Legal Updates

China Issues Implementation Measures for the Administration of Company Registration

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 »

Prakas on Public Offering of Equity Securities of Holding Company

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 »

Guidelines for Solar Photovoltaic Installation for Self-Consumption in Peninsular Malaysia – A Step Forward or Backward?

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.

Guidelines for Solar Photovoltaic Installation for Self-Consumption in Peninsular Malaysia – A Step Forward or Backward? Read More »

OJK Regulation No. 45 of 2024: A Framework for Strengthening Corporate Governance and Streamlining the Public Offering Process

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).

OJK Regulation No. 45 of 2024: A Framework for Strengthening Corporate Governance and Streamlining the Public Offering Process Read More »

Taking Evidence under the NCAC Rules: Overview and Comparison with International Best Practices

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.

Taking Evidence under the NCAC Rules: Overview and Comparison with International Best Practices Read More »

Circular on Banning the Propagation of Illegal Gambling

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 »

Food Safety and Security Bill Passed – Enhancing Food Safety and Security Regime in Singapore

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.

Food Safety and Security Bill Passed – Enhancing Food Safety and Security Regime in Singapore Read More »

Commencement of China-Singapore FTA Further Upgrade Protocol (w.e.f. 31 Dec 2024) – Enhancing Market Access and Clarifying Rules for Singapore Businesses

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.

Commencement of China-Singapore FTA Further Upgrade Protocol (w.e.f. 31 Dec 2024) – Enhancing Market Access and Clarifying Rules for Singapore Businesses Read More »

Stamp Duty Tax Exemption and Relief on the Transfer of Ownership or Possessory Rights of Real Estate for First-Time Home Buyers

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”).

Stamp Duty Tax Exemption and Relief on the Transfer of Ownership or Possessory Rights of Real Estate for First-Time Home Buyers Read More »

CCCS Provides Positive Guidance on First Competitor Collaboration with Environmental Sustainability Objectives Using Streamlined Process

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.

CCCS Provides Positive Guidance on First Competitor Collaboration with Environmental Sustainability Objectives Using Streamlined Process Read More »

Valuing an Asset in an Undervalue Transaction Claim: Equitable Value or Market Value?

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 »

BCA Proposes to Enhance Code on Accessibility in the Built Environment to Address Gaps and Future Needs of Persons with Disabilities, Elderly and Young Families

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”).

BCA Proposes to Enhance Code on Accessibility in the Built Environment to Address Gaps and Future Needs of Persons with Disabilities, Elderly and Young Families Read More »

Commencement of Phase 1 of New Maintenance Enforcement Process (w.e.f. 16 January 2025) to Deter Non-Payment and Facilitate Enforcement

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.

Commencement of Phase 1 of New Maintenance Enforcement Process (w.e.f. 16 January 2025) to Deter Non-Payment and Facilitate Enforcement Read More »

Singapore Customs Introduces New Procedure for Land Intermodal Transhipments as Part of Ongoing Efforts to Streamline Trade Processes

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.

Singapore Customs Introduces New Procedure for Land Intermodal Transhipments as Part of Ongoing Efforts to Streamline Trade Processes Read More »

An Overview of Recent Developments and Upcoming Laws Regulating the TMT Space in Malaysia

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).

An Overview of Recent Developments and Upcoming Laws Regulating the TMT Space in Malaysia Read More »

MAS Roadmap to Cease Use of SGD Corporate Cheques and Digital Payment Solutions for Post-dated Payments

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.

MAS Roadmap to Cease Use of SGD Corporate Cheques and Digital Payment Solutions for Post-dated Payments Read More »

ACRA (Registry and Regulatory Enhancements) Act 2024 Takes Effect Partially on 9 December 2024, Digitalising Communications and Enhancing Data Protection

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”).

ACRA (Registry and Regulatory Enhancements) Act 2024 Takes Effect Partially on 9 December 2024, Digitalising Communications and Enhancing Data Protection Read More »

PRC Issues Emergency Response Plan for Data Security Incidents for Trial Implementation

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 »

Australia and Singapore Partner to Promote Sustainable Infrastructure and Decarbonisation in Southeast Asia

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.

Australia and Singapore Partner to Promote Sustainable Infrastructure and Decarbonisation in Southeast Asia Read More »

Enhancing Online Safety in Singapore: Public Consultation on Measures to Provide Redress and Increase Accountability

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

Enhancing Online Safety in Singapore: Public Consultation on Measures to Provide Redress and Increase Accountability Read More »

IPOPHL Issues Rules of Procedure on the Resolution of Actions Without Provisional Remedies in Intellectual Property Cases with Delimited Damages

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.

IPOPHL Issues Rules of Procedure on the Resolution of Actions Without Provisional Remedies in Intellectual Property Cases with Delimited Damages Read More »

Language Requirements in Contracts Applying Indonesia Law: Insights from Recent Legal Developments (适用印尼法的合同中的语言要求:近期法律发展的见解)

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.

Language Requirements in Contracts Applying Indonesia Law: Insights from Recent Legal Developments (适用印尼法的合同中的语言要求:近期法律发展的见解) Read More »

Block Exemption Order Renewed for Certain Liner Shipping Agreements for Five Years to 31 Dec 2029, Excluding Inland Carriage

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.

Block Exemption Order Renewed for Certain Liner Shipping Agreements for Five Years to 31 Dec 2029, Excluding Inland Carriage Read More »

Changes to Casino Control Act Effective from 30 Oct 2024 to Enhance Operational Effectiveness of Regulatory Regime, Regularise Casino Entry Levies

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.

Changes to Casino Control Act Effective from 30 Oct 2024 to Enhance Operational Effectiveness of Regulatory Regime, Regularise Casino Entry Levies Read More »

Establishment of Global Finance & Technology Network to Enhance FinTech Growth in Singapore

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.

Establishment of Global Finance & Technology Network to Enhance FinTech Growth in Singapore Read More »

Bill Tabled in Parliament to Amend Customs Act to Strengthen Customs’ Regulatory and Enforcement Regime

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.

Bill Tabled in Parliament to Amend Customs Act to Strengthen Customs’ Regulatory and Enforcement Regime Read More »

MAS Guidelines Issued to Provide Guidance on Requirements for FIs to Share AML/CFT information through COSMIC Platform

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”).

MAS Guidelines Issued to Provide Guidance on Requirements for FIs to Share AML/CFT information through COSMIC Platform Read More »

Preparations for Platform Workers Act: Work Injury Compensation Insurance, Notification of Platform Operator Status

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.

Preparations for Platform Workers Act: Work Injury Compensation Insurance, Notification of Platform Operator Status Read More »

EMA, NTU and Enterprise Singapore Developing Playbook on Scope 2 Emission Reduction for Singapore Businesses

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”).

EMA, NTU and Enterprise Singapore Developing Playbook on Scope 2 Emission Reduction for Singapore Businesses Read More »

Commencement of Second Phase of the United States-Singapore Feasibility Study on Regional Energy Connectivity

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.

Commencement of Second Phase of the United States-Singapore Feasibility Study on Regional Energy Connectivity Read More »

Enhancing AML/CFT Audits for Financial Institutions – Singapore’s First Industry-Led Best Practice Paper; MAS Circular on Audits of AML/CFT Policies, Procedures and Controls

On 21 October 2024, the Monetary Authority of Singapore (“MAS”) issued a Circular on “Audit of AML/CFT Policies, Procedures and Controls” (“Circular”).

Enhancing AML/CFT Audits for Financial Institutions – Singapore’s First Industry-Led Best Practice Paper; MAS Circular on Audits of AML/CFT Policies, Procedures and Controls Read More »

MAS Consults on Proposed Regulations, AML/CFT Notice and Guidelines, for Regulatory Framework for Virtual Asset Service Providers under FSMA

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”).

MAS Consults on Proposed Regulations, AML/CFT Notice and Guidelines, for Regulatory Framework for Virtual Asset Service Providers under FSMA Read More »

CSA Launches Guidelines on Securing Artificial Intelligence Systems

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 »

MPA Sets Out Upcoming Initiatives in Maritime Digitalisation, Decarbonisation and Manpower Development

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.

MPA Sets Out Upcoming Initiati