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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Loo & Partners

View the listing for Loo & Partners

Singapore exchange proposes changes to IPO structure

January 2013 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Singapore Exchange (SGX) has proposed some significant initiatives to the offer structure relating to initial public offerings (IPOs).

Simplifies and Enhances Requirements on Disclosure of Interests in Listed Entities

January 2013 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Monetory Authority of Singapore has introduced a new disclosure of interests (DOI) regulatory regime to streamline and enhance the existing DOI requirements in listed entities by directors and substantial shareholders.

SINGAPORE COMPLETES COMPANIES ACT REVIEW

December 2012 - Corporate & Commercial. Legal Developments by Loo & Partners.

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Through a press release on October 3 2012, Singapore's Ministry of Finance (MOF) confirmed that it has completed its review of the Companies Act. Following the public consultation carried out in 2011, the MOF has accepted 192 and modified 17 recommendations of the Steering Committee.

FUND MANAGEMENT IN SINGAPORE UNDER THE NEW REGULATORY FRAMEWORK

December 2012 - Finance. Legal Developments by Loo & Partners.

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The asset management industry has been facing tighter regulations globally. Singapore's much-anticipated enhanced regulatory framework for fund management companies (FMCs) was finally implemented by the Monetary Authority of Singapore (MAS) in August. This move will help to align Singapore's fund management regulatory framework more closely with those adopted in other international financial hubs.

INDENPENDENT DIRECTORS: AN ENDANGERED SPECIES? OBSERVATIONS ON AIROCEAN

December 2012 - Corporate & Commercial. Legal Developments by Loo & Partners.

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In recent years, directors of listed companies often face difficulties in ascertaining if certain information needs to be disclosed under the Securities and Futures Act (SFA). The disclosure requirements issue came to light when three former independent directors of Airocean Group Limited ("Airocean") were convicted of disclosure related offences under the SFA in the District Court.

RECENT CASE UPDATE: VALIDITY OF AGREEMENT TO "NEGOTIATE IN GOOD FAITH"

December 2012 - Litigation & Dispute Resolution. Legal Developments by Loo & Partners.

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In HSBC Institutional Trust Services (Singapore) Ltd (trustee of Starhill Global Real Estate Investment Trust) ("Landlord") v Toshin Development Singapore Pte Ltd ("Tenant") [2012] SGCA 48, the Singapore Court of Appeal upheld a contractual clause which requires the parties "to negotiate in good faith". In its judgment, the Court of Appeal also elaborated on the scope of "good faith" obligation during negotiation.

Simplifies and Enhances Requirements on Disclosure of Interests in Listed Entities

November 2012 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Monetary Authority of Singapore has introduced a new disclosure of interest (DOI) regulatory regime to streamline and enhance the existing DOI requirements in listed entities. The new regime has taken with effect from 19 November 2012.

MOFCOM Approves Nestlé’s Acquisition of Hsu Fu Chi International Limited

February 2012 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Ministry of Commerce of the People’s Republic of China (“MOFCOM”) has approved the acquisition of 60.00 percent interest in Hsu Fu Chi International Limited (“Hsu Fu Chi”) by Nestlé S.A (“Transaction”) on 6 December 2011.

Enforceability of restrictive covenants

February 2012 - Employment. Legal Developments by Loo & Partners.

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In Smile Inc Dental Surgeons Pte Ltd v Lui Andrew Stewart [2011] SGHC 266, the Singapore High Court considered restrictive covenants in an employment contract.

Tighter leash on Singapore credit rating agencies

February 2012 - Finance. Legal Developments by Loo & Partners.

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The future of credit rating agencies (CRAs) in Singapore took a twist on January 17 2012 when the Monetary Authority of Singapore (MAS) released a new regulatory framework for credit rating agencies.

Bidding farewell to a listed status via a scheme of arrangement

February 2012 - Corporate & Commercial. Legal Developments by Loo & Partners.

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On 23 December 2011, Hsu Fu Chi International Limited (“Hsu Fu Chi”) was successfully delisted from the Singapore Exchange Securities Trading Limited (“SGXST”) following the acquisition of a 60 percent stake by Nestlé S.A.

An Asian ‘super-bourse’: Still a possibility?

November 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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Asian Legal Business (ALB): How did the SGX fare in terms of the listings it attracted last year?

SGX Enhanced Listing Rules to Strengthen Corporate Governance Practice

November 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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Following public consultation in January 2010, Singapore Exchange Ltd (“SGX”) has announced on 14 September 2011 extensive amendments to the listing rules to strengthen corporate governance practices and foster greater corporate disclosure.

Energy & Resources

November 2011 - EU & Competition. Legal Developments by Loo & Partners.

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Asian Legal Business (ALB): As a specialist practitioner in this field, could you please enlighten our readers on the current state of the Energy and Resources (E&R) industry?

Proposed Implementation of Circuit Breakers for Securities Market

November 2011 - Finance. Legal Developments by Loo & Partners.

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On 7 July 2011, SGX Group proposed to implement Circuit Breakers on the Singapore Stock Exchange (“SGX”) in order to control volatility in its equity market and attract global investors to the local bourse.

Public Consultation on the Review of the Companies Act

November 2011 - Finance. Legal Developments by Loo & Partners.

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The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) have jointly invited the public to provide feedback on (i) the Report of the Steering Committee for Review of the Companies Act; and (ii) the Consultation on the Regulatory Framework for Foreign Entities in Singapore.

Capital Markets Q&A Can Asia’s capital markets continue to roar

September 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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Asian Legal Business (ALB): 2010 was a year in which many, if not most, exchanges across Asia set new records. Is 2011 also likely to be a year in which new records are set?

Proposed Implementation of Circuit Breakers for Securities Market

August 2011 - Finance. Legal Developments by Loo & Partners.

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On 7 July 2011, SGX Group proposed to implement Circuit Breakers on the Singapore Stock Exchange (“SGX”) in order to control volatility in its equity market and attract global investors to the local bourse.

The Right Approach In Developing Islamic Finance In Singapore

August 2011 - Finance. Legal Developments by Loo & Partners.

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Singapore has established a strong reputation as an international financial hub which offers a full suite of financial services.

Singapore Proposes Regulation Of Credit Rating Agencies

July 2011 - Finance. Legal Developments by Loo & Partners.

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Credit rating agencies (“CRAs”) play an important role in the capital markets. CRAs provide credit ratings on entities and securities that are widely relied on by participants in the securities markets and the banking industry, thus creating a significant impact on the operation of the markets and on investor confidence.

The Future Of Corporate Governance For Financial Institutions In Singapore

July 2011 - Finance. Legal Developments by Loo & Partners.

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In a bid to strengthen the corporate governance regime for financial institutions (“FIs), the Monetary Authority of Singapore (MAS), on 9 December 2010, published changes to the Banking (Corporate Governance) Regulations 2005, the Insurance (Corporate Governance) Regulations 2005 (collectively, the “Regulations”) and MAS Guidelines on Corporate Governance for Banks, Financial Holding Companies and Direct Insurers (“Guidelines”).

Revised Code on Collective Investment Schemes (CIS)

July 2011 - Finance. Legal Developments by Loo & Partners.

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The Code on Collective Investment Schemes (“Code”) is issued by the Monetary Authority of Singapore (“MAS”) on 23 May 2002 pursuant to section 321 of the Securities and Futures Act (Cap. 289) (“SFA”). The Code prescribes best practices in the management, operation and marketing of collective investment schemes.

Launch of Private Banking Code of Conduct

July 2011 - Finance. Legal Developments by Loo & Partners.

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On 5 April 2011, the Monetary Authority of Singapore welcomes the launch of a Code of Conduct for the private banking industry in Singapore (the “PB Code”).

SGX’s Catalist Opens Door to Early Stage Mineral, Oil And Gas Companies

July 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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In a move expected to expand the repertoire of resource companies listed on the Singapore Exchange ("SGX"), the SGX amended the Catalist rules to accommodate the listing of early stage mineral, oil and gas ("MOG") companies with effect from 1 February 2011.

Public Consultation On The Review Of The Business Registration Act

May 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Accounting and Corporate Regulatory Authority (“ACRA”), Singapore’s national regulator and registration authority for businesses and public accountants, issued a public consultation paper in October 2010 on the review of the Business Registration Act (Chapter 32 of the Statutes of Singapore) (the “Act”).

A New Year with New SGX Rules

May 2011 - Finance. Legal Developments by Loo & Partners.

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The Singapore Exchange Limited (“SGX”)
is wrapping up the year 2010 with good
news for all Singapore listed companies.
Singapore listed companies will soon find
it easier to raise secondary funding

Mergers and Acquisitions Q&A 2011: Another record year for Asian M&A?

May 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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ALB: As the spectre of the financial crisis is lifted from the region, M&A levels took off around Asia. What do you feel are the prospects for another record-breaking year in 2011?

Loo Choon Chiaw: The Asia Pacific region has indeed experienced strong growth in M&A activities. Bloomberg has reported that Asia Pacific eclipsed Europe in 2010 as the second most active region, following North America. Thomson Reuters predicted that global M&A activity will increase by 36% in 2011 to USD3.04 trillion as opposed to the 12% growth in 2010.

 

Banking and Finanace Q&A

February 2011 - Finance. Legal Developments by Loo & Partners.

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Moving past the 'year of fear': Loon Choon discusses

Carbon market in Singapore

February 2011 - Projects, Energy & Natural Resources . Legal Developments by Loo & Partners.

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In conjunction with the Singapore International Energy Week (21 October - 4 November, 2010), the Singapore government announced its intention to introduce carbon pricing if a global treaty is reached to curb carbon emissions.

SINGAPORE EXCHANGE LAUNCHES ADRs, BRINGS US-LISTED ASIAN COMPANIES TO ASIA

February 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Singapore Exchange (SGX) has announced that its new board, GlobalQuote, which it has set up in collaboration with NASDAQ OMX Group Inc., will begin operation on 22 October 2010 with American Depository Receipts (ADRs) of 19 major Asian companies. Of these 19 companies, 9 are currently trading their ADRs in the US while the other 10 have listings in Hong Kong.

Proposed Policy Statement and Guide to Sustainability Reporting for Listed Companies

February 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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Singapore Exchange Limited (“SGX”), on 28 August 2010, issued a consultation paper on the proposed policy statement on sustainability reporting and guide for its listed companies in formulating their sustainability reporting framework. The proposed policy statement and guide, if adopted, shall set the baseline for holistic reporting going beyond corporate governance to social and environmental aspects.

Singapore GOING GREEN!

February 2011 - Projects, Energy & Natural Resources . Legal Developments by Loo & Partners.

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Should one do a web search on topics relating to clean technology today, one will easily get at least 100,000 relevant hits, reflecting an inevitable fact – the “CleanTech” era is here. Singapore, a financial and trading hub, has realized the great potential of clean technologies and has implemented various strategies to attract clean technology dollars to its shores.

IMPLEMENTATION OF NEW INTIATIVES BY ACRA TO ENCOURAGE VOLUNTARY COMPLIANCE AMONGST COMPANIES

February 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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In order to ensure that the relevant and essential corporate and financial information are disclosed promptly and accurately, the Accounting and Corporate Regulatory Authority (ACRA) of Singapore has recently announced the implementation of several new initiatives to further strengthen the regulatory regime. These new initiatives are as follow

ACRA’S NEW INITIATIVES TO ENCOURAGE VOLUNTARY COMPLIANCE AMONGST COMPANIES

February 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Accounting and Corporate Regulatory Authority (ACRA) has been implementing several initiatives as an impetus for locally incorporated companies to comply with the corporate regulatory requirements as well as acknowledge companies who have made the effort to comply.

Recent Changes to the Securities and Futures Act (Cap 289) (“the Act”)

February 2011 - Finance. Legal Developments by Loo & Partners.

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The Securities and Futures (Amendment) Act 2009 (“SF(A)A”)was passed by the Parliament on 19 February 2009. Since then, the SF(A)A had been implemented in stages. The following outlines several amendments which took effect on 29 March 2010:-

Singapore receives boosts in fertility for growth of mergers and acquisitions

February 2011 - EU & Competition. Legal Developments by Loo & Partners.

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Two years after worldwide M&A plunged into a deal famine, 2010 seems to be a time of valuable opportunity for those with an appetite for acquisitions. Recently, the market has been buoyant with good news of economic recovery pouring in.

Islamic Finance in Singapore

February 2011 - Finance. Legal Developments by Loo & Partners.

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The global economic crisis brought attention to Islamic banking and finance as a more ethical alternative to the western approach of the conventional interest-based finance system. It was perceived that the risk and profit-sharing feature inherent in Islamic finance transactions promotes better financial stability given that such transactions are likely to be less speculative, more prudent and carries less leverage.

SGX proposes new Mainboard listing criteria and introduction of SPACs

February 2011 - Corporate & Commercial. Legal Developments by Loo & Partners.

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The Singapore Exchange Limited (“SGX”) is proposing changing the Mainboard listing criteria and introducing a separate listing framework for Special Purpose Acquisition Companies (“SPACs”). This article looks at some of the changes proposed.

Proposed Introduction of Catalist Listing Rules for Mineral, Oil and Gas Companies

February 2011 - Projects, Energy & Natural Resources . Legal Developments by Loo & Partners.

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Singapore Exchange Ltd (“SGX”), in August 2009, issued a consultation paper inviting public comments on its proposed rules to allow early stage mineral, oil and gas (“MOG”) companies to list on Catalist, its sponsor-supervised board for fast growing companies.

Implementation of ASEAN and Plus Standards Scheme for Offer of Investments in Singapore

February 2011 - Finance. Legal Developments by Loo & Partners.

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The ASEAN and Plus Standard (the “Scheme”) for multi-jurisdiction offerings of securities in ASEAN has been effectively implemented on 19 June 2009 in Singapore. The Scheme is implemented via the Securities and Futures (Offers of Investments) (Shares and Debentures) Amendment Regulation 2009 (the “Amendment Regulations”).

Carbon Market in Singapore

November 2010 - Projects, Energy & Natural Resources . Legal Developments by Loo & Partners.

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In conjunction with the Singapore International Energy Week (21 October – 4 November, 2010), the Singapore government announced its intention to introduce carbon pricing if a global treaty is reached to curb carbon emissions.

Joint Effort Of Sgx And Acra In Providing Guidance To Audit Committees

September 2010 - Finance. Legal Developments by Loo & Partners.

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The effective interaction between Audit Committees (“AC”) and external auditors plays a critical role in preserving the quality of audit outcome as well as promoting the effectiveness of corporate governance framework.

Singapore GOING GREEN!

September 2010 - Projects, Energy & Natural Resources . Legal Developments by Loo & Partners.

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This following summarises Singapore’s recent progress in Going Green:

Islamic Finance in Singapore

May 2010 - Finance. Legal Developments by Loo & Partners.

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The global economic crisis brought attention to Islamic banking and finance as a more ethical alternative to the western approach of the conventional interest-based finance system. It was perceived that the risk and profit-sharing feature inherent in Islamic finance transactions promotes better financial stability given that such transactions are likely to be less speculative, more prudent and carries less leverage.

GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

January 2010 - Finance. Legal Developments by Loo & Partners.

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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.

GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

June 2009 - Finance. Legal Developments by Loo & Partners.

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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.

NEW SECURITIES LISTING RULES TO HEIGHTEN MARKET EFFICIENCY

April 2009 - Finance. Legal Developments by Loo & Partners.

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In July 2008, Singapore Exchange Limited (“SGX”) invited public comment on its proposed changes to securities listing rules. The proposed new rules, inter alia, introducing the listings of Life Science Companies (“LSC”) with no financial track record and revision of IPO distribution requirements, will allow for more alternatives that will widen the range of companies and product types listed on SGX. Following the public consultation, SGX had finalised the new listing rules and changes to securities listing rules. These changes will take effect on 24 March 2009.

Singapore Exchange introduces new business continuity rules

April 2009 - Corporate & Commercial. Legal Developments by Loo & Partners.

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On 21 January 2009, Singapore Exchange Limited (the “SGX”) issued a press release announcing the introduction of new rules requiring SGX member firms to develop robust “Business Continuity Management (BCM)” arrangements. This follows a public consultation in May 2008, on proposed BCM requirements. The BCM requirements are implemented under the SGX-Securities Trading Rules, Futures Trading rules, CDP Clearing Rules and the SGX-Derivatives Clearing Rules.

Growth of Islamic Finance

April 2009 - Finance. Legal Developments by Loo & Partners.

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With the efforts of the Monetary Authority of Singapore (“MAS”), Singapore is moving closer to its well-published desire of becoming an Islamic finance centre in Asia. Singapore has been chosen as the first Asian country to host the 6th annual summit of Islamic Financial Services Board in May 2009. The hosting of the scheduled event underscores Singapore’s role as an international financial centre.

SGX SEEKS PUBLIC COMMENTS ON PROPOSED PENALTY FRAMEWORK FOR NON-DELIVERY OF SECURITIES

April 2009 - Finance. Legal Developments by Loo & Partners.

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Singapore Exchange (“SGX”) has issued a consultation paper seeking public feedback on the proposed permanent penalty framework for non-delivery of securities. For readers who are keen to read more on the proposed framework, the same may be accessed from SGX’s website at www.sgx.com.sg. This is preceded by the implementations of SGX on 22 September 2008 to prevent settlement failures of securities and abusive naked short-selling. Short-selling is the sale of securities or commodity futures not owned by the seller (who hopes to buy them back later at a lower price).

SGX AND “WATCH-LIST”

March 2009 - Finance. Legal Developments by Loo & Partners.

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On 6th December 2007, the SGX has amended its Listing Manual and introduced a “Watch-list” for companies listed on the Mainboard (“Mainboard companies”).

Prolonged suspension not in interest of shareholders and market

March 2009 - Corporate & Commercial. Legal Developments by Loo & Partners.

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"Cash companies" (companies which have sold their operations so that their assets comprise wholly or substantially of cash) and "distressed companies" (companies facing persistent financial difficulties) are given a reasonable period of time under the listing rules to submit proposals for very substantial acquisitions or reverse takeovers ("RTOs") with a view to resuming trading ("resumption proposals"). Such companies are given an extension of time to implement resumption proposals already approved by the Exchange. Continuation of listing is contingent on companies complying with the listing rules.

TRANSITION MEASURES FOR CATALIST NON-SPONSORED COMPANIES

March 2009 - Corporate & Commercial. Legal Developments by Loo & Partners.

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After the launch of Catalist on 26 November 2007 only a handful of Catalist companies had taken steps to appoint a continuing sponsor, whose primary responsibilities comprise the rendering of advice to the Catalist companies on rule compliance.

UNIQUE ENTITY NUMBER (“UEN”) BRINGS CONVENIENCE TO ENTITIES

March 2009 - Finance. Legal Developments by Loo & Partners.

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The Ministry of Finance (the “MOF”) issued a press statement announcing that from 1 January 2009, all entities that are registered in Singapore, such as businesses, local companies, limited liability partnerships (LLPs), societies, representative offices, healthcare institutions and trade unions, will have a Unique Entity Number (UEN) as its identification number. This shall be used for correspondence and interaction with government agencies.

SGX SEEKS PUBLIC COMMENTS ON PROPOSED PENALTY FRAMEWORK FOR NON-DELIVERY OF SECURITIES

March 2009 - Finance. Legal Developments by Loo & Partners.

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Singapore Exchange (“SGX”) has issued a consultation paper seeking public feedback on the proposed permanent penalty framework for non-delivery of securities.

Growth of Islamic Finance

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

With the efforts of the Monetary Authority of Singapore (“MAS”), Singapore is moving closer to its well-published desire of becoming an Islamic finance centre in Asia. Singapore has been chosen as the first Asian country to host the 6th annual summit of Islamic Financial Services Board in May 2009. The hosting of the scheduled event underscores Singapore’s role as an international financial centre.

Singapore Exchange introduces new business continuity rules

March 2009 - Corporate & Commercial. Legal Developments by Loo & Partners.

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On 21 January 2009, Singapore Exchange Limited (the “SGX”) issued a press release announcing the introduction of new rules requiring SGX member firms to develop robust “Business Continuity Management (BCM)” arrangements. This follows a public consultation in May 2008, on proposed BCM requirements. The BCM requirements are implemented under the SGX-Securities Trading Rules, Futures Trading rules, CDP Clearing Rules and the SGX-Derivatives Clearing Rules.

CATALIST, A SPONSOR-SUPERVISED LISTING PLATFORM ON SGX

November 2008 - Finance. Legal Developments by Loo & Partners.

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In 2006, the Monetary Authority of Singapore (“MAS”) and the Ministry of Law launched a joint public consultation on the proposed changes to the unsecured credit rules and the proposed application of these rules to moneylenders with appropriate modifications.

LEGISLATIVE AMENDMENTS TO UNSECURED CREDIT RULES BY MAS AND MINISTRY OF LAW

November 2008 - Tax & Private Client. Legal Developments by Loo & Partners.

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In 2006, the Monetary Authority of Singapore (“MAS”) and the Ministry of Law launched a joint public consultation on the proposed changes to the unsecured credit rules and the proposed application of these rules to moneylenders with appropriate modifications.

ESTABLISHMENT OF AUDIT COMMITTEE GUIDANCE COMMITTEE (“ACGC”)

November 2008 - Tax & Private Client. Legal Developments by Loo & Partners.

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The Monetary Authority of Singapore (“MAS”) and Singapore Exchange Ltd (“SGX”) had on 27 June 2007 released the findings from a study they had commissioned on the then state of corporate governance of SGX-listed companies in Singapore.

Responsibilities of Board and Financial Advisers in Assessing Acquisitions involving Profit Guarante

November 2008 - Tax & Private Client. Legal Developments by Loo & Partners.

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On 24 March 2008, the Singapore Exchange Limited (“SGX”) issued a News Release in the Regulator’s Column (please refer to www.sgx.com for the full details) setting out the responsibilities of boards of directors and their financial advisers in assessing acquisitions involving profit guarantees.

Singapore Exchange opens Beijing representative office

November 2008 - Tax & Private Client. Legal Developments by Loo & Partners.

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Singapore Exchange Limited (SGX) on April 18 announced the official of its Beijing representative office, which helps to attract more China listing and increase the profile of SGX.

Proposed Exemption from Section 31 Banking Act for Stabilising Activities

November 2008 - Finance. Legal Developments by Loo & Partners.

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On 5 May 2008, the Monetary Authority of Singapore (“MAS”) released a Consultation Paper on Proposed Exemption from Section 31 Banking Act for Stabilising Activities for public comments.

SGX AMENDS CDP RULES TO ADMIT BANKS AS CLEARING MEMBERS OF ITS SECURITIES MARKET

November 2008 - Finance. Legal Developments by Loo & Partners.

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On 10 June 2008, Singapore Exchange Limited (SGX) announced that it will admit banks in Singapore as Clearing Members of its securities market with effect from 1 July 2008. The membership will allow them to offer clearing services to SGX Trading Members and their customers.

SPH, SGX AND FTSE LAUNCH NEW FTSE ST CHINA TOP INDEX

November 2008 - Finance. Legal Developments by Loo & Partners.

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On 7 July 2008, Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group (FTSE) are pleased to announce the launch of a new index within the new China index. The new China index called FTSE ST Index series that currently track the top 20 Chinese stocks listed on the Singapore Exchange.