On February 16, 2018, the Ministry of Finance adopted Ministerial Regulation (No. 2) B.E. 2561 (2018) pursuant to its authority under section 7 of the Business Security Act B.E. 2558 (2015). The Ministerial Regulation prescribes the following four new categories of entities that are now eligible to act as security receivers under the Business Security Act:

Insurance companies in Thailand are required by the Office of Insurance Commission (OIC) to publicly disclose their financial and business operating results on their websites and other channels, with the information presented in clear, precise, reliable, and updated formats. The disclosed information should illustrate trends in each company’s business operations and enable readers to compare companies within the insurance industry.

In November 2015, the National Assembly of Vietnam issued a new Penal Code that was scheduled to come into effect on July 1, 2016, replacing the Penal Code of 1999. However, due to some inconsistencies and shortcomings in the law as drafted, its full implementation was put on hold until necessary amendments could be made. A revised version of the new Penal Code was subsequently issued in June 2017, and finally took effect this year on January 1.

As policies are initiated under the Thai government’s Thailand 4.0 initiative, laying the groundwork for economic growth over the next two decades, the country’s energy demands will continue increase. The Ministry of Energy’s Thailand Power Development Plan of 2015 (PDP2015) outlines the framework for dealing with the increase in energy needs, including an expansion of installed electricity generating capacity. The PDP2015 makes it clear that the government sees private investment playing a crucial role in driving this expansion.

Thailand has a reputation as a challenging country in which to enforce patent rights. The accuracy of this perception can be debated, but precedent cases have certainly demonstrated that Thai courts have been conservative in awarding damages to the winning party. In patent litigation cases, in particular, the courts often award damages that, in the view of the winning party, represent only a fraction of the actual damages caused by patent infringement.

In what is thought to be the first order certifying a class under Thailand’s recently enacted class action legislation, the Act to Amend the Civil Procedure Code (Number 26) B.E. 2558 (the “Act”), the Civil Court in Bangkok has issued an order in case Black No.SorWor.4/2560 against Wax Garbage Recycle Center Co., Ltd. and others, granting the lead plaintiffs’ request for the case to proceed as a class action.

Vietnam’s new Penal Code (the “New Penal Code”), which became effective on January 1, 2018, significantly bolsters Vietnam’s anti-corruption laws with respect to the private sector. The New Penal Code sets out numerous corruption-related offenses, including the giving and promising of bribes, the receiving of bribes, the “brokerage” of bribes, and embezzlement. The most significant corruption-related change in the new law involves the criminalization of private-sector bribery.

Cambodia signed an Agreement on the Validation of European Patents (“Validation Agreement”) with the European Patent Office (EPO) on January 23, 2017. This agreement will enter into force on March 1, 2018.Cambodia will be the first Asian country to validate European patents in its territory, placing it among 44 countries worldwide that allow protection with a single European patent application.