Asian-Australian Leadership Summit 2020

An initiative of the Australian National University (ANU), PwC Australia, Johnson Partners and Asialink of the University of Melbourne, the Asian-Australian Leadership Summit (AALS) is a national platform that aims to elevate on the public agenda the issue of greater Asian-Australian representation in senior leadership positions, energising efforts to break through the ‘bamboo ceiling’, and …

Member Event | Important Notice on Tax Issues around Overseas Pensions & Provident Fund

One of the many unforeseen impacts of COVID-19 has been the massive financial impact, especially in the tourism and aviation industries around the world. Initially this was mainly in reduced hours and unpaid leave, however as time progresses and little solution is in sight, we are now seeing a raft of redundancies that will directly …

Insight | 11/11 Singles Day Sales

The Importance of 11/11 The world’s largest shopping event has amassed total sales of nearly USD $70 billion in gross merchandise value (GMV) across China’s two largest e-commerce platforms, Alibaba and JD.com. The 24-hour event is known as the Double 11 shopping festival as it falls on the 11th of November, China’s annual ‘Singles Day’. …

MEMBER NEWS | Significant changes to security of payment regime in Singapore

Written by Out-Law, Pinsent Masons Significant changes to the security of payment regime in Singapore are due to come into force in the near future. The changes contained in the Building and Construction Industry Security of Payment Amendment Bill 2018 are the most extensive changes to the Security of Payment Act (SOP Act) since it became …

MEMBER NEWS | The rise of unsolicited proposals for infrastructure projects in Asia

Written by Out-Law, Pinsent Masons There has been a significant increase in the number of unsolicited proposals (USPs) for greenfield and brownfield public-private partnership (PPP) infrastructure projects in Asia over the past two years. Unlike solicited proposals where a government entity launches a formal public tender, in the case of an unsolicited proposal, it is the …

MEMBER NEWS | Philippines and ADB sign loan for Malolos-Clark railway project

Written by Out-Law, Pinsent Masons The Asian Development Bank (ADB) and the Philippine government have signed an agreement which will see $1.3 billion provided to help finance the Malolos-Clark railway project. The ADB is co-financier of the project and has agreed to provide a total $2.75bn loan facility to support construction. According to the ADB statement, …

MEMBER NEWS | US private firms to take part in Philippines’ infrastructure programme

Written by Out-Law, Pinsent Masons US ambassador to the Philippines Sung Kim has said that US is supporting the Duterte administration’s ambitious ‘build, build, build’ infrastructure programme and American private companies will take part in major infrastructure projects under this programme, according to CNN. This project has also been financed through Chinese loans and grants. The …

MEMBER NEWS | China to open finance sector up to more foreign investment in 2020

Written by Out-Law, Pinsent Masons China will remove some restrictions on foreign investment in the financial sector in 2020, a year earlier than expected, according to a statement from the China’s Financial Stability and Development Commission. The statement followed the sixth meeting of the financial stability and development committee chaired by China’s vice premier Liu He. …