The New Restriction: Combining Personal Data under the EU’s Digital Markets Act and Turkey’s Data Protection Legislation
European Union’s (“EU”) Digital Markets Act (“DMA”) entered into force on 1 November 2022. The DMA rules apply to the providers of certain pre-defined core platform services that qualify as “gatekeepers”. Most of the provisions will be applicable as of 2 May 2023 when the gatekeeper designation procedure will start. Thereupon, providers designated as gatekeepers …
“Shop Dee Mee Kuen” Offers 2023 Tax Deduction in Thailand up to 40,000 THB
According to a ministerial regulation (No. 386) issued on December 29, 2022, and a notification from the Director-General of the Ministry of Finance, a person liable to personal income tax (other than an ordinary partnership or non-juristic body of persons) is entitled to an income tax deduction under the “Shop Dee Mee Kuen 2023” program …
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Malaysian Personal Data Protection Act 2010: Does It Apply to Government Agencies?
Section 3(1) of Personal Data Protection Act 20101 (“the Act”) provides that “This Act shall not apply to the Federal Government and State Government”. So, what do Federal Government and State Government mean in this context? Section 3 of Interpretation Acts 1948 and 19672 (“IA 1948 and 1967”) then defines the Federal Government as the …
Ship Arrest and the Malaysian Admiralty Court
Maritime cases often involve issues of international law. The carriage of goods across nations separated by sea is often done by shipping lines of various nationalities. For instance, goods exported from Korea to Malaysia may be carried by a Japanese shipping line. Issues of international law abound when the sales contract apply Korean law and …
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Strategic Management of Your Inbound Mergers & Acquisitions Exercise in Malaysia
Mergers & acquisitions (“M&A”) exercises are part of a business strategy whereby two companies consolidate to become one entity (in case of a merger) or one company (or individual) purchases assets of or shares in, another company (in case of acquisition). Although the COVID-19 pandemic has strongly disrupted Malaysia’s economic environment, the long-term effects of …
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Points for Consideration of the Buyer in Due Diligence for Oil & Gas Upstream Assets Acquisition
‘Caveat Emptor: let the buyer beware’ is one of the settled maxims that applies to any buyer who is bound by actual and constructive knowledge of any deficiency in any asset to be purchased. The historical application of Caveat Emptor gave rise to the need for the potential buyer to conduct due diligence and be …
Addressing Climate Change in Your Business
On 30 April 2021, the Bank Negara Malaysia issued a guidance document on Climate Change and Principle-based Taxonomy (“CCPT”). CCPT introduces the guiding principles (GPs) intended to help financial institutions (FIs) assess and categorise economic activities (i.e. business activities) according to the extent to which they meet climate objectives and promote the transition to a …
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Regulation of Digital Asset Offering and Trading in Malaysia
The blockchain technology has introduced the world to a digital distributed record-keeping system that is nearly impossible to hack. This nascent technology underlies the very creation and the implementation of digital assets by recording their provenance. Blockchain-powered digital assets are currently being offered and traded on various platforms, and with more entrepreneurs and investors showing …
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Personal Data Breach at Government Agencies – What Measures Can Be Taken?
In the third week of May 2022, the public’s attention was once again roused over an alleged data leak involving the personal information of 22.5 million Malaysians of the age between 18 and 82 years. It was reported that such personal information was allegedly leaked from the database of the National Registration Department (“NRD”). The …
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Circular Economy in Malaysia
Circular economy (‘CE’) is one of the solutions to climate change, biodiversity loss, waste, and pollution.1 It is a resilient system that is good for business, the environment and mankind as it decouples economic activity from the consumption of finite resources.2