Legal Bulletin May 2021: Allen & Gledhill

28 May 2021

Covid-19

Covid-19: MOM updates advisory on requirements for safe management measures at the workplace with effect from 16 May 2021

Covid-19: New relief framework announced to allow adjustment of contract sums due to increased foreign manpower costs

Competition

Antitrust developments in South-east Asia: January to March 2021

Corporate / M&A

ACRA defers implementation of two-tier penalty framework to allow more time for transition

Dispute Resolution

Singapore Court of Appeal provides guidance on trustees seeking to retire

Employment, Health & Safety

New Tripartite Standard on Work-Life Harmony launched to boost workplace morale and performance

ESG & Public Policy

Q1 2021 Review: Five key ESG and public policy developments in Singapore

Emerging Stronger Taskforce publishes recommendations for a virtually unlimited and sustainable Singapore in a post Covid-19 economic environment

Green Finance Industry Taskforce launches guide for climate-related disclosures and framework for green trade finance

FinTech

MAS commits S$42 million to spur adoption of technology solutions for risk management and regulatory compliance

Intellectual Property

Singapore IP Strategy 2030 launched

Singapore High Court finds visual and aural similarity in trade marks that contain identical but weak distinctive element

Real Estate

Land Betterment Charge Bill passed in Parliament: New charge to replace development charge, temporary development levy and differential premium

Technology, Media & Telecommunications

Escrow for Crypto-Assets: Bridging the Trust Gap

Venture Capital

EDB New Ventures launches programme to support companies to create ventures from Singapore within six months

General

IMDA launches nationwide parcel locker network, Postal Services Act amended with effect from 14 May 2021

Regional News

Malaysia

Securities Commission Malaysia updates Code on Corporate Governance to promote board leadership and oversight of sustainability

Bank Negara Malaysia issues guidance document on climate change and principle-based taxonomy

Malaysia expands list of employers eligible under Human Resources Development Fund Act 2001

Malaysia Court of Appeal sets aside RM10 million fine imposed by MyCC on AirAsia and MAS

Malaysia Court of Appeal grants leave for Grab’s judicial review application to be heard on merits

Malaysia Court of Appeal rejects ground of dismissal raised for first time in Industrial Court

Vietnam

Guidance on Vietnam’s Law on Public Private Partnership in force from 29 March 2021

Vietnam issues new criteria for determining high-tech enterprises

China

China’s 14th Five-Year Plan: Promoting “dual circulation” and more

Publications

LexisPSL Financial Services: International Financial Markets Guide

The International Comparative Legal Guide to Drug & Medical Device Litigation 2021

The International Comparative Legal Guide to Public Investment Funds 2021

The International Comparative Legal Guide to Project Finance 2021

Practical Law Dispute Resolution Global Guide - Litigation and Enforcement in Singapore: Overview

The Financial Technology Law Review (4th Ed, 2021)

The Corporate Governance Review (11th Ed, 2021)

Deals

Issue of US$850 million notes by GLP Pte. Ltd.

Issue of S$1 billion subordinated perpetual securities by Singtel Group Treasury Pte. Ltd.

S$904.6 million acquisition of portfolio of 11 data centres in Europe by Ascendas Real Estate Investment Trust

US$95 million Series D financing of Mobile Premier League co-led by a private investor

US$65 million Series D financing of Indonesia’s Bibit led by Sequoia Capital India

Joint build agreement to own and develop the Bifrost Cable System, the world’s first subsea cable system connecting Singapore directly to North America via Indonesia

Awards & Rankings

Allen & Gledhill ranked in ALB Intellectual Property Rankings 2021

Allen & Gledhill ranked top tier in Benchmark Litigation Asia-Pacific 2021

Allen & Gledhill Partners recognised in IFLR1000 Women Leaders 2021 - Asia Pacific