Sophie Lim

Partner
Sophie is Co-Head of the Firm’s ESG & Public Policy Practice.
Sophie’s range of competencies encompass advising on corporate regulatory compliance and corporate governance for SGX-ST listed companies and private companies, listing of Singapore companies on NYSE and NASDAQ, employee equity incentive schemes, corporate reorganisations and employment.
She has extensive experience advising NASDAQ and NYSE-listed Singapore companies on complex dual-jurisdiction compliance issues, from its IPO to post-listing acquisitions and regulatory compliance work.
She also advises public listed companies and private companies in the design of innovative equity and phantom incentive plans for founders, senior management and employees.
Sophie regularly assists foreign corporations in setting up a presence in Singapore, in undertaking corporate restructurings and also advises company directors on their duties, responsibilities and potential liabilities.
Sophie joined the Firm in 1997 shortly after she was called to the Singapore Bar and has been a Partner since 2004.
Work Highlights
- Advised Israel Corporation on its spin-off of Kenon Holdings and the subsequent unprecedented dual-listing of Kenon Holdings on NYSE and TASE with an appraised value of US$1.06 billion.
- Advised Avago Technologies on its US$37 billion acquisition of Broadcom Corporation, and the subsequent listing of the new combined holding company on NASDAQ.
- Advised Verigy in its proposed merger with LTX-Credence and subsequently, in its response to Advantest Corporation's unsolicited takeover proposal and eventual US$1.1 billion acquisition by Advantest.
Publications
- Online Criminal Harms Bill introduced to enable authorities to deal more effectively with criminal online activities
- Bill to amend Resource Sustainability Act 2019 passed to address packaging and food waste
- MTI announces UK’s accession process to CPTPP
- MOM announces details of Complementarity Assessment Framework (COMPASS) bonus criteria: 27 occupations on new Shortage Occupation List
- Singapore and UK sign MOU on Green Economy Framework
- MSE announces various sustainability initiatives relating to zero-waste, food and climate resilience
- FTAs in times of economic uncertainty: A quick guide on utilising Singapore’s FTAs for business opportunities
- Budget 2023: Key highlights
- Environmental Public Health (Amendment) Bill passed to implement Progressive Wage Model for waste management sector and revise cleaning business licensing framework
- Singapore and Malaysia conclude frameworks on cooperation in the digital economy and green economy
- Singapore and the EU sign Digital Partnership
- Bill to amend Resource Sustainability Act 2019 introduced to address packaging and food waste
- MOH announces Nutri-Grade requirements to extend to freshly prepared beverages from end-2023
- Tripartite Guidelines on Fair Employment Practices enhanced with additional guidelines on exercising sensitivity for a harmonious workplace
- Tripartite Committee on Workplace Fairness releases interim report on recommendations for workplace fairness legislation
- MOM announces formation of platform workers work injury compensation implementation network
- Singapore Government accepts recommendations by International Advisory Panel to strengthen workplace safety and health
- MOF and ACRA issue responses to key feedback on proposed amendments to Companies Act 1967
- Green Finance Industry Taskforce launches third consultation on green and transition taxonomy
- ACRA, MOF and MAS issue consultation paper on legislative amendments to enable conduct of general meetings by electronic means
- Legislation to tackle harmful content on online services accessible to users in Singapore in force
- ACRA issues Financial Reporting Surveillance Programme Report 2022 highlighting measures to strengthen financial reporting competency
- NCCS publishes public feedback received during consultation on Singapore’s raised climate ambition and low-carbon transition
- Korea-Singapore Digital Partnership Agreement enters into force
- Singapore Court of Appeal finds that company set up to promote sustainable development owed no fiduciary duty to communities adversely affected by environmental damage
- SGX RegCo amends Listing Rules to limit tenure of independent directors to nine years and require disclosure of exact remuneration of directors and CEOs
- Q4 2022 Review: Key ESG and public policy developments in Singapore
- COP27: Impact on Singapore and South-east Asia
- SGX RegCo, SID and CSIS publish service standards for companies’ virtual general meetings
- MTI launches one-stop platform Green Economy Regulatory Initiative (GERI)
- New joint projects agreed under Singapore-China (Shenzhen) Smart City Initiative
- Singapore Government accepts recommendations by Advisory Committee on Platform Workers to strengthen protections for platform workers
- MinLaw to revoke Covid-19 legislation providing for alternative arrangements for meetings on 1 July 2023; MAS and ACRA planning legislation to allow general meetings by electronic means
- Bill to amend Carbon Pricing Act 2018 passed to increase carbon tax rates, introduce industry transition framework and option to use eligible international credits
- SGX launches initiative to recognise sustainable fixed income
- Singapore joins Article 6 Implementation Partnership at COP27
- MTI announces substantial conclusion of negotiations seeking to upgrade Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area
- Singapore joins Forests and Climate Leaders’ Partnership as member country
- Singapore updates long-term low-emissions development strategy
- Bill passed to tackle harmful content on online services accessible to users in Singapore
- Singapore and China agree 19 MOUs and seek to strengthen cooperation in green finance and capital markets
- Q3 2022 Review: Key ESG and public policy developments in Singapore
- ACRA issues Financial Reporting Practice Guidance No. 1 of 2022 on areas of review focus for FY2022 financial statements
- SGX RegCo consults on proposed hard limit of nine years on tenure of independent directors and disclosure of exact remuneration of directors and CEOs of listed companies
- Code of practice on WSH duties of chief executives and board of directors gazetted as Approved Code of Practice
- Singapore and Australia sign green economy agreement to advance trade and environmental sustainability
- New Technical Reference 109 launched to guide companies on sustainable packaging-related practices
- ABS issues guidelines for sustainable private banking and wealth management practices and PBIG sets common sustainable finance training benchmark for private banking professionals
- MOM issues updated advisory on Covid-19 vaccination at the workplace following lifting of vaccination differentiated safe management measures
- MAS launches ESG Impact Hub to encourage growth of ESG ecosystem
- SID Directors Conference 2022: Navigating greenwashing in ESG
- Bill introduced to tackle harmful content on online services accessible to users in Singapore
- Bill introduced to amend Carbon Pricing Act 2018: Increase in carbon tax, industry transition framework and option to use eligible international carbon credits
- Commencement of new requirements under Corporate Registers (Miscellaneous Amendments) Act 2022 on 4 October 2022
- SGX RegCo to consult on hard coding nine-year cap on ID tenure, requiring disclosure of actual remuneration of directors and CEOs
- 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
- 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
- Targeted enhancements to work pass framework announced
- Tripartite partners establish workgroup on representation for platform workers
- Code of practice on chief executives’ and board of directors’ WSH duties launched, to be gazetted by October 2022
- Work pass framework enhancements: Ministerial statement
- Q2 2022 Review: Key ESG and public policy developments in Singapore
- Singapore as global hub for talent: MOM announces new Overseas Networks & Expertise Pass, new benchmark for top 10% EP holders, shorter FCF job advertising duration, shorter EP applications processing time, five-year EP option
- Updates to Employment Pass qualifying salary from 1 September 2022 for new applications
- Measures for Nutri-Grade beverages to take effect from 30 December 2022
- MAS and Google Cloud launch Point Carbon Zero Programme to catalyse climate FinTech solutions
- MAS releases Sustainability Report 2021/2022 highlighting importance of transition finance
- MAS issues circular on disclosure and reporting guidelines for retail ESG funds effective from 2023
- Singapore and Malaysia to deepen cooperation in digital economy and green economy
- SGX RegCo CEO discusses greenwashing, possible upcoming regulations on making information available, comparable, and trusted
- MTI seeks feedback on proposed legislation to mandate compliance with Code of Conduct for Leasing of Retail Premises in Singapore
- MSE consults on proposed increase in carbon tax and option to use eligible international carbon credits in draft Carbon Pricing (Amendment) Bill
- MCI seeks comments on proposed Code of Practice for Online Safety and Content Code for Social Media Services
- Singapore joins First Movers Coalition to decarbonise emissions-intensive sectors
- Singapore ratifies Kigali Amendment to Montreal Protocol
- ABS launches industry standard template for banks to engage corporate clients on environmental risk issues
- MAS issues information papers on environmental risk management for banks, asset managers and insurers
- Taskforce on mental health and well-being seeks comments on recommendations to improve workplace well-being measures and employment support
- Child Development Co-Savings Act 2021 amended to implement family-friendly policies at the workplace
- SGX RegCo to require live engagement and voting at AGMs for all issuers
- ACRA and SGX RegCo establish committee to advise on sustainability reporting roadmap for Singapore-incorporated companies
- Singapore’s Green Plan: Overview of support measures and grants for sustainable developments
- Singapore Green Bond Framework introduced for issuance of sovereign green bonds
- Companies Act 1967 amended to clarify timelines for local and foreign companies to update registers
- MOM updates advisories on Covid-19 arrangements at the workplace
- Green Finance Industry Taskforce consults on second version of green and transition taxonomy
- Q1 2022 Review: Key ESG and public policy developments in Singapore
- MAS revises Practice Guidance in Code of Corporate Governance to provide updated guidance on board diversity policy
- Energy 2050 Committee releases report affirming net-zero feasibility for Singapore power sector by 2050
- Covid-19: Singapore further eases border restrictions - Move to Vaccinated Travel Framework and removal of pre-departure requirements
- SGX RegCo provides guidance on its expectation of issuers regarding sanctions-related risks, subject or activity
- SGX RegCo sets out expectations regarding business valuations for significant transactions
- MOM updates advisory on requirements for workplace safe management measures
- MOM updates advisory on work and leave arrangements for employees who test positive for Covid-19 but are mildly symptomatic or physically well
- Singapore implements export control measures and financial measures in relation to Russia
- MOM announces upcoming changes to Employment Pass eligibility
- Budget 2022: Key highlights
- Energy (Resilience Measures and Miscellaneous Amendments) Act 2021 partially in force from 29 January 2022
- Singapore outlines sanctions and restrictions against Russia in response to invasion of Ukraine
- Singapore signs free trade agreement with Pacific Alliance
- NEA public consultation on disposable carrier bag charge at supermarkets
- ACRA, MAS and SGX RegCo update guidance on the conduct of general meetings amid evolving Covid-19 situation
- Tripartite partners issue advisory on business continuity plan to provide guidance on potentially high levels of workforce absences
- Covid-19: Singapore eases border restrictions for long-term pass holders and visitors
- ESG & Public Policy: 2021 in Review
- Changes to CPF contribution rates from 1 January 2022 for employees aged above 55 to 70
- Covid-19 vaccination to be a condition for long-term passes, work passes and permanent residence from 1 February 2022
- Updated Covid-19 advisories: Vaccination at the workplace and work and leave arrangements for Covid-19 positive employees who are mildly symptomatic or physically well
- MOM updates advisory on workplace safe management measures requirements: Concession for unvaccinated employees to return to workplace via negative PET removed, work-related events with 50-1000 participants permitted
- Workplace Safety and Health (Covid-19 Safe Workplace) Regulations 2021 in force from 1 January 2022
- Corporate Registers (Miscellaneous Amendments) Bill enhancing Singapore’s regime on transparency and beneficial ownership of companies and LLPs passed
- Regional Comprehensive Economic Partnership Agreement in force from 1 January 2022: Businesses benefit from measures facilitating trade and investment
- SGX mandates climate and board diversity disclosures
- ACRA issues Financial Reporting Practice Guidance No. 1 of 2021 on areas of review for FY 2021 financial statements
- ACRA consults on proposed legislative amendments relating to data, digitalisation, and corporate transparency
- COP26: Commitments from Singapore and the region
- SGX to prescribe additional timelines for Q&A before general meetings and requirement for virtual information sessions for some corporate actions
- MOM issues revised advisory on work and leave arrangements for employees who test positive on Covid-19 Antigen Rapid Test (ART) but are physically well
- MOM updates advisory on requirements for safe management measures at workplace, up to 50% of employees who can work from home allowed to return to workplace from 1 January 2022
- ASEAN regional connectivity to be enhanced by Multimodal Transport Act 2021 in effect 28 November 2021
- Singapore and Australia to focus on low emissions cooperation in 2022
- Tripartite partners update Advisory on requirements for safe management measures at the workplace
- Singapore commits to phasing out unabated coal power by 2050
- Energy (Resilience Measures and Miscellaneous Amendments) Bill passed, MTI and EMA issue response to feedback on draft Bill
- Bill to enhance Singapore’s regime on transparency and beneficial ownership of companies and LLPs tabled in Parliament
- EMA launches new Singapore Standard for Renewable Energy Certificates, explores geothermal energy
- The journey to low carbon transition: An introduction to carbon pricing
- Tripartite partners update Advisory on Covid-19 vaccination at the workplace
- Enterprise Singapore launches S$180 million Enterprise Sustainability Programme to help at least 6,000 enterprises build sustainability capabilities
- MOM issues advisory on work and leave arrangements for employees who test positive on Covid-19 Antigen Rapid Test (ART) but are physically well
- Vaccination as entry requirement for work pass holders from 1 November 2021
- MOM issues advisory to employers on Rostered Routine Testing and charging policy for workers in construction, marine, and process sectors, and in dormitories
- Singapore Institute of Directors Conference 2021: The Dawn and Permanence of ESG - Why It Matters
- Apostille Convention enters into force for Singapore
- Transition to low-carbon electricity generation sources: Consultation on Energy (Resilience Measures and Miscellaneous Amendments) Bill
- SGX consults on mandatory climate and board diversity disclosures
- Key insights on initiatives and developments following National Day Rally Speech 2021
- Tripartite partners urge employers to adopt “Vaccinate or Regular Test” regime as company policy
- Extended Producer Responsibility system for e-waste management system under Resource Sustainability Act 2019 implemented
- MOF, ACRA consult on proposed enhancements to Singapore’s regime on transparency and beneficial ownership of companies and LLPs
- MOM announces new measures to facilitate retention and hiring of work permit holders in construction, marine shipyard and process sectors
- Covid-19: MOM updates advisory on requirements for safe management measures at the workplace to allow more employees to return
- Apostille Act 2020 abolishes legalisation requirements for foreign public documents from 16 September 2021
- MSE launches GreenGov.SG as key enabler of national sustainability agenda
- Singapore to develop and deploy low-carbon technological solutions
- MOM updates advisory on safe management measures at the workplace with effect from 20 July 2021
- SGX RegCo expands enforcement powers and mandates issuers to have whistleblowing policy
- MOM, NTUC, SNEF issue advisory on Covid-19 vaccination in employment settings
- Joint venture to establish Climate Impact X, a global exchange and marketplace for carbon credits
- MOM and ESG update requirements for safe management measures at the workplace with effect from 10 June 2021
- MAS releases inaugural Sustainability Report to chart strategy on climate resilience and environmental sustainability
- New Tripartite Standard on Work-Life Harmony launched to boost workplace morale and performance
- Covid-19: MOM updates advisory on requirements for safe management measures at the workplace with effect from 16 May 2021
- Emerging Stronger Taskforce publishes recommendations for a virtually unlimited and sustainable Singapore in a post-Covid-19 economic environment
- Green Finance Industry Taskforce launches guide for climate-related disclosures and framework for green trade finance
- Q1 2021 Review: Five key ESG and public policy developments in Singapore
- Covid-19: MinLaw further extends duration of legislation for alternative meeting arrangements
- Covid-19: MOM updates advisory on requirements for safe management measures at the workplace to allow greater flexibility for businesses
- MOM to require Dependant’s Pass holders who wish to work to apply for work pass from 1 May 2021
- SGX RegCo allows Mainboard issuers up to 31 December 2021 to seek or renew enhanced share issue limit amid Covid-19
- Singapore accedes to Apostille Convention
- SGX RegCo enhances rules on auditors, valuers and valuation reports
- MOM requires work pass holders to update MOM on new residential address or mobile number within five days of change
- Covid-19: ACRA issues Financial Reporting Practice Guidance No. 2 of 2020 to guide directors in review of FY2020 financial statements
- MOM, NTUC and SNEF launch Tripartite Advisory on Mental Well-being at Workplaces
- EDB to launch new programme to attract entrepreneurs and leaders to develop Singapore’s tech ecosystem
- Apostille Bill passed to give effect to Hague Convention obligations abolishing legalisation requirements for foreign public documents
- Apostille Bill introduced to facilitate cross-border use of public documents
- Covid-19: Legislation for alternative meeting arrangements refined and extended to 30 June 2021
- Corporate Governance Advisory Committee issues statement on directors’ disclosures in rights issues
- Changes to the Work Injury Compensation Act 2019 in force from 1 September 2020
- MOM updates advisory on salary and leave arrangements
- Covid-19: MinLaw to extend duration of legislation for alternative meeting arrangements to 30 June 2021
- MOM announces tightening of work pass requirements: Increase in EP and S Pass minimum qualifying salary, enhancements to Fair Consideration Framework
- MOM defers requirements for insurers under Work Injury Compensation Act 2019 till 1 January 2021
- SGX RegCo sets out expectations on financial reporting during Covid-19 period
- SGX RegCo seeks swifter outcomes in enforcement actions, right of delegation, exclusion of liability and indemnity and issuers to have whistleblowing policy
- ACRA seeks feedback on wide-ranging proposed amendments to Companies Act
- SGX RegCo sets out expectations of sustainability reporting during Covid-19 period
- ACRA, MAS and SGX RegCo update guidance on conduct of general meetings during Covid-19 period to clarify that issuers permitted to operate need no longer submit notification to MTI for on-site operations
- Covid-19: ACRA issues guidance for directors reviewing upcoming financial statements
- SGX RegCo removes minimum trading price rule while enhancing other anti-manipulation tools with effect from 1 June 2020
- SGX RegCo extends timeline for release of unaudited financial results and sets out expectations on issuers’ disclosure obligations, Amendment Order revises period for alternative meetings arrangements
- Holding meetings amid Covid-19: Order for alternative arrangements issued, guidance and checklist provided by ACRA, MAS and SGX RegCo
- SGX RegCo enhances share issue limit for Mainboard issuers and suspends entry into financial watch-list amid challenging Covid-19 business climate
- Holding meetings amid Covid-19 outbreak: New Act provides legal certainty; ACRA, SGX RegCo extend AGM and annual return deadlines
- Making statutory declarations and affidavits amid the Covid-19 situation
- SGX RegCo gives additional two months to issuers irrespective of place of business or operations to hold AGMs due to concerns about large-group meetings amid Covid-19
- SGX RegCo gives additional two months to issuers irrespective of place of business or operations to hold AGMs due to concerns about large-group meetings amid Covid-19
- ACRA aligns filed data with data filed under National Registration Act
- SGX consults on enhancements to regulatory regime for auditors and property valuation
- SGX implements new approach to quarterly reporting and enhances continuous disclosure requirements on 7 February 2020
- ACRA enhances annual return forms for easier filing
- SGX RegCo consults on proposed removal of minimum trading price framework and changes to financial watch-list administration
- MOM and TADM release inaugural Employment Standards Report
- Work Injury Compensation Bill passed in Parliament to provide a more expeditious process for employees to receive compensation for work injuries
- Work Injury Compensation Bill introduced to provide a more expeditious process for employees to receive compensation for work injuries
- MOM announces acceptance of recommendations to refresh retirement and re-employment framework
- ACRA issues Registrar’s Interpretation No. 1 of 2019 on alteration of constitution with respect to objects of company and lodging requirements under Companies Act
- ACRA revises Guidance relating to requirements on register of registrable controllers and register of nominee directors
- MOM, NTUC and SNEF release Tripartite Guidelines on Wrongful Dismissal
- Employment Act amended to expand and enhance employee protection
- MAS establishes industry-led Corporate Governance Advisory Committee to advocate good corporate governance practices
- SGX shares proposals on appointment of second auditor or Singapore-based auditor, and raising business and real estate valuations standard
- MOM consults on proposed changes to Work Injury Compensation Act
- SGX clarifies transitional arrangements for Listing Rules mandating baseline corporate governance practices
- MAS issues Code of Corporate Governance 2018