Financial Services Bulletin August 2021: Allen & Gledhill

30 August 2021

Covid-19

Covid-19: MOM updates advisory on requirements for safe management measures at the workplace to allow more employees to return

Covid-19: Application period for Simplified Insolvency Programme extended to 28 July 2022

Capital Markets

SGX RegCo expands enforcement powers and mandates issuers to have whistleblowing policy

Competition

CCCS seeks feedback on proposed Business Collaboration Guidance Note

Antitrust in Singapore: H1 2021 in Review

Antitrust developments in South-east Asia: April to June 2021

Corporate / M&A

MOF, ACRA consult on proposed enhancements to Singapore’s regime on transparency and beneficial ownership of companies and LLPs

Apostille Act 2020 abolishes legalisation requirements for foreign public documents from 16 September 2021

Dispute Resolution

Courts (Civil and Criminal Justice) Reform Bill introduced to support digital transformation of judiciary and implement Civil Justice Reform proposals

Employment, Health & Safety

MOM, NTUC and SNEF form Tripartite Committee on Workplace Fairness to review framework for workplace fairness in Singapore

Bill passed to amend Child Development Co-Savings towards family-friendly policies at the workplace

ESG & Public Policy

Extended Producer Responsibility system for e-waste management system under Resource Sustainability Act 2019 implemented

Financial Regulatory

Steering Committee for SOR & SIBOR Transition to SORA publishes updated timelines and recommendations for transition from legacy use of SOR

Regional News

Malaysia

Securities Commission Malaysia revises guidelines on sustainable and responsible investment funds

Securities Commission Malaysia issues guidelines on offer of shares by unlisted public companies

Asian International Arbitration Centre issues Arbitration Rules 2021

Malaysia Federal Court holds directors jointly and severally liable for failure of company to make employer contributions to statutory fund

Malaysia Court of Appeal rules companies must be de-listed once winding-up order is made

Myanmar

Central Bank of Myanmar issues new rules regarding appointment of foreign employees

Vietnam

Vietnam amends obligations of offshore entities in relation to cross-border advertising activities

Indonesia

New risk-based business licensing system to be implemented in Indonesia

Indonesia Competition Commission issues new guidelines on fines for competition law violations

India

Singapore and India seek to enhance collaboration on mediation

Publications

Practical Law Employment and Employee Benefits Global Guide - Employment and employee benefits in Singapore

The International Arbitration Review (12th Ed, 2021)

The Restructuring Review (14th Ed, 2021)

Deals

Issue of US$2.5 billion guaranteed notes by Temasek Financial (I) Limited

S$2.2 billion privatisation of Singapore Press Holdings Limited via a scheme of arrangement

Issue of S$1.5 billion notes by Temasek Financial (I) Limited

S$861.75 million green loan facilities to Phoenix Commercial Pte. Ltd. and Phoenix Residential Pte. Ltd.

Issue of S$750 million notes by Housing and Development Board

Second S$400 million Indian logistics private fund launched by CapitaLand Limited

Series A investment in Parcel Perform Pte. Ltd. by SoftBank Ventures Asia Corp.

SP Group partners BCG Energy on solar project in Vietnam

Awards & Rankings

Allen & Gledhill maintains top position in latest IFLR1000 rankings, with most number of lawyers recognised across all practices

Allen & Gledhill recognised as top law firm in Who’s Who Legal’s Southeast Asia 2021 guide

Allen & Gledhill recognised as leading firm for Intellectual Property Transactions in Managing IP’s IP STARS 2021

Rahmat Lim & Partners clinches four awards at the Asian Legal Business Malaysia Law Awards 2021