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Firm: Shearn Delamore & Co.

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Shearn Delamore & Co. Legal Update August 2020 (Tax and Revenue)
Shearn Delamore & Co., September 2020

Income tax The following public rulings and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website: i. Tax Treatment of Research and Development Expenditure Part I – Qualifying Research and Development Activity (Public Ruling No. 5/2020) issued on 13 August 2020; ii. Tax Treatment of Research and Development Expenditure Part II – Special Deductions (Public Ruling No. 6/2020) issued on 13 August 2020; iii...

Shearn Delamore & Co. Legal Update August 2020 (Financial Services)
Shearn Delamore & Co., September 2020

Bursa Malaysia seeks Feedback on Proposed Reduction in Public Spread On 23 July 2020 Bursa Malaysia Berhad ("Bursa") released Consultation Paper No. 2/2020 Proposed Amendments to the Main Market and ACE Market Listing Requirements in relation to Public Security Holdings Spread ("Consultation Paper")...

Covid-19 Bill 2020 - Affecting Housing Developers and Homebuyers
Shearn Delamore & Co., August 2020

On 25 August 2020, “The Temporary Measures For Reducing The Impact of Coronavirus Disease 2019 (Covid-19) Bill 2020” (“Covid-19 Bill 2020”) was passed by the Dewan Rakyat. When will the Covid-19 Bill 2020 come into operation? The Covid-19 2020 Bill comes into operation on the date published in the Gazette. However, it will have a retrospective effect and will be deemed to have come into operation on the first day of the Movement Control Order i.e...

Covid-19 Bill 2020 – An Employment Perspective
Shearn Delamore & Co., August 2020

The Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (Covid-19) Bill 2020 (“the Covid-19 Bill”) was tabled for its first reading in the Dewan Rakyat of Malaysia on Wednesday, 12 August 2020...

Shearn Delamore & Co. Legal Update July 2020 (Financial Services)
Shearn Delamore & Co., July 2020

Extension on short-selling ban The Securities Commission Malaysia (“SCM”) and Bursa Malaysia Securities Berhad (“Bursa Malaysia”) announced a further extension, until 31 December 2020, of the existing suspension for the suspension of all short selling, other than permitted short selling, on the stock exchange of Bursa Malaysia. The scope of the ban remains the same...

Shearn Delamore & Co. Legal Update July 2020 (Intellectual Property)
Shearn Delamore & Co., July 2020

International Filings via Madrid ProtocolOn 27 December 2019, Malaysia acceded to the Madrid Protocol, opening Malaysia up to the international trademark filing system. Parallel to the accession, as many are aware, the new Trademarks Act 2019 also came into force on the same date, establishing, amongst others, the law and practical guidelines for the international filing system.With over 1...

Shearn Delamore & Co. Legal Update July 2020 (Tax and Revenue)
Shearn Delamore & Co., July 2020

Tax and Revenue Income tax The following technical guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website: Garis Panduan Mengenai Duti Setem ke atas Suratcara Pindah Milik Saham bagi Saham dalam Syarikat yang Tidak Tersenarai di Bursa Malaysia Berhad (available in Malay language only) — issued on 23 June 2020 to replace Technical Guideline dated 6 November 2019;Garis Panduan Permohonan untuk Kelulusan Ketua Pengarah Hasil Dal

Industrial Court Rules LIFO is Not Applicable to a Retrenchment Involving Skilled Employees
Shearn Delamore & Co., July 2020

In two recent Awards of the Industrial Court involving the retrenchment of 7 Claimants, Mizman Bin Ngadinan & Others v City Facilities Management Sdn Bhd (Award 989 of 2020) and Roslan Bin Mohd Tahir & Others v City Facilities Management Sdn Bhd (Award 990 of 2020), the Industrial Court found that the LIFO principle was inapplicable where the selection criteria and process adopted by the Company involving specialised skills sets and the competency of the employees was upheld...

Importance of Conducting a Well-Executed Domestic Inquiry
Shearn Delamore & Co., July 2020

Introduction In the recent Industrial Court Award between Malaysia Airports Sdn Bhd and Suhaimi bin Mohammad Haniff [Industrial Court Award 895 of 2020], the Industrial Court had underlined the significance of a well-executed Domestic Inquiry where the evidence of a witness during a domestic inquiry was given sufficient weight in adjudicating the matter.  Brief material facts  In the present matter, the Claimant was dismissed for assisting his colleague, Ms...

Discharging Cargo from Ships that are Under Arrest
Shearn Delamore & Co., July 2020

A ship may be arrested in Malaysia as long as the claim of the arresting party falls under any of the provisions of Section 20(2) and Section 21 of the Supreme Court Act 1981 of England and Wales.Any party that wants to arrest a ship in Malaysia must strictly comply with Order 70 of the Rules of Court 2012 (the ROC 2012), which governs admiralty proceedings in the High Court.On the arrest of a ship, it will not be allowed to work without the sheriff's express permission...

TMT And Data Compliance & Cybersecurity: Personal Data Protection in the Age of Covid-19
Shearn Delamore & Co., July 2020

With the implementation of the Movement Control Order (MCO) since 18 March 2020, the Conditional Movement Control Order (CMCO) as well as the Recovery Movement Control Order, the Government has issued a number of Standard Operating Procedures (SOPs) to control the spread of the Covid-19 pandemic...

A Look at Issues Faced by Employers as a Result of the Covid-19 Pandemic and Ensuing Movement Control Order
Shearn Delamore & Co., July 2020

Introduction The Covid-19 global pandemic which has swept the globe and caused many countries to introduce various degrees of lock down measures has given rise to various issues and scenarios which an employer must deal with and manage. This is no different for employers in Malaysia where the Government has implemented the Movement Control Order (“MCO”) since 18 March 2020 which saw the economic activity brought to a halt...

Relying on the Doctrine of Frustration During a Pandemic
Shearn Delamore & Co., July 2020

In this article, Aisyah Muhammad discusses whether a party to a contract can rely on the doctrine of frustration in the event of the non-performance of its contractual obligations during the Covid-19 pandemic. Introduction The emergence of the highly contagious Covid-19 virus has without a doubt caused major disruptions across various industries including transportation, retail, tourism and oil and gas...

Likas Bay Precinct Sdn Bhd v Bina Puri Sdn Bhd: A Case Note
Shearn Delamore & Co., July 2020

Background factsThe respondent, Bina Puri Sdn Bhd (“Bina Puri), obtained an adjudication award dated 31 December 2016 (“Adjudication Award”) against the appellant, Likas Bay Precinct Sdn Bhd (“Likas”), pursuant to the Construction Industry Payment and Adjudication Act 2012 (“CIPAA 2012”) whereby Likas had to pay Bina Puri certified sums amounting to RM16,439,628.24 (“Adjudicated Sum”)...

Banking on Green: A Push Towards Climate-Conscious Financial Activity
Shearn Delamore & Co., July 2020

In December 2019, Bank Negara Malaysia (BNM) issued a discussion paper on “Climate Change and Principle-based Taxonomy”1. The discussion paper highlights the risks arising from climate change and environmental degradation to the economy. It outlines guidance for financial institutions in identifying these risks and classifying economic activities that contribute positively to climate change objectives. According to BNM, 10.3% of the total assets of banks and 24...

Changes under the Franchise (Amendment) Act 2020
Shearn Delamore & Co., July 2020

The Franchise Act 1998 (FA) has been the main source of legislation which governs franchise businesses and the relationship between a franchisor and franchisee in Malaysia for more than 20 years. On 3 December 2019, the Franchise (Amendment) Bill 2019 was passed by the Lower House of the Parliament and received Royal Assent on 20 February 2020. Subsequently, the Franchise (Amendment) Act 2020 (the Amendment Act) was gazetted on 6 March 2020...

Deductibility of Expenses Incurred by a Business in its Restructuring or Retrenchment Exercise
Shearn Delamore & Co., July 2020

Faced with the current Covid-19 pandemic and the consequential economic ramifications, it is inevitable that affected businesses are put under increasing financial strain. Affected businesses would at some point consider a restructuring of the business to manage the tide and stay afloat, with the last resort being liquidation for businesses operating in industries that are the most impacted by this pandemic...

Tax and Customs Matters During Movement Control Order ("MCO") and Conditional MCO Period
Shearn Delamore & Co., July 2020

The Inland Revenue Board (“IRB”) has published an updated list of Frequently Asked Questions (“FAQ”) on tax matters arising during the MCO and CMCO period. For the updated FAQ (as at 10 June 2020), please refer to this link.  The Royal Malaysian Customs Department (“RMCD”) has also recently issued two updated announcements pertaining to payment of taxes due during the MCO and CMCO period. Find information here and here...

Merger Control Regime in Malaysia
Shearn Delamore & Co., June 2020

Many jurisdictions have put in place legislation to regulate merger activities. There have been discussions that it is high time for Malaysia to implement a general merger control regime under the Malaysian Competition Act 2010. As it presently stands, general merger activities which do not fall within two specific sectors (will be discussed below) are not regulated and no prior sanction is required from the Competition Commission before a merger transaction takes place...

Latest Covid-19 Travel Advisory: More Expatriate Groups Permitted to Return to Malaysia
Shearn Delamore & Co., June 2020

Pursuant to the verbal announcement made by our Senior Minister, Datuk Seri Ismail Sabri Yaakob last week, the Government has further released written guidelines on the categories of expatriates who are permitted to return to Malaysia and the measures to be undertaken prior to and after entering Malaysia...

32 Years' Service Does not Provide Immunity from Dismissal for Poor Performance
Shearn Delamore & Co., June 2020

In the recent decision of Abdul Malek Bin Mohamed v MISC Bhd dated 17 June 2020 [Award 840 of 2020], the Industrial Court recognised that the tenure of service of an employee in an organisation does not shield the employee from having to render satisfactory performance at the level required by the Company. The Industrial Court upheld the dismissal of an employee for poor performance after 32 years of service...

Chambers Global Practice Guide: Life Sciences 2020
Shearn Delamore & Co., June 2020

Pharmaceuticals and medical devices in Malaysia are governed by the following main legislation and regulations:the Sale of Drugs Act 1952 (SODA 1952);the Control of Drugs and Cosmetics Regulations 1984 (CDCR 1984);the Dangerous Drugs Act 1952 (DDA 1952);the Poisons Act 1952 (PA 1952);the Medicines (Advertisement and Sales Act) 1956 (MASA 1956); andthe Medical Device Act 2012 (MDA 2012)...

Dismissal Can be Fair Even When the Employer Cannot Prove All the Charges Against the Employee
Shearn Delamore & Co., June 2020

In a recent decision of the Industrial Court in Dewalaxhmana a/l A S Param v Weststar Aviation Services Sdn Bhd (Award No. 692 of 2020), we successfully defended the Company in a claim of unfair dismissal brought by a former employee. It is worth noting that in this case, even though the Industrial Court found that the Company had only proved four out of the seven charges against the former employee (the Claimant), the dismissal was still held to be fair...

Forced Resignation Does Not Automatically Amount to Unfair Dismissal
Shearn Delamore & Co., June 2020

A case of forced resignation does not automatically amount to an unfair dismissal. In the recent decision of Mohd Rizam bin Ibrahim v Prince Court Medical Centre Sdn Bhd dated 5 June 2020 [Award 716 of 2020], the Industrial Court ruled that although the employee was forced to resign, the same was with just cause and excuse...

International Comparative Legal Guides: Fintech 2020
Shearn Delamore & Co., June 2020

The Fintech LandscapeDevelopments in 2019 in terms of sectors were:Payments: Remittance was an area of significant growth in 2019, with a number of notable non-bank payments service providers receiving Remittance (Class B) Licences from Bank Negara Malaysia (BNM). MoneyMatch, the first graduate from BNM’s Regulatory Sandbox programme for incubating and ensuring the sustainability and regulatory compliance of fintech start-ups, was the first to receive a licence at the start of the year...

 

 

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