Legal Updates for August 2021

A Guide to the Real Estate Industry in Asia

A keen understanding of the nature of real estate and the legal and regulatory issues related to this asset class is critical to working out the basic features of any real estate deal. The Rajah & Tann Asia’s “Guide to the Real Estate Industry in Asia” gives you a brief overview of certain key insights to the real estate industry in the ten jurisdictions across Rajah & Tann Asia’s geographical footprint, namely, Cambodia, China, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Topics covered in the Guide include the legal framework, types of real estate, ownership and tenure, taxes as well as important issues that an investor of real estate in the region should take note of.

In its second edition, we hope that this Guide will be a useful aid to investors who are navigating or looking to navigate this part of the world for their real estate investments.

A key pillar of our strength is our Rajah & Tann Asia network with offices in these ten jurisdictions, as well as dedicated desks focusing on Japan and South Asia. With the most extensive legal network in Asia, our lawyers have a tight grasp of the local culture, business practices, and language not just within their own home countries, but in the other markets in which they frequently conduct cross-border deals as well. Our depth of transactional and regulatory experience allows us to advise clients strategically and creatively, from structuring to eventual execution and implementation of the transaction.

This gives us an unparalleled edge over our competitors in presenting and pursuing solutions that are both practical and cost-effective. It provides our clients with the "home advantage" in any corporate real estate matters.

A Guide to Sustainable Financing in Southeast Asia

The COVID-19 pandemic has brought about a renewed realisation on how existential threats can debilitate the global economy. With this, issues affecting sustainability, climate change, social economics and governance have taken on a new priority on the agenda of governments, industries and businesses.

This renewed focus is aligned with what has been already a growing investment trend and corporate behaviour in recent years – where corporates have started to look beyond short-terms returns, and focus on environmental, social and governance (ESG) factors for long-term sustained growth.

Adequate financial support is important to support the achievement of sustainability and ESG targets. To this end, there has been a global push for financing products that incorporate elements of environmental protection and performance-based sustainability linked targets.

In this publication, we provide an overview of these sustainable financing options across the nine jurisdictions of Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Each Country Chapter covers the policy, legal or regulatory framework supporting sustainable financing in each jurisdiction and highlights the trends, government incentives and initiatives that help shape the sustainable financing landscape in these Southeast Asia jurisdictions.

Shipping Law Updates

The Shipping Law Updates is a publication by our Regional Shipping Group which marshals legal expertise, industry insight, and commercial acumen in the fields of maritime and trade from the diverse talent pool of specialist lawyers at the Rajah & Tann Asia offices. The publication provides a snapshot of the key legal, regulatory, case law and industry developments in the region that have an impact on the shipping industry.

In this issue, we report on the amendments to the rules of service of admiralty writs and warrants of arrest in Malaysia to ensure safety amidst the COVID-19 pandemic. We also look at developments in the rules for the registration and licensing of shipbreaking and ship recycling in the Philippines.

Relaxation of Limitations for Foreign Arbitrators or Representatives in Thai Arbitral Proceedings

In an effort to promote Thailand as an arbitration-friendly venue and a regional hub for international arbitral proceedings, the limitations imposed on foreign arbitrators and representatives who are appointed to act in arbitration proceedings in Thailand have been relaxed.

Previously, foreign parties may have been discouraged from choosing Thailand as the venue for arbitration because of concerns on the limited selection of arbitrators and representatives due to restrictions on foreign arbitrators and representatives. Foreign arbitrators were required to undergo an onerous and time-consuming process to obtain a work permit, while foreign representatives were prohibited from acting in arbitration proceedings in Thailand unless the dispute was governed by foreign law or the award would not be required to be enforced in Thailand.

In this Update, we look into the amendments introduced by the Arbitration Act (No. 2) B.E. 2562 (A.D. 2019) ("Arbitration Act (No. 2)") which expressly allow the appointment of foreigners as arbitrators or representatives, together with remaining restrictions for foreign arbitrators or representatives such as visa requirements.