Yuanta Asset Management v Telemedia Pacific: Security for Costs in Appeal
In an application before the Court of Appeal of Singapore, Yuanta Asset Management International Limited and Yeh Mao-Yuan, the Appellants, were ordered to provide additional security for costs in their appeal against the decisions of Patricia Bergin IJ in favor of Telemedia Pacific Group Limited and Hady Hartanto, the Respondents. Andrew Phang Boon Leong JA allowed the Respondent's application to increase the security for costs from $30,000 to $50,000, considering the Appellants' foreign residency and potential difficulties in enforcing a costs order against them.
1. Case Overview
1.1 Court
Court of Appeal of the Republic of Singapore1.2 Outcome
Application allowed; additional security for costs ordered.
1.3 Case Type
Civil
1.4 Judgment Type
Oral Judgment
1.5 Jurisdiction
Singapore
1.6 Description
The Court of Appeal addressed an application to increase security for costs in an appeal, focusing on the appellants' foreign residency and potential difficulties in enforcing a costs order.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Yuanta Asset Management International Limited | Appellant, Respondent | Corporation | Additional security for costs ordered | Lost | |
| Yeh Mao-Yuan | Appellant, Respondent | Individual | Additional security for costs ordered | Lost | |
| Telemedia Pacific Group Limited | Respondent, Applicant, Plaintiff | Corporation | Application allowed | Won | |
| Hady Hartanto | Respondent, Applicant, Plaintiff | Individual | Application allowed | Won |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Andrew Phang Boon Leong | Judge of Appeal | Yes |
4. Counsels
4. Facts
- Respondents applied for an increase in security for costs from $30,000 to $80,000.
- Appellants are not residents of Singapore and do not appear to have assets in Singapore.
- Respondents claim Appellants are evasive and likely to resist enforcement of costs orders.
- There is no reciprocal enforcement of judgments between Singapore and countries where Appellants may have assets.
- Appellants applied to stay the execution of the judgment in the court below, including costs orders.
- The trial in the court below took fewer than 10 days but was factually complex.
5. Formal Citations
- Yuanta Asset Management International Ltd and another v Telemedia Pacific Group Ltd and another, Civil Appeal No 189 of 2016 (Summons No 9 of 2017), [2017] SGCA(I) 2
6. Timeline
| Date | Event |
|---|---|
| Civil Appeal No 189 of 2016 filed | |
| Oral judgment delivered | |
| Summons No 9 of 2017 filed | |
| SIC/Suit No 2 of 2015 filed |
7. Legal Issues
- Security for Costs
- Outcome: The court ordered the appellant to furnish additional security for costs.
- Category: Procedural
- Sub-Issues:
- Quantum of security
- Enforcement of costs order
- Foreign residency of appellant
8. Remedies Sought
- Increase in security for costs
- Order for security to be furnished within 14 days
- Costs of the application
9. Cause of Actions
- No cause of actions
10. Practice Areas
- Appeals
- Litigation
11. Industries
- No industries specified
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Telemedia Pacific Group Ltd and another v Yuanta Asset Management International Ltd and another | Unknown | Yes | [2016] 5 SLR 1 | Singapore | Cited as the decision of Patricia Bergin IJ against which the Appellants are appealing. |
| Telemedia Pacific Group Ltd and another v Yuanta Asset Management International Ltd and another | High Court | Yes | [2016] SGHC(I) 6 | Singapore | Cited as the decision of Patricia Bergin IJ against which the Appellants are appealing. |
| Lee Hsien Loong v Singapore Democratic Party and others and another suit | Court of Appeal | Yes | [2008] 1 SLR(R) 757 | Singapore | Cited for the principle that security for costs balances the right of appeal with the need to deter frivolous appeals. |
| Ooi Ching Ling Shirley v Just Gems Inc | Court of Appeal | Yes | [2002] 2 SLR(R) 738 | Singapore | Cited for the principle that further security may be provided whenever it is 'just' to do so and for factors to consider when ordering security for costs against a foreign resident. |
| Menon v Abdullah Kutty | Federal Court | Yes | [1974] 1 MLJ 130 | Malaysia | Cited for the principle that an application for further security must be made promptly. |
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Order 57 r 3(4) of the Rules of Court | Singapore |
| Order 57 r 3(3) of the Rules of Court | Singapore |
15. Key Terms and Keywords
15.1 Key Terms
- Security for costs
- Solicitor's undertaking
- Foreign residency
- Reciprocal enforcement of judgments
- Dilatory conduct
15.2 Keywords
- security for costs
- appeal
- Singapore
- foreign residency
- enforcement of judgments
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Security for Costs | 90 |
| Costs | 80 |
| Civil Practice | 75 |
| Appeal | 60 |
16. Subjects
- Civil Procedure
- Costs
- Appeals