Legal Bulletin September 2021: Allen & Gledhill

29 September 2021

Covid-19

Bill to implement rental waiver framework for businesses impacted by Phase 2 (Heightened Alert) passed

Tripartite partners urge employers to adopt “Vaccinate or Regular Test” regime as company policy

MOM issues advisory to employers on Rostered Routine Testing and charging policy for workers in construction, marine, and process sectors, and in dormitories

Capital Markets

SGX introduces SPAC listing framework

MAS announces package of initiatives to boost equity financing for high-growth enterprises

Competition

CASE and CCCS advise consumers on precautions to adopt when shopping online

Corporate / M&A

Apostille Convention enters into force for Singapore

SGX consults on mandatory climate and board diversity disclosures

ACRA updates BizFin^x preparation tool and multi upload tool

Dispute Resolution

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

Singapore Court of Appeal sets aside ICC awards made in excess of jurisdiction

Employment, Health & Safety

MOM requires employers with at least 10 employees to notify of all retrenchments

Singapore Government accepts Tripartite Workgroup recommendations to uplift wages and well-being of lower-wage workers

ESG & Public Policy

Key insights on initiatives and developments following National Day Rally Speech 2021

Transition to low-carbon electricity generation sources: Consultation on Energy (Resilience Measures and Miscellaneous Amendments) Bill

Intellectual Property

New third party observations and post-grant patent re-examination processes from 1 October 2021

IPOS announces extension of two pilot patent acceleration programmes to speed up patent prosecution in ASEAN and China

Tax

Income Tax (Amendment) Bill introduced to effect tax measures announced in Budget Statement and other changes

Regional News

Malaysia

Malaysia’s Insolvency (Amendment) Act 2020 in effect from 1 September 2021

Bank Negara Malaysia issues policy document on merchant acquiring services

Bank Negara Malaysia issues exposure draft on bancassurance / bancatakaful arrangements

Malaysian Aviation Commission approves country’s first competition-related merger

Malaysia Competition Commission imposes financial penalties against seven warehouse operators for colluding in price fixing

An overview of merger control in Malaysia

Myanmar

Central Bank of Myanmar stipulates unused export income in foreign currency to be sold within four months of receipt

Myanmar fiscal year for banks and financial services providers to run from 1 April to 31 March

Indonesia

Indonesia issues new government guidelines for working during the Covid-19 pandemic: Changes to employment conditions are fine - as long as employees consent

Indonesia’s highly anticipated regulation on digital banks released

India

Indian Supreme Court enforces SIAC’s emergency arbitrator order in India-seated arbitration: Impact and consideration for foreign investors

Publications

Singapore Institute of Directors Conference 2021: The Dawn and Permanence of ESG - Why It Matters

Singapore Academy of Law Annual Review 2020: Equity and Trusts

Singapore Academy of Law Annual Review 2020: Admiralty and Shipping Law

Deals

Issue of US$800 million notes by DBS Group Holding Ltd

R$3 billion financing of Eixo SP Concessionária de Rodovias S.A.

US$30 million Series A funding in Bazaar by Wavemaker Pacific 3, L.P. and Defy Partners II, LP

Share subscription by SCCP DC Investments Pte. Ltd. and joint venture with Abner Investments Pte. Ltd. in relation to SC Zeus Data Centers Pte. Ltd.

Awards & Rankings

Allen & Gledhill and its network firms ranked in ALB M&A Rankings 2021

Allen & Gledhill recognised as leading firm for Copyright & related rights in Managing IP’s IP STARS 2021