The Philippine Government has issued a slew of resolutions and circulars as part of its response to the COVID 19 pandemic and unsurprisingly, a number of legal and practical issues have beset businesses and persons under the Luzon-wide enhanced community quarantine (ECQ)1. Like the rest of the world, the country is bracing itself for a new normal – in the way enterprises are run, services are rendered, everyday tasks are undertaken ...
A case note by Abhilaash Subramaniam Introduction In the recent case of SWW v Ketua Pengarah Hasil Dalam Negeri, the High Court of Malaya granted the taxpayer leave to apply for judicial review, a stay of proceedings pending the disposal of the taxpayer’s application for judicial review and subsequently allowed the taxpayer’s judicial review application on the merits, ordering a prohibition on all collection and enforcement action relating to disputed taxes and assessments
Background Overseas investors’ participation in the China Inter-bank Bond Market (CIBM) has been steadily increasing in recent years due to the implementation of various opening-up regimes that allow access to the CIBM, such as the CIBM Direct, Bond Connect and QFI regimes, and the inclusion of China bonds in major international indices. At the end of 2021, overseas investors held RMB bonds of RMB 4 trillion, accounting for about 3.5% of the total market size of the CIBM ...
IN THIS ARTICLE, GOH HUI WEN LOOKS AT GREEN AND SUSTAINABLE INVESTMENTS IN THE ASEAN REGION. The investment scene in the ASEAN region has been undergoing a transformational change in recent years as it pivots towards a green and sustainable path of development[1]. Demand for sustainable investment opportunities in ASEAN is set to bloom within the next two decades, with the investment opportunity estimated to be worth a whopping USD3 trillion from 2016 to 2030[2] ...
Covid-19 is upending capitalism as we know it. Amid the pandemic, how can businesses rewrite their rule books so as to emerge stronger? Americans have allegedly outbid the French for masks “right on the tarmac” just as the goods were to be flown off to their destination. From Amazon to Rakuten to Carousell, traders exploited fears by price-gouging on masks and hand sanitisers ...
Activists and government leaders are sounding the death knell for our planet unless something is done about climate change. But while sustainability is important, sustainability reporting may not be the answer. In a headline-hogging speech at the UN last month, 16-year-old environmental activist Greta Thunberg berated politicians and business people for doing too little to arrest climate change, ruining the globe for future generations. High-profile scandals back up her claim ...
Population growth has become the be-all and end-all for economic prosperity, but how on Earth can we cope with the extra billions of people? While “leafing” – or should I instead say “scrolling” in today’s need to sound tech savvy – through the news websites, the two subjects seemed to have captured the media’s attention: immigration and plastic ...
The Australian Food and Grocery Council (AFGC) recently released its Sustainability Commitment report for 2010-11 (Report). The Report sets out the AFCG's key objectives and efficiency targets, described as its 'Sustainability Commitment', for improving sustainability in the food & beverage and grocery industry ...
On September 15, 2021, the one-year-long suspension of the Philippine Competition Commission’s (PCC) power to review mergers and acquisitions motu proprio under Republic Act No. 11494 (the Bayanihan to Recover as One Act, or the Bayanihan 2) ends. This means that starting September 16, 2021, the PCC may again review mergers and acquisitions motu proprio ...
Supreme Court Ruling Sets the Foundation for GST on Secondment of Employees AUTHOR: Reena Asthana Khair Senior Partner and Head International Trade & Indirect Taxation Kochhar & Co. EMAIL: [email protected] Japanese Multinational companies often share their talent pool across borders and jurisdictions by secondment of Japanese nationals ...
This is a briefing on Supreme Court Administrative Matter No. 20-07-04-SC (2020 Interim Rules on Remote Notarization of Paper Documents) dated July 14, 20201 (“RON Rules”), a COVID-19 related issuance. In general, signatories of documents to be notarized have to appear before the notary generally at the latter’s place of business ...
The Supreme Court has issued Supreme Court Administrative Matter No. 20-12-01-SC (Re: Proposed Guidelines on the Conduct of Videoconferencing) dated December 9, 20201 (Court Videoconferencing Guidelines) to ensure that hearings via videoconferencing are conducted in an orderly manner and that the constitutional rights of the accused are protected ...
The Supreme Court has struck down the core provisions of the Trade Minister Regulation which allowed producers to import finished goods (No. 39/M-DAG/PER/10/2010). The regulation will cease to have legal effect as of 8 May 2012. The Ministry of Trade is reported to be currently considering an amendment which aims to accommodate the interests of both producers and traders but may have to draw it more narrowly than the original version. Decision No ...
Under article 253(d) of the National Internal Revenue Code (NIRC), when an association, partnership or corporation commits an act or omission that violates the Tax Code, the penalty "shall be imposed on the partner, president, general manager, branch manager, treasurer, officer-in-charge, and the employees responsible for the violation". This means that any of the persons enumerated may be criminally prosecuted for the corporation or partnership's criminal act or omission under the code ...
As the Novel Coronavirus (COVID-19) continues to spread across the world, we would like to reassure you that DFDL takes the needs and well-being of our clients, our people and local communities seriously. We have enacted plans across our offices to deliver uninterrupted service to our clients and we are monitoring the situation on a daily basis. All members of DFDL remain ready to serve client needs and DFDL offices remain open, when allowed by local authorities ...
Background: Article 10 of the Convention on Supplementary Compensation for Nuclear Damage (“CSC”) (which India ratified in 2016) allows ratifying states, through domestic legislation, to provide that in the even of a nuclear incident, the operator shall have a right of recourse against the supplier only if: (a) it is expressly provided for by a written contract; or (b) if the nuclear incident results from an act or omission done with intent to cause damage, against the indiv
In our July 2006 legal update, we reported on a ground-breaking agreement (Agreement) signed by the Hong Kong and Mainland China Governments, under which they agreed to recognise and enforce judgments made in each others courts. Legislative changes are now underway in Hong Kong in order to implement the Agreement ...
On 14 July 2006, the Hong Kong and Mainland China Governments signed a ground-breaking agreement, rather lengthily entitled "An Arrangement on Reciprocal Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region pursuant to Choice of Court Agreements between Parties Concerned" (Arrangement), under which they agreed to recognise and enforce judgments made in each others courts ...
The Asian hedge fund industry is comparatively new and small. However, the industry has witnessed phenomenal growth since 2002. The purpose of this book is to assist start-up managers to establish a hedge fund business. To date, a majority of the newly-established funds in Asia have been set up by fund managers or proprietary traders setting up their own business, after a successful career at one of the larger investment houses ...
Section 631 of the Corporations Act provides that, once a bidder publicly announces a takeover proposal, offers under a takeover bid must be made by that bidder within two months unless ASIC grants relief ...
Stefanie Yuen Thio’s journey has been shaped by a modest Asian upbringing that instilled a strong sense of responsibility to contribute to society. “I want to make a difference, because I believe I have been tremendously blessed – having grown up in Singapore, having had the opportunities I have had, being able to apply my God-given skills. It’s my obligation to use all that experience and ability to do some good ...
China Business Law Journal Published March 9, 2023 With the growing importance of environmental, social and corporate governance (ESG) and the high level of globalisation in capital and supply chains, the scope of ESG regulation is no longer confined to listed companies, the traditional targets ...
The Premier of the State Council Li Keqiang chaired an executive meeting on 7 April 2020 which decided to adopt a series of tax related measures to cope with the negative impact caused by the COVID-19 pandemic and to stabilise the domestic economic environment. The measures mainly include the following: 1 ...
Following certain onsite inspections, the Hong Kong Securities and Futures Commission (SFC) issued a Circular in October 2008 setting out various standards of conduct and control procedures that the SFC views as being "generally expected" of a Hong Kong-licensed hedge fund manager (HKHFM) ...
