Financial Services Bulletin August 2025

28 August 2025

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Capital Markets

MAS consults on proposed enhancements to Product Highlights Sheet requirements and the complex products framework

MAS appoints first batch of EQDP asset managers, commits S$50 million to strengthen equity research and product listings, and outlines proposals to enhance investor recourse

Competition & Foreign Investment Review

Antitrust developments and enforcement activity in South-east Asia: January to March 2025

Corporate / M&A

MOF and ACRA consult on legislative amendments under draft Corporate and Accounting Laws (Amendment) Bill to prevent misuse of companies, reduce regulatory burden, and safeguard shareholders’ interests

Employment, Health & Safety

Tripartite Workgroup set up to review Employment Act 1968

ESG & Public Policy

Singapore convenes Economic Strategy Review with establishment of five committees

Financial Regulatory & Compliance

MAS consults on proposed changes to group capital framework for Designated Financial Holding Companies (Licensed Insurer)

MAS consults on proposed general insurance catastrophe risk requirement

ABS launches electronic deferred payment solutions as MAS responds to feedback on proposed sunsetting of corporate cheques and retail cheque transition plan

Regional News

China

China’s revised Anti-Unfair Competition Law targets involutionary competition and digital-era risks

Indonesia

Taking security under Indonesian law: Key principles, legal requirements, and practical insights

Malaysia

MCMC seeks feedback on proposed regulatory framework for unsolicited commercial electronic messages

Malaysia implements export control measures on advanced AI chips

Malaysia Federal Court finds “generating, transmitting, and distributing electricity” constitutes utility services, not manufacturing

Myanmar

Myanmar Cybersecurity Law in force 30 July 2025

Vietnam

Vietnam tightens rules on beneficial ownership in amendments to Law on Enterprises

Vietnam introduces new law on corporate income tax

Upcoming changes to Vietnam’s personal data protection regime

Publications

Lexology In-Depth: Corporate Governance (15th Ed, 2025) - Singapore

ICLG: Construction & Engineering Law 2025 (12th Ed) - Singapore

ICLG: Technology Sourcing 2025 (5th Ed) - Indonesia

Practical Law: Documents to Establish a Corporate Joint Venture in Singapore (2025)

Deals

Issue of A$1 billion floating rate green notes by Oversea-Chinese Banking Corporation Limited

Issue of S$700 million fixed rate notes by Housing and Development Board

S$619.3 million green loan facilities to a special purpose vehicle owned by GuocoLand Limited

US$15 million investment in and strategic partnership with Chocolate Finance

S$8 million financing of SG Enviro led by Emerald Technology Ventures Pte. Ltd.

US$2 million investment in Mamame Whole Foods led by Granite Asia

Awards & Rankings

Allen & Gledhill recognised as a leading law firm in Chambers High Net Worth guide

Allen & Gledhill ranked in Managing IP’s IP Stars 2025 as top tier firm for IP Transactions and leading firm for Copyright & Related Rights

Associate Professor Stephen Phua conferred the Public Service Star (Bintang Bakti Masyarakat) at the Singapore National Day Awards 2025