While many of us were overdosing on mandarin oranges and pineapple tarts last week, the Companies Act 2016 (“the new Act”) came quietly into force. Although its debut may have been overshadowed by the CNY celebrations, its far-reaching effects will no doubt become apparent, moving up your priority list long after the mah-jong table [...]
The Companies Commission of Malaysia has announced that it will start enforcing the Companies Act 2016 in stages from 31st January 2017. Hence, in the midst of the coming week's Chinese New Year celebrations, corporate Malaysia will be waking up to a new landscape. Below is a brief checklist to help assess your level [...]
This article is fourth in a series entitled A New Corporate Landscape: Key Changes under the Companies Bill 2015 that our clients should know about. As indicated in our previous issue, this time we will be discussing the changes relating to insolvency rescue. Key Change 9: New Corporate Rescue Mechanisms introduced Under the [...]
Malaysia’s Bankruptcy Act 1967 is the next piece of legislation in line for an overhaul. The Bankruptcy (Amendment) Bill 2016 was tabled in Parliament on 21 November 2016. In addition to a new name (the Bankruptcy Act 1967 will be renamed the Insolvency Act 1967 once the amendments are passed), some notable key changes are: [...]
This article is third in a series entitled A New Corporate Landscape: Key Changes under the Companies Bill 2015 that our clients should know about. As alerted in our previous issue of The Legal Link, the Companies Bill 2015 has received Royal Assent and shall come into force next year. We continue our [...]
Liew Siew Pen provides a brief roundup of the 2017 Budget features affecting the housing industry Malaysia Budget 2017 has successfully been tabled by the Prime Minister Datuk Seri Najib Tun Razak. For the housing industry, there are several innovative measures, including the “step-up” end financing scheme and exemption of stamp duty, which [...]
Mira Syahida explains the difference between a hire purchase transaction and credit sale transaction Credit Sale Credit sale in general is defined as purchases made by a consumer that do not require a payment made in full at the time of purchase. In Malaysia, credit sale is governed under Consumer Protection (Credit Sale) Regulations 2012 [...]
In this two part series, Liew Siew Pen explains the legal framework and procedures governing compulsory land acquisition Introduction The law of land acquisition is principally concerned with the rules governing the procedures to be followed in acquiring the land by compulsory means and with the awarding of compensation to the dispossessed landowner. The rights [...]
This article is second in a series entitled A New Corporate Landscape: Key Changes under the Companies Bill 2015 that our clients should know about. Since our first article in this A New Corporate Landscape series, the Companies Bill 2015 has received royal assent and has been gazetted as the Companies Act 2016 (from hereon [...]
As alerted in the last issue of The Legal Link, the Securities Commission (SC) had in August 2016 launched the revised Malaysian Code on Takeover and Mergers 2016 (“revised Takeover Code”), together with the accompanying Rules on Takeovers, Mergers and Compulsory Acquisition 2016 (“new Takeover Rules”). The revised Takeover Code sets out 12 general principles [...]