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Chinese (Simplified)Singapore companies to file with new Central Register of Controllers
New requirements form part of efforts to maintain transparency and Singapore’s reputation as a financial hub All companies in Singapore are required to file information on a new Central Register of Controllers, Singapore’s Accounting and Corporate Regulatory Authority (ACRA) announced last week. Unless exempted, local, foreign companies and limited liability partnerships (LLPs) will need to […]
Singapore opens public consultation on changes to Companies Act
The Accounting and Corporate Regulatory Authority (ACRA) is seeking public feedback on areas relating to digitisation, shareholder interest, financial reporting and other areas The Companies Act Working Group (CAWG), which was set up by ACRA in 2018 to review several areas of the Companies Act, has reviewed 56 issues and recommended 36 legislative reforms. Of […]
Malaysia introduces new Beneficial Ownership framework
The Companies Commission of Malaysia has made it mandatory for all legal persons to disclose their Ultimate Beneficial Owners In March 2020, the Companies Commission of Malaysia (SSM) produced guidelines which outlined rules surrounding the disclosure of Beneficial Owners for legal persons in Malaysia. As of March 1, 2020 all companies and Limited Liability Partnerships […]
Poor cybersecurity can lead to data breaches
Singapore’s Personal Data Protection Commission (PDPC) has handed out a number of fines to companies who suffered data breaches due to cyber-attacks. One such company suffered a ransomware attack, another did not have adequate firewall protections and so leaked the personal details of its customers. As a result, the PDPC fined these firms for failing […]
Economic Substance requirements included in Labuan tax returns
Companies in Labuan will be required to file their corporate tax returns by the end of July (extended from end of May due to the COVID-19 pandemic). Within the tax forms will be additional declarations that confirm whether or not the company is adhering to Economic Substance requirements. Economic Substance is the extent to which […]
More support for businesses in Singapore’s fourth budget of 2020
‘Fortitude’ Budget to continue business support and enhance existing jobs schemes Singapore’s Deputy Prime Minister and Finance Minister Heng Swee Keat announced the City State’s fourth budget for 2020 earlier this week. Dubbed the ‘Fortitude’ Budget, the government earmarked S$33 billion to support the re-opening of the economy and it has included a number of […]
Malaysia extends its Movement Control Order (MCO)
MCO extended by four weeks to June 9, prohibiting interstate movement and large gatherings while many economic sectors start to open up. Malaysian Prime Minister Muhyiddin Yassin recently announced an extension of the MCO for Malaysia, prohibiting domestic and international travel and barring religious and other large gatherings among other measures. The government will announce […]
How Hong Kong is supporting its economy during the COVID-19 pandemic
Hong Kong has rightly been praised for its handling for the COVID-19 pandemic. With just over a thousand cases despite being a densely populated metropolis, the government learnt from its experience during the SARS epidemic and took preventative measures early and is now beginning to relax social distancing measures and open up its businesses. However, […]
15 questions with… Alain Esseiva
Co-founder and CEO of Alpadis Group, Alain Esseiva, describes his career and daily life running Alpadis Group, key productivity tips and why he is optimistic about the future In a short paragraph, please describe what you do at Alpadis Group While I am still overseeing the day to day operation of Alpadis Group Singapore, I […]
Virus or no virus, the PDPA is still here…
Now more than ever organisations should ensure compliance with the Personal Data Protection Act, or risk heavy fines With a global pandemic infecting the world, stock markets crashing and entire teams working from home, data protection may have, understandably, taken a back seat in terms of priorities. However, given the massive amount of personal information […]