Thursday, 21 September 2017
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Industry Updates - Singapore

MAS sets up International Advisory Panel for Cyber Security

Singapore, 20 September 2017 - The Monetary Authority of Singapore (MAS) announced today that it has established a Cyber Security Advisory Panel (CSAP), comprising cyber security thought leaders from around the world.

Singapore and China Mediation Centres work together to help Businesses resolve Disputes along Belt and Road

1. The Singapore International Mediation Centre (SIMC) and the Mediation Center of the China Council for the Promotion of International Trade / China Chamber of International Commerce (CCPIT/CCOIC Mediation Center) will work together to support businesses and help them resolve disputes that may arise in cross-border commercial transactions under China’s Belt and Road Initiative (BRI). The two mediation centres signed a Memorandum of Understanding (MOU) today at the International Mediation Summit held in Hangzhou, China.

Veteran Lawyer Leo Fernando dies at 85

He was counted among the "legends" in criminal law in the 70s and 80s.

Five Court Volunteers lauded for Dedication

These volunteers of the Supreme Court, the State Courts and the Family Justice Courts received awards for their outstanding commitment and dedication to pro bono work.

Halimah Yacob is Singapore's Eighth President

SINGAPORE, Sept 14 (Bernama) - Halimah Yacob was sworn in as Singapore's eighth President at the Istana today, marking her first day of a six-year term.

SGX RegCo announces Board Members; Operational Start on 15 September

Singapore Exchange Regulation (SGX RegCo) has appointed Mr Alan Shaw, Ms Jane Diplock AO and Mr Ronny Tan to its board. The company will begin operations on 15 September 2017.

Public Alert on Scam IRAS Email

IRAS would like to alert the public that a scam email titled “Inland Revenue Authority of Singapore-Refund-Online-Confirmation” has been circulating. The email carries a message that the recipients are eligible to receive a tax refund and that they are to click on the link provided in the email to download and fill out the tax refund form.

New Work Pass Card and SGWorkPass Mobile App for easier checking for Work Pass Status

The Ministry of Manpower (MOM) will be introducing a new Work Pass (WP) [1] card with a QR code and a free mobile application called the SGWorkPass [2]. This new app will enable employers, pass holders and any other stakeholders to check the status of work passes with their smartphones.

LawSoc Members vote against Plan to sell Current Premises

The Law Society’s plan to sell its current premises to partially fund a new home was voted down by members.

Tony Tan ends Term as Singapore's 7th President

SINGAPORE, Aug 31 (Bernama) - Singapore's seventh President Dr Tony Tan Keng Yam leaves office today after completing his six-year tenure as the republic's head of state.

Public Consultation on Singapore's 4th And 5th Periodic Report on the United Nations Convention on the Rights of the Child (UNCRC)

The Ministry of Social and Family Development invites the public to provide feedback on the draft 4th and 5th Periodic Report on the United Nations Convention on the Rights of the Child (UNCRC). The consultation documents are hosted on the Government e-consultation portal, REACH from 28 August 2017 to 15 September 2017.

SGX announces Change to Listings Advisory Committee

Singapore Exchange (“SGX”) announced that Mr Lim Chin Hu will cease to be a member of its Listings Advisory Committee (“LAC”) with effect from 20 September 2017. Mr Lim will be standing for election to be appointed as a non-executive and non-independent director of SGX, at SGX’s Eighteenth Annual General Meeting on 21 September 2017.

Senior Lawyers to provide a listening Ear to Juniors

The Law Society of Singapore to roll out a mentorship initiative within the next two months.

SGX Regco needs Backing from Better Enforcement

The Singapore Exchange's new regulatory unit SGX Regco (Singapore Exchange Regulation Pte Ltd) to commence operations in about a month's time.

IPOS, Deloitte to help 100 Firms grow Intellectual Assets and go Global

The Intellectual Property Office of Singapore (IPOS) and Deloitte Southeast Asia Financial Advisory Services have teamed up to help 100 growth-stage enterprises boost their IP strategies and compete globally.

Help Lawyers to cope with Work Stress: CJ Menon

Chief Justice Sundaresh Menon has urged law firms to prioritize the mental health of their lawyers who may be struggling to cope with the volume and pace of their work.

Payments Council sets up Taskforce to develop Common QR Code for Singapore

Singapore, 29 August 2017 - Establishing interoperable electronic payments and developing a common QR code for Singapore were two key topics that the Payments Council discussed at its inaugural meeting on 11 August 2017.

Coming for Lawyers soon: Digital Disruption

Law firms will have to embrace technology to survive digital disruption, says Senior Minister of State for Law and Finance Indranee Rajah call

Industry Updates

Work in all Courts Nationwide suspended Thursday: SC

MANILA - The Supreme Court (SC) announced the suspension of work in all courts nationwide on Thursday, September 21, in connection with President Rodrigo Duterte's declaration of the said date as National Day of Protest.

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Budget 2018: 13,837 Ideas, Proposals from the Public received

KUALA LUMPUR, Sept 20 (Bernama) - Datuk Seri Najib Tun Razak said today that 13,837 ideas and proposals were received through the Budget 2018 'crowdsourcing' campaign carried out for 15 days from Sept 4 to 18.

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Malaysia-Thailand to ink MoU on Security Cooperation

BANGKOK, Sept 20 (Bernama) - There will be closer security cooperation between Malaysia and Thailand with the establishment of a Joint Committee on Security Cooperation, according to a cabinet resolution document released by the Thai government.

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MAS sets up International Advisory Panel for Cyber Security

Singapore, 20 September 2017 - The Monetary Authority of Singapore (MAS) announced today that it has established a Cyber Security Advisory Panel (CSAP), comprising cyber security thought leaders from around the world.

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SC asked to order Refund of Excess SMS Fee to Subscribers

MANILA - The Bayan Muna partylist filed a petition before the Supreme Court (SC) seeking to compel the country's major telecommunication companies to give a refund to their subscribers for overpriced text message rates amounting to more than PHP17.7 billion.

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Policymakers urged to study Proposed Shift to Federal System

MANILA - State think-tank Philippine Institute for Development Studies (PIDS) on Tuesday urged policymakers to undertake a comprehensive study of the proposed shift to a federal form of government which could address uneven developments in provinces and regions.

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BSP to continue Payment, Settlement Operations on September 21

MANILA - The Bangko Sentral ng Pilipinas (BSP ) will continue its payments and settlement operations on Thursday despite Malacanang's suspension of works in government offices and schools nationwide for that day.

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Indonesia, Croatia agree to strengthen Economic Cooperation

Jakarta (ANTARA News) - Indonesia and Croatia have agreed to enhance economic cooperation, the Indonesian Foreign Ministry said in a press statement released on Tuesday.

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Indonesia, Namibia agree to enhance Bilateral Trade Cooperation

Jakarta (ANTARA News) - Indonesias Foreign Affairs Minister Retno L. P. Marsudi has held a bilateral meeting with her Namibian counterpart Netumbo Nandi-Ndiatwah, and the two ministers agreed to intensify cooperation to boost bilateral trade.

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High Taxes, Competition choke Cheroot-Makers

Myanmar's traditional mini cigar, the cheroot, is near extinction as manufacturers struggle with high taxes, high production costs and stiff competition from imported and local cigarettes.

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EPF to boost Investments in Shariah-Compliant Private Equity Funds

KUALA LUMPUR, Sept 19 (Bernama) - The Employees Provident Fund (EPF) is prepared to increase its investments in shariah-compliant private equity (PE) funds, said its Investment Deputy Chief Executive Officer, Datuk Mohamad Nasir Ab Latif.

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BNM seeks More Focused Delivery of Mandates under Malaysian Development Financial Institutions

KUALA LUMPUR, Sept 19 (Bernama) - Bank Negara Malaysia (BNM) is planning to work with the leadership of local financial institutions and other stakeholders in government to address a more focused delivery of mandates under the Malaysian Development Financial Institutions.

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