22 December 2017

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Banking

MAS announces new measure to limit unsecured credit to help individuals to avoid over-indebtedness

Capital Markets

SGX proposes T+2 trade settlement cycle and other changes to securities settlement framework

SGX, ABS, ISCA, Law Society of Singapore and SID launch guide on Handling of Confidential Information and Dealings in Securities: Principles of Best Practice

Competition

CCS issues Infringement Decision and imposes financial penalties of over S$600,000 for tender bid-rigging relating to Formula 1 Singapore Grand Prix

Corporate / M&A

Singapore High Court provides guidance on restructuring of business trusts

Dispute Resolution

Singapore High Court sets aside investor-State arbitral award on basis that award dealt with dispute falling outside the bounds of arbitration agreement

Employment

MOM, NTUC and SNEF issue Tripartite Standards on recruitment practices and procurement of services from media freelancers

Maritime & Aviation

UK Supreme Court declines taking into account ship owner’s windfall from sale of vessel in assessing loss of income following charterer’s repudiatory breach

Restructuring & Insolvency

Singapore High Court grants leave for scheme meeting under section 210 of Companies Act but declines granting super priority status to proposed financing under section 211E

Regional News

Securities Commission Malaysia issues enhanced guidelines on prospectus disclosures

Bursa Malaysia amends listing requirements to promote business efficacy and corporate governance

Myanmar Companies Law passed, to come into effect in 2018

Central Bank of Myanmar issues Directive on implementation of the asset classification and provisioning regulation

Publications

Global Legal Insights to Bribery & Corruption 2018: Singapore chapter

Deals

Landmark multi-jurisdictional IPO of Cromwell European REIT

S$1.99 billion term loan facility to YTL PowerSeraya Pte. Limited

S$847.6 million acquisition of Mapletree Logistics Hub Tsing Yi and S$640 million equity fund raising by Mapletree Logistics Trust Management Ltd.

Issue of S$680 million fixed rate notes by Housing and Development Board

Awards & Rankings

Allen & Gledhill remains as Singapore’s leading law firm in Chambers Asia-Pacific 2018 edition

Allen & Gledhill maintains leading position in The Legal 500 Asia Pacific 2018 edition

Allen & Gledhill voted Asian-MENA Counsel In-House Community Firm of the Year 2017