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Council Member’s Message - April 2022
Dear Fellow SCL(S) members,
With the progressive lifting of most Covid-19 restrictions in Singapore, as well as country borders slowly opening up with safety measurements in place, we are hopeful and looking forward to resuming more normal lives, enjoying gatherings of family and friends with all caution in mind. This provides solace and is joyful news to many of us.
Another exciting and celebratory piece of news is that, since SCL(S) is celebrating its 20th Anniversary this year, we have rolled-out a series of exciting events coming your way.
In this edition of the newsletter, you will find an informative article contributed by Joanna Seetoh from Harry Elias Partnership LLP, titled ‘Revisiting the Liquidated Damages Clauses’ where Joanna explores the principles of liquidated damages in the decisions of Singapore and English courts, examines the cases and concludes on the importance of clear, unambiguous drafting of contracts, so that the liquidated damages clause would serve its purpose and enable each party to better able manage the risk of delay in the completion of the project. You will also find an article contributed by Justyn Jagger and Sinyee Ong from Sharpe & Jagger LLC, titled ‘Establishing ‘Loss’ and ‘Damage’ when pursuing a claim under a Construction All-Risks Insurance Policy’, which is a follow up from the webinar they presented in May 2021.
On 31 March 2022, the SCL(S) organised a webinar titled ‘Understanding the Construction Contract in a Project Financing’ chaired by Mr. Ashok Kumar Rai of Cairnhill Law LLC; featuring Mr. Alex Wong of Hogan Lovells Lee & Lee, who shared and addressed some of the basics of project financing and how a construction contract fits into a wider project financing structure, the approaches to risk allocation, security and the interaction with other project parties.
The SCL(S) also hosted another webinar, titled ‘Project Success or Failure – What Complexity Theory Can Tell Us About Risk in Construction’, which was chaired by Mr. Toh Chen Han of Pinsent Masons MPillay LLP, featuring Dr. Sean Brady of Brady Heywood who examined how the world of complex systems thinking can provide us with a different perspective on how we set up, deliver, and manage risk in construction projects.
We were glad to receive feedback that both webinars were insightful and informative.
We have another upcoming webinar on 25 May 2022, titled ‘Financial Instruments in Construction Projects’ chaired by Mr. Samuel Widdowson of Accuracy; featuring Mr. David Platt and Ms. Jia Lin Ho of Pinsent Masons MPillay who will examine performance bonds, advance payment & retention bonds, parent company guarantees and letters of credit (both payment and standby) in the context of construction projects with reference to contractors’ overall financial management. We are sure you would not want to miss this webinar in which the speakers will provide a brief review of hedging projects and their possible relevance.
Do look out for our announcements on our website, LinkedIn and SCL(S) News & Webinars emails, and register online for the webinar(s) or write to us if you want to know more about SCL(S).
Please stay safe, stay healthy and on behalf of the SCL(S) Council. We thank you for your continued support and we hope you enjoy this newsletter.
Alexis Chan
Council Member, SCL (Singapore)
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We were honoured to have a longstanding friend and supporter of the Society, Dr Sean Brady, address members and guests at our mid-week evening webinar on Wednesday 20 April. Dr Brady’s talk was titled “Project Success or Failure – What Complexity Theory Can Tell Us About Risk in Construction.
We had the privilege of Alex Wong from Hogan Lovells Lee & Lee speaking on the fascinating topic of project financing in the context of large infrastructure projects. Alex Wong presented on the same topic in 2018 and his seminar was so well-received that the SCL(S) decided to ask him to deliver the presentation again. As before, Alex delivered a riveting topic on the intricacies of project financing and the numerous stake holders involved. The audience learned that the concept...
