Myanmar’s Directorate of Investment and Company Administration (DICA) has issued new documentation requirements for Myanmar-registered companies making changes to their shares or directors. Effective January 8, 2025, the DICA will only approve such changes when accompanied by specific supporting evidence as required under the Myanmar Companies Law 2017 (MCL). Key Changes and Requirements For share transfers, companies must submit the required application form, along with the following documents: Resolution from the company’s board of directors approving the change of shares or share transfer. Copy of the share-transfer agreement signed by both parties, with proof of stamp duty payment. For director changes, companies must submit the required application form, along with the following documents: Copy of new director’s ID or passport. Shareholder resolution approving the change of the director(s). New director’s consent to act (for appointments) or signed resignation (for departures) In addition to announcing the new documentation requirements, the DICA also reminded companies of an April 2023 announcement that requires companies to submit certain other required documentation within two months of establishment to the DICA by email. Next Steps Companies planning share transfers or director changes must ensure they prepare the complete documentation package before submission to the DICA. For more information on this announcement or assistance with corporate secretarial matters, please contact Tilleke & Gibbins at [email protected].

The State Bank of Vietnam’s Circular No. 50/2024/TT-NHNN regulating safety and security for the provision of online services in the banking sector (“Circular 50”), issued on October 31, 2024, took effect on January 1, 2025, with delayed effectiveness for certain provisions on (i) network, communication, and security systems, online banking application software, and mobile banking application software (July 1, 2025); (ii) transaction confirmation for payment transactions conducted via the straight-through processing method (January 1, 2026); and (iii) authentication forms and reporting obligations (July 1, 2026). The cybersecurity situation in Vietnam is complicated, and the banking and finance sector has been one of the top targets of high-tech criminals. Circular 50 seeks to enhance user protection by expanding the technical requirements to more services in the banking sector as well as standardizing how transactions are authenticated. Expanded Scope of Services Covered Previous regulations on safety and security of online services in the banking sector only covered banking services and intermediary payment services. Circular 50 expands the scope to include other services of credit institutions and foreign bank branches such as credit information services, foreign exchange services, securities depository services, and services related to factoring and letters of credit, which now need to comply with technical requirements and standards for online services such as firewalls and DMZ network barriers. Risk-Based Approach to Authentication Circular 50 sets out standards for payment transactions and card transactions by: Classifying various online transactions based on the type of client, the purpose of the transfer, the value of the specific transaction, and the total value of certain transactions during the day; and Applying various types of authentication for the corresponding types of online transactions, e.g., using passwords or PINs for small-value online transactions, and using OTPs (through SMS, voice, or email), biometric matching, or e-signatures for

Project finance specialists from Tilleke & Gibbins’ Bangkok office have once again contributed the Thailand chapter to the latest edition of The Legal 500’s Project Finance guide. Part of The Legal 500’s Country Comparative Guides series, the publication serves as a valuable resource for investors and businesses seeking detailed insights into project finance in key jurisdictions worldwide. Each Q&A-style chapter offers comprehensive guidance on the legal frameworks impacting various aspects of project finance, including: Ownership structures and corporate governance; Security interests, regimes, and enforcement; Regulatory requirements and consents; Foreign exchange considerations; Environmental, social, and governance (ESG) issues; Public-private partnerships; Foreign judgments; Tax considerations; Common funding structures; and Insurance law principles. In addition to the Thailand chapter, Tilleke & Gibbins has contributed the Vietnam chapter to the guide. The Thailand chapter is available as a PDF through the link below. The full guide can also be accessed for free on The Legal 500 website.

Tilleke & Gibbins’ project finance team in Vietnam has contributed the Vietnam chapter to the 2025 edition of The Legal 500’s Project Finance guide. As part of The Legal 500’s Country Comparative Guides series, this publication provides businesses and investors with crucial information about the legal and regulatory aspects of project finance across jurisdictions worldwide. The Q&A-format chapters deliver detailed insights into the legal regimes governing an array of project finance topics, including: Ownership structures and corporate governance; Security interests, regimes, and enforcement; Regulatory requirements and consents; Foreign exchange considerations; Environmental, social, and governance (ESG) issues; Public-private partnerships; Foreign judgments; Tax considerations; Common funding structures; and Insurance law principles. Tilleke & Gibbins also prepared the Thailand chapter for this edition. The Vietnam chapter is available as a PDF via the button below, with the full guide freely accessible on The Legal 500 website.