Background On 23 September 2020, in view of the relatively low number of COVID-19 community cases, the Ministry of Health issued an advisory on “Resuming More Activities Safely” (“MOH Advisory”). The MOH Advisory provides, amongst others, that work-related events within workplace premises that are business-oriented (including general meetings) will be allowed to resume, for up […]
The COVID-19 pandemic has severely impacted the global economy. Many enterprises, especially smaller and micro businesses, have been adversely affected and continue to face unprecedented challenges. The assumptions and bases upon which businesses structured their affairs and obligations have fundamentally changed. Despite the swift introduction of multi-faceted relief measures to provide assistance to businesses, contractual […]
On 2 November 2020, the Payment Services (Amendment) Bill (the “Bill”) was introduced to amend the current scope of the Payment Services Act No. 2 of 2019 (the “PS Act”). According to the explanatory brief issued by the Monetary Authority of Singapore (“MAS”), the Bill seeks to introduce legislative amendments to the PS Act to align […]
As part of global efforts on interest rate benchmark reforms, the UK Financial Conduct Authority (“FCA”) announced in July 2017 that the London Interbank Offered Rate (“LIBOR”) will not compel banks to submit rates used to calculate the LIBOR by end-2021. Consequently, the Singapore Dollar Swap Offered Rate (“SOR”), which utilises the US Dollar LIBOR […]
The Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (“Advisory”) was updated by tripartite partners (comprising the Ministry of Manpower (“MOM”), the National Trade Union Congress and the Singapore National Employers Federation) partners on 17 October 2020. The Advisory, which provided further guidance on the conduct of retrenchment exercises in Singapore was last updated […]
As part of global efforts on interest rate benchmark reforms, the UK Financial Conduct Authority (“FCA”) announced in July 2017 that the London Interbank Offered Rate (“LIBOR”) will not compel banks to submit rates used to calculate the LIBOR by end-2021. Consequently, the Singapore Dollar Swap Offered Rate (“SOR”), which utilises the US Dollar LIBOR […]
CNPLaw LLP (CNP) advised Singapore-based technology services group, ADERA AI on its joint venture with recently delisted food and beverage (F&B) player, BreadTalk Group. The joint venture provides significant opportunities for ADERA AI to introduce and deploy its fintech and digital solutions to BreadTalk Group’s established F&B businesses. It comes amid the Covid-19 pandemic where technology has become an essential tool […]
The Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (“Advisory“) was updated by tripartite partners (comprising the Ministry of Manpower (“MOM“), the National Trade Union Congress and the Singapore National Employers Federation) partners on 17 October 2020. The Advisory, which provided further guidance on the conduct of retrenchment exercises in Singapore was last updated […]
As an expansion of the Tech@SG programme launched by Singapore’s Economic Development Board (EDB) in 2019, the EDB has announced the launch of a new work pass in Singapore – the Tech.Pass. The Tech.Pass, which is administered by the EDB and supported by the Ministry of Manpower, is targeted at top-tier foreign professionals and experts […]
CNPLaw LLP (CNP) advised Singapore-based technology services group, ADERA AI on its joint venture with recently delisted food and beverage (F&B) player, BreadTalk Group. The joint venture provides significant opportunities for ADERA AI to introduce and deploy its fintech and digital solutions to BreadTalk Group’s established F&B businesses. It comes amid the Covid-19 pandemic where technology has become an essential tool […]
A. Introduction On 23 September 2020, the Ministry of Manpower (“MOM”) updated its advisory on “Requirements for Safe Management Measures at the workplace” (the “Safe Management Measures”), which was first jointly introduced by MOM, National Trades Union Congress and the Singapore National Employers Federation on 9 May 2020. The Safe Management Measures were further updated […]
CNPLaw LLP (“CNP”) advised a selling shareholder on the divestment of his entire majority shareholding in a Singapore company (in the business of manufacturing and distributing wooden pallets, crates, solder and packaging products) to the minority shareholder. The client shared the following comment about the team, “I would very much like to convey my many […]