29 October 2024
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Capital Markets
MAS consults on new regulations and amendments to regulations to support Phase 2 of implementation of Business Trusts (Amendment) Act 2022 and align governance-related provisions for registered business trusts with those for REITs
Corporate / M&A
Authentication of public documents to be available online from 2025
Cybersecurity & Data Protection
CSA launches guidelines and companion guide on securing AI systems
CSA publishes Safe App Standard Version 2.0 to strengthen overall security posture of mobile apps in Singapore and better safeguard app transactions and user data
Dispute Resolution
Singapore International Commercial Court (International Committee) Bill introduced to enhance Singapore’s offerings as international dispute resolution hub
Administration of Justice (Protection) (Amendment) Bill 2024 introduced to safeguard the administration of justice
Employment, Health & Safety
WSH Council issues draft “Guidelines on Providing Support for Employees with and at-risk of Mental Health Conditions” for comment
MOM and SNEF to work with NTUC, HR community, and employers to implement recommendations by Alliance for Action on Widening Access to Talent
ESG & Public Policy
IFRS Sustainability Disclosure Standards to be incorporated into SGX climate reporting rules from FY 2025
LTA and NEA to continue incentivising adoption of cleaner energy vehicles, with emphasis on electric vehicles
NCCS conducts public consultation on Singapore’s decarbonisation journey
Singapore and Ghana launch first call for project applications under Implementation Agreement on carbon credits cooperation
Singapore substantially concludes the ASEAN-China Free Trade Area 3.0 Upgrade negotiations
Financial Regulatory & Compliance
Financial Institutions (Miscellaneous Amendments) Act 2024 to harmonise and enhance MAS’ investigative and supervisory powers partially in force
Inter-Ministerial Committee publishes recommendations to strengthen Singapore’s anti-money laundering framework
MAS consults on proposed amendments to Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
MAS consults on new guidelines to MAS Notice 134 on Recovery and Resolution Planning
MAS issues revised guidelines on provision of consumer protection safeguards by digital payment token service providers
MAS consults on proposed regulatory approach, regulations, notices, and guidelines for digital token service providers issued under Financial Services and Markets Act 2022
MAS establishes international advisory panel for cyber and technology resilience
Tax
Multinational Enterprise (Minimum Tax) Bill passed to implement two new top-up taxes under BEPS 2.0
Bill to amend Income Tax Act 1947 to effect Budget 2024 changes passed
Regional News
China
China expands foreign investment access in manufacturing and medical sectors
Indonesia
Key highlights of Indonesia’s new Franchise Regulation
Malaysia
Malaysia Federal Court finds ruling on unpleaded issue fatal to adjudication decision
Myanmar
Myanmar Internal Revenue Department launches Tax Payment Portal
Myanmar workers overseas required to remit foreign earnings home
Vietnam
Vietnam provides detailed guidance on implementation of new Land Law
Publications
Lexology In-Depth: Dominance and Monopolies (12th Ed, 2024) - Singapore
The Consumer: Understanding trademarks, counterfeits and dupes
The International Comparative Legal Guide to Competition Litigation 2025 (17th Ed) - Singapore
Practical Law: Public Mergers and Acquisitions in Singapore
Corporate Acquisitions and Mergers (2024) - Singapore
Deals
S$5.9 billion term facilities to CLA Real Estate Holdings Pte. Ltd.
US$1.8 billion term and revolving loan facilities to Olam Treasury Pte. Ltd.
S$1.7 billion term and revolving loan facilities to Orchard Turn Retail Investment Pte. Ltd.
S$1.4 billion acquisition refinancing, land charges, stamp duty, goods and services charge, and construction facilities to GMC Property Pte. Ltd.
US$46.4 million subscription of shares in Himawari VNSC3 Pte Ltd by Toshin Development Co., Ltd.
Acquisition of a minority stake in Chemoil Storage Limited by Advario B.V.
Awards & Rankings
Allen & Gledhill and its network firms maintains top tier rankings in the Asian Legal Business Asia M&A Rankings 2024
Allen & Gledhill named FinTech Law Firm of the Year at the Asian Legal Business Pan Asian Regulatory Awards 2024
AGI Legal, associate firm of Allen & Gledhill, named Best New Law Firm in Asia Business Law Journal’s Indonesia Law Firm Awards 2024
