Singapore – Page 2 – Coronavirus (COVID-19)

April 7, 2020August 31, 2020 by Duane Morris

COVID-19: Bond Buybacks and Liability Management in Asia

As the COVID-19 pandemic continues to take its economic toll, many companies with outstanding bonds worry that they will not have enough cash on hand to repay their bonds on their stated maturity date, or that their bond covenants are, or may soon become, under pressure. These companies may benefit from amending their bonds to defer payment, achieve greater covenant flexibility or make other advantageous changes. For other companies, the decline in the bond markets presents an opportunity to repurchase their bonds at a significant discount.

“Liability management” is an umbrella phrase for a variety of techniques that companies can use to manage their outstanding bonds. These include redemption, open market repurchases, tender offers, exchange offers and consent solicitations. This Alert provides an overview of key legal considerations applicable to liability management transactions.

To read the full text of this post, please visit the Duane Morris and Selvam COVID-19 Resource Blog.

April 7, 2020April 8, 2020 by Duane Morris

COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support

As of 5 April 2020, Singapore has reported more than 1,300 cases and six deaths due to the COVID-19 pandemic. While Singapore is handling the COVID-19 pandemic better than most nations, the crisis continues to intensify at an increasing rate. As such, there is the continued need to be vigilant in enforcing social distancing and isolation measures.

Even as countries all over the world begin increasing such preventative health measures, the pandemic is also devastating the global economy, including Singapore. During times of economic downturn and uncertainty, controlling fixed costs such as labour becomes even more pressing for companies. Businesses in almost every sector have been impacted by the COVID-19 pandemic, and many are looking to cut costs during this period of crisis. While every business faces unique considerations, the following guidance aims to clarify issues relating to safe distancing practices at the workplace, cost-saving and business continuity measures, and the available government support during this health and economic crisis for Singaporean businesses.

To read the full text of this Duane Morris Alert, please visit the firm website.

April 7, 2020September 1, 2020 by Duane Morris

Dealing with COVID-19 in the Singapore Construction Industry

The global COVID-19 pandemic, and the response by the Singapore government will have important consequences for the construction industry. This article provides a summary of the current laws, our analysis of how it will affect industry players, and various legal and practical issues that may arise.

To read the full text of this post, please visit the Duane Morris & Selvam COVID-19 Resources Blog.

April 3, 2020April 6, 2020 by Duane Morris

Singapore’s COVID-19 (Temporary Measures) Bill

According to a press release by the Ministry of Law on 1 April 2020, the Singapore government will introduce a new bill known as the COVID-19 (Temporary Measures) Bill in Parliament on 7 April 2020.

To read the full text of this Duane Morris Alert, which summarises the likely key features of the bill, based on currently available sources, please visit the firm website.

April 3, 2020August 31, 2020 by Duane Morris

COVID-19 in Singapore: What Can Commercial Tenants Do?

The global outbreak of the novel coronavirus (COVID-19) is the most critical problem facing the world now.

The Singapore government has acted swiftly to reduce the risks of local transmission. At the time of publication of this Alert, all bars and entertainment venues such as nightclubs, cinemas and games centres have been prohibited from operating. In addition, all gatherings involving more than 10 persons have been prohibited. Food and beverage, retail, and health and fitness businesses have been allowed to continue their operations (but with further precautionary measures)―for now. It is certain that these regulations will, and must, be tightened if the health crisis continues on its current trajectory.

To read the full text of this Duane Morris Alert, please visit the firm website.

April 2, 2020April 2, 2020 by Duane Morris

What Can I Do When My Singapore Wedding’s Stuck in COVID-19 Limbo?

The global outbreak of the novel coronavirus (COVID-19) is a public health emergency of international concern. In Singapore, the government has acted swiftly to impose restrictions. At the time of this article, all gatherings have been limited to 10 persons until 30 April 2020, and all events of 250 people or more have been suspended until 30 June 2020.

The situation is evolving rapidly and we expect these regulations to be tightened or extended. One group that has been impacted are couples with upcoming wedding celebrations, as well as other events organisers. If you are in this position, you may be wondering whether you are entitled to cancel or postpone your event, without losing your deposit, or worse, being forced to pay the full agreed price to the venue and your vendors. This article is meant to be a simple guide to navigating the process.

To read the full text of this article by Duane Morris & Selvam director Daniel Soo, please visit the firm website.