Corporate Law

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Bill amending Corporation Code hurdles Second Reading at House

MANILA, Oct 15 (PNA) - A bill seeking to amend the 38-year-old Corporation Code of the Philippines has hurdled second reading at the House of Representatives.

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Ng Chong Wee v Ng Chong Geng & Sons Sdn Bhd

Corporate law – Shares – Jurisprudence relating to transmission and transfer of shares

Date: 24 July 2018; Court: Court of Appeal; Citation: [2018] MYCA 221; Source: Federal Court Registry

Low Boon Eng and 2 Others v Teo Kiong Huat and 3 Others, and Another Appeal

Corporate law – Shareholding in a company – Purchase of shares – Intention of parties behind the purchase of shares

Date: 03 July 2018; Court: Court of Appeal; Citation: [2018] MYCA 228; Source: Federal Court Registry

Re Swiber Holdings Ltd

Companies - Receiver and manager - Judicial management order

Date: 01 October 2018; Court: High Court; Citation: [2018] SGHC 211; Source: Singapore Law Watch

Hyflux Case cited to show Benefits of New Insolvency, Restructuring Law

Senior Minister of State for Law Edwin Tong cited Hyflux as an example that could have benefited from the omnibus Bill that consolidates personal and corporate insolvency and debt restructuring laws into a single piece of legislation.
Date: 02 October 2018; Type: Legal News; Source: Singapore Law Watch

Companies (Amendment) Act 2018 (Commencement) Notification 2018

This is to notify that the Companies (Amendment) Act 2018 comes into operation on 1 October 2018.
Date: 28 September 2018; Type: Federal Subsidiary Legislation; Citation: No. S 606; Source: Singapore Statutes Online

Mandatory for Companies to submit Reports via MBRS starting November

KUALA LUMPUR, Sept 27 (Bernama) - Malaysian companies must submit their annual reports, unaudited annual financial statements and Certificate for Exempt Private Company (EPC) via the Malaysian Business Reporting System (MBRS) digital platform starting November. Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen said the manda ...
Date: 27 September 2018; Type: Legal News; Source: Bernama

Revised Corporate Governance Code principle-based

The Revised Code for Corporate Governance issued by the Monetary Authority of Singapore for companies listed on the Singapore Exchange will apply to annual reports issued for financial years commencing Jan 1, 2019.
Date: 25 September 2018; Type: Legal News; Source: Singapore Law Watch

Lim Chiew v Lee Chao Yong and Another, and Another Appeal

Corporate law – Winding up – Proof of debt – Whether the liquidator has rightfully exercised his discretion to admit the proof of debt – Whether the liquidator’s decision accepting the proof of debt unreasonable or absurd

Litigation & court procedure – Locus standi/ Laches – Res judicata/ est ...

Date: 30 July 2018; Court: Court of Appeal; Citation: [2018] MYCA 263; Source: Federal Court Registry

Mukherjee Amitava v DyStar Global Holdings (Singapore) Pte Ltd and Others

Companies - Directors - Section 199 of the Companies Act - Director’s right to inspect company’s records

Date: 06 September 2018; Court: Court of Appeal; Citation: [2018] SGCA 57; Source: Singapore Law Watch

Court orders winding-up of Stratech, appoints Liquidators from BDO

The court sanction came after Stratech failed to garner enough support from its creditors on proposed schemes of arrangement.
Date: 21 September 2018; Type: Legal News; Source: Singapore Law Watch

Cheo Ming Shen v Tiah Ewe Tiam

Contract - Breach

Date: 14 September 2018; Court: High Court; Citation: [2018] SGHC 199; Source: Singapore Law Watch

Co-operative Societies (Assumption of Control) (Reappointment) (No. 2) Order 2018

The Order is to reappoint Zainudin bin Mohamed to take charge and manage the day to day affairs of the Koperasi Desa Lestari Kampung Seterpa Kota Bharu Berhad with effect from 30 June 2018 to 29 June 2019.
Date: 18 September 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 237 of 2018; Source: AGC Federal Gazette

Justice Ministry holds Meeting on Reform of Asian Bankruptcy Laws

BANGKOK, Sept 17 (NNT) - Thailand's Ministry of Justice has held a meeting on reforming bankruptcy laws in Asia seeking to foster exchanges and enhancement of the work of those dealing with bankruptcy both domestically and abroad.
Date: 17 September 2018; Type: Legal News; Source: National News Bureau of Thailand

PT Bank Rakyat Indonesia (Persero) TBK v PT Perusahaan Hotel dan Pension Panghegar Disingkat PT Hotel Panghegar (Dalam Pailit) DKK

Date: 28 June 2018; Court: Supreme Court of Indonesia; Citation: SC No. 45 PK/Pdt.Sus-Pailit/2018; Source: Supreme Court of Indonesia

Company Admin Obligations to be simplified under the Law

When the Myanmar Companies Law is enforced come August 1, firms will no longer need to submit physical copies of original documents to the authorities as a digital online system will be used going forward,” said U ...

All Companies need to re-register starting from August 1 Listing Interest lackluster despite upcoming Law Draft Regulations of Companies Law released, go into effect in August more

Justice Ministry holds Meeting on Reform of Asian Bankruptcy Laws

BANGKOK, Sept 17 (NNT) - Thailand's Ministry of Justice has held a meeting on reforming bankruptcy laws in Asia seeking to foster exchanges and enhancement of the work of those dealing with bankruptcy both domestically a ...

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INDUSTRY UPDATES

SC allows Media Coverage of de Lima Drug Case Trials

MANILA, Oct 17 (PNA) - The Supreme Court (SC) allowed news coverage of Senator Leila de Lima’s trials for alleged drug trading activities before the Muntinlupa City Regional Trial Court (RTC).

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INDUSTRY UPDATES

House supports Placement of Migrant Workers through One Channel

Jakarta, Oct 16 (ANTARA News) - Chairman of the House of Representatives` (DPR`s) Commission IX Dede Yusuf supported the placement of Indonesian migrant workers through the One Channel Placement System (SPSK) agreed upon by Indonesia and Saudi Arabia.

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INDUSTRY UPDATES

Industry 4.0 to put Indonesia among Top 10 Economies

Jakarta, Oct 17 (ANTARA News) - The fourth industrial revolution, also known as industry 4.0, is expected to make Indonesia one of the top 10 economies in the world in 2030, Industry Minister Airlangga Hartarto said.

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INDUSTRY UPDATES

Government encourages SMEs to go Digital

Jakarta, Oct 16 (ANTARA News) - The government encourages national small and medium enterprises or SMEs to take advantage of the digitalization era by using online networks to expand their businesses.

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INDUSTRY UPDATES

WIPO Director General Conferred the Order of Sikatuna

World Intellectual Property Organisation (WIPO) Director General Dr. Francis Gurry has received the highest Presidential honour of diplomatic merit in recognition of his extraordinary efforts to sustain and strengthen WIPO’s relations with the Philippine government, through the Intellectual Property Office of the Philippines (IPOPHL).

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PH Ambassador Promotes ASEAN Trade, Tourism in Spain

MADRID, Oct 16 (DFA) - To raise awareness about ASEAN and promote ASEAN trade and tourism in Spain, Philippine Ambassador to Spain Philippe J. Lhuillier and the other ASEAN Ambassadors in Madrid paid a courtesy call on the Spanish Minister for Industry, Trade, and Tourism Maria Reyes Maroto Illera.

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INDUSTRY UPDATES

BOC, PCG Ink MOA for Strengthened Joint Anti-Smuggling Operations

The chiefs of the Bureau of Customs (BOC) and the Philippine Coast (PCG), on Monday, October 15 signed a Memorandum of Agreement (MOA) which provides them guidelines in the conduct of anti-smuggling joint operations within the country’s borders.

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INDUSTRY UPDATES

PH Showcases Best Practice on Anti-Poverty

NEW YORK, Oct 12 (DFA) - The Philippines underscored the crucial need to use the Multidimensional Poverty Index (MPI) as an alternative measure of poverty during the High-level side-event on “Using the Multidimensional Poverty Index to guide innovative policies in all its dimensions” held on the sidelines of the 73rd Session of the United Nations (UN) General Assembly High Level Week held at the UN Headquarters in New York on 25 September 2018

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INDUSTRY UPDATES

21 Law Firms vow to create more chances for Young Lawyers

Twenty-one law firms, including Drew & Napier and Tan Rajah & Cheah, have pledged to provide more opportunities for young lawyers to represent their clients in court.

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INDUSTRY UPDATES

Thailand hosts ASEAN Disaster Assessment and Mitigation Training Course

BANGKOK, Oct 16 (NNT) - Thailand is hosting the latest ASEAN training course on regional disaster assessment and mitigation to ensure timely assistance, and enhance the reach and capability of the region’s relief efforts.

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INDUSTRY UPDATES

Del Castillo to head JBC Search for Next CJ

MANILA, Oct 16 (PNA) - Associate Justice Mariano del Castillo will sit at the helm of the Judicial and Bar Council (JBC) in screening aspirants for the vacancy in the Supreme Court (SC) following the retirement of Chief Justice Teresita Leonardo-de Castro, JBC ex-officio member and Justice Secretary Menardo Guevarra said Tuesday.

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INDUSTRY UPDATES

SC reorganizes Three Divisions as Hernando assumes Post

MANILA, Oct 16 (PNA) - The Supreme Court (SC), under Acting Chief Justice Antonio Carpio, has reorganized the membership in its three divisions following the entry of its newest member, Associate Justice Ramon Paul Hernando.

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Non-infra Programs face Cancellation if Oil Excise Tax suspended

MANILA, Oct 15 (PNA) - Some of the Duterte administration's non-infrastructure expenditures scheduled for 2019 face possible cancellation if the implementation the oil excise tax's second tranch is put on hold due to soaring world crude prices, Finance Secretary Carlos Dominguez III said.

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INDUSTRY UPDATES

SIAC signs Memorandum of Understanding with the China International Economic and Trade Arbitration Commission

The Singapore International Arbitration Centre (SIAC) has announced that it has entered into a Memorandum of Understanding (MOU) with the China International Economic and Trade Arbitration Commission (CIETAC) to promote international arbitration as a preferred method of dispute resolution for resolving international disputes.

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INDUSTRY UPDATES

Duterte will ‘definitely’ Order Oil Excise Tax Suspension

MANILA, Oct 15 (PNA) - Malacañang on Monday confirmed that President Rodrigo R. Duterte will soon order the temporary suspension of the second tranche of excise tax on fuel, but has yet to decide whether it will heed a senator's suggestion to suspend it "now or sooner."

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INDUSTRY UPDATES

Indonesia's proposal on Tuna Labeling approved by Asean Ministers

Jakarta, Oct 15 (ANTARA News) - Indonesia`s proposal on the ASEAN Tuna Eco-Labeling (ATEL) policy has been approved and endorsed at the ASEAN Ministers of Agriculture and Forestry (AMAF) meeting in Hanoi, Vietnam.

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INDUSTRY UPDATES

IMF-WB - Indonesia to use OECD Recommendations to set up Policies

Nusa Dua, Bali, Oct 14 (ANTARA News) - Indonesia will use a recommendation on tourism development from the OECD (Organization for Economic Cooperation Development) as one of the references in setting up policies.

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INDUSTRY UPDATES

Deterrent Punishment must be imposed if Death Sentence to be abolished - AADK

BANGI, Oct 15 (Bernama) - The National Anti-Drug Agency (AADK) urged the government to decide on appropriate punishment for drug offences, if the mandatory death sentence to be abolished, says its director-general Datuk Seri Zulkifli Abdullah.

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