eOasis is Rajah & Tann Asia’s legal publications portal, where you can view updates on the latest key legal and regulatory developments in Asia, prepared from a practitioner's viewpoint.
What's New on eOASIS
The Ministry of Labour and Vocational Training ("MLVT") issued Prakas No. 303/20 dated 10 September 2020 on the Minimum Wage Determination for Workers in Textile, Garment and Footwear Sectors for 2021 ("Prakas"). According to the Prakas, starting from 1 January 2021, the minimum wage of workers in the textile, garment and footwear industries will be increased to US$192 per month from the current US$190 per month.23 Sep 2020 | Cambodia
To implement the regulations in the telecommunications sector more effectively, the Telecommunication Regulator of Cambodia ("TRC") issued guideline No. 1606 dated 12 August 2020 on Strengthening Measures for Enforcement of the Law on Telecommunications ("Guideline"). The Guideline requires the telecommunication operators to comply with certain obligations such as timely self-declaration and payment of licence fees (allocated revenue), and contributing certain percentages of their gross annual revenue to prescribed funds.23 Sep 2020 | Cambodia
RGC Updates on Subsidies for Employees in the Garment and Tourism Sectors during the Employment Suspension
To update the amounts of subsidy provided by the Royal Government of Cambodia (“RGC”) to employees in the garment and tourism sectors, the Ministry of Labour and Vocational Training has issued several notifications as follows:
- three notifications on 24 July 2020;
- two notifications on 29 July 2020;
- three notifications on 31 July 2020;
- two notification on 26 August 2020;
- one notification on 2 September 2020, and
- one notification on 10 September 2020.
Generally, the amount of subsidy varies with the period of employment suspension, and subject to fulfilment of certain conditions such as employees who have completed soft skills training.21 Sep 2020 | Cambodia
TRC Issues Guidelines Requiring Telecommunication Operators to Seek Approval Prior to Certain Activities
Pursuant to Article 22 and Article 63 of the Law on Telecommunications, the Telecommunication Regulator of Cambodia ("TRC") issued guideline No. 1252 dated 30 June 2020 instructing all telecommunication operators to seek TRC's approval prior to undertaking any activity related to mergers and acquisitions, pledging rights conferred by TRC (for instance under the permit, certificate, or licence) as security, and composition change of their management teams.21 Sep 2020 | Cambodia
Trademark Registration Order: Ministry of Commerce Order No. 63/2020- Soft Opening of New Registration System
On 28 August 2020, the Ministry of Commerce ("MOC") issued Order No. 63/2020 ("Order") directing all Trademark Owners to apply for trademark registration. A "Trademark Owner" is defined under Section 93(a) of the Trademark Law as an owner of a mark which is registered at the Deeds Registration Office, or an owner of a mark which is not registered but is actually in use in the Myanmar market. The Order requires such Trademark Owners to apply for Trademark Registration starting from 1 October 2020 as the Government seeks to transition from a First to Use System to a First to File System.21 Sep 2020 | Myanmar
On 14 August 2020, the Ministry of Labour and Vocational Training ("MLVT") issued a clarification on the compensation in lieu of prior notice and damages in cases of termination of undetermined duration contract ("UDC"), providing additional explanation to Letter No. 295 dated 29 July 2020 of the Inspection Department of the MLVT on clarification of "damages" and “compensation in lieu of prior notice”.18 Sep 2020 | Cambodia
The Ministry of Labour and Vocational Training ("MLVT") has issued Prakas No. 277/20 dated 14 August 2020 on Employing Foreign Employees Under Special Condition ("Prakas") relating to allowance to employ foreign employees beyond the "10% permitted quota" that employers/enterprises can employ. Under normal circumstances, any enterprise may only employ foreign employees up to a maximum number that is equivalent to 10% of the total number of Cambodian employees in that enterprise ("10% permitted quota").18 Sep 2020 | Cambodia
Further Changes to COVID-19 (Temporary Measures) Act Concerning Rental Relief, Collective Sales, Construction Contracts and Meetings
On 4 September 2020, the COVID-19 (Temporary Measures) (Amendment No. 2) Bill ("Bill") was passed in Parliament, setting out further proposed amendments. The Bill seeks to strengthen the COVID-19 (Temporary Measures) Act by:
- Expanding the powers of rental relief assessors;
- Allowing applications for the extensions of deadlines for collective sales;
- Clarifying the interaction between Part 8 of the Act (which deals with contracts affected by delay in the performance or breach of a construction contract, supply contract or related contract) and other dispute resolution proceedings; and
- Enhancing the certainty of alternative meeting arrangements.
MAS Imposes New Requirements on Execution of Customers’ Orders on Capital Market Intermediaries w.e.f. 3 March 2022
With effect from 3 March 2022, capital markets intermediaries will be required to establish and implement written policies and procedures to:
- Place and/or execute customers’ orders on the best available terms ("Best Execution"); and
- Place and/or execute comparable customers’ orders according to time of receipt of such orders.
This new requirement is set out in new Notice SFA 04-N16 on Execution of Customers' Orders issued by the Monetary Authority of Singapore ("MAS") on 3 September 2020. The accompanying Guidelines to MAS Notice SFA 04-N16 on Execution of Customers' Orders was also issued on the same day to provide guidance on the interpretation of the Notice.
This follows the MAS' consultation on the proposal in November 2017. A Response to the Feedback Received on the Consultation was published on 3 September 2020.
This Update highlights the key features of the Best Execution requirement and its application on capital markets intermediaries.
Generally, the 8th Edition does not make fundamental changes to the allocation of risks and responsibilities between the Employer and the Contractor but serves to provide greater clarity and certainty to parties by introducing several points of clarification. In this update, we highlight a number of differences between the 7th and 8th Editions of the PSSCOC. 14 Sep 2020 | Singapore
In this publication, we take a broad look at the key areas of interest in the restructuring and insolvency regimes across the region. The comparative overview covers various differences and similarities in the respective restructuring and insolvency frameworks in these jurisdictions.
Rajah & Tann Asia, as a regional network of law firms, has an established presence across Southeast Asia. Our regional offices have the requisite restructuring and insolvency expertise to assist with your queries and restructuring and insolvency needs across these jurisdictions. 11 Sep 2020 | Singapore