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Many Malaysian firms have reported a slow year. The weak Ringgit, under pressure from low commodity prices and a strengthening US dollar, has been blamed for a shortage of instructions by many lawyers. On the other hand, this phenomenon has been credited with a rise in investment from regional private equity houses, which has allowed some corporate practices to buck the trend.
The goods and services tax (GST) was finally implemented in April 2015. Many in the country have blamed uncertainty surrounding the introduction of this tax for a poor consumer environment. Predictably, tax lawyers have been kept busy with queries from foreign and domestic clients alike as they grapple with the consequences.
Another key development was the introduction of new guidelines by the Securities Commission, which liberalise corporate bond and wholesale product approvals through the Lodge and Launch (LOLA) framework, reducing time to market.
The Malaysian legal market is a relatively stable one. This year has seen few significant mergers or team moves. Significant exceptions include the departure of Cecil Abraham’s dispute resolution practice from Zul Rafique & Partners to form Cecil Abraham And Partners. Ong Boo Seng left Rahmat Lim and Partners to join Zaid Ibrahim & Co in February 2015, but generally speaking lateral hires were rare. The liberalisation of the legal market has yet to have a major impact on the ranking tables.
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(Part 1 of 4) By Gopal Sundaram
(Part 1 of 4) By Gopal Sundaram Jan 2013
The Employment (Amendment) Act 2012 received royal assent and became law on 30th January 2012. It has now come into operation since 1st April 2012.
Malaysian companies continue to make waves internationally by acquiring large companies abroad. Leveraging on the European debt crisis and the weak dollar, these companies have boldly made their mark on a global scale with impressive deals. Cross-border acquisitions are increasing trend in the Asian economic hot spots, with companies in China and India spearheading it. The consistently strong uptrend in foreign acquisitions and the increasing success of the same by China and India for the past few years has spurred growing interests of Southeast Asian companies to extend their reach to other continents.
The Construction Industry Payment and Adjudication Act of Malaysia received royal assent and became law on 18th June 2012.
PRESUMPTION OF GUILT – REMEDY OR JEOPARDY? Netizens in Malaysia now share a common fear and feeling of uneasiness following the swift passing of the Evidence (Amendment) (No.2) Bill 2012 in May 2012, which amends the Evidence Act 1950.
Malaysia’s Felda Global Ventures Holdings Berhad (“FGVH”) is a global agricultural and agri-commodities company, with operations in ten countries across the globe. According to Frost & Sullivan Malaysia Sdn Bhd, FGVH is the third largest oil palm plantation operator in the world based on planted hectarage in 2011. FGVH currently operates 343,521 hectares of oil palm plantation estates in Malaysia that produced 5.2 million metric tonne of fresh oil palm fruit bunches in 2011.
The announcement of the Malaysia Airlines (MAS)-AirAsia collaboration on 9 August 2011 was questioned by many quarters.
Money Services Business Act 2011 (the “Act”) is an act to provide for the licensing, regulation and supervision of money services business. The Act defines money services business as money-changing business, remittance business and whole sale currency business.
Since 2010, Malaysia has been involved in the Trans-Pacific Partnership (“TPP”) talks along with Australia, Brunei, Chile, New Zealand, Peru, Singapore, United States and Vietnam. The proposed partnership represents the latest multilateral free trade agreement that aims to further liberalise the economies of the Asia-Pacific region.
Advertising for pharmaceuticals is impermissible if the content of a promotional statement is not based on sound scientific evidence. That was the verdict of the Oberlandesgericht Koblenz (OLG) [Higher Regional Court of Koblenz].
The European Commission has expanded its proceedings against an internet company on account of possible infringements of antitrust law. The latter is said to have potentially abused its dominant market position.
Family disputes can become deeply entrenched and are then no longer capable of being resolved. This can give rise to the desire to disinherit one’s relatives. For this to happen, a will needs to be prepared.
According to a ruling of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, discontinuing life-sustaining measures can render the personal responsible unworthy of inheriting in the absence of a living will (Az.: IV ZR 400/14).
Declarations of discontinuance are a possible consequence of violations of competition law. They can be tied to a condition, but for this to happen strict requirements need to be met.
AKD advises INKEF Capital on the investment in NightBalance- AKD
Enjoying one’s twilight years abroad is a dream that an increasing number of Germans are pursuing. However, it is important to bear in mind that this may affect the distribution of one’s estate.
Everything has its limits, including negotiations concerning a wage increase. As demonstrated by a ruling of the Landesarbeitsgericht Schleswig-Holstein (LAG) [Regional Labour Court of Schleswig-Holstein], these can even end with the dismissal of the employee.
It is particularly easy for disputes to arise in cases involving communities of heirs. Anyone who refuses to accept an official or notarial letter in the context of inheritance disputes may end up drawing the short straw.
Commercial court in Zajecar adopted the PPRP of RTB BOR Group - VALUE OF RESTRUCTURED debt exceeding 1.2 billion EUR