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Legal Developments in Malaysia

• Call for AML Regulation for Cryptocurrencies

  Ever since the creation of Bitcoin, cryptocurrencies have been applauded and welcomed for constituting an innovative method of payment without any recourse to financial institutions and their entailing bureaucracy.  While honest individuals rejoiced at cryptocurrencies’ legitimate benefits; ranging from an increased degree of privacy and confidentiality to less transactional costs, cybercriminals saluted the decentralised networks and perceived anonymity behind cryptocurrencies for presenting them with the perfect crypto cleansing opportunity to launder money in an unprecedented and largely unregulated sector in the financial industry.
  - Gauci-Maistre Xynou

• Office for Competition Issues its First Commitments Decision

  The Office for Competition has adopted what appears to be its first commitments decision, in a case where it raised concerns about exclusivity agreements lasting for five years or more.
  - Mamo TCV Advocates

• The Financial Services Act 2012

  (Part 1 of 4) By Gopal Sundaram
  - Abdullah Chan

• The Islamic Financial Services Bill 2012

  (Part 1 of 4) By Gopal Sundaram Jan 2013
  - Abdullah Chan

• Amendments to the Employment Act 1955

  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.
  - Raja, Darryl & Loh

• Malaysian Corporations Making Headway in the Global M&A Scene

  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.
  - Azmi & Associates

• Adjudication in Malaysia – the Construction Industry Payment and Adjudication Act 2012

  The Construction Industry Payment and Adjudication Act of Malaysia received royal assent and became law on 18th June 2012.
  - Raja, Darryl & Loh

• EVIDENCE / CYBER LAW

  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.
  - Zul Rafique & Partners

• FGVH's IPO - Second Largest in the World after Facebook

  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.
  - Azmi & Associates

• Competition...Friend or Foe?

  The announcement of the Malaysia Airlines (MAS)-AirAsia collaboration on 9 August 2011 was questioned by many quarters.
  - Zul Rafique & Partners