Legal Bulletin March 2021: Allen & Gledhill

30 March 2021

Competition

IMDA conducts second consultation on draft Code of Practice for Competition in the Provision of Telecommunication and Media Services

Antitrust in Singapore: 2020 in Review

Corporate / M&A

Electronic Transactions Act amended on 19 March 2021 to include electronic transferable records

SGX RegCo allows Mainboard issuers up to 31 December 2021 to seek or renew enhanced share issue limit amid Covid-19

ACRA updates practice on (1) annual filing for foreign companies and (2) applications for reliefs under the Companies Act for local and foreign companies

Dispute Resolution

Singapore Court of Appeal holds that there is no fall-back role for lex fori when determining which law governs a contract where the contract’s existence is in dispute

Employment

MOM to require Dependant’s Pass holders who wish to work to apply for work pass from 1 May 2021

Intellectual Property

MinLaw and IPOS release second part of public consultation on draft Copyright Bill on collective management organisations and Copyright Tribunals

Maritime & Aviation

Singapore High Court rules for the first time that the “Single Liability Principle” does not apply in a collision claim between two ships where the claim of one ship is time-barred

Public Policy

Singapore-Indonesia Bilateral Investment Treaty enters into force

Real Estate

Proxy restrictions at general meetings for en bloc sales in force from 18 January 2021

Restructuring & Insolvency

The requirement of “feasibility” for moratorium applications under the new Insolvency, Restructuring and Dissolution Act

General

Amendments to Postal Services Act introduced to establish statutory framework for nationwide network of parcel lockers

Regional News

Malaysia

Malaysia amends Financial Services Act 2013, Islamic Financial Services Act 2013 and Development Financial Institutions Act 2002 to permit additional disclosures

Malaysia’s emergency ordinance on fake news in force from 12 March 2021

Malaysia amends Employees’ Minimum Standards of Housing, Accommodations and Amenities Act 1990

Malaysia Competition Commission imposes RM10.3 million fine against Dagang Net

Federal Court of Malaya holds arbitrator may draw on own knowledge and expertise to determine loss of profit suffered by subcontractor owing to wrongful termination of contract

Indonesia

Indonesia issues new “positive investment list”, replacing the “negative investment list”

Against all odds: Soemadipradja & Taher in Indonesia helps secure a win for PT Astra Honda Motor in a competition complaint initiated by KPPU

Employment termination under Indonesia law: What is different under the February 2021 Government Regulation?

Vietnam

Vietnam issues guidance on implementation of Law on Securities 2019

Vietnam issues policies and incentives in support of science and technology enterprises

Publications

Practical Law Cross-border Commercial Transactions: Sponsorship Q&A

Practical Law Cross-border Commercial Transactions: Confidentiality Q&A

Practical Law Cross-border Commercial Transactions: Memorandum of understanding Q&A

The Cartels and Leniency Review (9th Ed, 2021)

CDR Essential Intelligence - Fraud, Asset Tracing & Recovery

Deals

Issue of S$250 million sustainability-linked notes under the US$1 billion multicurrency debt issuance programme of Surbana Jurong Private Limited

Issue of US$600 million notes by Agricultural Bank of China Limited

Issue of S$900 million notes by Housing and Development Board

S$280.9 million acquisition of Caldecott Broadcast Centre, Andrew Road, in Singapore by PRE 10 Pte. Ltd.

News

Allen & Gledhill establishes two new Practices, and expands two specialist Practices to help clients seize new opportunities arising from the new normal

Awards & Rankings

Allen & Gledhill maintains top tier ranking in the Asia IP Copyright Survey 2021 rankings

Allen & Gledhill named Most Innovative National Law Firm of the Year (Singapore) at the IFLR Asia-Pacific Awards 2021