27 February 2017

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Banking

MAS seeks feedback on proposed amendments to regulations following passing of Banking (Amendment) Bill 2016

MAS releases Response to feedback from consultation paper on removing DBU-ACU divide

Capital Markets

MAS press release states that registered business trusts will adopt new financial reporting framework and sets out transitional relief for issuers affected by new framework

Corporate & M&A

SGX seeks public views on whether to implement listing framework for dual class share structures and possible safeguards for the framework

Singapore Court of Appeal grants conditional leave in section 216A application to control conduct of on-going suit

Financial Regulatory

MAS seeks comments on simplified authorisation and regulatory regime for managers of venture capital funds

More time allowed for reporting internally generated UTI of uncleared specified derivatives contract not electronically confirmed

MAS announces regulatory changes to strengthen finance companies resilience and ability to finance SMEs

MAS sets up Data Analytics Group to help position financial sector for future digital economy

Restructuring & Insolvency

Delaware Bankruptcy Court and Singapore Supreme Court implement Guidelines for Communication and Cooperation between Courts in Cross-Border Insolvency Matters

Financial institutions launch Debt Consolidation Plan from 23 January 2017

Singapore court recognises foreign liquidators of overseas company in voluntary winding up

Tax

Budget 2017: Analysis of major tax changes

General

Singapore Government accepts strategies proposed by Committee on the Future Economy in 2017 report

MAS strengthens financing channels for next-generation Asian growth companies and builds technology infrastructure to drive innovation in support of recommendations of Committee on the Future Economy

MinLaw consults on proposals to require trustees to maintain information on beneficial owners and up-to-date accounting records relating to Singapore trusts

PDPC publishes new “Guide to Preventing Accidental Disclosure When Processing and Sending Personal Data”

Singapore Court of Appeal delivers landmark decision on absolute privilege in defamation law

Singapore Court of Appeal considers proper limits of contractual interpretation

Regional News

Malaysian Companies Act 2016, Companies Regulations 2017 and Interest Schemes Act 2016 in force from 31 January 2017

New withholding tax rates in Myanmar from 1 April 2017

Draft Myanmar Companies Law sent to Parliament

Publications

Global Legal Insights to Cartels 2017: Singapore chapter

The Merger Control Review: Singapore chapter

Practical Law Energy and Natural Resource Global Guide: Electricity Regulation in Singapore

Practical Law Energy and Natural Resource Global Guide: Oil and Gas Regulation in Singapore

Deals

S$2.83 billion term loan facilities to Wealthy Link Pte. Ltd.

S$680 million term and revolving loan facilities to DBS Trustee Limited

S$305 million proposed disposal of 61% equity stake in TripleOne Somerset, Singapore

S$146.4 million initial public offering of Dasin Retail Trust

Awards & Rankings

Allen & Gledhill Intellectual Property practice ranked in top band in World Trademark Review 1000 2017 

Allen & Gledhill Intellectual Property practice maintains top tier rankings for trade mark work in Managing IP’s IP Stars 2017