본 기고문은 2020년 11월 30일부터 발효된 COVID-19 (임시조치) 법 2020 (이하 “COVID-19법”)의개정안 중 Part 8A 및 Part 8B에 대한 내용을 안내 드리기 위해 작성되었습니다.
2020년 11월 3일자 BCA 공지 내용에 대한 기고문에서 안내 드린 바와 같이, 개정된COVID-19 법 Part 8A 와 Part 8B는 건설업 관계자들에게 공사 기간 연장 (EOT) 및 비용 분담을 통한추가적인 구제 방안을 규정하고 있습니다. 이러한 구제 방안은 정부가 건설 계약 당사자인 경우를 포함한 모든 건설 계약들에 적용됩니다. 이와 관련된 BCA 공지와 안내서는 첨부된 자료를 확인해 주시기 바랍니다. 개정된 COVID-19 법 Part 8A 및 Part 8B의 주요 내용을 정리하면 다음과 같습니다.
Continue reading “COVID-19 (임시조치) 법 2020 개정안 – Part 8A 및 Part 8B”
Globally, private equity (“PE”) and venture capital (“VC”) funds ended April 2020 with a record $2.6 trillion in unspent capital at their disposal. With cash readily available, the ongoing coronavirus pandemic presents ample opportunities for well-managed PE and VC sponsors to capitalize on these trying economic circumstances. At the same time, the economic damage wrought by the pandemic presents significant challenges to sponsors and their portfolio companies. This article discusses some of the ongoing opportunities and challenges PE and VC sponsors face, with a focus on three broad categories: (i) considerations for existing portfolio companies, (ii) the impact on transaction execution and terms for new portfolio investments, and (iii) fund-level considerations.
Continue reading “Navigating Crisis – Considerations for Private Equity and Venture Capital Funds”
Following the end of the circuit breaker period on 1 June 2020, Singapore is implementing a gradual resumption of business. During this period, employers are likely to continue to have concerns over cost-saving and business continuity measures and the government support available to them.
Since our previous article, there have been a number of updates and advisories from the Ministry of Manpower (MOM) providing additional guidance to employers during the circuit breaker period and beyond. Shortly before the end of the circuit breaker period, the Singapore government had also presented the Fortitude Budget on 26 May 2020, which includes, among other things, additional support for employers.
Singapore’s circuit breaker period came to an end on 2 June 2020 with the government introducing a three-phased approach for transitioning into a “new normal” and resuming economic activities safely.
With certain businesses reopening, the government is encouraging continued vigilance through a mix of statutory obligations as well as guidelines from the various government ministries. In terms of statutory obligations, the updated COVID-19 (Temporary Measures) (Control Order) Regulations 2020 includes specific obligations for employers, among others, to institute safe practices in the workplace. In terms of guidelines, the Ministry of Manpower has issued certain Safe Management Measures for general workplace settings and sector-specific guidelines for specific workplace settings.
This article aims to educate and provide guidance to employers operating post-circuit breaker on the requirements which may be relevant to them.
Continue reading “Reopening the Workplace During the COVID-19 Pandemic: What Employers Need to Know”
We had previously written about the COVID-19 (Temporary Measures) Act and its provisions for the Minister for Law to prescribe alternative arrangements for, among others, the holding of general meetings.
The COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (Order) was published in the Gazette on 13 April (and subsequently amended on 14 April 2020 and on 24 April 2020) and is deemed to come into effect on 27 March 2020.
Continue reading “Alternative Arrangements for Companies’ General Meetings”
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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:
Continue reading “COVID-19 Pandemic: Relief Measures for Businesses 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.
Continue reading “Validity of Electronic Signatures in Myanmar”
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.
Introduction
On 15 April 2020, the Singapore Mediation Centre (“SMC”) enacted Supplementary Rules for Electronic Adjudication Lodgment to provide for:
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”
