29 September 2022
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Covid-19
MOM updates advisory on requirements for safe management measures at the workplace
MOM issues advisory on Covid-19 vaccination requirements to apply for and renew passes
Competition & Antitrust
China revamps Anti-Monopoly Law: Below-threshold merger notifications and increased penalties, among other changes
Antitrust developments in South-east Asia: April to June 2022
Corporate / M&A
SGX RegCo to consult on hard coding nine-year cap on ID tenure, requiring disclosure of actual remuneration of directors and CEOs
Cybersecurity & Data Protection
CSA issues Singapore Cyber Landscape 2021 highlighting key malicious cyber activities in 2021, anticipated cybersecurity trends and initiatives to combat cyberthreats
Dispute Resolution
SICC dismisses application to set aside arbitral award on grounds of invalidity of arbitration agreement and breach of rules of natural justice
Employment, Health & Safety
Targeted enhancements to work pass framework announced
Updates to Employment Pass qualifying salary from 1 September 2022 for new applications
MOM announces heightened safety period measures to address spate of workplace fatalities: 1 September 2022 to 28 February 2023
Tripartite partners establish workgroup on representation for platform workers
Code of practice on WSH duties of chief executives and board of directors launched, to be gazetted by October 2022
ESG & Public Policy
SGX Group and MAS launch SGX ESGenome disclosure portal to streamline sustainability reporting and enhance investor access to ESG data
NCCS conducts public consultation on raised climate ambition and low-carbon transition
NEA launches public consultation on Beverage Container Return Scheme
Q2 2022 Review: Key ESG and public policy developments in Singapore
Intellectual Property
IP Week @ SG 2022: New programmes for start-ups and youth, launch of trade secrets guide and MOUs to boost global IP cooperation announced
PCT-ASEAN Patent Examination Cooperation pilot programme extended till 26 August 2025
Real Estate
Stamp Duties Act 1929 amended from 10 May 2022 to introduce ACD for equity interests of property holding entities transferred into living trust
Tax
Bill to amend Income Tax Act 1947 introduced to implement tax changes in 2022 Budget Statement
Regional News
Malaysia
Malaysia’s Labuan Companies Act 1990 amended to strengthen regulatory framework
All employees irrespective of wages to be covered under amended Malaysia Employment Act 1955 from 1 January 2023
Securities Commission Malaysia expands SRI Sukuk and Bond Grant Scheme to facilitate sustainable finance
Myanmar
Myanmar clarifies rules regarding conversion and use of foreign currency for exporters and others
Repeal of “value-added” criteria in Myanmar for export of certain crops
Indonesia
Indonesia’s Personal Data Protection Law has finally been passed - What is new?
Indonesia issues regulation on accelerating development of renewable energy for power, seeking end of coal-fired power plants by 2050
Publications
The Venture Capital Law Review (2nd Ed, 2022)
The Real Estate M&A and Private Equity Review (7th Ed, 2022)
Singapore Academy of Law Journal: Distinctly confusing - Clarifying the applicability of acquired distinctiveness under Singapore trade mark law
Deals
Establishment of S$10 billion multicurrency medium term note programme and issue of S$800 million 3.43% green notes due 2052 by Public Utilities Board
Issue of S$1 billion fixed rate notes due 2029 by Housing and Development Board
S$978 million sustainability-linked credit facilities to DBS Trustee Limited
US$50 million investment in OnPoint Holdings Pte. Limited by SeaTown Holdings International Pte. Ltd.
Awards & Rankings
Allen & Gledhill recognised as Tier 1 firm for M&A and Restructuring and Insolvency by IFLR1000, with most number of lawyers recognised across all practices
Allen & Gledhill and its network firms maintain top tier rankings in ALB M&A Rankings 2022
Allen & Gledhill continues to be only Singapore law firm ranked Tier 1 in World Tax 2023
