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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.
Piracy and copyright infringements are on the increase. As such, it is all the more important to take appropriate measures to protect one’s trademarks and intellectual property.
On October 12, 2016, VEGAS LEX organized a workshop, Advertising in the pharmaceutical sector: risk matrix , for representatives of pharmaceutical companies, manufacturers of medical devices and dietary supplements.
No distinction is made between “Mac” and “Mc” for the purposes of trademark law. The General Court of the European Union (EGC) ruled that whether the syllable includes an “a” is of no great significance (Az.: T-518/13).
Anyone who includes false statements in their application documents risks having their employment contract terminated with immediate effect.
The renewable energy company OX2 has been retained to construct the Lehtirova wind farm generating 148 MW (41 wind power turbines) in Norrbotten. The customer is Aquila Capital. Foyen Advokatfirma assisted OX2 in the negotiations regarding the turbine supply agreement and the service agreement with the turbine supplier, Vestas. The partner in charge at Foyen was Jacob Hamilton.
Members of the truck cartel will have to pay a fine totaling approx. 2.9 billion euros, and things could become even more expensive if damages claims brought by clients follow.
The IFLR1000 2017 Financial and Corporate rankings were published on October 14, 2016. VEGAS LEX improved its positions in Project finance and Mergers and acquisitions. Chairman of the Board of Partners Albert Eganyan was noted as a leading lawyer in the Project finance category.
The inheritance tax reforms have still yet to be finalized. With the Bundesrat, the upper house of the German parliament, having blocked the draft legislation on July 8, no further decision is expected to be taken before the autumn.
In an action brought by CL Educate Limited, the company behind Career Launcher (popularly known as CL), India’s premier test prep institutions, the Delhi High Court has restrained competitor Think and Learn Pvt. Ltd. (popularly known as Byju’s) and its directors from infringing and misusing CL’s trademarks to lure prospective students into enrolling.
Early signs of the new shape of IP litigation under the Commercial Courts Act are being seen in the speed with which the Delhi High Court disposed of a suit filed by Tata Sons Ltd. on the second date of hearing, applying the ‘summary judgment’ provisions contained in this Act.