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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Dismissing Employees in Malaysia
The COVID-19 pandemic has caused mass redundancies, retrenchment, and dismissals of employees across all sectors of employment locally as well as internationally with the closure and downsizing of businesses. Now more than ever, it is important for employees to arm themselves with knowledge of their legal rights to ensure that they are not unfairly dismissed.
New UK National Security and Investment Regime
The new legislation is designed to monitor investments in companies and assets in the UK or abroad where there may be a UK national security risk. The new regime is wide-ranging to capture acquisitions of companies, minority investments, acquisitions of voting rights and acquisitions of assets, both between third parties and intra-group. This goes beyond …
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