RHTLaw Taylor Wessing Head of Financial Services Nizam Ismail was interviewed by Channel NewsAsia on the launch of the Visa Monaco Crypto Card in Singapore. The full interview was featured on Channel NewsAsia’s Singapore Tonight segment on 2 November 2017. The interview makes relation to Monaco, a cryptocurrency payment platform, that has confirmed the launch of its prepaid card in Singapore based on the VISA gateway. The prepaid card has been approved for issuance to Singaporean residents and accepted at 44 million merchant locations in the payments network. Nizam pointed out that there is an “obligation on the service provider to look at transaction records and to spot red flags in advance, such as any suspicious movement of funds, on an ongoing basis." The move marks an important step towards introducing such digital currencies to the mass market. To date, Visa has also approved programmes that allow consumers to convert cryptocurrency into legal tender for BitPay and Shift Card. Please watch the video for the full interview.
RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views on "The bull charges on" in this week’s The Business Times’ weekly column, Views from the Top. This article was first published in The Business Times on 30 October 2017. The bull charges on Monday, October 30, 2017 THIS WEEK'S TOPIC: Is the current market 'exuberance' rational and sustainable? Tan Chong Huat Managing Partner RHTLaw Taylor Wessing LLP The latest announcement by Prime Minister Lee Hsien Loong that Singapore's GDP growth for 2017 could reach the upper end of the projected 2 per cent to 3 per cent range is probably the harbinger of more good news coming our way. There are signs of mild market exuberance, particularly in the equity and property sectors. This could have been prompted by the turnaround in Singapore's economy which has shown sustainable and moderate growth since the fourth quarter of 2016. If this trend continues into 2018, the mild exuberance could turn into a little celebration as Singapore's economy continues on its recovery path, growing at a sustainable rate of 2 per cent to 4 per cent. It will also be good news for Singaporeans, especially on the employment front. A growing economy will mean a higher employment rate which spells better spending power. This will bode well for the services industries which form about 70 per cent of Singapore's GDP in 2016. However, the stronger GDP numbers and exuberance seen in the equity and property sectors over the past few quarters have yet to spill over into the general economy. There are still challenges ahead as we are definitely not completely out of the woods just yet.
RHTLaw Taylor Wessing Intellectual Property & Technology Partner Jack Ow was quoted in an article published in SecurityBrief Asia titled “In depth: A lawyer's perspective on ethical hacking & penetration testing in Asia”. The article was first published in SecurityBrief Asia on 26 October 2017. The article discussed the possibility of ethical hacking and penetration testing taking a bigger role as organisations increasingly rely on technologyfor daily and critical operations. Jack commented on (1) how ethical hacking and penetration testing could go some way toward identifying new or unknown vulnerabilities for the improvement of existing defences”, (2) the associated legal risks and regulatory considerations, and (3) the importance of having appropriate policies and practices to guard against abuse and to manage security risks. The full article dated Thursday 26 October 2017 can be found in SecurityBrief Asia.
The ASEAN Plus Group (APG) congratulates Partners from our member firms on making the Asian Legal Business 40 under 40 list. APG congratulates: Melinda Marie D’Angelus, Partner, Azmi & Associates
Hendra Ong, Partner, Hanafiah Ponggawa & Partners (HPRP) Melinda was recognised for her work in the labour and employment as well as litigation and arbitration areas. In particular, Melinda acted for an oil and gas company in an unfair dismissal claim brought by a former employee in the Industrial Court of Malaysia. Additionally, she provided legal advice on employment law and practices in Malaysia to two individuals for an ongoing arbitration in the Singapore International Arbitration Centre (SIAC). Hendra has been distinguished for his experience in the resources and infrastructure practices. He acted on the restructuring of PT Mandala Airlines and represented Garuda Indonesia Airlines on its purchase of 50 Boeing 737 MAX 8s aircrafts, valued at $4.9 billion at 2014 list prices. Moreover, he provided legal assistance to the Lonza Group on its $5 billion acquisition of Capsugel as well as to Sriwijaya Air on its IPO plan preparation. The Asian Legal Business 40 under 40 list shines light on 40 outstanding legal professionals in Asia under the age of 40 who have worked on significant deals and disputes in the past year and have earned accolades from their peer, superiors and clients. The full ranking can be viewed in the October 2017 issue of the Asia Edition of Asian Legal Business.