Asia Pacific News: A JD Supra Legal Reader

For your reference, here’s a quick look at recent legal advisories and updates covering the Asia Pacific region, written by leading, global law firms:

Baker & McKenzie: Asia Pacific Tax Newsletter – May 2012 (Baker & McKenzie Australia)

Covering Australia, China, India, Malaysia, Singapore, Taiwan, Thailand and Vietnam: “…China has released the details of a long-awaited pilot program for the reform of its turnover tax regime that will result in the merger of value-added tax and business tax into a single tax, with implications for domestic and foreign suppliers of goods and services in China” Read on>>

Innovation to Industry Japan Initiative (Baldwins IP)

“The specific aim of the Innovation to Industry Japan Initiative is to develop commercial links with Japan in order to enable New Zealand science-based products to enter the Japanese market. Focus is on biomedical, health and functional food as New Zealand expertise in these areas is recognised in Japan…” Read on>>

Latest Trends in Cloud Computing in China (Dechert LLP):

“Censorship is and will likely remain a major stumbling block for the development of internet services in China, including cloud computing. For example, Google Docs, a well-known cloud-based program, is from time to time totally inaccessible in China. Technically, cloud services supported by servers outside China can (and do) work in China, but the risk of being blacklisted can create major continuity issues for the business…” Read on>>

Hong Kong Court of Appeal Overturns an Order of the Court of First Instance to Set Aside ICC Arbitration Award (White & Case LLP):

“The ICC arbitration began in 2006. The claimant, Grand Pacific Holdings Ltd (“GPH”) claimed from the respondent, Pacific China Holdings Ltd (“PCH”) a sum of US$40 million under an agreement executed by the parties. The Tribunal rendered an Award in August 2009 ordering PCH to pay GPH a sum in excess of US$55 million together with interest…” Read on>>

Listing in Hong Kong: The Process for Delaware Companies (Pillsbury):

“In February 2012, the Hong Kong Stock Exchange (HKEx) issued Listing Decision HKEx-LD24-2012, which permits companies incorporated in Delaware to list on HKEx if they comply with certain special requirements. These special requirements are in addition to HKEx’s basic quantitative and other listing requirements, and are generally applicable to companies in ‘acceptable’ jurisdictions but not incorporated in Hong Kong or a ‘recognized jurisdiction’ (currently mainland China, Bermuda and the Cayman Islands)…” Read on>>

China’s MOFCOM Grapples With Open Source Issues In Google-Motorola Deal (Sheppard Mullin):

“MOFCOM noted that Google’s operating system, Android, occupied 73.99 percent of the market share in China during the fourth quarter of 2011, while Nokia’s Saipan had 12.53 percent and Apple’s iOS had 10.67 percent, such that Google’s Android dominated the market of operating systems. For comparison purposes, the DOJ found that for the US market at the end of 2011, Google’s Android accounted for approximately 46 percent of the U.S. smartphone operating system platform subscribers…” Read on>>

Morrison v National Australia Bank and its Progeny: US Capital Markets Become Safer and More Hospitable for Non-US Corporates (McDermott Will & Emery):

“In response to the Supreme Court’s decision in Morrison, the US Congress reacted quickly to reaffirm extraterritorial application of the US anti-fraud provisions in the context of enforcement and directed the US Securities and Exchange Commission (the SEC) to solicit public comment and publish a study to determine the extent to which private rights of action under the US anti-fraud provisions should be extended extraterritorially…” Read on>>

Congressional Letter to the White House Voices “Strong Support Of Buy American Procurement Policies” in Context of Ongoing Trans-Pacific Partnership Agreement Negotiations (King & Spalding):

“The United States is one of nine countries currently involved in TPP negotiations, along with Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam. Other countries, including Canada, Japan, and Mexico, have been rumored as potential candidates for joining the TPP, but the addition of new members also has been widely seen as a factor that would complicate the completion of any agreement by the end of 2012…” Read on>>

M&A Transactions in Vietnam – Vietnam Investment Report (Gregory Crovo):

“According to the Institute of Mergers, Acquisitions and Alliances (‘IMAA’), there were 413 M&A transactions in Vietnam in 2011, valued at approximately US$4.7 billion. These figures represent a 7% increase in the number of transactions from 2010, but more impressively, the value of these deals more than doubled (+103%), and is the highest value of M&A transactions ever in Vietnam…” Read on>>

Baker & McKenzie: Pharmaceuticals & Healthcare Asia Pacific Newsletter – 1st Quarter 2012 (Baker & McKenzie Australia):

“In Australia, there is no express legal prohibition on the provision of gifts to HCPs by pharmaceutical companies. However, the Medicines Australia Code of Conduct, a voluntary industry code, commands that no gifts, benefits in kind or pecuniary advantage should be offered or given to HCPs as an inducement to recommend, prescribe, dispense or administer a pharmaceutical company’s product (e.g. gift vouchers, tickets to sporting events, cash or cash equivalents.)…” Read on>>

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