A hot trend in the US market, “SPAC fever”, seems to have made its way to Asia. Notably, Grab, the internet giant and Southeast Asia’s dominant super-app, announced in April 2021 that it would go public in the United States (US) by merging with the SPAC, Altimeter Growth Corp. This…
Legal News
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How Legal are Non-Fungible Tokens (NFTs) in Singapore?
Non-Fungible Tokens (NFTs) are digital assets that have been around since 2014 but have boomed in recent years. They are becoming a more popular manner to buy and sell digital artwork. If you are wondering about creating, buying or selling NFTs, or even what the hype over NFTs is all…
RegTech Grant Scheme by MAS
RegTech Grant and Enhanced Digital Acceleration Grant to Spur Tech Adoption in Singapore’s Financial Sector On 30 April 2021, the Monetary Authority of Singapore (MAS) announced a S$42 million grant scheme that aims to accelerate technology adoption in the financial sector, specifically for risk management and regulatory compliance. Regulatory Technology…
Sexual Disorders (Paraphilia): How are Offenders Sentenced?
The spate of voyeurism cases at local universities in recent years has raised considerable public discussion and debate on the rise of offenders suffering from sexual disorders, also known as “paraphilia”. This has even led to a review of the sentencing framework for sexual and hurt offences in Singapore, which…
Appointing a Nominee Director and Shareholder in Singapore
What is the Difference Between a Nominee Director and a Nominee Shareholder? A nominee director is a person who acts as a director of the company on your behalf. On the other hand, a nominee shareholder is someone that “lends his name” to you to act as the registered owner…
New: Code of Conduct for Fair Retail Leases in Singapore
A new code of conduct has been introduced to guide the negotiation of fair retail leases in Singapore. This article will give a brief overview of the code and its implications for retail tenants and landlords. It will cover: What the code of conduct is about Who the code of…
How to Hold AGMs Amid COVID-19 in Singapore
Wondering how you can continue to hold your company’s Annual General Meeting (AGM) during COVID-19? After all, unless exempted, non-listed companies (i.e. companies not listed on the stock exchange) must hold their AGM within 6 months after the end of the company’s Financial Year End (FYE). If your company is…
Using the Re-Align Framework to Renegotiate SME Contracts
What is the Re-Align Framework? SME businesses significantly impacted by COVID-19 may be able to benefit from a new framework that allows them to renegotiate their contracts. Called the Re-Align Framework, parties to selected contracts may use the framework to renegotiate the terms and conditions of these contracts, such as…
Income Tax (Amendment) Bill – Incorporating the Changes Arising From Budget 2020
The Income Tax (Amendment) Bill 2020 (“Bill”) was read the first time on 5 October 2020 and passed in Parliament on 3 November 2020. The Bill covers amendments arising from the Financial Year (“FY”) 2020 Budgets and the Ministerial Statement by the Deputy Prime Minister and Minister for Finance, Mr…
MAS Covid-19 Support – Digital Acceleration Grant (Up to $120,000)
The COVID-19 pandemic has disrupted businesses across all sectors, prompting many businesses, including financial institutions (both licensed and exempted institutions) (“FIs”) and fintech businesses to embrace digital changes in order to weather the storm that is the current pandemic. With the extremely uncertain business landscape, the Monetary Authority of Singapore…
