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29 April 2020

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Letter from the editors

General

Covid-19 circuit breaker: Impact on insurance claims

MinLaw releases FAQs and guides on temporary relief for inability to perform contracts under Covid-19 (Temporary Measures) Act 2020

Covid-19 (Temporary Measures) Act 2020: Provisions on temporary relief from legal action for inability to perform contracts in force from 20 April 2020

Covid-19 (Temporary Measures) Act 2020: Provisions on temporary relief for individuals and businesses in financial distress in force from 20 April 2020

Covid-19 circuit breaker: Safe distancing, safe technology?

Expedited passage of Covid-19 (Temporary Measures) Act 2020: Overview of measures

Covid-19 and the use of electronic signatures in Singapore

Making statutory declarations and affidavits amid the Covid-19 situation

Banking

MAS clarifies application of LTV and TDSR rules following financial industry measures to support individuals and SMEs affected by Covid-19 pandemic

MAS and financial industry announce measures to support individuals and SMEs affected by Covid-19 pandemic

Capital Markets

MOF, IRAS and MAS announce new measures to help S-REITs navigate operating challenges posed by Covid-19; Code on Collective Investment Schemes revised

Competition

Facing Covid-19: Coping with the coronavirus outbreak without breaching antitrust laws (Part 2)

Facing Covid-19: Coping with the coronavirus outbreak without breaching antitrust laws (Part 1)

Construction & Engineering

Dealing with Covid-19 in the construction industry: Preliminary views on Covid-19 (Temporary Measures) Bill

Corporate / M&A

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

Covid-19: Special considerations for M&A

Dispute Resolution

Covid-19: Court and arbitration proceedings in Singapore

Employment

MOM updates advisory on salary and leave arrangements during circuit breaker period

Covid-19 Employment Q&A

Facing Covid-19: Employers’ obligations

Government accepts National Wages Council Guidelines for 2020/2021 to mitigate impact of Covid-19

MOM announces further measures to help companies cope with Covid-19 situation

Financial Regulatory

Covid-19 financial support measures for financial institutions, SMEs and individuals

MAS adjusts selected regulatory requirements and supervisory programmes to allow FIs to focus on Covid-19 related issues

MAS issues advisory to financial institutions on adopting safe distancing measures amid Covid-19 situation

MAS and ESMA sign MOU on Singapore’s financial benchmarks

Public Policy

Q1 2020 Review: Five key public policy developments in Singapore

Singapore and New Zealand launch Declaration on Trade in Essential Goods for Combating the Covid-19 Pandemic

The post Covid-19 world: Anticipating potential changes for businesses and public policies

Singapore and eight other countries affirm commitment to ensuring supply chain connectivity amid Covid-19 crisis

Real Estate

Provisions of Covid-19 (Temporary Measures) Act 2020 imposing duty on landlords to transfer benefit of 2020 property tax rebates to tenants in force from 22 April 2020

Covid-19: Impact on commercial leases in Singapore

Restructuring & Insolvency

Covid-19 and financial distress: A roadmap for company directors

MinLaw consults on proposed prescribed eligible financial contracts to be exempted from restriction on operation of ipso facto clauses under the Insolvency, Restructuring and Dissolution Act

Tax & Support Measures

Covid-19 relief: Additional support measures during extended circuit breaker period in Singapore

Covid-19 relief: Additional support measures in Singapore

Covid-19 relief: Tax and support measures in Singapore

Regional News

Malaysia

Covid-19: Malaysian perspective

Securities Commission Malaysia liberalises regulation on private retirement schemes to enhance competitiveness of the industry

Malaysian Food Donors Protection Act 2020 affords food donors protection from civil liability

Malaysian Court of Appeal holds management corporation of residential strata building can prohibit use of residential units in buildings for business or short-term rentals through own house rules or bylaws

Myanmar

Covid-19: Myanmar perspective

Myanmar Securities and Exchange Commission allows foreign participation in daily share trading of listed companies on the Yangon Stock Exchange

New Myanmar Insolvency Law allows companies to opt for corporate rescue and rehabilitation alternative to liquidation

Registration of mortgages in favour of foreign financial institutions in Myanmar

China

China proposes increased penalties for gun-jumping in Anti-Monopoly Law

Indonesia

Indonesian Competition Commission introduces new regulation enhancing its use of electronic media amid the Covid-19 pandemic

Rundown on the rapidly changing legal landscape in Indonesia during the Covid-19 pandemic

Publications

The International Comparative Legal Guide to Enforcement of Foreign Judgments 2020

The International Comparative Legal Guide to Public Investment Funds 2020

Deals

S$8.8 billion rights issue of new ordinary shares and mandatory convertible bonds by Singapore Airlines Limited and its S$4 billion loan facility

Establishment of S$5 billion multicurrency medium term note programme by ST Engineering RHQ Ltd. and ST Engineering Treasury Pte. Ltd.

Establishment of S$3 billion multicurrency debt issuance programme by Sembcorp Industries Ltd and Sembcorp Financial Services Pte. Ltd.

Establishment of S$2 billion multicurrency debt issuance programme by OUE C-REIT

Allen & Gledhill successfully represented Democratic Socialist Republic of Sri Lanka in an investment dispute case with a hotel investor

S$434 million voluntary conditional cash offer for BreadTalk Group Limited by BTG Holding Company Pte. Ltd. and related S$255 million loan facilities

S$102.91 million acquisition of 25% stake in Galaxis, Singapore by Ascendas Real Estate Investment Trust

S$65 million sale of shares in Speedy Industrial Supplies Pte Ltd to BizLink Holding Inc.

Series B2 investment in Doctor Anywhere Pte. Ltd. by IHH Healthcare Berhad

Awards & Rankings

Seven Allen & Gledhill lawyers inducted into The Legal 500 Hall of Fame

Allen & Gledhill named Singapore Corporate & Finance Domestic Law Advisers at Chambers Asia-Pacific Awards 2020