RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views in this week’s topic in the Business Times’ weekly column, Views from the Top.
In response to the queries as to how important is the knowledge of competition law to the way your organisation does business, and what should the role of the Board and/or CEO be in competition compliance, and what other key elements should a competition compliance programme include, he is quoted saying:
“The original legislative intent behind theCompetition Law in Singapore was to create a level playing field in all affected sectors of industry, to stop organisations from engaging in cartel-like behaviour or to exert unhealthy dominance in any particular industry. A robust and efficiently enforced competition law will facilitate the healthy growth and development of businesses, and can only benefit consumers in the long run.
Furthermore, if Singaporean organisations develop a reputation internationally of not engaging in anti-competitive behaviour, then this will stand them in good stead when they go overseas.
Prudent companies, who recognise the benefits of compliance with competition law, should establish their own competition compliance programs. Amongst other things, having a keen knowledge of competition law will enable them to:
Raise awareness of and be educated in anti-competitive behaviour;
Detect anti-competitive behaviour early;
Reduce the risk of liability; and
Prepare them when they encounter equivalent regulatory requirements overseas.”
The Firm’s Competition Law Practice Group is led by Intellectual Property & Technology Partner, Mr Wun Rizwi.
In Issue 3 of RHTLaw Taylor Wessing’s China Practice Bulletin, our China Practice team shared key insights on the New SAFE (State Administration of Foreign Exchange) Rules on the Share Incentives Schemes offered by Foreign Listed Companies.
The Notice of Relevant Issues of Foreign Exchange Administration Concerning Domestic Individuals’ Participation in Share Incentive Schemes of Foreign Listed Companies (“Circular 7”) was issued on 15 February 2012 and supersedes the 2007 SAFE rule on the same subject. A summary of the key provisions and amendments in Circular 7 can be found in the bilingual bulletin.
Please click on the link below to view it:
China Practice Bulletin Issue No. 3
As part of RHTLaw Taylor Wessing’s value added services, our China Practice team will be sharing key legal insights about China through the quarterly bulletin.
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RHTLaw Taylor Wessing LLP is the proud dinner sponsor of the Singapore Institute of Directors (SID) Golf Tournament 2012, which was held on Sunday, 24 June 2012 at the Sentosa Golf Club.
This annual social event is organised by the SID since 2001 and is attended regularly by directors and senior management of corporations in Singapore. The list of sponsors for this year’s event include Keppel Corporation, NTUC Fairprice, Sembcorp, ARA, Asia Water Technology, Boustead, Decision Processes International, Deloitte, Ernst & Young, Frasers Centrepoint, Gas Supply Pte Ltd (GSPL), Hartawan Holdings Limited, KPMG, LMA, PricewaterhouseCoopers, Rotary Engineering, Senoko, SMRT, Standard Chartered, Tat Hong Holdings Limited, Tuas Power, the Singapore Exchange, and RHTLaw Talylor Wessing. The Minister for Defence Dr Ng Eng Hen was the Guest of Honour at the dinner held in the evening.
Also present at the dinner were Managing Partner and Head of Corporate and Securities Practice Mr Tan Chong Huat, Partner and Deputy Head of Corporate and Securities Practice Mr Lawrence Wong, Corporate and Securities Partner Mr Lin Song, Associate Director of RHT Corporate Advisory Pte Ltd Mr Nathaniel C V, and Corporate and Securities Senior Associate (Foreign Lawyer) Mr Lee Bagshaw.
RHTLaw Taylor Wessing congratulates RHT Corporate Advisory on being appointed as the corporate secretarial agent by Suntar Eco-City Limited (previously known as Reyphon Agriceutical Limited), a Mainboard Listed Company, with effect from 11 May 2012.
Reyphon Agriceutical Limited was established on 22 September 2006 and was listed on the Mainboard of SGX-ST on 1 August 2007. The Group is primarily engaged in production of pharmaceutical ingredient products. The Group has been actively exploring new business opportunities to rejuvenate the Group. The Company had made announcements of its intention to enter the eco-tourism management business and business of hotel ownership and management, development, sale, lease and management of residential and commercial properties.
Upon receipt of shareholders’ approval on 11 June 2012, the Company had expanded the Group’s scope of business to include eco-tourism real estate development and management business. The Company had also changed its name to Suntar Eco-City Limited with effect from 11 June 2012.