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TV host sues F&B firm that took over his Thai eatery chain

TV host sues F&B firm that took over his Thai eatery chain

Television host Pornsak Prajakwit and his business partner, who received $2 for selling 60 per cent of their shares in the Thai restaurant chain they founded, are suing the food and beverage company that took over the business.

Categories: Headlines
ISR Capital says 'no' to SGX order to hold shareholder vote on mining acquisition

ISR Capital says 'no' to SGX order to hold shareholder vote on mining acquisition

It has gone ahead to acquire a 60 per cent stake in the mining firm by issuing 747.26m new shares to the vendor.

Categories: Headlines

Singapore Court of Appeal allows application by director to inspect company records pursuant to section 199 of Companies Act, finding no ulterior motive

In Mukherjee Amitava v DyStar Global Holdings (Singapore) Pte Ltd & Ors [2018] SGCA 57, the Court held that a director has an almost-presumptive right to inspect the company documents to the extent these fall within the ambit of s199 of the Companies Act. 

Revised code of corporate governance and consequential amendments to the SGX listing rules

This article discusses some of the key changes to the Code, and the corporate governance advisory committee which the MAS expects to establish by the end of this year.

OUE Lippo Healthcare gains court OK to continue suit against Crest funds

OUE Lippo Healthcare gains court OK to continue suit against Crest funds

The disputes stem from 2016, when fund manager Crest Capital appointed receivers over the shares of three subsidiaries of OUE Lippo Healthcare after sending them notices of default.

Categories: Headlines
Is corporate governance in Singapore on a downward trajectory?

Is corporate governance in Singapore on a downward trajectory?

More discussion about investor protection and minority shareholder rights is needed.

Categories: Headlines

ACRA updates “Anti-Money Laundering / Counter Financing of Terrorism Guidelines for Registered Filing Agents”

This article outlines the key updates to the Guidelines released on 12 Nov.

Arbitration clause in shareholders’ agreement does not preclude Court proceedings for same relief under Articles

In BTY v BUA and other matters [2018] SGHC 213, the issue was whether or not the matter should proceed to litigation or arbitration. 

Re IM Skaugen SE and other matters [2018] SGHC 259

Companies — Schemes of arrangement

Companies — Schemes of arrangement

Directors and the scope of fiduciary duties

The SHC in Winsta Holdings Pte Ltd and another v Sim Poh Ping and others [2018] SGHC 239 found that the Sim family had in fact breached their fiduciary duties.

Transactions in breach of the financial assistance regime

International Healthway Corp Ltd v The Enterprise Fund III Ltd and others [2018] SGHC 246 is the first reported decision applying the Companies Act to void transactions where a company has purported to purchase its own shares.

Journals Online: Reformulating the rules on director liability exclusions in Said v Butt: PT Sandipala Arthaputra v STMicroelectronics Asia Pacific Pte Ltd [2018] 1 SLR 818 [Case Note]

The judgment left the position on personal liability for a company’s tortious acts significantly different. This note argues that the position in tort should be brought in line with that for contract.

[MYR] Ensuring Compliance with the Myanmar Companies Law 2017

The Myanmar Companies Law 2017 (MCL), which entered into force on 1 August 2018, introduces a modern legal framework for foreign investment in Myanmar.

Supreme Court Case Summary: Douglas Foo Peow Yong v ERC Prime II Pte Ltd and another appeal and other matters [2018] SGCA 67

CA allowed the winding up of ERC Prime II and Gryphon Real Estate Investment Corporation on the basis that the applicants had justifiably lost confidence in the management of these companies.

[MYR] Anti-corruption and anti-bribery laws in Myanmar

On 3 Aug 2018, the Ministry of Planning and Finance, DICA issued an announcement on the Anti-Corruption Code of Ethics for Companies and Body Corporates.

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