Benefits of MSC Status Company for Foreign Investors to Malaysia in Technology
The Multimedia Super Corridor (“MSC”) was established by the Malaysian government to speed up the growth of the country’s digital economy.1 The MSC program aims to increase productivity, drive innovation, and enhance livelihoods.2 The MSC status provides eligible ICT-related businesses, local and foreign, with a broad range of incentives, rights, and privileges for the purpose …
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Registering a Trademark in Malaysia
“Trademark” is defined as any sign capable of being represented graphically, which is capable of distinguishing goods or services of one undertaking from those of other undertakings1.
Legal Aspects of Carbon Capture Storage (CCS) Facility in Malaysia
Carbon capture and storage (“CCS”) involves capturing, transporting and storing carbon dioxide from fossil fuel power stations, energy intensive industries, and gas fields by injecting the captured greenhouse gases into underground geological formations.1
Taxpayers’ Rights Pursuant to Section 106A of Income Tax 1967
In light of the latest sitting in Dewan Rakyat, there are few proposed amendments listed under the Finance Bill 2021 in which was tabled for its first reading in Dewan Rakyat. Specifically, the noticeable amendment was on the Section 106A of the Income Tax Act 1967.
Asia’s Giant Free-Trade Agreement Enters into Force
January 1, 2021 saw the ushering in of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest multilateral trade agreement. The RCEP covers 15 states, including 10 ASEAN members, China, Japan, the Republic of Korea, Australia, and New Zealand. Their combined population is about 2.3 billion people, about 30 percent of the world total, with …
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Director’s Liabilities for Insolvent Trading Under the Companies Act 2016
The number of company insolvencies in Malaysia has turned substantial of late.1 When a company is on the brink of insolvency, directors ought to consider different stakeholders such as shareholders, creditors, and employees during the exercise of interest balancing. The Companies Act 2016 (“CA 2016”) codifies a general duty on directors’ conduct of trading in …
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LEGAL NEWS ALERT: 2022 Updates on Real Property Gain Tax “RPGT”
What is RPGT? A capital gain tax imposed when a property is sold and the seller profits from the divestment. Applicable to everyone namely Malaysians, permanent residents, foreigners and companies. Administered by Inland Revenue Board of Malaysia (Lembaga Hasil Dalam Negeri). First announced in 1976
M&A Review: Recent Technology Deals in Malaysia
According to United Nations Conference on Trade and Development (“UNCTAD”), the number of cross-border mergers and acquisitions (“M&A”) globally declined by 15% year-on-year in the first nine months of 2020. [1] However, the trend in Asia is the polar opposite, with equivalent M&A activity in the region rising by 60% year-on-year over the same period, …
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Avoiding Cartel under Malaysian Competition Law: Tips for Companies
The Malaysia Competition Commission (“MyCC”) has recently imposed financial penalties for RM1.04 million against 7 warehouse operators (“Parties”) for engaging in a price-fixing cartel. The parties were found to have infringed the prohibition under Section 4 of the Competition Act 2010 (“CA2010”) by participating in an agreement which has, as its object, the prevention, restriction …
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Participation of Foreign Contractors in Construction Projects in Malaysia
In recent years, Malaysia’s construction industry has been on the rise with a whole host of newly-announced large scale projects which is seen as ongoing momentum to the industry growth. Given the expansion scale of the market, it is unsurprising that overseas market players, particularly foreign contractors have targeted at the opportunities offered by Malaysia’s …
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