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Winding-Up a Company: It Now Takes More to Wind-Up a Company, in the Same Amount of Time
Shearn Delamore & Co., January 2021

Background Section 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice...

Covid-19: Further Relief for Contractual Parties through an Extension of Part II of the Covid-19 Act
Shearn Delamore & Co., January 2021

Background On 23 October 2020, the Malaysian government gazetted the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (Covid-19) Act 2020 (“Covid-19 Act”). This Act, as evident from its name, is meant to provide temporary measures to ease the impact of Covid-19 on various sectors and industries in Malaysia. Areas addressed by the Covid-19 Act include inability to perform contracts, insolvency and limitation periods...

Kuantan Port Consortium Sdn Bhd v MT HE XIE HAO v Chem-Specialties Sdn Bhd (Suit No. WA-27NCC-77-10/2019)
Shearn Delamore & Co., January 2021

In an admiralty action, can an intervener, not being the proper defendant, apply to set aside a warrant of arrest of a vessel on non-traditional grounds. The traditional grounds of setting aside warrant of arrest are, inter alia: in excess or lack of jurisdiction...

Brexit and Your Marks in the UK: A Brief Report
Shearn Delamore & Co., January 2021

The Brexit transition came to an end on 31 December 2020. Moving forward, the EU rules of law and legal system will no longer bind the UK, including for intellectual property matters...

Power to the Contract
TSMP Law Corporation, January 2021

A recent court of appeal decision has definitively clarified the test for assessing the enforceability of liquidated damages clauses in Singapore. Contracting parties intending to incorporate liquidated damages clauses must be mindful of the type of damages that may be recovered in the event of default, especially when exercising a contractual right to terminate the contract...

Tax Highlights of Malaysia’s Budget 2021
Shearn Delamore & Co., January 2021

In this article, Yeoh Yu Xian sets out the key highlights from Malaysia’s 2021 budget. INTRODUCTION On 6 November 2020, the Malaysian Minister of Finance, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, unveiled the Malaysian Budget 2021 (“Budget”). This Budget’s allocation of RM 322.5 billion is the largest on record for the country1...

Orchard Circle Sdn Bhd v Pentadbir Tanah Daerah Hulu Langat: Section 8 of the Land Acquisition Act 1960
Shearn Delamore & Co., January 2021

A case note by Rajasingam Gothandapani and Lynnette Tan Hui Ling. INTRODUCTION It is trite that a declaration in Form D under section 8(1) of the Land Acquisition Act 1960 (“LAA”) lapses and becomes ineffective by effluxion of time if no award is made within two years from the date of its publication in the Gazette...

The Proposed Regulatory Framework for Digital Banks in Malaysia
Shearn Delamore & Co., January 2021

In this article, Goh Hui Wen examines the proposed regulatory framework for digital banks in Malaysia. INTRODUCTION The global financial services industry has seen a momentous evolution over the past decades driven by new technology innovations. As customers gravitate towards digital experiences and products, the transformation of the traditional banking system has become inevitable...

Pre-Trial Injunction - Preservation of the Status Quo
Shearn Delamore & Co., January 2021

A case note by Elyse Diong Tze Mei. INTRODUCTION The recent case of Bellini Resources (M) Sdn Bhd v Mohamad Zaini bin Md Taha1 sets out the criteria for the preservation of the status quo pending trial where the ownership of a trade mark is in dispute...

Enforcement of Section 17A of the MACC Act - How Does it Affect an Employer
Shearn Delamore & Co., January 2021

In this article, Benedict Ngoh Ti Yang looks at the new section 17A under the Malaysian Anti-Corruption Commission (“MACC”) (Amendment) Act 2018.   INTRODUCTION Pursuant to the recent Legal Notification PU(B) 247/2020, the Malaysian Anti-Corruption Commission (“MACC”) (Amendment) Act 20181 has come into force effective 1 June 2020. The principal effect of the MACC (Amendment) Act 2018 is the introduction of section 17A under the MACC Act...

Enhanced Rights Issue Framework: Temporary Relief Measures to Facilitate Fund Raising by Listed Issuers.
Shearn Delamore & Co., January 2021

In this article, Gan Shao Qi discusses some of the recent measures announced to facilitate fund raising by listed issuers through a rights issue in Malaysia to assist companies and businesses that require access to immediate funding due to Covid-19...

(WEBINAR) The Enforcement Challenge - Enforcing Arbitral Awards & Foreign Judgments in Indonesia, Malaysia & Singapore.
Shearn Delamore & Co., January 2021

Dear Clients and Friends  Drew Network Asia (comprising Drew & Napier LLC from Singapore, Makarim & Taira S. from Indonesia, and Shearn Delamore & Co. from Malaysia) is delighted to present a joint webinar with Omni Bridgeway, a leading global disputes finance company, on the enforcement of arbitral awards and foreign judgements in Singapore, Malaysia, and Indonesia. Details are set out below:   Date: Thursday, 14 January 2021 Time: 3.00 pm to 4.30 pm (SG/MY time) 2...

Rome was not Built in a Day – It’s Never Too Early to Review your Personal Data Protection Practice in China!
Deacons, January 2021

Did you know? The long-awaited draft of the Personal Data Protection Law (PDPL) was released for public consultation in October 2020. If enacted, it will be the first comprehensive law setting out the overall legal framework, as well as the obligations of different stakeholders throughout the entire lifecycle of personal data in China. Why does this matter to you? The data protection regime in China has developed rapidly in recent years and is stricter than one might think...

Special Arrangement for Visa Extension Application from Overseas
Deacons, January 2021

In general, individuals admitted into Hong Kong under various types of visa may apply for extension of stay within four weeks before the date of expiry, and they must be physically present in Hong Kong at the time of submitting the application and the collection of visa label upon approval. Due to the ongoing pandemic across the globe, this restriction has brought extra hurdles to a lot of applicants who are employees of companies and/or members of families...

COVID-19 Government Initiatives & Support in Asia – December 2020
DFDL, January 2021

As this challenging year draws to a close, the COVID-19 pandemic has wrought unprecedented disruption, economic uncertainty, and ushered in never-before seen travel restrictions throughout the world...

Cambodia: Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy (Round 7)
DFDL, January 2021

On 23 December 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 7’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. The RGC in their press release noted the positive update with respect to the development of a COVID-19 vaccine and the fact that Cambodia has to date managed to effectively control COVID-19...

Cambodia: Deadline for 2021 Foreign Employee Quota Applications Now Extended to 31 January 2021
DFDL, January 2021

On 9 December 2020, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 041/20 on Extending the Deadline for the 2021 Foreign Employee Quota Application (“Notification”). Through the Notification, the MLVT has delayed the submission deadline for 2021 foreign employee quota applications until 31 January 2021, being two months after the original deadline...

2021: In Which We Rise from the Ashes of the Pandemic - Goodbye, Annus Horribilis?
TSMP Law Corporation, January 2021

If anyone had told you that 2020 would be a year in which you are virtually guaranteed a lie-flat bed in economy class, businesses instructed employees not to come into the office, and budget supermarket Sheng Siong’s shares outperformed bank blue chip DBS’s, you would have sent the chap to have his head checked.But as the new coronavirus spread worldwide, the ensuing Covid-19 pandemic forced billions into lockdown...

Shearn Delamore & Co. Legal Update December 2020
Shearn Delamore & Co., January 2021

FINANCIAL SERVICES BURSA MALAYSIA SECURITIES EXPANDS MARKET MAKING FRAMEWORK Bursa Malaysia Securities Berhad (“Bursa”) has, via Participating Organisations’ Circular No. R/R 13 of 2020 issued on 24 November 2020, made amendments to the rules and directives of Bursa in relation to the expansion of the market making framework...

Finance & Loan Security Rights in Real Estate in the COVID-19 Era 10 Key Questions and Answers - Focus on Bangladesh
DFDL, December 2020

This edition of our Q&A series focuses on real estate financing and loan securitization issues in Bangladesh. Given the continuing global uncertainty and economic disruption caused by COVID-19, investors are increasingly concerned about their ability to secure, dispose or otherwise transfer assets that are often now subject to revamped or revised local rules and regulations...

Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy (Round 7)
DFDL, December 2020

On 23 December 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 7’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. The RGC in their press release noted the positive update with respect to the development of a COVID-19 vaccine and the fact that Cambodia has to date managed to effectively control COVID-19...

Finance & Loan Security Rights in Real Estate in the COVID-19 Era 10 Key Questions and Answers - Focus on Lao PDR
DFDL, December 2020

This edition of our Q&A series focuses on real estate financing and loan securitization issues in the Lao PDR. Given the continuing global uncertainty and economic disruption caused by COVID-19, investors are increasingly concerned about their ability to secure, dispose or otherwise transfer assets that are often now subject to revamped or revised local rules and regulations...

Tax Issues and Practical Solutions (T.I.P.S.) for December
SyCip Salazar Hernandez & Gatmaitan, December 2020

The SyCipLaw T.I.P.S. for December covers the following tax issues: 1. When is the extended deadline to avail of the benefits of the Bureau of Internal Revenue’s Voluntary Assessment and Payment Program for Taxable Year 2018 (VAPP)? The Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 33-2020 (RR No...

The 2020 Investment Priorities Plan includes “Activities Relating to the Fight Against COVID-19 Pandemic”
SyCip Salazar Hernandez & Gatmaitan, December 2020

The 2020 Investment Priorities Plan (2020 IPP) has been promulgated by the Philippine President under Memorandum Order No. 50 dated November 18, 2020 (https://www.officialgazette.gov.ph/downloads/2020/11nov/20201118-MO-50-RRD.pdf), and it became effective on December 6, 2020. The IPP is issued pursuant to the Omnibus Investments Code of 1987 (Executive Order No. 226), as amended (Omnibus Investments Code)...

BSP Issues Guidelines on the Establishment of Digital Banks
SyCip Salazar Hernandez & Gatmaitan, December 2020

The Bangko Sentral ng Pilipinas (BSP, the Central Bank of the Philippines) has issued Circular No. 1105, Series of 20201 (Digital Bank Circular) dated December 2, 2020 to provide guidelines on the establishment of digital banks. This circular took effect on December 23, 2020 and was promulgated pursuant to the Monetary Board’s authority under Section 3.2(g) of the General Banking Law of 2000 to create other classes of banks...

 

 

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