Cambodia Tax Alert: Interest Rate Update/Transfer Pricing

Reading Time: 3 minutesMarket rates On 13 March 2019, the General Department of Taxation (“GDT”) released Notification 4630, which provides the “market rates” for determining the caps on interest rate deductions for loans that had been entered into using Khmer Riel (“KHR”) and United States Dollars (“USD”) in the 2018 financial year. The “market rates” for 2018 are as […]

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Hong Kong: Mutual recognition of funds between Luxembourg and Hong Kong

Reading Time: 5 minutesIntroduction The Securities and Futures Commission (“SFC”) from Hong Kong and the Commission de Surveillance du Secteur Financier (“CSSF”) from Luxembourg have entered into a Memorandum of Understanding (“MoU”) on Mutual Recognition of Funds (“MRF”) on 15 January 2019, which will allow eligible Hong Kong public funds and Luxembourg UCITS fund (a collective investment scheme […]

Vietnam Legal Alert: New Regulations Further Restrict the Scope of Local Lending in Foreign Currency

Reading Time: 2 minutesThe State Bank of Vietnam (the “SBV”) issued Circular No. 42/2018/TT-NHNN dated 28 December 2018 (“Circular 42”) that amends and supplements specific articles of Circular No. 24/2015/TT-NHNN of the SBV dated 8 December 2015 (“Circular 24”) regulating lending in foreign currencies to resident borrowers by credit institutions and foreign bank branches established and operating in […]

Vietnam Legal Update: Proposed New Solar Feed-In-Tariff

Reading Time: 4 minutesOn 22 February 2019, the Ministry of Industry and Trade of Vietnam (the “MOIT”) publicized a draft Decision (the “Draft Decision”) that will replace Decision No. 11/2017/QD-TTg issued by the Prime Minister of Vietnam dated 11 April 2017 ( “Decision 11”) on mechanisms to encourage the development of solar power projects in Vietnam. The Draft […]

Hong Kong: Amendments to an employment contract – whether there is “real benefit” to an employer

Reading Time: 4 minutesIntroduction In our previous newsletter “Amendments to an Employment Contract Must Be Supported by Fresh Consideration” (September 2017), we discussed the ruling of the Court of First Instance (“CFI”) in Wu Kit Man v Dragonway Group Holdings Limited HCLA 15/2016, where the CFI held that amendments to an existing employment contract were unenforceable due to lack of […]

Hong Kong: The Competition Tribunal refuses last-minute application to amend pleadings two months before trial

Reading Time: 4 minutesIntroduction In Competition Commission v Wing Hing Construction Co Ltd [2018] HKCT 6, the Competition Tribunal refuses a respondent’s application to amend its Response and file new witness statements in substitution for a statement already filed. Factual background In these proceedings, the respondents were contractors appointed from a reference list of the Hong Kong Housing Authority to […]

Indonesia Legal Alert: A Regulatory Pole Vault for the Indonesian Crypto-Industry

Reading Time: 2 minutesFebruary 2019 was a tumultuous month for the Indonesian crypto-industry with the introduction of regulations that impose staggering thresholds for minimum capital and closing balance requirements among other stringent qualifying criteria for Crypto Asset Exchanges, Custodians, Clearing Agencies and Traders. The regulatory rationale advanced by Indonesia’s Commodity Futures Trading Supervisory Authority, “Bappebti” is that in […]

Cannabis is now legal in Thailand for medical use and research

Reading Time: 5 minutesWhat do investors need to know about it? The latest amendment to the Narcotics Act, effective as of 18 February 2019, allows only the distribution and possession of cannabis for study and medical purposes and in limited quantities. The use or possession of cannabis for purposes other than the ones mentioned above is still prohibited […]

Australia: Value: am I getting it from my litigation lawyer?

Reading Time: 3 minutesEvery director or general counsel responsible for managing litigation is tasked with achieving better outcomes for less. In essence, the task is to achieve better value for your company’s litigation spend. However, you can’t achieve better value without an objective sense of what value looks like – how do I know when I am getting good value […]

Hong Kong: HKEx published its latest review of corporate governance practices and updated its guidance material on ESG reporting

Reading Time: 8 minutesIntroduction On 16 November 2018, The Stock Exchange of Hong Kong Limited (the “Exchange”) published the findings of its latest review of listed issuers’ corporate governance practices and updated its guidance material on environmental, social and governance (“ESG”) reporting. Latest review of listed issuers’ corporate governance practices Since the introduction of the Corporate Governance Code […]