Legal Updates

Legal Updates for Jan - 2019

Developments in International Arbitration, Construction & Projects in 2018
As Singapore continues to strengthen its position as a regional hub for dispute resolution and infrastructure, the legal framework in these areas is also under constant development to support its growing capabilities. 2018 saw many advancements in the areas of International Arbitration, Construction & Projects. Of the cases that went before the Singapore courts, Rajah & Tann Singapore LLP had the opportunity to be involved in a number of significant decisions. In this Update, we look at some of the noteworthy developments from 2018.
30 Jan 2019 | Singapore

SingHealth and IHiS case: PDPC Decision Notes Breaches of the Protection Obligation in the Healthcare Sector
On 14 January 2019, the Personal Data Protection Commission issued its {start}decision{end} in the case concerning the largest breach of personal data in Singapore. In Re Singapore Health Services Pte Ltd & Ors [2019] SGPDPC 3, the Commissioner for Personal Data Protection (“Commissioner”) ruled that Singapore Health Services Pte Ltd (“SingHealth”) and Integrated Health Information Systems Pte Ltd (“IHiS”) failed to protect the personal data of individuals, in violation of section 24 of the Personal Data Protection Act (“PDPA”). Section 24 of the PDPA mandates an organisation to protect the personal data in its possession or under its control by making reasonable security arrangements to prevent unauthorised access, collection, use, disclosure, copying, modification, disposal or similar risks (“Protection Obligation”).

Given the severity of the lapses, the Commissioner imposed a financial penalty of $250,000 and $750,000 on SingHealth and IHiS, respectively, the two highest fines to date imposed on errant organisations for failure to comply with the PDPA. The maximum financial penalty under the PDPA is $1 million.
30 Jan 2019 | Singapore

Recent Legal Developments in Vietnam

This update sets out the recent legal developments in Vietnam on corporate bond issues and electronic transactions in financial activities.

30 Jan 2019 | Vietnam

Indonesia Introduces Regulation On Equity Crowdfunding

The Financial Services Authority (Otoritas Jasa Keuangan or "OJK") closed 2018 by issuing the long-awaited equity crowdfunding regulation, Regulation No. 37/POJK.34/2018 ("POJK 37"), which became effective on 31 December 2018. Under POJK, OJK regulates the direct offering of shares to investors ("Equity Crowdfunding") through an open electronic system platform ("Platform"). The objective of the regulation is to boost economic growth in Indonesia by providing access to start-up companies and small medium enterprises in raising funding electronically for the development of their business.

29 Jan 2019 | Indonesia

Developments in Restructuring & Insolvency in 2018
As part of the drive towards strengthening Singapore's position as an international centre for debt restructuring, finance and business, the legislative framework in this area has gone through substantial updating. The Singapore courts have also continued to develop the law on Restructuring & Insolvency. In 2018, the legal advancements in Restructuring & Insolvency have been swift and significant. In this Update, we look at some of the noteworthy developments from the past year.
25 Jan 2019 | Singapore

TMT Update: Regulation of Digital Currencies and Digital Tokens in Malaysia - Implementation of the Digital Assets Prescription Order 2019

 

Further to our recent update regarding the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 (the “Order”), we wish to bring to your attention a recent Media Statement made by the Securities Commission Malaysia (“SC”) on 17 January 2019. This update provides a summary of the media statement made by the SC.

23 Jan 2019 | Malaysia

TMT Update: Bank Negara Malaysia Issues Policy Document on Publishing Open Data Using Open API

In this Technology, Media and Telecommunications Update, we wish to bring to your attention the Bank Negara Malaysia (“BNM”) Policy Document on Publishing Open Data Using Open API (Application Programming Interface) (the “Policy Document”), which was issued and came into effect on 2 January 2019, following a period for submission of feedback to the Exposure Draft on Publishing Open Data Using Open API (the “Exposure Draft”) published by BNM on 5 September 2018.

This update provides a summary of the Policy Document, the recommendations given by BNM in respect of using Open API, as well as a brief analysis of the key changes in the Policy Document compared to the Exposure Draft.

22 Jan 2019 | Malaysia

IDX Issues New Listing Regulation

On 26 December 2018, the Indonesia Stock Exchange ("IDX") issued a new IDX listing regulation under the Decree of the Board of Directors of PT Bursa Efek Indonesia No. Kep-00183/BEI/12-2018 (the "New Listing Regulation"), which replaced the previous Decree of the Board of Directors of PT Bursa Efek Indonesia No. Kep-00001/BEI/01-2014 regarding Securities Listing Regulation No. I-A on General Provisions for the Listing of Equity Securities at IDX.

The New Listing Regulation, which became effective on 27 December 2018, adjusted and amended certain listing provisions to be in line with the regulations of the Financial Services Authority (Otoritas Jasa Keuangan or "OJK”). Furthermore, through the New Listing Regulation, the Indonesian government also hoped to encourage more companies to list its shares on the IDX.

15 Jan 2019 | Indonesia

Court of Appeal Reverses High Court Ruling That Courts Have No Jurisdiction To Revoke Patents
In 2017, the Honourable Justice George Wei ruled in a landmark decision that the High Court in Singapore had no original jurisdiction to hear patent revocation proceedings, even if such proceedings were brought by way of a counterclaim in infringement proceedings (Sun Electric Pte Ltd v Sunseap Group Pte Ltd and ors [2017] SGHC 232). This decision represented a major departure from existing case law and legal practice. However, in Sunseap Group Pte Ltd and ors v Sun Electric Pte Ltd [2019] SGCA 4, the Court of Appeal reversed the High Court's decision and found in favour of the Defendants. In doing so, the Court of Appeal also laid down some important principles in relation to how a patent revocation counterclaim should be pleaded, and drew a distinction between applications to revoke a patent by way of a counterclaim to infringement proceedings, and by way of standalone pre-emptive suits. Rajah & Tann Singapore LLP's Lau Kok Keng, Nicholas Lauw and Leow Jiamin acted for the successful Defendants/Appellants in the appeal.
11 Jan 2019 | Singapore

Ministry of Labour and Vocational Training’s Strict Adherence to the Enforcement of Seniority Payment

On 28 December 2018, the Ministry of Labour and Vocational Training issued an announcement to reiterate the (Undetermined Contract) employees’ rights to receive seniority payment twice throughout the year: one in June, and another in December.

10 Jan 2019 | Cambodia

TMT Update: BNM Issues Policy Document on Outsourcing

The Central Bank of Malaysia, or Bank Negara Malaysia (“BNM”) recently published on its official website the Policy Document on Outsourcing (“Policy Document”). The Policy Document, which officially came into force on 1 January 2019, applies to all financial institutions as defined in the Policy Document. It supersedes all previous guidelines and policy documents on outsourcing issued by BNM, and provides for a number of changes from the draft proposals by BNM in the Exposure Draft on Outsourcing (the “Exposure Draft”). This update provides you with a summary of the key changes effected by the Policy Document as compared to the Exposure Draft, including changes in the regulatory process for outsourcing arrangements, and details on the new or additional obligations to be observed by financial institutions, together with a listing of key dates for compliance with some of these obligations.

09 Jan 2019 | Malaysia

Here Comes the Sun: Development of the Solar Energy Industry in Malaysia

The government of Malaysia has recently set an ambitious goal for 20% of the country’s electricity to be generated from renewable sources by 2030, an increase from the previous 2%. To that end, several programmes are expected to be rolled out in order to achieve that target. This update examines the impact that those programmes may have on the development of the solar energy industry in Malaysia moving forward.

02 Jan 2019 | Malaysia