As the COVID-19 pandemic continues to spread throughout the world, governments and leading financial institutions across the South and Southeast region continue to issue various initiatives, stimulus measures and relief efforts within their respective countries in an attempt to shore up the hardest hit sectors and vulnerable groups directly affected by the COVID-19 pandemic.
In addition to widespread social distancing, closure measures and citizens being directed to avoid non-essential travel, different stakeholders have also been implementing measures, such as liquidity injections for certain at-risk banks, relaxation on terms and conditions of loan repayments held by vulnerable borrowers, refinancing arrangements, deferral of tax payments and extended filing deadlines, tax reductions for certain workers and industry sectors, construction site closures and many more.
This guide brings together all of these measures, initiatives and support efforts into one consolidated publication covering jurisdictions where DFDL and its correspondent offices operate across Asia. Other issues such as force majeure in construction contracts, rental deferrals and waivers and labour contract modifications in the various countries are analyzed and compared. We hope that this publication gives you the overview that you need on all the measures, exemptions and initiatives being pursued in an effort to control and mitigate the fallout of the unprecedented COVID-19 pandemic throughout the region.