Legal Updates

Legal Updates for Jul - 2018

Singapore High Court Decides on Set-Offs and Costs Implications
In a commercial dispute, it is not uncommon for there to be both claims and counterclaims between the same parties. In Inzign Pte Ltd v Associated Spring Asia Pte Ltd [2018] SGHC 147, the Singapore High Court was faced with a situation where the awarded sum for the Defendant’s counterclaim was higher than the awarded sum for the Plaintiff’s claim. The Court thus had to determine the issues of set-off and costs implications. The Defendant was successfully represented by Lai Yew Fei and Tao Tao of Rajah & Tann Singapore LLP.
24 Jul 2018 | Singapore

ID Cards or Family Books and Residential Books Cannot be used as Collaterals for Loans

The National Bank of Cambodia has noticed there are banks, financial institutions and rural credit operators that are still accepting ID cards, family books and/or residential books as collaterals for granting loans. Notification No. B7-018-008 N.I on Prohibition of Accepting Identification Card or Family Book and Residential Book as Securities for Granting Loan dated 17 July 2018 was issued to serve as a reminder to these institutions of the sanctions of such unlawful practice.

20 Jul 2018 | Cambodia

Changes to the National Social Security Fund Health Benefits

On 25 April 2018, the Ministry of Labour and Vocational Training issued a Prakas to amend certain articles of a Prakas issued in 2016 regarding health benefits.

18 Jul 2018 | Cambodia

Law on Minimum Wage

On 6 July 2018, the Law on Minimum Wage was promulgated to set out the criteria and procedure for determining the minimum wage. This law aims to promote the livelihood of workers and increase their productivity, as well as encourage an investment-friendly environment.

18 Jul 2018 | Cambodia

MOC to Stop Accepting By-laws

On 12 July 2018, the Ministry of Interior issued an announcement addressed to the Ministry of Commerce ("MOC") to clarify MOC's competence and authority over local associations and non-governmental organizations.

18 Jul 2018 | Cambodia

The Online Single Submission: Indonesia's Latest Effort To Improve The Ease Of Doing Business

On 21 June 2018, the Government of the Republic of Indonesia issued Government Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services ("GR No. 24/2018"). GR No. 24/2018 seeks to improve the ease of doing business and increase investment in Indonesia. It also reflects the Government's direction to shift from its pre-commencing supervision system to post-commencing supervision. This is done by reducing the number of required business licenses and permits before one can commence business operation in Indonesia, as well as simplifying their application processes.

12 Jul 2018 | Indonesia

Competition Bites – South-East Asia & Beyond
2018 is now into its second half and continues to see competition regulators active. The issues which come up for attention are not limited to those in ecommerce and cuts across multiple industries. Several of the Southeast Asian regulators have also grown more sophisticated and have been taking on more complex cases, handling difficult issues. The Grab-Uber merger is one such example, where Singapore has proposed imposing financial penalties alongside various commitments. {start}Read{end} on if you don’t want to miss out on the latest developments in competition law around the globe.
11 Jul 2018 | Singapore

CCCS Consults on Proposed Remedies for Grab/Uber Merger
On 5 July 2018, the Competition and Consumer Commission of Singapore ("CCCS") announced that it had issued a Proposed Infringement Decision ("PID") against Grab and Uber in relation to the sale of Uber's Southeast Asian business to Grab in consideration of Uber holding a 27.5% stake in Grab ("Transaction"). The CCCS's provisional finding is that the Transaction has led to a substantial lessening of competition in the market for the provision of ride-hailing platform services in Singapore. Under the PID, the CCCS proposes to impose financial penalties on the merger parties (a first since the merger regime was introduced in 2007), together with various remedies. This Update provides a summary of the CCCS's provisional findings and proposed recommendations.
10 Jul 2018 | Singapore

Higher Stamp Duty Rates and Tightened Loan-to-Value Limits on Residential Property Purchases
On 5th July 2018, the Singapore government announced new property cooling measures – the rates for Additional Buyer's Stamp Duty would be raised and the loan-to-value limits granted by Banks would be reduced. Our article explores the key changes of the new measures which take effect from 6th July 2018, as well as the implications of the changes.
06 Jul 2018 | Singapore

BKPM Suspends Operation Pending Launch of New Online Single Submission System

At end of June 2018, the government enacted Government Regulation 24/2018 concerning Electronically Integrated Business Licensing Service ("GR 24/2018"), which introduces the so-called Online Single Submission ("OSS") system for the issuance of licenses and permits by the government. The objective of GR 24/2018 is to have a harmonised, unified, and simplified licensing process nationwide. Based on GR 24/2018, the OSS system will be undertaken by an ’OSS Institution’, which is a non-Ministerial government agency engaged in investment coordination.

Recently, the Indonesian Investment Board (the "BKPM") issued a press release informing the suspension of all license processing with effect from 29 June 2018, pending the launch of the OSS system. The OSS system will be a "one-roof" online licensing system for the handling of licenses previously managed by different ministries and government agencies, including the BKPM. The system will for the time being be administered by the Coordinating Ministry of Economic Affairs, until such time the OSS Institution is officially established or designated.

05 Jul 2018 | Indonesia

Disadvantages of Dealing with Unlawful Lenders

Recently, the National Bank of Cambodia (“NBC”) noticed that there are many active loan providers that are operating without the license and hence, unlawful, and have been advertising themselves as lawful loan providers through different forms of media such as social media, leaflet and text messages. As a result, many have become victims of these unlawful loan providers.

On 29 June 2018, NBC issued Announcement No. B17-018-007 P.A to spread awareness to the public about unlawful loans, by pointing out the disadvantages of seeking financial support from unregulated loan providers.

03 Jul 2018 | Cambodia