Legal Bulletin April 2021: Allen & Gledhill

28 April 2021

Capital Markets

SGX consults on proposed listing framework for SPACs

Construction & Engineering

Relief periods under Covid-19 (Temporary Measures) Act 2020 extended for built environment sector, framework allowing developers to extend date of delivery of possession to be refined

Corporate / M&A

Covid-19: MinLaw further extends duration of legislation for alternative meeting arrangements

Dispute Resolution

Singapore Court of Appeal affirms foreign-incorporated entities prohibited from self-representation before Singapore International Commercial Court

Employment

Covid-19: MOM updates advisory on requirements for safe management measures at the workplace to allow greater flexibility for businesses

FinTech

MAS issues infographic on Strengthening AML/CFT Controls of Digital Payment Token Service Providers

Intellectual Property

Singapore IP Strategy 2030 launched

Public Policy

Singapore ratifies Regional Comprehensive Economic Partnership Agreement

Singapore ratifies ASEAN Trade in Services Agreement

Real Estate

Singapore Business Federation announces introduction of Code of Conduct for Leasing of Retail Premises

White Collar & Investigations

MinLaw introduces new registration scheme and notification requirements for precious stones and precious metals dealers, and provides online training for submission of semi-annual returns

General

Amendments in the pipeline to Postal Services Act to establish statutory framework for nationwide network of parcel lockers

Regional News

Malaysia

Securities Commission and Bursa Malaysia to grant waiver for companies seeking to list

Bank Negara Malaysia announces further liberalisation of foreign exchange policy

Malaysian Anti-Corruption Commission announces first corporate liability charge in relation to bribery

Malaysia Ministry of Housing and Local Government issues guidelines allowing licensed moneylenders to provide loans online from May 2021

Malaysia amends winding-up threshold

Malaysia’s Federal Court lays down principles on fixed term contracts and permanent employment

Malaysia’s Federal Court holds service charge cannot be utilised to pay minimum wages

Indonesia

Indonesia statutory holiday allowance (THR): Only negligible relief for employers

Company fined Rp3.3 billion for late acquisition notification

Indonesian Commercial Court renders its first decision following the appeal procedure changes for competition cases

Vietnam

Vietnam issues new guidance on implementation of Law on Land and Law on Residential Housing

Publications

The International Comparative Legal Guide to Enforcement of Foreign Judgments 2021

Global Legal Insights to International Arbitration 2021

IBA Asia Pacific Regional Forum: Recent developments in Singapore arbitration law

Practical Law Cross-border Commercial Transactions: Supply of goods Q&A

Practical Law Cross-border Intellectual Property: Intellectual property right licences Q&A and intellectual property right assignments Q&A

Practical Law Merger Control Global Guide

Practical Law Restraints of Trade Global Guide

Deals

Proposed listing of Grab on NASDAQ through a US$39.6 billion business combination with special purpose acquisition company Altimeter Growth Corp.

S$10.3 billion proposed strategic restructuring and demerger of the investment management platforms of CapitaLand Limited

S$1.160 billion rights issue of new ordinary shares by Frasers Property Limited

S$1.094 billion voluntary conditional cash offer for GL Limited

Issue of US$643 million asset-backed securities by Astrea VI Pte. Ltd.

S$633.8 million term and revolving credit facilities to BPH Propco LLP

Launch of the Singapore Financial Data Exchange

Awards & Rankings

Allen & Gledhill wins Singapore Corporate & Finance Domestic Law Advisers award at Chambers Asia-Pacific Awards 2021