Legal Bulletin September 2024

27 September 2024

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Competition & Foreign Investment Review

Antitrust developments and enforcement activity in South-east Asia: April to June 2024

Corporate / M&A

Introduction of contact address to replace alternate address by end-2024

Cybersecurity & Data Protection

CSA announces updated Operational Technology Cybersecurity Masterplan 2024

Dispute Resolution

SIAC launches online arbitration case management system

Singapore Court of Appeal upholds stay in favour of arbitration, affirms nature of unconditional on-demand performance bonds

Employment, Health & Safety

Enhanced paternity leave and new shared parental leave scheme from 1 April 2025

Platform Workers Bill passed in Parliament to strengthen protections for platform workers

Singapore High Court upholds employers’ right to terminate employee for failure to meet performance targets and recover “golden hello” cash advances paid to employee

Energy, Infrastructure & Projects

Parliament passes Energy Transition Measures and Other Amendments Bill

ESG & Public Policy

New Action for Alliance formed to develop guidelines on sustainable packaging for e-commerce sector

Singapore and Japan deepen collaboration opportunities on carbon capture and storage

Singapore and India to boost collaboration in new and innovative areas

Intellectual Property

IPOS announces more support to deepen IP competency in Singapore’s wider innovation sector

IPOS announces global initiatives: Expansion of PPH network, enhancement to CS&E programme, and re-registration of registered designs

Private Wealth

MAS announces new screening report requirement for tax incentive applications for fund vehicles managed by family offices

Technology, Media & Telecommunications

MHA consults on proposed Protection from Scams Bill empowering Police to issue restriction orders to banks to restrict banking transactions of scam targets

MAS publishes information paper on cyber risks associated with generative AI

Regional News

Malaysia

A comprehensive guide to Malaysia’s new Cyber Security Act 2024 and regulations: Potential impact on businesses

Securities Commission Malaysia revises Guidelines on Technology Risk Management, expanding beyond cyber security to include technology risks

Malaysia Court of Appeal finds insolvency trumps arbitration where there is no bona fide dispute of debt

Myanmar

Myanmar revises commercial tax rate on sale of gold, gold bullion, and gold jewellery from 1 October 2024

Myanmar Department of Trade stipulates import of pharmaceuticals to be allowed only with proof of export earnings

Publications

IFC Review: Singapore as an Asian fund hub - The growing trend of “onshoring”

Practical Law: Anti-Corruption - Private Acquisitions and Joint Ventures

Practical Law: Note for the Board on Anti-Corruption

Practical Law: Documents to Establish a Corporate Joint Venture in Singapore

Lexology In-Depth: Asset Tracing and Recovery (12th Ed, 2024)

Crucible - An overview of selected Singapore legislation applicable to the gold market

SAL Practitioner: Ipso facto clauses in construction contracts - An analysis of section 440 of the Insolvency, Restructuring and Dissolution Act 2018

Deals

S$1.6 billion acquisition of portfolio of assets in Singapore by Warburg Pincus LLC and Lendlease Corporation

S$680 million term and revolving loan facilities to Holly Development Pte. Ltd.

Series A2 investment in Asa Technology Pte. Ltd. led by Journey Capital Partners

Subscription of seed preference shares in Tour Amigo Pte. Ltd. led by Wavemaker Pacific 5, L.P.

Series C equity fundraising in BillEase led by The Rise Fund

Awards & Rankings

Allen & Gledhill recognised as a top tier law firm by IFLR1000, with the most number of lawyers recognised across all practices

Allen & Gledhill continues to be recognised as a leading law firm in World Tax 2025