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New Crypto Currency Laws designed to help Thailand Match Global Digital Trend

BANGKOK, Apr 19 (NNT) - Thailand is hoping that new crypto currency laws will help it catch up with the fast-paced global digital trend.

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Former Directors and Officers of a closed Rural Bank in Camarines Sur convicted in Criminal Cases

Evelyn Cueto Ramirez, a former director and principal officer of the closed Rural Bank of Milaor (Camarines Sur), Inc. (RB Milaor) was convicted by the Municipal Circuit Trial Court (MCTC) of Camaligan-Gainza-Milaor, Camarines Sur, in Criminal Case Nos. 2638 and 2639, for Falsification of Commercial Documents, defined and penalized under Article 17 ...
Date: 16 April 2018; Type: Legal News; Source: Central Bank

Foreign Insurers can't choose Alternative Initiatives for Divestment

KUALA LUMPUR, Apr 15 (Bernama) - Foreign insurers, who have repatriated about RM16.5 billion between 2008 and 2017 in the form of dividends but didn't contribute as much as expected for the development of the domestic industry, can't choose alternative initiatives with their promise to divest stake, said Bank Negara Malaysia (BNM).
Date: 15 April 2018; Type: Legal News; Source: Bernama

House acts to raise 2019 Mindanao Budget

A Technical Working Group (TWG) of the House Committee on Mindanao Affairs, chaired by Rep. Maximo Rodriguez (2nd District, Cagayan de Oro), has started discussing the proposal to raise the 2019 budget for Mindanao, with the goal to uplift the socio-economic conditions in the region, especially in its poor provinces.
Date: 11 April 2018; Type: Legal News; Source: House of Representatives

Cabinet acknowledges Budget Expenditure for Fiscal 2019

BANGKOK, Apr 11 (NNT) - The Cabinet has acknowledged budget expenditure in the next fiscal year before it goes to public consultation and the legislature.
Date: 11 April 2018; Type: Legal News; Source: National News Bureau of Thailand

BNM to introduce Minimum Standards for Mobile Payments

KUALA LUMPUR, Apr 11 (Bernama) - Bank Negara Malaysia (BNM) will introduce minimum standards for the nascent but growing area of mobile payments in the coming months to enhance consumer protection.
Date: 11 April 2018; Type: Legal News; Source: Bernama

Consultation Paper on Proposed Regulatory Capital Treatment of Banks' Holdings of Total Loss-Absorbing Capacity (TLAC) Liabilities under Mas Notice 637

This consultation paper proposes to amend the Risk-Based Capital Adequacy Requirements for Banks incorporated in Singapore (the Notice) to implement the relevant requirements under the final standard issued by the Basel Committee on Banking Supervision. The proposed amendments are intended to take effect from 1 January 2019.
Date: 09 April 2018; Type: Consultation Paper; Source: Monetary Authority of Singapore

Bursa Malaysia Securities publicly reprimands Seacera Group Berhad for Breach of the Main Market Listing Requirements

KUALA LUMPUR, Apr 4  - Bursa Malaysia Securities Berhad (635998-W) (Bursa Malaysia Securities) has publicly reprimanded Seacera Group Berhad (SEACERA) in respect of the company’s fourth quarterly report for the financial year ended 31 December 2016 (QR Dec 2016) announced on 28 February 2017 which was in contravention of paragraph 9.16(1 ...
Date: 04 April 2018; Type: Legal News; Source: Bursa Malaysia

Capital Markets and Services (Fees) (Amendment) Regulations 2018

These Regulations come into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 87 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Prescription for Excluded Offers and Invitations and Excluded Issues for Seasoned Bonds) Order 2018

This Order comes into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 88 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Amendment of Schedules 6 and 7) Order 2018

This Order comes into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 89 of 2018; Source: AGC Federal Gazette

CIMB Bank Berhad v Sebang Gemilang Sdn Bhd and Another

Date: 08 February 2018; Court: Federal Court; Citation: Civil Appeal No. 02 (f)-2-01/2015 (C); Source: Federal Court Registry

List of Labuan Banks and Labuan Investment Banks

This is to notify the list of Labuan banks and Labuan investment banks whose licences are valid as at 31 December 2017.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 150 of 2018; Source: AGC Federal Gazette

List of Takaful Licensees

This is to notify the list of takaful licensees whose licences are valid as at 31 December 2017.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 153 of 2018; Source: AGC Federal Gazette

Sabarudin Bin Othman and Another v Malayan Banking Berhad and 2 Other Appeals

Date: 26 March 2018; Court: Court of Appeal; Citation: Civil Appeal Nos. M-02(NCVC)(W)-2151-11/2016, 2152-11/2016 & 2193-11/2016; Source: Federal Court Registry

President issues Regulation to eradicate Money Laundering, Terrorism

Jakarta, Mar 14 (ANTARA News) - President Joko Widodo has issued a Presidential Regulation No.13 Year 2018 on the Prevention and Eradication of Money Laundering and Terrorism, the information center of the Cabinet Secret ...

Government not to propose Budget Revision for Subsidy Change Bank Indonesia studies Use of Blockchain Central Bank warns Banks against violating LTV Regulation more

Beware of Illegal Transactions by Fake Banks, Public warned

The Bank of the Lao PDR has warned members of the public to beware of unauthorised bank accounts after learning that some people have been tricked into making transactions with fake banks.

New Service Fee Regulation to boost SME, Selected Sectors License issuance for new Financial Institutions suspended more

Foreign Insurers can't choose Alternative Initiatives for Divestment

KUALA LUMPUR, Apr 15 (Bernama) - Foreign insurers, who have repatriated about RM16.5 billion between 2008 and 2017 in the form of dividends but didn't contribute as much as expected for the development of the domestic in ...

BNM to introduce Minimum Standards for Mobile Payments Bursa Malaysia Securities publicly reprimands Seacera Group Berhad for Breach of the Main Market Listing Requirements Capital Markets and Services (Fees) (Amendment) Regulations 2018 more

Government seeks Approval to accept Japanese, French Loans

The Union government yesterday sought Parliamentary approval to accept French and Japanese loans to implement projects in the agriculture and healthcare sectors as well as for the upgrading of the Yangon-Mandalay Railway ...

Interim Budget approved in Parliament after 1.2 per cent Cut Interest Rates to remain unchanged until 2020: Central Bank MPs prevail over President on Audit Bill more

Former Directors and Officers of a closed Rural Bank in Camarines Sur convicted in Criminal Cases

Evelyn Cueto Ramirez, a former director and principal officer of the closed Rural Bank of Milaor (Camarines Sur), Inc. (RB Milaor) was convicted by the Municipal Circuit Trial Court (MCTC) of Camaligan-Gainza-Milaor, Cam ...

House acts to raise 2019 Mindanao Budget BSP allows Banks to extend ops for Tax Payment Collections Watchdog wants Participatory Governance in Budget Reform Bill more

INDUSTRY UPDATES

CCCS clears Proposed Merger between Essilor and Luxottica

The Competition and Consumer Commission of Singapore (“CCCS”) has issued a clearance decision on the proposed merger between Essilor International (Compagnie Generale d’Optique) S.A (“Essilor”) and Luxottica Group, S.p.A. (“Luxottica”) (collectively “Parties”). CCCS has concluded that the merger, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B).

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INDUSTRY UPDATES

House and Senate successfully hold “Sports Dual Meet 2018”

The House of Representatives and the Senate on Thursday successfully held their second congressional sports invitational tournament dubbed “Sports Dual Meet 2018” at the House Sports Complex in Batasan Hills, Quezon City.

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INDUSTRY UPDATES

President Joko Widodo to attend ASEAN Summit in Singapore

Jakarta Apr 20 (ANTARA News) - President Joko Widodo will attend the the 32nd Association of Southeast Asian Nations (ASEAN) Summit in Singapore on April 27-28, 2018.

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INDUSTRY UPDATES

Police probes Facebook over Data Privacy Violation

Jakarta, Apr 19 (ANTARA News) - The National Police is currently investigating third-party applications on Facebook that have allegedly violated the data privacy of users, an official stated here on Thursday.

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INDUSTRY UPDATES

Lawyer claims Trial to CBT of more than RM100,000

GEORGE TOWN, Apr 20 (Bernama) - A lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving more than RM100,000.

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INDUSTRY UPDATES

IRBM confirms having issued Letters to International Schools

KUALA LUMPUR, Apr 19 (Bernama) - The Inland Revenue Board of Malaysia (IRBM) today confirmed that it had recently issued letters to the management of several international schools, here.

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INDUSTRY UPDATES

Role of In-house Lawyers must evolve, says Judge

In an event that unveiled a study of local general counsel by the Singapore Corporate Counsel Association and global law firm CMS, Judge of Appeal Steven Chong has given in-house counsel several pointers on what they need to do in their evolving role.

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INDUSTRY UPDATES

Passenger-Facing Cameras: encrypt Recordings and restrict Access

The new rule that allows the cab and private-hire car drivers to install infacing cameras should not threaten the passenger privacy according to customer feedback.

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INDUSTRY UPDATES

Cabinet confirms Appointment of New Permanent Secretary of Finance

BANGKOK, Apr 18 (NNT) - The Cabinet has officially confirmed the appointment of the new Permanent Secretary of the Finance Ministry.

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INDUSTRY UPDATES

Thailand preparing to host 12th ASEAN Skills Competition

BANGKOK, Apr 18 (NNT) - Thailand is making preparations to host the 12th ASEAN Skills Competition, the objective of which is to urge adolescents and workers in the region to be enthusiastic about developing their skills in line with new technology.

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INDUSTRY UPDATES

Government pardons nearly 8500 Prisoners, including Student Activists’ Killer

The Presidential Office announced on Tuesday that 8541 prisoners, including 51 foreigners, were released from prisons across the country.

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INDUSTRY UPDATES

Tax Exemption on Mega Projects given since 1980s - Customs DG

PUTRAJAYA, Apr 19 (Bernama) - Tax exemptions have been awarded to several large projects owned by the Government since the 1980s, and the issue of waiving the Goods and Services Tax (GST) for procurement of materials and services related to the East Coast Rail Link (ECRL) project should not be played up, said Customs Director-General Datuk Seri Subromaniam Tholasy.

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INDUSTRY UPDATES

GST Compliance good, says Customs Department

KUALA LUMPUR, Apr 18 (Bernama) - The Goods and Services Tax (GST) compliance in Malaysia is good even though there is still a need to continue to promote tax education.

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INDUSTRY UPDATES

Illegal OFWs in Kuwait have until Thursday to avail of Amnesty Program

KUWAIT, Apr 18 (PNA) - Philippine Ambassador to Kuwait Renato Villa has announced that the Kuwaiti Department of Immigration under the Ministry of Interior has officially declared Thursday (April 19) as the last day for Filipinos to file their application for the amnesty program set to expire on April 22.

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INDUSTRY UPDATES

Indonesia, Vietnam discuss Cooperation in Fisheries and Maritime Affairs

Jakarta Apr 18 (ANTARA News) - Indonesian Foreign Minister Retno Marsudi discussed cooperation in maritime affairs and fisheries with her Vietnamese counterpart, Pham Bihn Mihn, during the third joint commission meeting between the two countries.

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