Legal Updates for Nov - 2018
This update sets out the recent legal developments in Vietnam on sales of goods and provision of services, and confidentiality of customer information.30 Nov 2018 | Vietnam
The Regional Comprehensive Economic Partnership (“RCEP”), a regional trade agreement currently being negotiated between the ASEAN countries and China, Australia, India, Japan, New Zealand and South Korea, has the potential to become the next mega-economic agreement after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) to facilitate the expansion of investment and trade in the Asia Pacific region. Given the current global trade environment, rising protectionist sentiments, and the expected increase in US trade sanctions against China, having a modern, comprehensive and mutually beneficial economic partnership like RCEP could be favourable for investors and consumers. This update examines what RCEP holds for Malaysia and what we might expect next.21 Nov 2018 | Malaysia
Securities and Futures Act Amendments – Classification of Accredited Investors and the Opt-In RegimeThe Securities and Futures (Amendment) Act 2017 introduced a spate of significant changes to the securities and derivatives industry. Of these amendments, one of the key changes that has taken effect is the revised eligibility requirements of Accredited Investors (“AI”). The new AI regime also introduces an opt-in mechanism (which comes into operation on 8 January 2019) through which eligible AIs can choose whether to be treated as a retail investor. In this Client Update, we look at the changes that have been implemented on the AI eligibility criteria, the key features of the opt-in/opt-out mechanism, and the various deadlines for compliance. 20 Nov 2018 | Singapore
Proposed New Regulation On Classification And Licensing Of Hospitals May Affect Foreign Direct Investment In Hospital Business
Foreign direct investment (“FDI”) in hospital business in Indonesia is currently regulated by the Presidential Regulation No. 44 of 2016 on Lists of Business Fields that are Closed to and Business Fields that are Open with Conditions to Investment (the "Negative List") and Ministry of Health ("MOH") Regulation No. 56 of 2014 on Classification and Licensing of Hospitals ("Regulation 56/2014"). The Negative List allows up to 67% foreign investment in a hospital (or 70% if the investor is domiciled in ASEAN countries) and foreign investment must also comply with the procedure under Regulation 56/2014 to establish, manage and classify a hospital.
According to an official of MOH, the Government is now planning to revise Regulation 56/2014 in order to increase foreign investment into classes A and B hospital, as the number of classes A and B hospitals is currently lower than classes C and D hospitals.
The proposed revision will not only affect the new licensing regime under the Online Single Submission (“OSS”) system, but also establish a stricter limitation for FDI in hospital business. Under the proposed revision, FDI may only be made in general and specialized hospitals under classes A and B that operate a minimum of 200 beds. This is different from the current limitation of FDI under the Negative List, which only limits the amount of investment to 67% (or 70% if the investor is domiciled in ASEAN countries) but does not limit the classes of hospital where such investment can be made.15 Nov 2018 | Indonesia
On 18 October 2018, the Ministry of Labour and Vocational Training (“MLVT”) issued Prakas No. 480 MLVT/P.NSSF to amend Articles 6, 11 and 13 of Prakas No. 109 dated 16 June 2008 on occupational risk benefits (“Prakas”) in order to clarify and adjust certain aspects of health benefits provided under Prakas No. 109. The Prakas amends three articles.07 Nov 2018 | Cambodia
On 5 October 2018, the Prakas on minimum wage determination for workers in textile, garment and footwear industries for 2019 (“Prakas”) was issued by the Ministry of Labour and Vocational Training. Under the Prakas, starting from 1 January 2019, the minimum wage for workers in the textile, garment and footwear industries will be US$182 per month.07 Nov 2018 | Cambodia