Legal Bulletin November 2024: Allen & Gledhill

28 November 2024

Competition & Foreign Investment Review

Block exemption for certain liner shipping agreements renewed from 1 January 2025 to 31 December 2029

Corporate / M&A

BizFile+ system migration from 4 to 9 December 2024 for ACRA’s new Bizfile portal, launching on 9 December 2024 to replace BizFile+

Corporate service providers to carry out fit and proper assessment on nominee directors and to perform customer due diligence measures under Corporate Service Providers Act 2024

Dispute Resolution

Bill to clarify that egregious abuse of court process will amount to contempt of court passed

Bill to establish SICC International Committee passed

Employment, Health & Safety

Workplace Fairness Bill introduced in Parliament to protect employees from discrimination

Construction sector urged to initiate Safety Time-Out from 8 to 22 November 2024

Bill to amend Child Development Co-Savings Act 2001 to provide for enhanced paternity leave and new shared parental leave passed

MOM commences certain processes following partial commencement of Platform Workers Act 2024

Energy, Infrastructure & Projects

Partial commencement of Energy Transition Measures and Other Amendments Act 2024 to establish Future Energy Fund

EMA to launch roadmap on future grid capabilities, publishes consultation paper on parameters for virtual power plants

New playbook to guide Singapore businesses towards decarbonisation goals

ESG & Public Policy

New Carbon Markets Academy of Singapore launched

Enterprise Singapore launches new grant and programme to level up sustainability reporting capabilities for Singapore companies

Enterprise Singapore launches new roadmap to guide F&B industry on sustainability journey

Singapore and China sign 25 agreements to further boost bilateral cooperation

What greenwashing risks mean for legal and risk management professionals

FinTech

Global Finance &Technology Network established to further strengthen Singapore as global FinTech hub

MAS announces plans to support commercialisation of asset tokenisation

Private Wealth

MAS issues response to feedback received on proposed framework for single family offices

Restructuring & Insolvency

Bill introduced to revamp and make permanent Simplified Insolvency Programme to support financially distressed companies

Technology, Media & Telecommunications

Shared Responsibility Framework for FIs, Telcos, and consumers for phishing scams and revisions to E-Payments User Protection Guidelines to come into effect on 16 December 2024

New Singapore-UK Agreement to strengthen global AI safety and governance

White Collar & Investigations

Singapore publishes National Anti-Money Laundering Strategy

General

Electronic Gazette and Legislation Bill tabled for first reading; Gazette published on prescribed website to be authoritative version

Regional News

China

China issues new Regulation on Network Data Security: Key takeaways for businesses

China revises rules to ease foreign strategic investments in listed companies

Indonesia

An in-depth review of Indonesia’s data protection regime

Indonesia Financial Services Authority issues draft Regulation on Trading in Digital Financial Assets, Including Crypto Assets

Malaysia

Malaysian Communications and Multimedia Commission seeks public feedback on draft Code of Conduct for Internet Messaging Service Providers and Social Media Service Providers

Malaysia issues National Guidelines on Artificial Intelligence Governance and Ethics: Key principles

Myanmar

Myanmar electronic taxpayer registration system now connected to Tradenet 2.0

Patents accepted by Myanmar Intellectual Property Department from 31 October 2024

Vietnam

Vietnam issues new decree on self-produced and self-consumed rooftop solar power

Foreign investment in Vietnam’s education sector: Key insights from Decree 124/2024/ND-CP

Publications

Practical Law: Contract Execution and Contracts quick compare charts

Practical Law: Enforcement of Judgments

Practical Law: Intellectual Property quick compare charts

ICLG: Cybersecurity 2025 (8th Ed)

CDR Essential Intelligence - The Belt and Road Initiative 2025

Lexology In-Depth: Initial Public Offerings (8th Ed, 2024)

Deals

Issue of S$900 million fixed rate green notes by Housing and Development Board

Issue of S$500 million fixed rate notes by Housing and Development Board

Investment in Aonic Holdings Pte. Ltd. led by Hibiscus Fund LP.

News

International capital markets specialist Maree Quinn joins Allen & Gledhill

Awards & Rankings

Allen & Gledhill named Singapore Firm of the Year by Lexology Index for the 14th time

Allen & Gledhill recognised as one of the top law firms in Singapore by The Straits Times

Allen & Gledhill wins Singapore Trademark Firm of the Year at Global IP Awards 2024