Legal Bulletin April 2019: Allen & Gledhill

29 April 2019

Competition

IMDA consultation on proposed converged competition code for telecommunication and media markets: Deadline for feedback extended from 17 April 2019 to 15 May 2019

Corporate

SICC declines to order minority discount for lack of control in valuation of minority’s shareholding following successful oppression claim

Dispute Resolution

Singapore High Court reiterates high threshold for striking out applications

MinLaw consults on proposed amendments to Reciprocal Enforcement of Foreign Judgments Act

MinLaw considers introducing new appellate court

Employment

Employment Act amended to expand and enhance employee protection

MOM, NTUC and SNEF release Tripartite Guidelines on Wrongful Dismissal

FinTech

MAS updates Guide to Digital Token Offerings

Intellectual Property

IPOS extends and enhances Mediation Promotion Scheme for three years

Public Policy

Q1 2019 Review: Five key public policy developments in Singapore

The ASEAN advantage

Restructuring & Insolvency

Singapore High Court discusses concept of “centre of main interests” of debtor company under UNCITRAL Model Law on Cross-Border Insolvency

Tax

Amendments to Customs Act to support policy changes and improve operational efficiency partially in force

White Collar & Investigation

Legislation introducing AML/CFT regime for precious stones and precious metals dealers in force from 10 April 2019

Legislative changes to strengthen AML/CFT framework in Singapore in force from 1 April 2019

General

Protection from Online Falsehoods and Manipulation Bill introduced in Singapore Parliament

Regional News

Malaysia

Securities Commission Malaysia seeks public feedback on proposed initial coin offering and property crowdfunding frameworks

New Labuan Business Activity Tax (Requirements for Labuan Business Activity) Regulations prescribe new rules for Labuan entities

Myanmar

Myanmar designates preferred applicants in step towards issuance of first life insurance licenses for foreign companies

Central Bank of Myanmar issues variety of Directives spanning fit and proper criteria and acquisition of substantial interests

Publications

International Comparative Legal Guide to Public Investment Funds 2019: Singapore chapter

Practical Law Private Antitrust Litigation Global Guide: Private Antitrust Litigation in Singapore - Overview

Deals

Merger notification to the Competition and Consumer Commission of Singapore in relation to the proposed joint venture by EQT Fund Management S.à r.l. and Widex Holding A/S

Phase 1 development of the New Yangon City project

Establishment of S$2 billion medium term bond programme and issue of S$750 million bonds by Singapore Airlines Limited

Issue of US$750 million notes by DBS Group Holdings Ltd

Issue of S$785 million green term loan facility to Frasers Property North Gem Trustee Pte. Ltd. (in its capacity as trustee-manager of North Gem Trust)

Issue of S$500 million fixed rate notes under the S$32 billion multicurrency medium term note programme by Housing and Development Board

S$400 million development of Surbana Jurong global headquarters, campus and Centre of Excellence for Innovation in Singapore

Awards & Rankings

Allen & Gledhill Intellectual Property Practice maintains top tier rankings for trade mark and patent work in Managing IP’s IP Stars 2019

Allen & Gledhill clinches major regional award at ALB SE Asia Law Awards 2019

Allen & Gledhill recognised in top 100 international arbitration practices worldwide

Allen & Gledhill Partner, Gina Lee-Wan is first female lawyer to win top award at Singapore International Maritime Awards 2019

Allen & Gledhill wins major award at GCR Awards 2019