Search for:
Category

Asia-Pacific

Category

The federal election is slated for 21 May 2022 and it is important to be aware of your obligations when it comes to political donations to ensure you are compliant with any disclosure requirements under the Commonwealth Electoral Act 19189 (Cth) (“Electoral Act”).
Not only do offences under the Electoral Act carry fines but non-compliance with political donations laws can lead to significant reputational risk in an area that frequently makes headlines.
This federal election is also the first since reforms in December 2021 tightened the laws relating to political donations in relation to foreign donors.

On 25 April 2022, the Malaysia Competition Commission launched an online public consultation on proposed amendments to the Malaysian Competition Act 2010. Key amendments include (i) introduction of a merger control regime; and (ii) amendments to increase MyCC’s investigation and enforcement powers and enhance its procedures.

The Ministry of Justice and the Ministry of Internal Affairs and Communications have recently approached certain foreign companies (in particular tech companies) and issued notices requiring that the company make a registration in Japan under the Companies Act.
In this article, we comment on this issue and provide our perspectives on the Japanese Companies Act, tax and other related laws and regulations such as the Telecommunications Business Act.

In this article, we will discuss the underpinnings of the European Union’s ambitious plan, the “European Union Green Deal”, an agenda to advance the sustainability of member economies and have far-reaching implications for Asia Pacific and Thailand in particular. Given the stringent environmental, sustainability, and other regulatory standards in the EU Green Deal’s Sustainable Products Initiative, it is essential that businesses in Asia Pacific monitor the targets and ambitions of the EU Green Deal to be prepared to comply with higher standards for imports into the EU.

At the UN Climate Change Conference in Glasgow known as COP26, countries agreed to advance the implementation of the Paris Agreement and accelerate its action plans to cut global greenhouse gas emissions. Along the line of this endeavor, the Prime Minister of Thailand, Prayut Chan-o-cha, announced Thailand’s enhanced ambition towards a low carbon society, aiming to reach carbon neutrality in 2050, and Net Zero GHG Emissions in or before 2065.

As part of the measures to help ease the impact of the rise in fuel prices, the Cabinet, on 29 March 2022, approved, in principle, the reduction of the contribution rate to the Social Security Fund. This new measure, once the regulations are issued, will reduce the monthly contribution rates of employers and employees from 5% to 1% of wage applicable for three months starting from May until July 2022, to help reduce the cost of living for employees and costs for employers through the SSF system.

In February 2022, the Minister of Employment issued Regulation No. 2 of 2022 on the Procedure and Conditions for the Payment of Old Age Security Benefits. This regulation raised a number of questions, particularly from employees and unions, as it only allows employees who voluntarily resign to receive their Old Age Security (Jaminan Hari Tua or “JHT”) benefits payout when they reach the age of 56, regardless of their age when they resign. In response to these objections, the Minister revisited the February regulation. On 26 April 2022, in the week before the Idul Fitri holidays, the Minister issued Regulation No. 4 of 2022 on the Procedure and Conditions for the Payment of Old Age Security Benefits (“Regulation 4”), replacing Minister of Employment Regulation No. 2 of 2022.

After surveying more than 2500 SMEs in Vietnam, the authority found that SMEs generally do not have a high level of awareness of the law. The regulator also published papers on the state of competition in two sectors. The annual report includes consolidated and published statistics by the VCCA and MOIT. This update was published as part of our quarterly newsletter, Asia Pacific Competition Highlights.

Effective from 1 February 2022, the updated post-closing merger notification form requires substantially more information from parties, though the statutory period for submission remains unchanged. The authority’s new guidance on unfair trade practices introduces a de minimis threshold of 10% to the definition of “superior bargaining power”. A draft amendment to the SME Credit Term Guideline proposes changes to the definition of an SME. The TCCT has been conducting a law review and focus-group surveys to assess the efficiency and enforcement of the competition law, the first such mandated assessment since the law came into effect in 2017.