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The Malaysian government took steps to liberalise its legal market to allow foreign firms to open offices and form joint ventures with local firms. These measures, which came into effect in June 2014, signal a definitive step towards developing a more competitive market; as certain restrictions remain in place, it remains unclear what the likely impact will be.
Local firms continue to enter into foreign alliances with other players in the region, particularly in Singapore, while mid-sized firms are exploring the merger route. No clear leader has broken out among the biggest firms, although those with close ties to the government tend to act on the most sizeable deals. Notable lateral moves include disputes lawyer Nahendran Navaratnam leaving Kadir Andri & Partners to set up Navaratnam Chambers in September 2013. Tay & Partners lost a team of IP lawyers, including Linda Wang, to Zaid Ibrahim & Co in April 2014.
Thirty Nine Essex Street is set to open an office at the Kuala Lumpur Regional Centre for Arbitration (KLRCA) in October 2014, making it the first UK chambers to have a presence in the jurisdiction. This is partly a response to the recent boom in arbitration cases in Malaysia, which has been driven by steady economic growth, increased court efficiency and a government keen to promote the KLRCA as a regional hub and as a cost-effective alternative to Singapore.
Firms are gearing up for the implementation of the Goods and Services Tax (GST) in 2015, while the Personal Data Protection Act, which came into force in 2013, is keeping lawyers busy on compliance matters. The Construction Industry Payment and Adjudication Act 2012 (CIPA) came into operation in April 2014, introducing a new method of resolving construction disputes.
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(Part 1 of 4) By Gopal Sundaram
(Part 1 of 4) By Gopal Sundaram Jan 2013
Shook Lin & Bok Malaysia Legal Update Issue 1 2012
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.
VEGAS LEX, InfraONE take part in meeting of Transport Ministry Taskforce on Extending Moscow Air HubOn November 27, 2014, the Transport Ministry Investment Coordination Council's** Taskforce on Extending the Moscow Air Hub (MAH) Experience to Regional Airports* led by VEGAS LEX Partner Albert Eganyan , chairman of the InfraONE Board of Directors, held its first meeting.
Russian rating of law firms Pravo.Ru-300 recognizes VEGAS LEX as one of Russia's leading law firms, ranking us among top-tier law firms in various categories.
The VEGAS LEX Volga Directorate has organized a roundtable on important theoretical and practical aspects of challenging transactions during bankruptcy proceedings.
VEGAS LEX experts have discussed personal and corporate fraud risk management with business executives
Extended session of the Russian Union of Industrialists and Entrepreneurs' Committee for promotion oVEGAS LEX's managing partner Alexander Sitnikov held an extended final session of the Russian Union of Industrialists and Entrepreneurs' Committee for promotion of competition dedicated to the critical issues of antitrust regulation with participation of representatives of the Federal Anti m onopoly Service of Russia and the Ministry of Economic Development of the Russian Federation
On 31 October 2014, Hella KGaA Hueck & Co., one of the world's leading suppliers of lighting and electronic components for the automotive industry, announced its going public in an innovative and tailored structure. Read more...
ImmobilienScout24 expands its activities in the field of Customer Relation Management systems (CRM) and acquires FLOWFACT AG, headquartered in Cologne. FLOWFACT AG is a leading provider of software in the real estate sector in Germany. The company was founded in 1985 and has more than 120 employees at the location in Cologne. Read more...
Siemens sells its Audiology Solutions business to the Swedish investor EQT and the German entrepreneurial family Strüngmann as co-investor for €2.15bn plus an earn-out component. Due to the very attractive offer made by the two investors, Siemens has decided not to further pursue preparations for the public listing it announced in May. Siemens will invest €200m in preferred shares in the equity capital of the audio solutions business and will thereby be able to participate in the future success of the business. Read more...
Rabo Real Estate Group ("Rabo"), the real estate division of Rabobank with headquarters in the Netherlands, has sold the PalaisQuartier in Frankfurt am Main to funds managed by Deutsche Asset & Wealth Management. ECE is participating in the acquisition with a 10 % stake and will manage the "MyZeil" shopping centre. Read more...
Hengeler Mueller advises Axel Springer SE on repurchase of minority share in online classified businAxel Springer and US growth investor General Atlantic have reached a binding agreement on increasing Axel Springer's share in Axel Springer Digital Classifieds GmbH from 70% to 85% with the option to purchase the remaining 15% share. Axel Springer Digital Classifieds GmbH is a strategic partnership in which Axel Springer SE currently holds a participation of 70% and General Atlantic currently holds a participation of 30%. Read more...