28 February 2022
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Covid-19
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
Capital Markets
MAS to introduce ESG-specific requirements, release EnRM Information Paper, mandate climate-related financial disclosures for asset managers
Competition & Antitrust
Antitrust developments in South-east Asia: October to December 2021
Corporate / M&A
Higher penalties for late filing of annual lodgments in force from 14 January 2022
Dispute Resolution
Bill setting out framework for conditional fee agreements in Singapore passed
Singapore Court of Appeal clarifies rule against the use of non-contractual documents for purposes of incorporating terms into a contract
General Division of Singapore High Court finds grounds for setting aside of arbitral award not established
ESG & Public Policy
Singapore signs free trade agreement with Pacific Alliance
Financial Regulatory
Financial Services and Markets Bill 2022 introduced in Parliament, explanatory brief and response to feedback issued
MAS issues circular on non-face-to-face customer due diligence measures for financial institutions
FinTech
MAS-led industry consortium publishes assessment methodologies for responsible use of AI by financial institutions
Regional News
Malaysia
Bursa Malaysia amends listing requirements to enhance board effectiveness and diversity
Amendments to various legislation in Malaysia brought about by partial commencement of Finance Act 2021
Amendments to Malaysia’s two-tiered minimum wage based on place of employment in effect 1 February 2022
Malaysia Federal Court rules regulator has discretion to maintain listing of wound-up company
Malaysia Federal Court rules electricity supply can only be disconnected in the presence of a continuing offence
Myanmar
Myanmar State Administration Council amends rate of commercial tax and income tax in certain circumstances
Indonesia
Indonesia imposes domestic market obligation for sales of crude palm oil
China
China clarifies scope of “critical data” in cross-border data protection regime
Publications
The Energy Mergers & Acquisitions Review (3rd Ed, 2021)
The Real Estate M&A and Private Equity Review (6th Ed, 2021)
The Cartels and Leniency Review (10th Ed, 2022)
The International Comparative Legal Guide to Public Procurement 2022
Deals
US$17.4 billion acquisition of PPD, Inc. by Thermo Fisher Scientific Inc.
Issue of S$950 million fixed rate notes by Housing and Development Board
Issue of US$600 million notes by Singapore Airlines Limited under its S$10 billion medium term note programme
US$150 million fund raising of ONE Championship
S$170 million initial public offering and listing of Pegasus Asia, a special purpose acquisition company, on Singapore Exchange
S$150 million initial public offering and listing of Novo Tellus Alpha Acquisition, a special purpose acquisition company, on the Singapore Exchange
US$55 million series C investment in Pluang Technologies Pte. Ltd. led by Accel Management Co. Inc
Awards & Rankings
Allen & Gledhill recognised in world’s top data practices worldwide
