On 15 May 2025, Singapore Exchange Regulation (“SGX RegCo”) published a consultation paper proposing reforms to the SGX Mainboard Listing Rules, aimed at transitioning to a more disclosure-based regime. Key proposals include replacing certain prescriptive requirements...
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Legal Update: New Regulatory Framework for Digital Token Service Providers
On 30 May 2025, the Monetary Authority of Singapore (“MAS”) responded to public feedback on its proposed regulatory framework for Digital Token Service Providers (“DTSPs”) under part 9 of the Financial Services and Markets Act 2022 of Singapore (“FSMA”) and issued the...
Legal Update: Singapore Court of Appeal lays down the framework by which Singapore Courts will deal with Infra Petita challenges to Arbitration Award – DKT v DKU [2025] SGCA 23
Natural justice challenges to an arbitration award of the infra petita variety, i.e. that the tribunal had not carried out its mandate by considering all the material issues that were raised in the arbitral proceedings, have become increasingly common in recent years....
Legal Update: New Sentencing Framework for nominee directors who fail to oversee the affairs of their companies – Public Prosecutor v Zheng Jia
The criminalising of negligence by company directors has been a controversial part of Singapore company law since it was first introduced to the Companies Act (the ”Act”) in 1966.[1] This is compounded by the fact that a breach brings with it the threat of...
Legal Update: Extended Res Judicata and Arbitrations – CIX v DGN
The doctrine of res judicata was developed to ensure finality in litigation, to prevent endless litigation over the same subject matter typically between the same parties. Over time, it was observed that litigants were circumventing the doctrine by strategically...
Legal Update: Challenging Administrative Decisions of The Arbitration Institution – DMZ V DNA
Arbitration institutions like the SIAC will usually have, under their rules, considerable powers to make administrative decisions for the purpose of administering arbitrations e.g. the extension or abbreviation of time limits; whether a dispute warrants the...
Mareva Injunction in Support of a Foreign Seated Arbitration – Novo Nordisk V KSP Bioscience
This decision is of great interest as it is relatively unusual for a court to grant an ex parte injunction in support of an arbitration, let alone a foreign seated arbitration. The Singapore International Commercial Court (“SICC”), in a pithy decision delivered ex...
Legal Update: Natural Justice and the importance of pleadings in expedited and documents only arbitrations – Wan Sen Metal Industries v Hua Tian Engineering
In arbitral proceedings generally, pleadings are not necessarily determinative in the same way or to the extent that they might be in court litigation; the consensual nature of arbitration means that the parties may agree to an unpleaded issue being dealt with in the...
Legal Update: The Interplay Between Enforcement of An Arbitral Award and Setting Aside Application at The Seat Court – Aastar Trading Pte Ltd v Olam Global Agri Pte Ltd
Introduction The case of Aastar Trading Pte Ltd v Olam Global Agri Pte Ltd[1], decided by the General Division of the High Court of Singapore, analyses the legal principles concerning the enforcement of foreign arbitral awards and the interplay between enforcement of...
Legal Update: Infra Petita challenges of arbitration awards under Singapore law – the Singapore Court of Appeal settles the issue in DEM v CEL
The Singapore Court of Appeal has started the new year with a decision on an interesting point of law; whether a non-participating party to an arbitration can challenge an arbitral award on the ground that the arbitrator had failed to consider a point which was not...