CHINA

CHINA M&A RULINGS CREATE HOT COMPETITION FOR ANTITRUST LAWYERS

China's increasing regulatory influence over international mergers and acquisitions has helped to create the hottest new commodity in its legal industry: antitrust lawyers. Full story here.


HONG KONG

CONSULTATION ON PROVIDING BETTER INVESTMENT SOLUTIONS FOR MPF MEMBERS

The Government has announced that it will conduct a public consultation on Providing Better Investment Solutions for Mandatory Provident Fund (MPF) Members. Comments by September 30, 2014. Full story here.


INDONESIA

GOVT, HOUSE AGREE TO 2015 MACRO ASSUMPTIONS

The Indonesian government and the House of Representatives (DPR) have agreed to macro assumptions, which will lay a basis for the state budget and the implementation of government programs and policies on 2015. Full story here.

 

PRESIDENTIAL ELECTION TO BE HELD IN ONE ROUND: CONSTITUTIONAL COURT

The Constitutional Court on July 3, 2014 has decided that the Indonesian presidential election, due to be held on July 9, 2014 will be conducted in a single round. Full story here.


JAPAN

TOKYO PROSECUTOR TO CHARGE NOVARTIS JAPAN UNIT, EX-EMPLOYEE OVER MANIPULATING DATA

Tokyo prosecutors has stated on July 1, 2014 that they will charge Japanese unit Novartis AG and a former employee in connection with allegations of data manipulation in promoting its best-selling blood pressure drug Diovan. Full story here.


KOREA

SOUTH KOREA, CHINA SIGN AGREEMENTS ON EXPANDING TRADE, COMMERCE

South Korean and Chinese businesses and institutions have signed several agreements on July 4, 2014 aimed at expanding commerce and trade on the sidelines of the bilateral summit meeting in Seoul. Full story here.

 

PARK, XI STRENGTHEN COMMITMENT TO NUCLEAR-FREE NORTH KOREA

President Park Geun-hye and Chinese President Xi Jinping have confirmed on July 3, 2014 their strong opposition to North Korea's nuclear weapons program. Full story here.

 

TWO NATIONS TO OPPOSE JAPAN

Chinese President Xi Jinping has announced on July 4, 2014 that Seoul and Beijing should cooperate closely to counter Tokyo's growing militarism and its flawed perception of history. Full story here.


MALAYSIA

THOMSON REUTERS HELPS UNDERSTANDING ON MALAYSIAN GST

The Royal Malaysian Customs, under the Goods and Services Tax (GST), will be requiring all businesses – whether they sell goods or provide a service - to register for GST licensing between June 1, 2014 and December 31, 2014. Malaysia's GST will take effect on April 1, 2015. Full story here.

 

SOVEREIGN WEALTH FUND 1MALAYSIA DEVELOPMENT BHD TO RAISE USD 3B IN IPO

Government-owned sovereign wealth fund 1Malaysia Development BHD has announced its plans to raise more than USD 3 billion by putting energy assets up for initial public offering (IPO). The proceeds from the offering will go to funding future growth and part of the company's outstanding debt. Full story here.

 

FOUR NEW HIGH IMPACT PROGRAMMES UNDER SME MASTERPLAN

Malaysian Prime Minister Datuk Seri Najib Razak has announced the roll out of four new High Impact Programmes (HIPs) for small and medium enterprises (SMEs), which aim to accelerate productivity growth through innovation and other measures. The four HIPs are integration of business registration and licensing, SME Investment Programme, GoEx Programme, and Catalyst Programme. Full story here.

 

NEW FINANCIAL SERVICES TALENT COUNCIL HOLDS FIRST MEETING

Bank Negara Malaysia has announced the establishment of the Financial Services Talent Council, which held its inaugural meeting on July 3, 2014. The Council's primary focus is identifying the future talent demands of the country's financial sector and recommend measures to develop, attract, and deploy both domestic and international talent. Full story here.

 

BANDAR KUCHING MP CALLS FOR THE ABOLITION OF RICE SUBSIDY SYSTEM

Bandar Kuching MP Chong Chieng Jen has released a statement calling for the abolition of the rice subsidy system because it does not benefit consumers, with the cheapest rice sold at MYR 1.80 per kilo. Full story here.


MYANMAR

MYANMAR'S PARLIAMENT SEEKS TO REPEAL MILITARY VETO

The members of Myanmar's Parliament are aiming to amend the constitution to remove the veto power of military representatives in the parliamentary over all constitutional amendments. Full story here.

 

PHILIPPINES, MYANMAR SEEK STRONGER MILITARY TIES

Xinhua News Agency has reported that the Philippines and Myanmar are talking about signing a memorandum of understanding in defence cooperation. Full story here.


PHILIPPINES

INFLATION EDGES LOWER TO 4.4 PER CENT IN JUNE

Headline inflation has decelerated to 4.4 per cent year-on-year in June 2014 from 4.5 per cent in May 2014. This decrease in numbers can be credited to slower increases in process of non-food items. Full story here.

 

DBM: DAP FUNDING AMOUNTED TO PHP 136.75-B FROM 2011-2012

The Department of Budget and Management (DBM) has clarified that PHP 136.5 billion was made available to fund high-impact priority projects under the Disbursement Acceleration Program (DAP) from 2011-2012, as compared to the PHP 325.7 billion that is being reported. Full story here.

 

PDIC RAISES PHP 118.01 MILLION FROM SALE OF ASSETS

The Philippine Deposit Insurance Corporation (PDIC) has raised PHP 118.01 million from the sale of closed banks and corporate assets in a public bidding on July 1, 2014. Properties left unsold are currently available for negotiation, or may be bidded out again. Full story here.

 

DOJ AND SEC ESTABLISHES MERGER CONTROL REGIME

The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) signed a Memorandum of Agreement for guidelines on merger regulation on July 4, 2014. Full story here.


SINGAPORE

SUBMITTED FINAL RECOMMENDATIONS FROM COMMITTEE FOR FAMILY JUSTICE

The Committee for Family Justice has finalized on July 4, 2014 its recommendations on the new framework of the family justice system after a month-long public consultation in May 2014. Full story here.

 

PUBLIC CONSULTATION ON CHANGES TO INCOME TAX ACT STARTS

The Ministry of Finance has announced that the proposed changes include extending the Productivity and Innovation Credit scheme and tax deduction for research and development. A public consultation has been initiated on July 4, 2014 to consolidate feedback on the proposed amendments to the Income Tax Act. Comments by July 24, 2014. Full story here.


TAIWAN

VISITS BY TOP CROSS-STRAIT OFFICIALS CONDUCIVE TO BILATERAL RELATIONS; PREMIER

Premier Jiang Yi-huah reported that the recent visits to Taiwan by mainland China's top official on cross-strait affairs in the last week of June 2014 has brought the two sides to a better understanding of each other, and is conducive to the mainland's grip of cross-strait developments. Full story here.

 

PREMIER URGES FURTHER PROMOTION OF GREEN PROCUREMENT

Premier Jiang Yi-huah, in commending the country's achievements in promoting green procurement; has urged the Environmental Protection Administration (EPA) to incorporate foresight in planning green policies and measures to meet nationwide carbon reduction targets. Full story here.


THAILAND

NACC SET TO TIGHTEN ASSET SCRUTINY RULES

The Narional Anti-Corruption Commission (NACC) will force financial institutions to submit information on all major monetary transactions made by political office-holders and government officials under a planned regulation. Full story here.

 

NCPO EYES POPULIST POLICY BAN

The junta has given "prescriptions" for the new permanent constitution to include measures preventing populist policies that could endanger the economy, and NCPO source has stated. Full story here.

 

INTERIM CONSTITUTION 'READY FOR AUGUST'

The military junta has stated on July 3, 2014 that it would make "minor changes" to the content of a provisional constitution before submitting it for royal endorsement. Full story here.


VIETNAM

GOV'T DISCUSSES OFFSHORE FISHING VESSEL BUILDING AID USE

The Government has announced that it will be providing VND 4.5 trillion (USD 214.28M) to support the construction of offshore fishing vessels and coast guard and fisheries surveillance forces. Prime Minister Nguyen Tan Dung said that the financial aid will help raise law enforcement capacity and ensure the safety of fishermen. Full story here.

 

VIETNAM SENDS PAPER AFFIRMING ISLAND SOVEREIGNTY TO UN

The Permanent Mission of Vietnam to the United Nations has sent a paper to UN Secretary General Ban Ki-moon on July 3, 2014 opposing China's illegal occupation of the Hoang Sa archipelago and affirming Vietnam's sovereignty over it. Full story here.