27 March 2024
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Competition & Foreign Investment Review
CCCS publishes Guidance Note on Business Collaborations Pursuing Environmental Sustainability Objectives
Construction & Engineering
BCA sets out initiatives to support transformation in built environment sector
Corporate / M&A
MOF and ACRA consult on proposed legislative amendments relating to digital communications and regulatory enhancements
SGX RegCo proposes changes to Listing Rules to aid company restructuring
EnterpriseSG enhances Partnerships for Capability Transformation scheme to cover expanded range of industry segments and partnership modalities
Cybersecurity & Data Protection
Singapore studying introduction of Digital Infrastructure Act
Employment, Health & Safety
MOM to raise Employment Pass qualifying salary from 1 January 2025 and Local Qualifying Salary from 1 July 2024
MOM to raise retirement and re-employment ages to 64 and 69 respectively in 2026
Energy, Infrastructure & Projects
Singapore to establish Future Energy Fund to invest in energy transition infrastructure
ESG & Public Policy
ACRA, SGX RegCo respond to feedback from consultation on Sustainability Reporting Advisory Committee recommendations: Mandatory climate reporting for listed issuers and large non-listed companies
New provisions on segregation, treatment, and reporting requirements relating to food waste come into force
Government enhances support for businesses in transition to low-carbon and sustainable future
NCSS conducts public consultation on sustainable philanthropy framework
Logistics industry to accelerate pace of green transition with new initiatives to intensify companies’ sustainability efforts and capabilities
Singapore aims to become leading global geospatial hub with strategies set out in new master plan
Singapore and Indonesia to collaborate on carbon capture and storage
Singapore and Australia sign MOU on green and digital shipping corridor and develop principles to guide development of cross-border electricity trade
FinTech
Three key FinTech trends in 2023
Intellectual Property
Singapore High Court finds film distributor liable for copyright infringement in first case invoking Simplified Process for Certain IP Claims
Medico-Legal
Infectious Diseases (Amendment) Bill passed in Parliament: Upcoming update to Singapore’s public health postures
Technology, Media & Telecommunications
MCI announces AI initiatives in alignment with National AI Strategy, including PDPC Advisory Guidelines on the Use of Personal Data in AI Recommendation and Decision Systems
Singapore and Malaysia sign MOU to strengthen cooperation to tackle scams across telecommunications channels
White Collar & Investigations
Registrar of Regulated Dealers issues notice relating to call for action in accordance with February 2024 FATF statement
Regional News
Indonesia
Indonesia seeks to strengthen venture capital industry with new law and initiatives
Indonesia Financial Services Authority issues new regulation on FinTech
Malaysia
Malaysia High Court determines bids in first round of tenders under order for sale of vessel remain valid during subsequent rounds
High Court finds Malaysia to be appropriate forum for dispute despite contrary exclusive jurisdiction clause
Bank Negara Malaysia revises policy documents on anti-money laundering, countering financing of terrorism, countering proliferation financing, and targeted financial sanctions
Securities Commission Malaysia revises LOLA Guidelines, introducing categories of sophisticated investors
Securities Commission Malaysia revises Guidelines on Recognized Markets
Myanmar
Central Bank of Myanmar issues guidelines on payment procedures for using special rupee vostro account in India-Myanmar bilateral trade
Central Bank of Myanmar sets out procedure for agent banking services
Vietnam
Amended Law on Credit Institutions to bring significant change to Vietnam banking sector from 1 July 2024
Vietnam’s Telecoms Law overhauled to align with digital economy
Vietnam clarifies rules on foreign ownership and raising capital in new Law on Residential Housing
Publications
Practical Law: Memorandum for Incoming Directors on Their Duties and Potential Liabilities - Singapore
Practical Law: Tax Considerations in Joint Ventures - Singapore
Practical Law: Employment and Employee Benefits in Singapore
Practical Law: Commercial Real Estate in Singapore
Bits & Bytes: Legal implications - Beijing Internet Court grants copyright protection to AI-generated artwork
Bits & Bytes: Mickey Mouse enters the public domain - The end of a cultural icon?
Deals
S$950 million sustainability-linked term loan facility to HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Suntec Real Estate Investment Trust)
Issue of S$700 million fixed rate notes by Housing and Development Board
Issue of CNY750 million notes due 2029 by Temasek Financial (I) Private Limited guaranteed by Temasek Holdings (Private) Limited
US$32 million pre-Series B financing of UNOAsia led by Gateway Partners
US$10 million series seed financing of LXA
US$3 million series seed round investment in Meiro Pte. Ltd. led by Wavemaker Pacific 4, L.P.
Series seed financing of Penguin Securities Holdings Pte. Ltd.
Transfer of Phu My 3 BOT Thermal Power Plant to Vietnam Ministry of Industry and Trade and Vietnam Electricity
Awards & Rankings
Allen & Gledhill named National Law Firm of the Year (Singapore) at the IFLR Asia-Pacific Awards 2024
Allen & Gledhill maintains its top tier ranking in the Asia IP Copyright Survey 2024 Rankings
