Reading Time: 3 minutesIn early January the Ministry of Planning and Finance (“MOPF”) issued Announcement 1/2019 through which foreign companies were permitted “to operate the business of insurance, underwriting agency or insurance broking with foreign investment” in Myanmar. Further to this announcement, the Financial Regulatory Department (“FRD”) has now published an Request for Proposal (“RFP”) for 100% foreign […]
Reading Time: 12 minutesSingapore has long been known for low levels of corruption. In 2017, Singapore was ranked the 6th least corrupted country in the world based on the Corruption Perceptions Index 2017[1], a research done by Transparency International. However, this does not mean that Singapore is free from corrupt practices, with the recent Keppel Offshore and Marine […]
Reading Time: 2 minutesIn the most recent update on the Myanmar banking sector, the Central Bank of Myanmar (“CBM”) announced amended and increased lending rates through the issuing of Directive 1/2019 (“Directive”) on 15 January 2019. The changes in this Directive will take effect from 1 February 2019. Under this Directive, 13% will be the highest lending rate […]
Reading Time: 6 minutesThailand was one of the first ASEAN Member States to enact a competition law with the Price Fixing and Anti-Monopoly Act of 1979. However, that legislation was generally accepted to have been ineffective in relation to competition law enforcement and was replaced by the Trade Competition Act B.E. 2542 (1999) (“Old TCA”). The Old TCA came into […]
Reading Time: 4 minutesIn a decision rendered by the Intellectual Property Office of Singapore (IPOS), Who are the parties involved in this case? Bridgestone Corporation and Bridgestone Licensing Services, Inc. (“Opponents”) Deestone Limited (“Applicant”) What actually happened? The Opponents are the owners of the “Bridgestone” and “Firestone” trade marks. The Applicant applied to register the “Deestone” trade mark, […]
Reading Time: 3 minutesFollowing the Federal Government’s announcement in September 2018 regarding changes to the equity crowdfunding legislation there has been a lot of hype within the startup community about the positive impact this will have. Equity crowdfunding is still a largely misunderstood concept. Whilst it can be a great way to put your business in the spotlight […]
Reading Time: 3 minutesA recent development in the insurance sector has allowed foreign insurance providers to finally operate in the Myanmar insurance sector. Through Announcement No. 1/2019, the Ministry of Planning and Finance (“MOPF”) now permits foreign companies “to operate the business of insurance, underwriting agency or insurance broking with foreign investment” in Myanmar. This announcement follows Notification […]
Reading Time: 5 minutesThe Amended Law on Value Added Tax Law (No. 48/NA, dated 20 June 2018) (“Amended Law on VAT”) was posted on the Lao Official Gazette on 4 December 2018 and is effective from 18 December 2018. We summarize in this client alert the key important points to note from the Amended Law on VAT. 1. […]
Reading Time: 4 minutesIntroducing Overseas Vendor Registration and the Reverse Charge Mechanism. In October 2018, the Goods and Services Tax Act was amended so that Goods and Services Tax (“GST”) in Singapore will extend to imported services from 1 January 2020 onwards. Starting from 1 January 2020,[1] GST will be introduced on imported services via: an Overseas Vendor […]
Reading Time: 4 minutesGetting a new business up and running can be a difficult and at times convoluted process. Expanding the business by obtaining funding and dividing equity amongst shareholders can be both exciting and daunting. When there is more than one shareholder in a business a Shareholders Agreement is a critical and necessary document for you to […]
Reading Time: 5 minutesThe “I did not know!” Defence and “Do I really need not have A Personal Data Protection Policy in My Organisation, I didn’t think I needed it”? That is exactly what the management of “Bud Cosmetics Pte Ltd” (“Bud Cosmetics”) told the Commissioner of the Personal Data Protection Commission in Re Bud Cosmetics Pte Ltd [2019] […]
Reading Time: 3 minutesA CHECKLIST TO ENSURE COMPLIANCE Employing people in your business is both an exciting milestone but can be burdensome given the robust employment law regime in place in Australia. Ensuing that you and your business are in line with the requirements of employment laws is important, both to the longevity of your company and your […]
