COVID-19 Pandemic: Relief Measures for Businesses in Myanmar

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Myanmar’s economy and businesses have seen a significant slowdown caused by the COVID-19 pandemic. To curb with this slowdown, the Myanmar government has come out with various measures that are intended to provide relief to the affected businesses. The various relief measures implemented across the government ministries are as follows:

Financial Relief for Priority Sectors

The Ministry of Planning, Finance and Industry (“MOPFI”) issued Notification No. 1/2020 on 18 March 2020 stating that businesses in the cut, make and pack sector, hotels, tourism companies, and small and medium enterprises (“Priority Sectors”) are entitled to the following reliefs:

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Validity of Electronic Signatures in Myanmar

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The COVID-19 pandemic impacts all aspects of our daily lives. Government authorities around the world have imposed various measures to reduce physical contact among people, including travel bans and movement restrictions (i.e., stay-at-home orders). Nevertheless, business transactions can still be performed by electronic means, including electronic communication/transmission and execution by e-signature. Reflecting changing needs, Myanmar also allows electronic signature documents to be exhibited as evidence in its courts and recognizes the legal validity of electronic signatures inserted onto commercial documents. Still, questions remain about the validity of electronic signatures for important transactions.

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

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This article was originally published on 3 April 2020 and last updated on 27 April.

As of 27 April 2020, Singapore has reported more than 13,000 cases and 12 deaths due to the COVID-19 pandemic. While the number of new cases in the local communities have started to level off, many of the new cases are unlinked, pointing to a larger, as-yet undetected reservoir of cases in Singapore. 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.

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Building and Construction Industry Security of Payment Act (“SOP Act”): Supplementary Rules for Electronic Adjudication Lodgment

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Introduction

On 15 April 2020, the Singapore Mediation Centre (“SMC”) enacted Supplementary Rules for Electronic Adjudication Lodgment to provide for:

  1. the electronic lodgment of documents;
  2. telegraphic transfer of fees;
  3. electronic service of documents; and
  4. adjudication conferences.

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Loan Obligations: Relief Measures During the COVID-19 Pandemic

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A package of targeted relief measures was announced by the Monetary Authority of Singapore (MAS) on 31 March 2020, which it has rolled out together with the Association of Banks in Singapore, the Life Insurance Association, the General Insurance Association and the Finance Houses Association of Singapore to provide temporary relief for individuals and small- and medium-sized enterprises (SMEs) facing liquidity problems during this period of the COVID-19 pandemic. In the face of a collapsing world economy, these measures could prove to be a lifeline to starve off bankruptcy and winding-up actions.

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Alternative Arrangements for Companies’ General Meetings

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As a result of COVID-19 and the prescribed “circuit breaker” measures by the government on gathering and social distancing, general meetings requiring personal attendance cannot be conducted during this “circuit breaker” period.

We had previously written about the COVID-19 (Temporary Measures Act) and its provisions for the Minister of Law to prescribe alternative arrangements for, among others, the holding of general meetings during this “circuit breaker” period.

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COVID-19 – Equity Fundraising Options for Listed Companies in Asia

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With the COVID-19 pandemic continuing to overwhelm economies, a number of listed companies globally have already recapitalized through equity fundraising in the capital markets. New equity has helped these companies shore up their balance sheets and obtain liquidity. This Alert discusses equity fundraising options for listed companies in Asia and complements our prior Alert that discussed options for Asian companies to manage their outstanding bond liabilities. Continue reading COVID-19 – Equity Fundraising Options for Listed Companies in Asia

COVID-19 in Myanmar: Impact on Commercial Contracts and Employment

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The coronavirus outbreak is having a significant impact on the global economy and markets. As the coronavirus sweeps around the world, emerging and frontier countries like Myanmar face more challenges.

Since March 2020, the Myanmar government has introduced several immigration measures to reduce the transmission, including temporary suspension of issuing all types of visas and compulsory quarantine requirement for all travelers entering Myanmar. The Myanmar government also subsequently imposed a movement restriction requesting all residents to stay at home during the Thingyan festival (Myanmar New Year), in conjunction with the immigration measures.

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COVID-19 (임시 조치) 법 2020

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2020년 4월 7일 싱가포르 의회는 다음과 같은 두개의 중대한 COVID-19 관련 법률을 통과시켰습니다:

  • COVID-19임시 조치법 2020 (이하 “임시 조치법”): 이 임시 조치법은 COVID-19 사태로 인해 피해를 입은 당사자들에게 한시적인 구제 조치를 제공하고, 정부에게 통제 통제 명령을 내릴 수 있는 권리를 부여합니다.
  • COVID-19 (임시 조치)(통제 명령) 규정 2020 (이하 “통제 명령”): 상기 임시 조치법에 의해 공표된 통제 명령은 202047일 부터 202054 까지 그 규모와 및 장소를 불문하고 모든 “social” 모임을 금지 및 통제합니다.

이 기고문은 임시 조치법과 통제 명령에 대한 주요 내용을 제공하기 위해 작성되었습니다.

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신종 코로나 바이러스 (COVID-19): 현재까지의 법적 영향 및 향후 전망

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2020년 3월 11일 세계보건기구 (WHO)는 신종 코로나바이러스(이하 “COVID-19“)의 발병을 세계적인 유행병으로 선언했습니다. 2020년 4월 14일 기준으로 세계적으로 186만 4,360명이 COVID-19 감염 확진 판정을 받았으며 사망자는 11만 8,246명입니다. COVID-19는 전 세계적으로 큰 영향을 끼쳤습니다. 각국은 국경을 폐쇄하고 지역 봉쇄를 통해 국민들의 움직임에 제재를 가하기 시작했습니다.

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