SIAC has published a statistical report covering 2010.
The Centre handled 198 cases in 2010, up from 160 in 2009. Of these, 88 were administered by SIAC.
20 cases (including a number of linked claims) included a request for the new Expedited Procedure introduced in the 2010 rules. 12 of these were accepted, in the majority of cases on the basis that the amount in dispute was under S$5m. Two cases also involved the appointment of an Emergency Arbitrator under the new procedure also introduced in the 2010 rules revision.
Singapore had the highest number of parties to cases by nationality (107), although 42 of the Singapore parties were in fact local subsidiaries of multi-national companies based outside Singapore. The remainder of the top ten comprised India (35), Hong Kong (23), Indonesia (22), Vietnam (15), Malaysia (14), China and the USA (13 each), Korea (11) and Japan (10).
The total amount claimed across all cases was S$1.35bn, down slightly from S$1.54bn in 2009 and S$1.6bn in 2008.
The largest number of cases handled were in the trade/commercial sector (105 cases compared with 53 in 2009). A dramatic increase which undoubtedly reflects the difficult worldwide market conditions of 2008 and 2009.
Maxwell Chambers, Singapore's arbitration centre, also recently announced that it dealt with 120 cases in 2010, an increase from 46 in 2009. The cases handled included the first hearing in Singapore administered by the International Centre for the Settlement of Investment Disputes (ICSID), as well as a number of cases from other foreign arbitral institutions, including the ICC.