29 April 2025

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Capital Markets

MAS seeks feedback on proposals to provide retail access to private market investment funds

Competition & Foreign Investment Review

Transport Sector (Critical Firms) Act 2024 in force from 1 April 2025 providing for new designated entities regime targeting key entities in air, sea, and land transport sectors in Singapore

Antitrust developments and enforcement activity in South-east Asia: October to December 2024

Corporate / M&A

ACRA publishes Financial Reporting Surveillance Programme Report 2024 and Directors’ Guide providing comprehensive overview of directors’ responsibilities and guidance for navigating financial reporting requirements

Dispute Resolution

MinLaw seeks feedback on international arbitration regime and International Arbitration Act 1994

Energy, Infrastructure & Projects

Singapore and Vietnam sign letter of intent to enhance cooperation in cross-border electricity trade for the ASEAN Power Grid

ESG & Public Policy

Singapore signs implementation agreements on carbon credits collaboration with Peru and Chile

Singapore and Rotterdam boost efforts on Green and Digital Shipping Corridor

Financial Regulatory & Compliance

MAS consults on proposed amendments to AML/CFT notices for financial institutions and variable capital companies

MAS publishes response to feedback from consultation on proposed amendments to capital framework for approved exchanges and approved clearing houses

MAS issues revised notices and guidelines to enhance pre- and post-transaction safeguards for retail clients

MAS publishes consultation paper on prudential treatment of cryptoasset exposures and requirements for Additional Tier 1 and Tier 2 capital instruments for banks

MAS publishes consultation paper on proposed equity counter-cyclical adjustment and inclusion of additional criteria for Additional Tier 1 and Tier 2 capital instruments for insurers

MAS issues best practice paper on countering proliferation financing

Real Estate

Upcoming changes to bolster detection and deterrence of money laundering, terrorism financing, and proliferation financing in real estate sector

Regional News

China

China further regulates AI-generated content

Indonesia

Key amendments by Indonesia Financial Services Authority to develop and strengthen finance and venture capital companies

Indonesia Financial Services Authority strengthens regulation of issuers and public companies

Malaysia

Malaysia High Court finds novation agreement subject to ad valorem stamp duty

Malaysia’s Personal Data Protection Department launches public consultations on guidelines for data protection impact assessments, data protection by design, and automated decision making and profiling

Bank Negara Malaysia to accept applications for digital insurers and takaful operators’ licence until 31 December 2026 

Vietnam

Vietnam and Singapore upgrade bilateral ties to a Comprehensive Strategic Partnership

Key changes to Vietnam’s power regulatory framework

Vietnam updates National Power Development Plan VIII

Publications

Chambers Global Practice Guide: Fintech 2025

ICLG: Consumer Protection 2025 (6th Ed) - Singapore

Legal Era Magazine: The new SIAC Rules 2025 - Tackling the real issues

Lexology In-Depth: Public Competition Enforcement (17th Ed, 2025)

Practical Law: Lending and Taking Security in Singapore

Deals

Establishment of US$3 billion Euro Medium Term Note Programme and issuance of S$500 million senior notes by Equinix Asia Financing Corporation Pte. Ltd. and guaranteed by Equinix, Inc.

Issue of US$2 billion notes by DBS Group Holdings Ltd

S$1.57 billion term, revolving and bank guarantee facilities to GWC Commercial Pte. Ltd. and GWC Serviced Apartments Pte. Ltd.

Issue of US$527 million infrastructure asset-backed securities by Bayfront Infrastructure Capital VI Pte. Ltd.

US$12.7 million financing of AMP co-led by Openspace Ventures

Acquisition of 43.4% shareholding by S&P Global Asian Holdings Pte Ltd in FiinRatings Joint Stock Company

Awards & Rankings

Allen & Gledhill named National Law Firm of the Year (Singapore) at IFLR Asia-Pacific Awards 2025

Allen & Gledhill recognised among world’s top international arbitration practices

Allen & Gledhill wins Merger Control Matter of the Year at the GCR Awards 2025

Allen & Gledhill maintains its top tier ranking in the Asia IP Copyright Survey 2025 Rankings

Tham Kok Leong recognised in Asian Legal Business Asia Super 50 TMT Lawyers 2025