30 January 2024

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Letter from the editors                                                           

Capital Markets                                                                        

Why is Singapore an attractive hub for private funds?              

Competition & Foreign Investment Review                             

Significant Investments Review Bill passed to regulate significant investments in entities critical to Singapore’s national security interests including “calling-in” powers                          

Corporate / M&A                                                                      

CGAC revises Practice Guidance in Code of Corporate Governance in relation to shareholder rights and conduct of general meetings and engagement with shareholders            

Cybersecurity & Data Protection                                             

CSA conducts public consultation on draft Cybersecurity (Amendment) Bill

CSA issues Safe App Standard to provide guidance on enhancing security of mobile applications

MCI leads S$20 million research programme to tackle new forms of online harms

Dispute Resolution                                                                  

Criminal Procedure (Miscellaneous Amendments) Bill 2024 introduced to enhance transparency, fairness, and coherence in criminal court processes  

Employment, Health & Safety                                                                            

Child Development Co-Savings Act 2001 amended to implement enhancements to parental leave schemes

ESG & Public Policy                                                                

Singapore publishes eligibility list for international carbon credits under carbon tax regime

Singapore signs first implementation agreement with Papua New Guinea to collaborate on carbon credits under Article 6 of Paris Agreement

Centre for Climate Research Singapore projections show intensifying urban heat, more wet and dry extremes; NEA launches second grant call under Climate Impacts Science Research

Singapore and Japan sign memorandum of cooperation to establish Green and Digital Shipping Corridor

Singapore and MERCOSUR sign MERCOSUR-Singapore Free Trade Agreement     

Financial Regulatory                                                                

Bill introduced to enhance investigative, supervisory, and other powers of MAS across various Acts         

MAS raises stock cap and flow cap on personal e-wallets            

MAS consults on enhancements to Policy Owners’ Protection Scheme    

MAS issues notices to banks and merchant banks on management of outsourced relevant services         

MAS to require financial institutions to conduct and respond to reference checks 

MAS issues revised Guidelines on Risk Management Practices for Insurance Business   

MAS issues notice on recovery and resolution planning for insurers         


Co-convenors of the WTO Joint Statement Initiative on E-Commerce announce substantial conclusion of negotiations on global digital trade rules   


Extension of incentive schemes following amendments to Economic Expansion Incentives (Relief from Income Tax) Act 1967          

Technology, Media & Telecommunications                             

Singapore announces proposed Model AI Governance Framework for Generative AI

Telcos allow mobile subscribers to block calls from international numbers from 5 January 2024

Regional News


The new PRC Company Law: A first look at the major highlights


Refined details for electronic cassation and case review submissions: Advancing Indonesia’s Supreme Court digitalisation

Supreme Court of Indonesia provides guidance on Indonesian translations of agreements


Companies (Amendment) Bill 2023 passed in Malaysian Senate, amendments to improve corporate governance framework and corporate rescue mechanism


Myanmar reduces percentage of foreign currency export earnings to be converted into kyat

Central Bank of Myanmar reduces time frame for deposit of export earnings

Central Bank of Myanmar requires non-banking financial institutions seek approval to issue subordinated debt

Myanmar Ministry of Commerce sets registration fees for online retail businesses


Vietnam amends timeframes in continuing process to improve stock market transparency


Practical Law: Employee Privacy and Workplace Monitoring - Singapore

Practical Law: Transfer of Shares in a Private Company - Singapore

Lexology In-Depth: Energy Mergers & Acquisitions (5th Ed, 2024) - Singapore

Bits & Bytes: Domain name cybersecurity - Current trends and strategies for brand protection

Bits & Bytes: Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property


Establishment of S$2 billion multicurrency medium term note programme by Energy Market Authority of Singapore

S$1.8 billion green loan facilities to Roma Central Pte. Ltd. and Milano Central Pte. Ltd.

S$932 million conventional loan and Islamic Murabahah facilities to Chuan Park Development Pte. Ltd

S$580 million term loan facilities to Kingsford Marina Development Pte. Ltd.

S$535 million green loan facilities to DCW Pte. Ltd. and DCKC Pte. Ltd.

US$500 million conventional loan and Islamic financing facilities to Yinson Production Offshore Pte Ltd

US$3.75 million seed round investment in Meatiply led by Wavemaker Pacific 4, L.P.

US$1.1 million series pre-seed round investment in HR Tech Solutions Pte. Ltd. led by Wavemaker Pacific 4, L.P.


A&G Asia officially opens Allen & Gledhill LLP Shanghai Representative Office (Singapore) on 24 January 2024

Admission of new Partners and Counsel 2024

Awards & Rankings

Allen & Gledhill and its network firms continue to be recognised as leading law firms in the region by The Legal 500 Asia Pacific 2024

Allen & Gledhill and its network firms continue to be recognised as leading law firms in the region by Chambers and Partners in its 2024 rankings

Allen & Gledhill recognised as leading law firm in the 2023 Asia IP Patent Rankings

Kenny Yap recognised as top maritime lawyer in Lloyd’s List Top 10 Maritime Lawyers 2023