 to 30 November 2023.
Notification on the Request for Foreign Employee Quota for the Year 2024 Read More »
On 7 September 2023, the Ministry of Manpower (“MOM”) announced that a new Tripartite Workgroup (“TWG”) had been formed to develop the Tripartite Guidelines on Flexible Work Arrangements (“Tripartite Guidelines”).
Tripartite Workgroup Formed to Develop Guidelines on Flexible Work Arrangements Read More »
On 3 October 2023, the Income Tax (Amendment) Bill (“Bill”) was passed by Parliament.
Mr Jasmin Nisban, formerly the Honorary Treasurer and elected Council member of the Singapore Chess Federation, recently won a defamation
On 31 August 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued the “Guidance Note on Financial Statements Disclosure” (“Guidance Note“)
On 5 July 2023, the Singapore Parliament passed the Online Criminal Harms Act (“OCHA“). The OCHA is aimed at online
Online Criminal Harms Act Passed in Singapore Read More »
In line with the vision of the Royal Government of Cambodia to innovate financial technology (FinTech) in the non-banking financial
New Regulations on FinTech Regulatory Sandbox in Non-Banking Financial Services Sector Read More »
On 31 August 2023, the Monetary Authority of Singapore (“MAS“) issued the “Circular on ensuring effective detection of sanctions-related risks”
Part 2 of the NETR was announced on 29 August 2023, which was essentially an introduction of the NETR in full and an introduction of, among others, the six levers and five enablers needed for the country’s energy transition.
Malaysia’s National Energy Transition Roadmap: Part 2 (Roadmap in Full) Read More »
In an increasingly interconnected global landscape, the intricacies of cross-border disputes have underscored the need for effective resolution mechanisms. Among
Section 210 of the Companies Act 1967 provides a flexible tool for companies seeking to restructure their debts in Singapore by way of a scheme of arrangement.
On 24 August 2023, the Monetary Authority of Singapore (“MAS“) issued its Response to feedback received on the “Consultation Paper
On 15 August 2023, the Monetary Authority of Singapore (“MAS“) released the finalised regulatory framework for stablecoins regulated in Singapore
MAS Announces New Regulatory Framework for Stablecoins Read More »
In Owner of the vessel “NAVIGATOR ARIES” v Owner of the vessel “LEO PERDANA” [2023] SGCA 20, the Singapore Court of Appeal
Apportionment of Liability for Maritime Collisions Read More »
In ByBit Fintech Ltd v Ho Kai Xin and others [2023] SGHC 199, the Singapore High Court determined whether the crypto
The global legal landscape is continually evolving, and we have seen how technological advancements have revolutionised the way the legal
A Detailed Look at Indonesia’s Electronic Summons Read More »
In July 2023, the Indonesian crypto market finally came full circle when the current Indonesian crypto regulator (the Commodity Futures Trading Regulatory Agency or Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) approved PT Bursa Komoditi Nusantara to run the crypto asset bourse.
The Monetary Authority of Singapore (“MAS“) has implemented the following two key changes to tax schemes related to single family
The Personal Data Protection Commission (“PDPC“) has launched a public consultation seeking views on the Proposed Advisory Guidelines on the
During the 8th UK-Singapore Financial Dialogue reported here, the United Kingdom (“UK“) and Singapore discussed, among others , working more
UK and Singapore to Deepen Collaboration in Sustainable Finance and FinTech Read More »
On 26 July 2023, the Monetary Authority of Singapore (“MAS“) announced that insurance policy owners will have online options to
Insurers to Be Permitted to Offer Option of Online Nomination of Insurance Beneficiaries Read More »
On 18 October 2022, the Monetary Authority of Singapore (“MAS“) published a Consultation Paper to seek feedback on proposed changes
MAS to Revise Restrictions on E-money Payment Accounts by H2 2023 Read More »
On 12 July 2023, the Ministry of Manpower (“MOM“) announced that the Government had accepted all eight recommendations by the
On 28 July 2023, the Monetary Authority of Singapore (“MAS“) announced that all corporate cheques will be eliminated by end-2025
On 11 July 2023, the Monetary Authority of Singapore (“MAS“) and the National Bank of Cambodia announced that they have
On 11 July 2023, the Monetary Authority of Singapore (“MAS“) published a paper titled “Industry Perspectives on Best Practices –
On 10 August 2023, the Family Justice Courts (“FJC“) announced that it has been undertaking a comprehensive review and redesign
Upcoming Amendment to the Family Justice Rules 2014 – Draft New Rules Read More »
On 30 August 2023, Structured Certificates were listed and available for trading on the Singapore Exchange Securities Trading Limited (“SGX-ST“).
Launch of Structured Certificates on SGX – First in Asia Read More »
On 14 August 2023, the Ministry of Manpower (“MOM“) launched a public consultation from 14 August 2023 to 4 September
On 31 July 2023, the Monetary Authority of Singapore (“MAS“) launched a public consultation on a revised framework to manage money
Singapore laws recognise that an individual who is not formally appointed as a director of a company owes fiduciary duties
Recent years have seen the emergence of novel and complex fraudulent schemes that may not be captured by the existing
2023 has been an odd year where seemingly global trade appears to have slowed down somewhat. Yet, trade regulations have
Regional Trade Mid-Year Highlights 2023 Read More »
On 4 August 2023, the Ministry of Manpower announced that the Government has accepted the final set of recommendations by
On 20 July 2023, the Non-Banking Financial Services Authority issued Prakas No. 035 on the Issuance of Fund Units of Collective Investment Scheme (“Prakas”). This Prakas is a long-awaited legal instrument under the purview of the Securities and Exchange Regulator of Cambodia to basically kick-off the collective investment scheme (“CIS”) market in Cambodia.
Prakas on the Issuance of Fund Units of Collective Investment Scheme Read More »
The Infocomm Media Development Authority has issued the Code of Practice for Online Safety (“Code“), which took effect from 18
Online Safety Code for Designated Social Media Services Comes into Effect Read More »
The Personal Data Protection Commission has launched a public consultation seeking views on the Proposed Advisory Guidelines on Use of
Starting from 1 August 2023, exporters of natural resources products, namely those generated from mining, plantation, forestry, and fishery businesses,
The Regional Competition Bites Q2 2023 – we here share various legislative and regulatory developments across Southeast Asia. Numerous developments
Regional Competition Bites Q2 2023 Read More »
The National Energy Transition Roadmap (“NETR“) was launched on 27 July 2023 by the Ministry of Economy of Malaysia, setting
On 17 July 2023, the Health Sciences Authority (“HSA“) announced a public consultation on new subsidiary legislation under the Health
Proposals for the Guidance Note on Business Collaborations Pursuing Environmental Sustainability Objectives (“Environmental Sustainability Collaboration GN“) have finally been introduced
CCCS Seeks Views on Guidance Note For Environmental Sustainability Collaborations Read More »
In June of this year, the Indonesia Stock Exchange (“IDX”) issued the Board of Directors of the IDX Decree No. Kep-00081/BEI/05-2023 on Regulation No. I-X on the Placement of Equity Securities Listing on the Watchlist Board (“Decree”) to introduce a new listing board, namely the Watchlist Board, to the public.
On 6 July 2023, the Accounting and Corporate Regulatory Authority (“ACRA“) and Singapore Exchange Regulation (“SGX RegCo“) jointly released the
Proposed Mandatory Climate Reporting for Listed Issuers and Large Non-Listed Companies Read More »
As an integral part of the Association of Southeast Asian Nations (“ASEAN“) Economic Community (AEC), the ASEAN Trade in Goods
MTI Seeks Feedback on the ASEAN Trade in Goods Agreement (ATIGA) Read More »
On 19 July 2023, the Ministry of Law and the Singapore Land Authority jointly announced certain amendments to the Schedule
Refinements to the Meaning of “Residential Property” under the Residential Property Act Read More »
This development follows from the earlier “Consultation Paper on Proposed Regulatory Measures for Digital Payment Token Services” issued by MAS
Financial market participants have increasingly used Environmental, Social, and Governance (“ESG“) ratings and ESG data products for investment and capital
MAS Consults on Code of Conduct for ESG Rating and Data Product Providers Read More »
2023年7月5日，新加坡金融管理局宣布修改单一家族办公室基金实体根据《1947年所得税法》第13O和13U条申请免税的资格标准。这些变化旨在鼓励有意义的资本部署，促进新加坡资产和财富管理行业的发展和完善。本资讯为您整理总结了相关申请资格的主要变化。详细内容，请点击查看全文。 For more information, click here to read the full Legal Update.
S13O 和 S13U家族办公室申请标准更新 Read More »
On 14 June 2023, the Financial Services Authority (“OJK“) issued OJK Regulation No. 8 of 2023 on the Implementation of
As OJK Expands Requirements on Anti-Money Laundering Program, What Must be Done and How? Read More »
On 3 July 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued a set of “Guidelines on Independent Financial Advisers” (“Guide“)
The coal to green transition plays a vital role in reducing global greenhouse gas emissions. The transition will not be
In Fu Zhihui Alvin & Anor v Accounting and Corporate Regulatory Authority [2023] SGHC 177, the Singapore High Court considered an application to have a company restored to the Register of Companies (“Register”).
Restoration of Struck-Off Company to the Register of Companies Read More »
As a general rule, court proceedings are subject to the principle of open justice. Imposing a cloak of privacy on court proceedings is an exceptional measure taken only in certain circumstances, such as when a statute provides for it, as this privacy departs from the principle of open justice.
Privacy and Confidentiality in the Enforcement of Arbitral Awards Read More »
The “Simplified Process for Certain Intellectual Property Claims” (“Simplified Process”) under Part 2 of the Supreme Court of Judicature (Intellectual Property) Rules 2022 (“SCJ(IP)R”) came into effect on 1 April 2022.
First Case Applying the Simplified Process for Intellectual Property Claims Read More »
Section 38(5) of the Employment Act (“EA”) (“section 38(5)”) states that “[a]n employee must not be permitted to work overtime for more than 72 hours a month.”
Cap on Maximum Overtime under the Employment Act: Protection for Employers or Employees? Read More »
The Law on Competition, which covers all persons conducting business activities, or supporting business activities, that significantly prevent, restrict, and
Cambodia’s Law on Competition and Relevant Implementation Regulations Read More »
Multi-tier dispute resolution clauses have increased in prominence, providing for a practical approach to dispute resolution. These clauses typically call
The government, via the Ministry of Finance, recently issued Ministry of Finance Regulation No. 66 of 2023 (“Regulation“). The Regulation
Analysing Indonesia’s New Tax Regime for Benefit-in-Kind Read More »
As electronic transactions quickly become the new norm, Singapore’s legal system has continued to keep pace with developments in technology
As highlighted back in 2022 (click here to read our previous client alert on the same topic), the government had
Refresher on Government Regulation for IP-Based Financing Scheme Read More »
On 4 July 2023, the Lease Agreements for Retail Premises Bill (“Bill“) had its first reading in Parliament. The Bill
New Law Governing Terms of Lease of Retail Premises to be Introduced Read More »
On 5 July 2023, the Monetary Authority of Singapore announced changes to the qualifying criteria for single family office fund
Updates to S13O & S13U Application Criteria for Family Offices Read More »
The Building and Construction Industry Security of Payment Act 2004 (2020 Rev Ed) contains strict timelines for responses, notices, and
Timelines for SOPA Payment Claims, Responses, and Adjudication Read More »
On 26 June 2023, the Royal Government of Cambodia adopted Sub-Decree No. 139 ANKr.BK on the Implementation of Law on
Sub-Decree on the Implementation of Law on Investment Read More »
On 7 June 2023, the Infocomm Media Development Authority announced the launch of the AI Verify Foundation (“Foundation“), which aims
Ensuring the Responsible Use of AI – Singapore Launches the AI Verify Foundation Read More »
On 30 June 2023, the Steering Committee for SOR & SIBOR Transition to SORA (“SC-STS”) finalised its recommendations on the approach to convert Singapore Interbank Offered Rate (“SIBOR”) loans to Singapore Overnight Rate Average (“SORA”), in particular the setting of adjustment spreads to account for the difference between SIBOR and Compounded SORA.
SC-STS Finalises Transition Approach for SIBOR Loans to SORA Read More »
On 30 June 2023, the Ministry of Manpower (“MOM“) announced that the Government has accepted recommendations by the Tripartite Cluster
On 30 June 2023, the Ministry of Manpower (“MOM”) announced that 12 background screening companies have been selected to provide services for employers to verify educational qualifications of their Employment Pass (“EP”) applicants.
On 8 June 2023, the Monetary Authority of Singapore (“MAS”) issued Circular PPD 08/2023 (“Circular”) on “Implementation Timeline for the Final Basel III Reforms in Singapore”.
MAS Sets Finalised Implementation Timeline for Final Basel III Reforms in Singapore Read More »
本更新是对近几个月东南亚地区在数据保护、内容监管、金融监管、电信和电子商务等主题方面的最新发展概览。这些主题对于在科技领域经营的企业来说是相关及重要的，因为它们影响到企业如何收集、使用、存储和转移个人数据；如何创建、发布和调节在线内容；如何提供或促进金融服务和交易；如何访问和利用电信网络和基础设施；以及如何进行在线商务和贸易。简洁起见，我们将采取一个宏观的视角，将重点放在最新变化上，如果您想进一步讨论这些发展或任何其他与东南亚科技法律有关的事项，请随时与我们联系。 如果您想进一步了解，请点击阅读更多。
立杰亚洲 科技、媒体和电信区域法律资讯 Read More »
On 23 June 2023, the Association of Banks in Singapore (“ABS”) launched the Trade Finance Registry (“TFR”), an industry utility that aims to securely maintain a centralised record of trade finance transactions in Singapore with data provided by participant banks.
ABS Counters Trade Finance Fraud with Newly Launched Trade Finance Registry Read More »
On 26 June 2023, the Monetary Authority of Singapore (“MAS”) announced the release of the Veritas Toolkit version 2.0, an open-source toolkit to enable the responsible use of Artificial Intelligence (“AI”) in the financial industry.
MAS Publishes Toolkit for Responsible Use of AI in Financial Sector Read More »
On 27 June 2023, the Monetary Authority of Singapore (“MAS”) issued a public consultation on the proposed change11s to increase deposit insurance (“DI”) from S$75,000 to S$100,000 per depositor per DI scheme member from 1 April 2024, and improve the clarity and operational efficiency of the DI scheme. The consultation closes on 31 July 2023.
During the COVID-19 period, when in-person meetings could not be conducted, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders
Conducting Collective Sale-related Meetings through Virtual Means Read More »
On 26 June 2023, the Healthcare Services Act 2020 (“HCSA“) was amended to implement the following key changes: Transitioning existing
A foreign company that is registered under the Companies Act 1967 (“CA“) is, unless exempted, subject to various disclosure requirements
The compulsory acquisition provision under section 215 of the Companies Act 1967 (“CA”) allows an acquiror (“acquiror“) in a takeover
Digital assets have been receiving increased recognition in terms of legitimacy and potential to positively reform the financial ecosystem.
MAS Proposes Common Protocol for Use of Digital Money Read More »
In June 2023, the Monetary Authority of Singapore (“MAS”) announced several initiatives to support sustainable and credible transition financing solutions. We highlight some of those key initiatives below.
On 6 June 2023, the National Election Committee (“NEC”) issued a press release no. 004 calling for the immediate halt
NEC Press Release: Immediate Halt of Action against the Election Law. Read More »
On 6 June 2023, the Ministry of Finance (“MOF“) announced a public consultation on 33 proposed amendments to the Income
MOF Consults on Proposed Amendments to Income Tax Act Read More »
On 22 May 2023, the Ministry of Economy and Finance and the Ministry of Land Management, Urban Planning and Construction
Earlier in June 2023, Climate Impact X (“CIX”), a global marketplace for quality voluntary carbon credits, successfully launched its globally accessible spot trading platform, CIX Exchange, which completes CIX’s core suite of venues and services.
On 8 June 2023, the Infocomm Media Development Authority (“IMDA”) launched the Singapore Standard for “Deployment and operation of data centre IT equipment under tropical climate” (“Standard”).
IMDA Introduces Sustainability Standard for Data Centres Operating in Tropical Climates Read More »
Earlier this year, the Singapore Parliament passed several key legislative changes to the Resource Sustainability Act 2019, one of which
New Disposable Carrier Bag Scheme under Resource Sustainability Act Comes Into Effect Read More »
The Global Investor Programme (“GIP”) accords Singapore Permanent Resident (PR) status to global investors who intend to conduct their businesses and drive investment growth from Singapore, and meet the eligibility criteria set by the Singapore Economic Development Board (“EDB”). Interested individuals have three investment options to obtain PR status through the GIP, one of which is the investment of S$25 million into a GIP-select fund (“GIP Option B”).
On 15 May 2023, the Prime Minister of Vietnam issued Decision No. 500/QD-TTg approving the National power development plan for the period between 2021 and 2030, and setting out the vision for 2050.
Power Development Plan VIII Read More »
In Adcrop Pte Ltd v Gokul Vegetarian Restaurant and Cafe Pte Ltd [2023] SGHC 152, the Singapore High Court considered
新《税法》于2023年5月16日根据NS/RKM/0523/004号皇家法令紧急颁布（”《税法》”），因此从2023年5月17日起生效。《税法》废除了1997年2月24日的旧税法及其2003年3月31日的修正案。在本法律资讯中，我们重点介绍《税法》的主要特点。 如果您想进一步了解，请点击阅读更多。
The Monetary Authority of Singapore (“MAS“) reporting regime for over-the-counter (“OTC“) derivatives contracts started in 2013, and the enabling provisions
Amendments to OTC Derivatives Reporting Regime Expected to Commence in Oct 2024 Read More »
As a collaborative effort between the Association of Southeast Asian Nations (“ASEAN“) and the European Union (“EU“), the Joint Guide
Joint Guide to ASEAN Model Contractual Clauses and EU Standard Contractual Clauses Read More »
On 19 May 2023, the Ministry of Land Management, Urban Planning and Construction issued Prakas No. 083 on the Abrogation
Abrogation of Prakas No. 087 on Land Development Read More »
The Minister of State-Owned Enterprises (“Minister“) issued the BUMN Omnibus Regulations at the end of March 2023, which consolidated and
In COSCO Shipping Specialized Carriers Co., Ltd. V PT OKI Pulp & Paper Mills & 2 Ors [2023] SGHC 149,
Limitation of Liability by Shipowner for Damage Incident under the Merchant Shipping Act Read More »
The new Law on Taxation was promulgated on 16 May 2023 by virtue of Royal Kram No. NS/RKM/0523/004 (“Law on
Cambodia’s New Law on Taxation Read More »
The Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) allows companies intending to propose a scheme of arrangement to
On 16 May 2023, Singapore acceded to the Hague Convention of 15 November 1965 on the Service Abroad of Judicial
Amidst an increase in workplace fatalities, the Ministry of Manpower (“MOM“) announced the implementation of a Heightened Safety Period (“HSP“)
MOM Announces New SAFE Measures for More Sustainable WSH Outcomes Read More »
To allow various business entities to convene, hold, or conduct their general meetings despite various movement control orders during the
Preparatory to the commencement of Phase 2 of the Healthcare Services Act (“HCSA“) on 26 June 2023, the Ministry of
Phase 2 of Healthcare Services Act Commences on 26 June 2023 Read More »
At the 145th International Trademark Association Annual Meeting on 17 May 2023, the Keynote Speech was delivered by Minister for
Singapore IP Strategy 2030 – Recent and Upcoming Initiatives Read More »
The Council for Estate Agencies (CEA) announced on 19 May 2023 that it will be implementing measures over the next
Enhancement Measures for Real Estate Agency Industry Read More »
On 8 May 2023, the Monetary Authority of Singapore issued a consultation paper (“Consultation Paper“) on proposed amendments to the
Global interest in Generative AI technologies has increased tremendously in recent months, given the emergence of ChatGPT (followed by similar technologies).
On 6 January 2023, the Royal Government of Cambodia adopted the Sub-Decree No. 13 ANKr.BK on Conditions, Formalities, and Procedures
New Regulations on Investigation and Recall of Unsafe or Non-compliant Foods Read More »
The Financial Services and Markets Act (“FSMA“) was passed in Parliament on 5 April 2022. The FSMA is an omnibus
On 20 April 2023, the Family Justice Reform Bill (“Bill“) was tabled for First Reading in Parliament to amend various
Family Justice Reform Bill Passed in Parliament to Strengthen Family Therapeutic Justice Read More »
On 4 April 2023, the Charity Council (“Council“) released the revised Code of Governance for Charities and Institutions of a
Under the Companies Act 1967 (“CA“) (for companies incorporated in Singapore) and the SGX-ST Listing Rules, issuers are required to
2023年2月3日，柬埔寨王国政府颁布了关于使用SIM模块的电信设备身份登记的第41号二级法令，旨在：（i）防止和限制使用假SIM模块的设备、赃物和非法进口的设备；（ii）保护消费者的健康、安全和权利；（iii）提高电信服务质量；（iv）鼓励诚实和透明的市场竞争；以及（v）加强国家税收。本更新报告简要介绍强调《二级法令》的主要特点。 如果您想进一步了解，请点击阅读更多。
Section 176(1) of the Companies Act 1967 (“CA“) provides that directors of a company must, on the requisition of members
Who has the Standing to Requisition an EGM? Read More »
On 20 April 2023, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Monetary Authority of Singapore (“MAS“)
On 21 April 2023, the Monetary Authority of Singapore (“MAS“) and the People’s Bank of China (PBC) announced the establishment
The Infocomm Media Development Authority has proposed an automatic class licence for mixed distributors of video games and non-age restricted
Proposed Automatic Class Licence for Mixed Distributors of Video Games and Films Read More »
On 17 April 2023, the Monetary Authority of Singapore (“MAS“) published an information paper titled “Corporate Finance Thematic Inspection: Good
This year, the Indonesia Competition Commission (“KPPU”) has made a series of measures to improve the country’s competition enforcement by issuing new regulations and guidelines.
The latest feature in the line-up of ‘next-big-things’ has been the advent of the metaverse, which has promised to revolutionise
Data & Digital Economy: Beyond the Hype of the Metaverse Read More »
To better protect retail investors in Singapore against inappropriate prospecting and marketing activities and tactics engaged by some financial institutions
作为中资企业热点投资地区之一的新加坡于 2017 年批准了《联合国国际贸易法委员会跨境破产示范法》（”示范法“）。该示范法代表了在破产程序中跨境承认和援助方面的一个重大进步，也为更有效的重组或跨地域的资产变现铺平了道路。 本文是对《示范法》以及有关外国破产程序的简要介绍。 如果您想进一步了解，请点击阅读更多。
On 9 May 2023, the Financial Services and Markets (Amendment) Bill (“Bill“) was passed in Parliament. The Bill amends the
Can an exclusive jurisdiction clause in one contract, as a matter of construction, apply to disputes arising out of another
On 8 May 2023, the Online Criminal Harms Bill (“Bill“) was introduced for First Reading in Parliament. To better protect
On 18 April 2023, the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023 (“Bill“) was tabled for first
Upcoming Changes to Criteria for Computing 90% Threshold for Compulsory Acquisition Read More »
Shortly after the enactment of Law No. 27 of 2022 on Personal Data Protection (“PDP Law“) on 17 October 2022
Constitutional Court Rulings Illuminate Certain Provisions of the PDP Law Read More »
Recently, the Kuala Lumpur High Court in Government of Malaysia v Inoapps Sdn Bhd [2022] MLJU 2280 held that while
In Re Babel Holding Ltd and other matters [2023] SGHC 98, the Singapore High Court had to apply restructuring and
In Asidokona Mining Resources Pte Ltd & Anor v Alternative Advisors Investments Pte Ltd [2023] SGHC(A) 6, the Appellate Division
Ratification after Litigation? Read More »
Singapore has taken a position as a regional leader in trade digitalisation, with numerous programmes and initiatives directed at achieving
Singapore Conducts World’s First Live Electronic Transferable Record Cross-Border Trade Read More »
Due to the increasing number of telephone and online scams, the Thai government has issued a new law to combat
On 26 April 2023, the Ministry of Finance, Ministry of National Development, and Monetary Authority of Singapore jointly announced in
On 17 April 2023, the Government issued the long-awaited Decree 13/2023/ND-CP on personal data protection (“PDP Decree“). The PDP Decree
Decree on Personal Data Protection Issued Read More »
On 2 March 2023, the Singapore Economic Development Board (“EDB”) announced changes to all three investment options under the Global Investor Programme (“GIP”), which have taken effect from 15 March 2023
On 1 March 2023, Singapore formally became a member of the International Institute for the Unification of Private Law (“UNIDROIT“)
Singapore Becomes a Member of UNIDROIT Read More »
The Monetary Authority of Singapore (“MAS”) has issued Circular No. AMLD 02/2003 (“Circular”) on 3 March 2023 to remind all financial institutions (“FIs”) to stay vigilant to the money laundering and terrorism financing (“ML/TF”) risks in wealth management.
This Rajah & Tann Regional Competition Bites provides an overview of the key competition updates in South-east Asia during the
Regional Competition Bites Q1 2023 Read More »
When drafting arbitration clauses, the selection of the seat is a crucial aspect.
On 12 April 2023, the General Secretariat of Economic and Financial Policy Committee of the Royal Government of Cambodia issued
Starting from April 2023, businesses must follow the new case handling procedure regulation under the Indonesia Competition Commission (“KPPU“) Regulation
The ASEAN Taxonomy for Sustainable Finance Version 2 (“ASEAN Taxonomy V2“) was released on 27 March 2023 by the ASEAN
In March 2022, the Ministry of Manpower (“MOM“) announced a slew of changes relating to Singapore’s foreign workforce. Key among
On 27 March 2023, the European Commission (“EC“) published a Communication and Annex, amending its 2008 Guidance on enforcement priorities
European Commission Amends Article 102 TFEU Enforcement Priorities Read More »
On 3 February 2023, the Royal Government of Cambodia issued Sub-Decree No. 41 on the Registration of Identity of Telecommunications
Sub-Decree on Telecommunications Equipment Identity Registration Read More »
The Indonesia Competition Commission or KPPU has issued a new merger control regulation, namely KPPU Regulation No. 3 of 2023
The National Commercial Arbitration Centre (“NCAC”) is a non-profit commercial dispute resolution institution based in Phnom Penh, Cambodia. On 18
National Commercial Arbitration Centre Adopts the Mediation Rules Read More »
Last year, the Financial Services Authority (“OJK“) issued OJK Regulation No. 11/POJK.03/2022 on the Implementation of Information Technology by Commercial
OJK Sets New Cyber Security Best Practices for the Banking Industry Read More »
The crypto market has been through a tumultuous past year. Within months, the market went from all-time highs to the
The relocation of Indonesia’s capital from Jakarta to a new location in Kalimantan has been discussed for several decades. This
New Capital, New Rules. A Closer Look at Land Regulations for Nusantara Read More »
On 20 March 2023, the Ministry of Finance (“MOF“) announced that it is proposing legislative amendments to the Free Trade
Consultation on Bill to Enhance Oversight of Goods Passing through Free Trade Zones Read More »
On 31 March 2023, the Monetary Authority of Singapore (“MAS”) and Bank Negara Malaysia (“BNM”) launched a cross-border QR code payment linkage between Singapore and Malaysia.
Singapore and Malaysia Launch Cross-border QR Code Payments Connectivity Read More »
On 27 March 2023, Climate Impact X (“CIX”), a global marketplace, auctions house and exchange for trusted carbon credits based in Singapore, announced that it is set to launch a nature-based standardised contract called CIX Nature X (“Nature X”). CIX was jointly established by DBS Bank, Singapore Exchange (SGX Group), Standard Chartered and Temasek.
On 22 March 2023, the Resource Sustainability (Amendment) Bill (“Bill”) was passed. The Bill amends the Resource Sustainability Act 2019 (“Act”), and introduces measures to address packaging waste and food waste.
Resource Sustainability (Amendment) Bill Passed to Address Packaging and Food Waste Read More »
Property developers can soon expect to be subject to new requirements regarding anti-money laundering and terrorism financing (“AML“) measures. Earlier
On 23 February 2023, the Monetary Authority of Singapore (“MAS“) issued a new Notice SFA-04-N21 on “Business Conduct Requirements for
On 21 March 2023, the Misuse of Drugs (Amendment) Bill 2023 (“MDA Bill”) and the Constitution of the Republic of Singapore (Amendment) Bill (collectively, “Bills”) were passed.
In the Singapore High Court case of Siemens Industry Software Inc v Inzign Pte Ltd [2023] SGHC 50, the Court
With the proliferation of cryptocurrency investment and transactions, the courts are increasingly faced with novel issues relating to cryptocurrency.
Contracts for the Sale of Cryptocurrency – Determining Illegality and Proper Parties Read More »
On 20 March 2023, the Financial Services and Markets (Amendment) Bill (“FSM(A) Bill”) was tabled for First Reading in Parliament.
In early January of this year, the Indonesian government enacted the ‘Omnibus Law for the financial sector’, or Law No.
PPSK Law and The Changing Landscape of Indonesia’s Capital Market Sector Read More »
In a situation involving a tax crime, the tax authority must carry out a pre-investigation audit before proceeding with an
Does the New Regulation on Pre-Investigation Tax Audit Improve Certainty for Taxpayers? Read More »
On 16 March 2023, it was announced that Singapore and Indonesia will work more closely in the areas of renewable energy and digital economy, and both countries have entered Memoranda of Understandings (“MOUs”) in this regard.
On 15 March 2023, the Steering Committee for SOR & SIBOR Transition to SORA (“SC-STS”) published a consultation paper on its recommendations for the setting of adjustment spreads to convert legacy loans referencing the Singapore Interbank Offered Rate (“SIBOR”) to a Singapore Overnight Rate Average (“SORA”) reference.
SC-STS Consults on Adjustment Spreads for the Conversion of Legacy SIBOR Loans to SORA Read More »
Data breaches are a key concern for organisations, particularly in light of the increasing incidents of data leaks. As part
MAS Sets Out Revised Expectations for Notification of Data Breaches by Licensed Insurers Read More »
On 17 February 2023, the China Securities Regulatory Commission published new regulations for the filing-based administration of overseas securities offering
On 10 March 2023, the Accounting and Corporate Regulatory Authority (“ACRA”) announced that ACRA, the Singapore Accountancy Commission (“SAC”) and the Accounting Standards Council (“ASC”) will merge as one entity with effect from 1 April 2023. The merged entity will take on the name of ACRA.
The recent landmark decision of Herbalife International Singapore Pte Ltd v Comptroller of Goods and Services Tax [2023] SGHC 54
When a company enters financial trouble, the Singapore restructuring and insolvency framework provides a number of avenues through which the
Healthier SG is an initiative by the Government aimed at transforming the healthcare system of Singapore.
On 1 March 2023, Singapore and the United Kingdom (“UK”) entered a Memorandum of Understanding (“MOU”) on the UK-Singapore Green Economy Framework (“UKSGEF”).
Singapore and UK Sign MOU on Green Economy Framework Read More »
The Healthcare Services (Amendment) Bill (“Bill“) was introduced in Parliament on 6 February 2023. This follows a public consultation conducted
On 28 February 2023, the Land Betterment Charge (Table of Rates and Valuation Method) (Amendment) Regulations 2023 was published in
Land Betterment Charge Table of Rates Updated Read More »
On 15 February 2023, the Green Finance Industry Taskforce (“GFIT“) issued the third consultation paper (“2023 Consultation Paper“) on the
Singapore, as a regional hub for dispute resolution, has been developing its framework for the reciprocal enforcement of foreign judgments.
Under the Personal Data Protection Act 2010 (“PDPA“), there are 13 specified classes of data users (“Specified Data Users“) that are required to draw up binding Codes of Practice to set out data protection requirements that are tailored to their particular industries (e.g., Banking, Insurance, Education etc).
On 24 February 2023, the Misuse of Drugs (Amendment) Bill (“MDA Bill“) and the Constitution of the Republic of Singapore
In Milaha Explorer Pte. Ltd v Pengrui Leasing (Tianjin) Co. Ltd. [2023] SGCA 6, the Singapore Court of Appeal considered
Court of Appeal Examines Test for Grant of Mareva Injunction Read More »
Seeking to address how best to create a strong and robust system that will promote workplace fairness, the Tripartite Committee
Singapore Moves Another Step Closer to Workplace Anti-Discrimination Legislation Read More »
On 21 February 2023, the Monetary Authority of Singapore (“MAS“) and the Reserve Bank of India (“RBI“) launched a safe,
MAS and RBI Launch Real-time Payments between Singapore and India Read More »
In 2022, Singapore introduced a system of Nutri-Grade measures which imposed mandatory nutrition labels and advertising prohibitions for designated beverages.
On 9 February 2023, the Accounting and Corporate Regulatory Authority, Ministry of Finance and Monetary Authority of Singapore jointly announced
Changes are being made to the Sales Tax Act 2018 in phases to impose sales tax on low value goods.
Introduction of Sales Tax on Low Value Goods on Online Marketplaces Read More »
We are pleased to present you our Sustainability Update which shares insights from our Sustainability Partners and experts across sectors and domains on key environmental, social and governance (“ESG”) developments and trends.
Potential Legal Recourses for Greenwashing Claims in Singapore Read More »
Wide-ranging amendments have been made to the Thai Civil and Commercial Code, which are intended to ease the administrative burden on private limited companies and provide more practical solutions to business issues.
Major Changes in Law Related to Private Limited Companies Read More »
Since 2018, continuous efforts have been made by the Malaysian Government to review and update the Personal Data Protection Act 2010 (“PDPA”) in order to bring the PDPA in line with global data protection standards, and also to address issues arising from the emerging ways of using and processing personal data.
On 6 February 2023, the Ministry of Finance (“MOF“) and the Accounting and Corporate Regulatory Authority (“ACRA“) published their responses
On 6 February 2023, the Resource Sustainability (Amendment) Bill (“Bill“) was tabled for First Reading in Parliament. The Bill seeks
On 14 February 2023, as part of the Budget Statement for Budget 2023, the Minister for Finance, Lawrence Wong, announced
Government Implements New Measures on Buyers’ Stamp Duty Read More »
The Budget Statement for Budget 2023 was delivered on 14 February 2023. Following the lowering of the Disease Outbreak Response
Singapore Budget 2023: Moving Forward in a New Era Read More »
The role of the liquidator is to realise the assets of the company and from the sale proceeds, pay off
On 10 February 2023, the Ministry of Manpower (“MOM“) announced an extension to the Heightened Safety Period and the implementation
When a party submits that a dispute is not arbitrable, an important threshold question arises: should the issue of arbitrability
In line with the intention of the Royal Government of Cambodia (“RGC”) to mitigate the economic impact of COVID-19 and
Intangible assets such as intellectual property and goodwill are important sources of competitive advantage and economic value for any business.
Public Consultation on Proposed Intangibles Disclosure Framework Read More »
As a follow-up to OJK Regulation No. 29/POJK.04/2021 on Offerings Classified as Non-Public Offering (“Regulation”), the Financial Services Authority (Otoritas
OJK Announced Guidelines to Implement Offerings Classified as Non-Public Offerings Read More »
On 3 February 2023, the Ministry of Manpower (“MOM“) announced that it has formed the Platform Workers Work Injury Compensation
On 2 February 2023, Sembcorp Industries (“Sembcorp“) and the Energy Market Authority (“EMA“) announced in a joint media release the
Singapore Launches Largest Energy Storage System in Southeast Asia Read More »
In Asidokona Mining Resources Pte Ltd & Anor v Alternative Advisors Investments Pte Ltd [2023] SGHC(A) 6, the Appellate Division of the High Court allowed an appeal in a case that raised “several difficult questions” (in the words of the Court).
This article provides a summary of the current state of mediation in Cambodia. It also gives an insight into the
Mediation in Cambodia Read More »
On 1 February 2023, the Energy Market Authority (“EMA“) issued a public consultation (“Consultation“) seeking feedback on proposed enhancements to
Proposed Enhancements to Regulatory Regime for Electricity Retailers Read More »
The Online Safety (Miscellaneous Amendments) Act 2022 (“Act“) has come into operation on 1 February 2023. The Act introduces new
Online Safety (Miscellaneous Amendments) Act 2022 Comes into Force on 1 February 2023 Read More »
In a joint statement released on 30 January 2023, tripartite partners Ministry of Manpower, National Trades Union Congress and Singapore
In Re: Kirkham International Pte Ltd [2023] SGHC 19, the Singapore High Court considered the issue of whether it has
As readers may be aware, the Indonesian legislation has equipped the tax authority with several specific measures to combat tax
A common method employed by scammers is to masquerade their SMS sent to Singapore mobile users using the same alphanumeric
Full Singapore SMS Sender ID Registry Requirement in Force from 31 January 2023 Read More »
2022 has been an interesting year as the world emerged from the pandemic. Hard core restrictions from the pandemic are
Rajah & Tann Asia’s Annual Regional Trade Report 2022 Read More »
The eighth meeting of the International Advisory Panel for Workplace Safety and Health (“IAP“) occurred from 17 to 19 January
On 12 January 2023, the Department of Intellectual Property of Myanmar under the Ministry of Commerce issued a notice stating
New Trademarks Law Anticipated in Myanmar in March 2023 Read More »
Last November, the Constitutional Court declared Law No. 11 of 2020 on Job Creation or commonly known as the Omnibus
Dissecting the Amendment to the Omnibus Law: Which Sectors are Affected and How? Read More »
In Singapore, subsidiary proprietors (“SP”) of strata titled developments are required to seek the management corporation’s (“MCST”) approval to effect improvements to their lot if it affects the appearance of the building, the overarching concern being that of uniformity.
Judicial Approach in MCST Cases: To defer to, or differ from, a Management Corporation? Read More »
The Appropriate Dispute Resolution: The Singapore Way launch event on 12 January 2023 saw the introduction of two new initiatives
As part of the reform of Singapore’s bankruptcy and insolvency laws, the personal bankruptcy regime has been moving towards administration
Bankruptcy Regime to be Administered by Private Trustees in Bankruptcy Read More »
Since 2006, parties importing intangible goods such as software or other digital goods via electronic transmission into Indonesia are required
Construction contracts often contain detailed procedures for the various aspects of the working arrangement between the parties, including the agreed mechanisms for making payment claims or for variation and rectification works, as well as details such as notification periods or approval processes.
The National Environment Agency of Singapore (“NEA“) is proposing amendments to the energy efficiency requirements on regulated domestic goods under
2022 has been an interesting year as the world emerged from the pandemic. Hard core restrictions from the pandemic are
Rajah & Tann Asia’s Annual Regional Competition Report 2022 Read More »
On 11 January 2023, Singapore Exchange Regulation announced that the following new requirements will apply to issuers listed on the
The Monetary Authority of Singapore (“MAS“) and the Accounting and Corporate Regulatory Authority (ACRA) first launched the Variable Capital Companies
On 9 January 2023, the Environmental Public Health (Amendment) Act 2023 (“Bill“) was introduced in Parliament. The Bill was passed
Singapore and Pakistan affirmed their longstanding and friendly relations during Minister of Foreign Affairs of the Islamic Republic of Pakistan
Strengthening Collaborative Opportunities Between Singapore and Pakistan Read More »
On 6 January 2023, the Accounting and Corporate Regulatory Authority (“ACRA“) released its fourth report from its Financial Reporting Surveillance
On 8 December 2022, the Competition and Consumer Commission of Singapore (“CCCS“) issued a decision pursuant to an application by
CCCS Clears Singapore Clearing House Association’s Bye-Laws Governing Use of FAST Read More »
On the heel of a lengthy debate and despite the controversy surrounding it, Law No. 1 of 2023 on Indonesian Criminal Code (“Law 1/2023”) has been promulgated on 2 January 2023. Law 1/2023 replaces the previous Criminal Code, which dates to the Dutch colonial era.
Indonesia’s New Criminal Code Introduces Corporate Crime Read More »
2022 has seen various developments relating to consumer protection law. Not only have the authorities looked into strengthening dispute resolution
Key 2022 Developments Having an Impact on Consumer Protection Law in Singapore Read More »
On 17 November 2022, the Competition and Consumer Commission of Singapore issued an Infringement Decision against four warehouse operators for engaging in anti-competitive agreements in violation of section 34 of the Competition Act 2004, and imposed a total financial penalty of close to S$3 million.
On 15 December 2022, the Ministry of Law announced that various COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders which
As we approach the start of a new year, this Client Update provides you a reminder of the key regulatory
2023 Compliance Alert: Reminder on Key Annual Compliance Matters Read More »
On 20 December 2022, Carbonplace and Climate Impact X (“CIX“) announced a successful series of proof-of-concept transactions that will dramatically
On 15 December 2022, new provisions were issued to clarify how data breach incidents should be notified, with such requirements
PDPA Update: How to Notify Data Breach Incidents Read More »
On 14 December 2022, the Monetary Authority of Singapore (“MAS“) issued the following revised MAS Notices on residential property loan
On 13 December 2022, the Ministry of Manpower and the Ministry of Trade and Industry jointly announced the launch of
Launch of M-SEP Scheme – Improved Flexibility to Hire S Pass and Work Permit Holders Read More »
On 14 December 2022, the Monetary Authority of Singapore issued a Consultation Paper on proposed revisions to “Guidelines on Fair
Since 2016, issuers listed on the Singapore Exchange Securities Trading Limited (“SGX-ST“) have been required to issue a sustainability report
If a claim would be time-barred in arbitration, but not in the court proceedings that had been commenced within time,
Revision of Swiss Inheritance Law Allowing More Flexibility in Estate Planning Read More »
The questions of who has priority over a bankrupt’s assets and precisely when the priority arises are important ones in
On 24 November 2022, the Singapore Exchange Regulation (“SGX RegCo“), the Singapore Institute of Directors (SID), and the Chartered Secretaries
In Ok Tedi Fly River Development Foundation Ltd & Ors v PNG Sustainable Development Program Limited [2022] SGCA 76, a
In March 2020, the Infocomm Media Development Authority (“IMDA“) launched an Internet of Things (“IoT“) Cyber Security Guide (“Guide“) to
Annex C of Internet of Things Cybersecurity Guide (Case Study for Smart Buildings) Read More »
On 9 November 2022, the Online Safety (Miscellaneous Amendments) Bill (“Bill“) was passed in Parliament. The Bill seeks to enhance
Bill to Enhance Online Safety Passed in Parliament Read More »
As a follow-up to our last client update (click here to read the client update) on the personal data protection
A Practical Guide to Getting Your Organisation PDP Law-Ready Read More »
We highlight in this Update some key merger control developments in the Southeast Asia region in Q4 2022, notably in
Key Merger Control Developments in Southeast Asia in Q4 2022 Read More »
In October 2022, the Singapore Exchange Regulation (“SGX RegCo“) published the Cyber Incident Response Guide (“Guide“) to provide guidance on
SGX RegCo Publishes Cyber Incident Response Guide for SGX-Listed Companies Read More »
On 4 November 2022, the Monetary Authority of Singapore (“MAS“) issued the “Consultation Paper on Amendments to the Insurance Act
Pursuant to the Labour Law and Prakas No. 196 MLVT/Pr.K dated 20 August 2014 on the Quota of Foreign Workforce
Reminder on Quota and Extra Quota Application for 2023 Read More »
The grounds on which a Thai court may set aside an arbitral award are set out in section 40 of
Public Policy and Good Morals: Setting Aside Arbitral Awards in Thailand Read More »
The Ministry of Law and the Intellectual Property Office of Singapore are conducting a Public Consultation on the proposed draft
Non-fungible tokens (“NFTs“) are an increasingly ubiquitous digital asset. But as with all changes in technology, questions arise as to
How to Protect Your NFTs – Singapore Court Grants Landmark Injunction Over NFT Read More »
When a company is being wound up or is in judicial management, the Court may order the production of documents
The Shipping Law Updates is a publication by our Regional Shipping Group which marshals legal expertise, industry insight, and commercial
Shipping Law Updates – November 2022 Read More »
The Singapore Exchange Regulation (SGX RegCo) is conducting a public consultation on the following changes to institute better corporate governance
The Monetary Authority of Singapore (“MAS“) is seeking feedback on two consultation papers which set out proposed enhanced regulatory measures
Following the teasers in the announcement by the Prime Minister of Malaysia in August 2022 and the launch of the
Malaysia’s Corporate Green Power Programme: Virtual Power Purchase to the Fore Read More »
On 25 October 2022, Singapore announced its commitment to achieve: (i) “net zero emissions by 2050” as part of its
Singapore’s National Hydrogen Strategy to Achieve Net Zero by 2050 Read More »
On 25 October 2022, the Monetary Authority of Singapore (“MAS“) issued a consultation paper containing its proposals for a Domestic
The costs of legal proceedings is a major consideration influencing a party’s choice of dispute resolution in Vietnam – both
Costs in Arbitration – Vietnam’s Position and Practice Read More »
On 5 October 2022, the UK Supreme Court delivered its long-awaited judgment in BTI 2014 LLC v. Sequana SA and
BTI v Sequana: What the UK Supreme Court Decision Means for Malaysia Read More »
The Ministry of Law has announced that enhanced border enforcement measures relating to certain intellectual property rights will come into
Enhanced IP Border Enforcement Measures to Come into Effect On 21 November 2022 Read More »
In recent years, the consumer credit landscape has seen a rise in “Buy Now Pay Later” (“BNPL“) transactions. BNPL generally
In the course of corporate insolvency, in order to progress from initiating a winding up application to the actual winding
Can a Shareholder or Contributory Oppose a Creditor’s Winding Up Application? Read More »
In claims against healthcare professionals or institutions for medical negligence or other grounds of medical malpractice, the points of contention
Of Evidence and Experts – High Court Dismisses Claim for Medical Negligence Read More »
On 21 October 2022, the Financial Action Task Force (“FATF“) added Myanmar to a group of high-risk countries, known as
FATF Adds Myanmar to Blacklist Read More »
On 18 October 2022, the Monetary Authority of Singapore (“MAS“) published a consultation paper to seek feedback on proposed changes
MAS Consults on Revised Restrictions on E-money Payment Accounts Read More »
Singapore currently does not permit the import and sale of insects as food for human consumption. Presently, only animal feed
The Ministry of Health has launched a Public Consultation on proposed amendments to the Healthcare Services Act (“HCSA“). The amendments
MOH Proposes Enhancements to Healthcare Services Framework Read More »
On 4 October 2022, the Companies Act 1967 and the Limited Liability Partnerships Act 2005 were amended to introduce the
The Ministry of Labour and Vocational Training issued Prakas No. 168/22 MLVT/Br.K.NSSF dated 5 July 2022 on Formalities and Procedures
On 4 March 2021, the Royal Government of Cambodia issued Sub-Decree No. 32 ANK.BK on the Social Security Scheme on
Social Security Pension Scheme Regime in Force from 1 July 2022 Read More »
The carbon tax regime in Singapore is governed under the Carbon Pricing Act 2018 (“CPA“) that provides for, among other
Amendments to Carbon Pricing Act Tabled in Parliament Read More »
On 7 October 2022, the Securities Industry Council issued the “Practice Statement on the Waiver of the Application of the
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