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Legal Developments in Singapore

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • PROPOSED LISTING MANUAL AMENDMENTS TO STRENGTHEN CORPORATE GOVERNANCE PRACTICE

    The Singapore Exchange Ltd (the “SGX”) has issued a public consultation paper which sets out proposed amendments to the Listing Manual of the Singapore Exchange Securities Trading Ltd (the “Listing Manual”). The proposals are the result of the SGX’s latest rule review. Such reviews are carried out annually to keep abreast of industry developments and to enhance the standards of the listed companies.
    - Drew & Napier LLC
  • SINGAPORE HIGH COURT CLARIFIES SCOPE OF FORCE MAJEURE AND TERMINATION CLAUSES

    The Singapore High Court has ruled that a rise in prices of sand, caused by a ban on sand exports (the “sand ban”) by the Indonesian government in January 2007, did not constitute a force majeure event which would relieve a concrete supplier of its obligations to supply concrete to a construction company. The court also highlighted the importance of being clear and unequivocal when communicating one’s intention to terminate a contract.
    - Drew & Napier LLC
  • GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

    Monetary Authority of Singapore (“MAS”) advocates that Islamic finance products shall receive similar regulatory treatments as the conventional finance products. However, MAS has not opted to have a separate Islamic finance regulatory regime that exists in parallel with the conventional framework. MAS accordingly serves as the driving force behind the change in the laws and regulations pertaining to the governance, validation and enhancement of Islamic finance transactions.
    - Loo & Partners
  • EROSION OF REMITTANCE BASIS OF TAXATION AND REVIVAL OF THE SOURCE ISSUE

    The charging section in the Income Tax Act brings within Singapore’s taxing jurisdiction not only income that is sourced in Singapore, but also income which is received in Singapore from outside of Singapore. In the light of criticism against remittance of income as a basis for taxation and the persistent lobbying of businesses in Singapore, recent amendments to the Income Tax Act have been steadily chipping away at the remittance basis of taxation in Singapore.
    - Drew & Napier LLC
  • INCOME TAX (AMENDMENT) (EXCHANGE OF INFORMATION) BILL 2009

    The Income Tax (Amendment) (Exchange of Information) Bill (the “Bill”) has been introduced in Parliament. The Bill proposes to amend the Income Tax Act to bring the level of assistance Singapore can provide to foreign jurisdictions under Avoidance of Double Taxation Agreements (“DTAs”) in line with the Organization for Economic Cooperation and Development’s Standard on the exchange of information for tax purposes (the “Standard”)
    - Drew & Napier LLC
  • Merger Control 2009

    The international regulation of mergers and joint ventures in 64 jurisdictions worldwide
    - Drew & Napier LLC
  • BANKS FACE CONSEQUENCES OF NON-COMPLIANCE WITH INTERNAL PRACTICES AND ACCEPTED BANKING PROCEDURES

    The Singapore High Court has criticised the conduct of the Singapore branches of two foreign banks in failing to adhere to internal control mechanisms and accepted banking procedures in the verification of signatures on certified extracts of board resolutions. The court also provided valuable guidance on the steps banks could take to ensure the bona fides of such certified extracts.
    - Drew & Napier LLC
  • QUARTERLY UPDATE: Competition Law

    (1) Singapore Competition Law Watch (2) Regional Focus - China  (3) Regulatory Update  (4) Industry News - Aviation - Petrochemical - Cement - Financial - IT - Others  (5) Do you know?
    - Drew & Napier LLC
  • REGULATION UPDATE: CATALIST TRANSITION MEASURES

    The Singapore Exchange Limited (the “SGX”) has announced two measures to assist companies listed on Catalist which have yet to appoint a sponsor (“Catalist-NS companies”). The measures are intended to provide financial assistance and time extension to Catalist-NS companies in light of the current challenging economic climate.
    - Drew & Napier LLC
  • GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

    On 3 April 2009, the Monetary Authority of Singapore (“MAS”) issued the Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (the “Guidelines”) to promote fair dealing by financial institutions when they conduct business with their customers.
    - Loo & Partners

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Three new partners and shareholders in Andreas Neocleous & Co LLC

    We are pleased to announce the election of three new partners and shareholders in Andreas Neocleous & Co LLC with effect from 1 January 2010
    Andreas Neocleous & Co
  • Salans Advises Renaissance-Amstar JV on €60m financing of green shopping complex in Russia

    International law firm Salans has advised SibStroyInvest, a joint venture between Renaissance, one of the leading shopping mall development companies, and Amstar Global Partners, a private equity real estate fund active in emerging markets including Russia, on a €60m debt financing consisting of a €40m senior loan from the European Bank of Reconstruction and Development and UniCredit Bank Austria as 50% participant and €20m subordinate loan from the EBRD for the new Aura Shopping Centre in the city centre of Novosibirsk, Russia.
    Salans
  • Ogier to offer Guernsey and Jersey legal and fiduciary services in Asia

    Ogier, one of the leading offshore legal and fiduciary firms, has announced plans to offer Guernsey and Jersey services in Asia. In May, Guernsey and Jersey lawyers will be relocating to the firm’s Hong Kong office, where the firm has an established BVI and Cayman legal practice. This latest move comes in response to increased client demand for Channel Islands legal and fiduciary services in the Asian time zone. This is yet another first for Ogier as it will be the first time that Guernsey and Jersey lawyers will operate in this region.
    Ogier
  • Hassans ‘treble’ called to the Gibraltar Bar

    Hassans is delighted to announce that three associates (pictured from left to right, Lizanne Noguera, Grahame Jackson and Joelle Hernandez) were called to the Gibraltar Bar/ Admitted to the Role of Solicitors last week.
    Hassans
  • Mourant and Ozannes to merge creating offshore law firm leader

    Mourant du Feu & Jeune and Ozannes, two of the leading law firms in the Channel Islands, have announced their intention to merge.
    Mourant du Feu & Jeune
  • Hengeler Mueller advises AudioNova on proposed acquisition of GEERS Group

    AudioNova International - the hearing aid retail subsidiary of the Dutch investment company HAL Investments - and shareholders of GEERS Hörakustik have reached an agreement in principle on the acquisition by AudioNova of a 75% stake in GEERS, the Dortmund-based hearing aid retailer.
    Hengeler Mueller
  • Sarrau Thomas Couderc a conseillé Air Liquide dans le cadre de l’acquisition de DinnoSanté

    Paris, le 3 février 2010. Le cabinet Sarrau Thomas Couderc a conseillé Air Liquide, 1er acteur européen des soins à domicile, dans le cadre de l’acquisition de la société DinnoSanté entreprise spécialisée dans les prestations médico-techniques pour le diabète.
    Sarrau Thomas Couderc
  • Nestor Nestor Diculescu Kingston Petersen Assists Ford in a New Complex Transaction

    Bucharest, January 21st - Nestor Nestor Diculescu Kingston Petersen (NNDKP) provided assistance to Ford with respect to the negotiation and conclusion of the guarantee agreement and of the movable and immovable security agreements for the purpose of securing a EUR 320 million guarantee from the Romanian state.
    Nestor Nestor Diculescu Kingston Petersen
  • A first on the Romanian insolvency market

    Nestor Nestor Diculescu Kingston Petersen lays the foundation for a permanent collaboration with Casa de Insolventa Transilvania
    Nestor Nestor Diculescu Kingston Petersen
  • New Partners at AFR Advocates

    AFR Advocates has appointed two new partners, Advocates Sara Mallett and Simon Geall
    AFR Advocates