Legal Bulletin August 2022

30 August 2022

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Covid-19

Application period for Simplified Insolvency Programme extended to 28 January 2024

Cybersecurity & Data Protection

IMDA proposes full SMS Sender ID registration and anti-scam filtering solutions to enhance protection against scams

PDPC issues guide on personal data protection considerations for blockchain design and infographic on good practices to secure personal data in the cloud platform

Employment, Health & Safety

Singapore Government accepts recommendations on Progressive Wage Model for retail workers

ESG & Public Policy

MAS releases Sustainability Report 2021/2022 highlighting importance of transition finance

MAS and Google Cloud launch Point Carbon Zero Programme to catalyse climate FinTech solutions

Singapore and Malaysia to deepen cooperation in digital economy and green economy

Measures for Nutri-Grade beverages to take effect from 30 December 2022

Projects & Infrastructure

Singapore launches Infrastructure Asia Project Portal to support infrastructure development

Real Estate

MTI proposes legislation to mandate compliance with Code of Conduct for Leasing of Retail Premises in Singapore

Regional News

Malaysia

Bank Negara Malaysia revises Foreign Exchange Policy Notices, catering to evolving needs of current economy

Securities Commission Malaysia releases framework on Sustainable and Responsible Investment Linked (SRI-Linked) Sukuk

Tax exemption orders in respect of foreign sourced income in force

Federal Court in Malaysia rules on issuing bank’s undertaking to reimburse negotiating bank

High Court in Malaysia affirms binding effect of arbitration award notwithstanding pending proceedings to challenge award in seat of arbitration

Myanmar

Foreign entities allowed to wholly own non-bank financial institutions in Myanmar

China

China issues measures setting out requirements and process for security assessment of cross-border data transfer

Publications

Insolvency: Now & Beyond - ADR techniques in resolution process

The International Arbitration Review (13th Ed, 2022)

The Restructuring Review (15th Ed, 2022)

Practical Law: Contract Formation and Enforcement in Singapore

Practical Law: Cartel Leniency, Merger Control and Restraints of Trade and Dominance in Singapore

Singapore Academy of Law Annual Review 2021 - Equity and Trusts

Deals

Establishment of the Government of Singapore’s medium term note programme for issuance of Singapore Government Securities (Infrastructure) and inaugural issuance of S$2.4 billion fixed rate bonds due 2072

Acquisition of Keppel Smit Towage and Maju Maritime by Rimorchiatori Mediterranei SpA

Acquisition of Oakwood Worldwide

Sale of Income@Raffles by NTUC Income Insurance Co-Operative Ltd

Investment by B Capital Group in US$60 million Series C funding round of Fazz Financial Group

Awards & Rankings

Allen & Gledhill maintains its top tier ranking for Project Development in the latest edition of IFLR1000

Allen & Gledhill Intellectual Property Practice ranked as leading firm for Copyright & related rights, as well as Intellectual Property transactions rankings in Managing IP’s IP STARS 2022

Allen & Gledhill Partner Daren Shiau conferred the Public Service Star (Bintang Bakti Masyarakat) at Singapore National Day Awards 2022