Financial Services Bulletin July 2020: Allen & Gledhill

28 July 2020

General

Covid-19: Digital signatures explained - Know before you sign

Covid-19 and the outlook for a new normal: An interview with Allen & Gledhill Senior Adviser Lam Chuan Leong, Competition and Public Policy

Effect of Covid-19 on the hospitality industry

Competition

CCCS issues guidance on Covid-19 business collaboration: Applicable to collaborations between 1 February 2020 and 31 July 2021

Corporate / M&A

New requirement to lodge Registrable Controllers' information with ACRA

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

Dispute Resolution

Singapore Court of Appeal applies prima facie standard of review where debt subject to arbitration

Employment

MOM issues updated advisory for employers and employees travelling to and from Covid-19 affected areas

MOM updates advisory on salary and leave arrangements

Financial Regulatory

MAS consults on environmental risk management guidelines for financial institutions

MAS issues guidance paper on strengthening capital markets intermediaries’ oversight over AML/CFT outsourcing arrangements

Public Policy

Singapore welcomes new members to Joint Ministerial Statement on Ensuring Supply Chain Connectivity amid Covid-19 situation

Real Estate

MinLaw issues note on rental relief framework

Tax

MOF seeks comments on proposed amendments to Income Tax Act

MOF seeks comments on proposed amendments to Goods and Services Tax Act

Regional News

Malaysia

Bank Negara Malaysia issues new Foreign Exchange Notices

Bank Negara Malaysia issues electronic know-your-customer policy document

Bank Negara Malaysia issues policy document on risk management in technology

Allied health practitioners to now hold practising certificates

Malaysia High Court allows unsecured creditors to intervene in and oppose a judicial management application

China

China reduces restrictions and prohibitions on foreign investment

Indonesia

Another e-commerce regulation in Indonesia: More protection and more control

Indonesian flight ticket cartel decision: A positive signal for businesses?

Publications

Practical Law Public Mergers and Acquisitions Global Guide: Public Mergers and Acquisitions in Singapore: Overview

Practical Law Public Mergers and Acquisitions Global Guide: Public Mergers and Acquisitions in Singapore - Market analysis overview

Practical Law Corporate Real Estate Global Guide: Commercial Real Estate in Singapore

Global Legal Insights to Merger Control 2020

The Securities Litigation Review 2020

Deals

S$300 million sustainability-linked term and revolving loan facilities to CapitaLand

Issue of S$300 million inaugural green bonds by National University of Singapore

Joint venture between Young Investment Group Industry Company Limited, China Gezhouba Group Cement Co., Ltd, and China Gezhouba Group Overseas Investment Co., Ltd to develop a limestone mine and a cement factory

B Capital Group co-leading the US$53 million Series B funding round of Payfazz

Issue of S$375 million subordinated perpetual securities by Singapore Technologies Telemedia Pte Ltd

Awards & Rankings

Allen & Gledhill maintains top tier rankings in IFLR1000 2021 for Banking and Finance

Allen & Gledhill Intellectual Property Practice maintains top tier rankings for patent work in Managing IP’s IP STARS 2020

Allen & Gledhill recognised in world’s top international arbitration practices worldwide

Allen & Gledhill Intellectual Property Practice ranked in IAM Patent 1000 2020