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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.
Benefits-Plaza offers an Employee Benefits platform for administration and communication relating to insurable employment conditions. By using this platform, insurers and brokers achieve efficiency, time and cost savings. Regardless of where the insured schemes are hosted, all arrangements can be managed in the platform, such as all types of pension schemes, group disability, absenteeism, accidents and medical expenses. Benefits-Plaza has years of experience and built up a strong position with leading clients, including Avéro Achmea, Allianz, Aegon, Delta Lloyd and Zwitserleven.- AKD
Employers ought not to rely on the rules of intestate succession but instead prepare a will. The law firm GRP Rainer has extensive experience in business succession planning.
Partner Emma Pitcher is quoted in World Intellectual Property Review’s (WIPR) feature about the “Trade in Counterfeit and Pirated Goods: Mapping the Economic Impact Findings” report released by the OECD and the European Union Intellectual Property Office.
Germany’s Federal Cartel Office, the Bundeskartellamt, has brought a close to the so-called “Schienenfall” (rail case) and imposed a fine amounting to millions of euros on a rail company for illegal price-fixing agreements.
The new regulation concerning European Union trade marks is set to come into force on March 23, 2016. What has hitherto been known as a Community trade mark will then become a European Union trade mark.
Kinanis Opens New Office in Shanghai China
The Internet of Things (IoT) refers to the communications network linking physical objects and allowing them to exchange information without the need for human intervention. It is expected that many new businesses will be set up to create and use IoT technology, introducing new companies to the telecommunications industry, alongside the many and varied existing participants.
Chambers & Partners has published the latest edition of its guide this month, and we are pleased to announce that Karanović & Nikolić has once again been included in its list of the best legal practices in the world.
RSPP and VEGAS LEX have discussed the consequences of the planned compulsory licensing of pharmaceuticals in the context of growing competition, antitrust regulation and other restrictions in the regulation of intellectual property rights at a roundtable with the participation of FAS Russia.
In a recent statement to the press, the Slovenian Minister of Economic Development and Technology, Zdravko Počivalšek, labelled the Serbian spas as great tourism potentials and 'undiscovered gems', before continuing to declare Slovenian interest for investing in them. According to him, this investment would not be purely financial, as it would also include the investment of Slovenian industry know-how in the process of developing and upgrading the spa offer in Serbia, as a response to emerging health trends and increasing spa vacation demands.