SCAM ALERT!

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SCAM ALERT!

Year in review 2023 →

Regional Round-up
Issue 3 of 2021

Your Snapshot of Key Legal Developments in Asia

Issue 3 of 2021 (Jul / Aug / Sep)

Cover Story

SINGAPORE

Singapore SPACs Listing Framework Takes Effect on 3 September 2021
With effect from 3 September 2021, Special Purpose Acquisition Companies (“SPACs”) are allowed to list on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX-ST Mainboard”), providing companies an attractive alternative capital fund raising route.

This follows Singapore Exchange Limited (“SGX”) consultation paper released in March 2021. The consultation paper set out key features of the listing framework that are aimed at balancing investors’ interests against the capital raising needs of the market.

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rEGIONAL ROUND-UP

2024

2023

2022

2021

Cambodia

Phase II of New IT Platform for Business Registration

New Prakas on Procedures for Certification and Recordal of Exclusive Right of Using Mark

MPWT Issues Prakas Requiring Companies to Apply for Licence and Certificate for Digital Hailing Services for Road Transport Operation
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China

China Releases Regulation on Protecting Security of Critical Information Infrastructure

China Publishes Regulations on Management of Automobile Data Security

China's Personal Information Protection Law Comes Into Effect on 1 November 2021

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Indonesia

Leveling the Playing Field, the Government Cuts Income Tax Rate on Bonds for Local Investors

OJK Reaffirms Relaxation to Listing Requirements

KPPU Introduces Guidelines on Administrative Fines

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Laos

Singapore to Trial Import of Electricity from Laos

Digital Government Transformation Study and Lao Font Further Development

Bank of Lao PDR Issues Instruction on Converting Foreign Exchange Stores into Commercial Bank Representatives

Decision on the Management of Accounting Software Comes into Operation on 28 July 2021


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Malaysia

The Dividing Line between Indemnities and Guarantees

BNM Issues Exposure Draft of Policy Document on Bancassurance/Bancatakaful

Recent Malaysian Court Decision Sheds Light on Proof of Debt Exercise in Schemes of Arrangement and the Test for Granting Leave to Proceed against Restraining Order

The Enforcement of Accounting Fraud under the Capital Markets and Services Act 2007
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Myanmar

Updates to the State of Emergency in Myanmar

Updates from the Central Bank of Myanmar

Restrictions to the Importation of Motor-Vehicle

E-Filing System to be Used in Commercial and Special Goods Tax Returns

Foreign Employee Restrictions Issued by the Central Bank of Myanmar


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Philippines

PCC Resumes Motu Proprio Review of M&As After 1-year Moratorium

NPC Issues Advisories on Adoption of International Data Protection Standards on Security Techniques

NPC Highlights Privacy Protection in Anti-fraud Data Sharing Initiatives of Financial Industry

NPC Issues Advisory Opinion on Adoption of ASEAN Cross-border Tools to Boost Digital Competitiveness

BIR Suspends Imposition of VAT on Local Purchases of RBEs


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Singapore

Singapore Introduces Proposed New Laws to Counteract Foreign Interference

Singapore SPACs Listing Framework Takes Effect on 3 September 2021

Developments in Cross-Border Paperless Trade - Singapore Collaborates with Australia and Trade Partners on Blockchain and Other Trade Initiatives

Capital Gains, Branch Profits, Royalties: Updates to the Singapore-Indonesia Double Taxation Agreement

Singapore Court of Appeal Considers Application of UNCITRAL Model Law on Cross-Border Insolvency for the First Time
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Thailand

Relaxation of Limitations for Foreign Arbitrators or Representatives in Thai Arbitral Proceedings

Social Security Fund Contributions Reduced for Further Three Months Due to COVID-19 Outbreak

Foreign E-service Providers Required to Register as VAT Registrants in Thailand

Measures to Alleviate COVID-19 Lockdown Policy for Employers and Employees







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Vietnam

Amending Decree on E-commerce

New Decree on Cross-Border Advertising Activities
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Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

Rajah & Tann Asia is a network of legal practices based in Asia.

Member firms are independently constituted and regulated in accordance with relevant local legal requirements. Services provided by a member firm are governed by the terms of engagement between the member firm and the client.

This website is solely intended to provide general information and does not provide any advice or create any relationship, whether legally binding or otherwise. Rajah & Tann Asia and its member firms do not accept, and fully disclaim, responsibility for any loss or damage which may result from accessing or relying on this website.

© 2024 Rajah & Tann Asia. All Rights Reserved. All trademarks are property of their respective owners.

Rajah & Tann Asia is a network of legal practices based in Asia.

Member firms are independently constituted and regulated in accordance with relevant local legal requirements. Services provided by a member firm are governed by the terms of engagement between the member firm and the client.

This website is solely intended to provide general information and does not provide any advice or create any relationship, whether legally binding or otherwise. Rajah & Tann Asia and its member firms do not accept, and fully disclaim, responsibility for any loss or damage which may result from accessing or relying on this website.

© 2024 Rajah & Tann Asia. All Rights Reserved. All trademarks are property of their respective owners.