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Firm: Shearn Delamore & Co.

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Significant amendments to Carriage of Goods by Sea Act
Shearn Delamore & Co., October 2021

Dear valued clients, colleagues and friends, In July 2021 the Carriage of Goods by Sea (Amendment) Act (2020) (the "Amendment Act") and its supplementary Carriage of Goods by Sea (Amendment of First Schedule) Order 2021 (the "Order") officially came into force. The Amendment Act and the Order brought into effect the long-awaited changes to the Carriage of Goods by Sea Act 1950 (the "Principal Act"), which has been in force since 23 May 1950...

Trademark Act 2019 with overview by Indran Shanmuganathan and The Annotated Trademarks Act 2019
Shearn Delamore & Co., October 2021

Dear valued clients, colleagues and friends, With the enactment of the latest Trademark Act 2019, our Intellectual Property partner, Indran Shanmuganathan, has authored two books published by renowned publishers, Sweet & Maxwell namely “Trademark Act 2019 with overview by Indran Shanmuganathan” and “The Annotated Trademarks Act 2019” which is a part of Malaysian Legislation Series...

Chambers Global Practice Guides: Employment 2021
Shearn Delamore & Co., October 2021

Dear valued clients, colleagues and friends, Our Employment and Administrative Law partner, Vijayan Venugopal, has authored the Law and Practice chapter (Malaysia) of the Chambers Global Practice Guides: Employment 2021. The chapter covers the Industrial Relations (Amendment) Act 2020, terms of employment, restrictive covenants, data privacy law, foreign workers, collective relations, termination of employment, employment disputes and dispute resolution. Click here to read more...

Shearn Delamore & Co. Legal Updates September 2021 (2)
Shearn Delamore & Co., October 2021

Financial Services Malaysia Overnight Rate as Alternative Reference Rate Bank Negara Malaysia (“BNM”) announced on 24 September that the Malaysia Overnight Rate (“MYOR”) is an alternative reference rate for Malaysia. The MYOR: will be administered and calculated by BNM as the volume-weighted average rate of unsecured overnight Ringgit interbank transactions, including BNM’s overnight monetary operations (excluding Standing Facilities)...

Chambers Global Practice Guides: International Arbitration 2021
Shearn Delamore & Co., October 2021

1. General 1.1 Prevalence of Arbitration Litigation continues to be the primary method of resolving disputes in Malaysia, for both domestic and international disputes. This is not expected to change in the near future...

Shearn Delamore & Co. Legal Updates September 2021 (1)
Shearn Delamore & Co., September 2021

Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for September 2021...

Now You See Me, Now You Don't: What Can be Done if a Bank Fraudster's Identity is uUnknown?
Shearn Delamore & Co., September 2021

Introduction In the age of the Internet and technology, banking scams and fraud abound. Where such bank fraud is committed, it is often the case that the fraudster disappears and their identity remains unknown. How courts grant relief where the identity of the perpetrator of a bank fraud is unknown was addressed in two Malaysian court decisions in 2021: Zschimmer v Persons Unknown[2021] 7 MLJ 178 (Zschimmer); and Zschimmer v Persons Unknown (No 2)[2021] 3 CLJ 587 (Zschimmer No. 2)...

Shearn Delamore & Co. Legal Updates August 2021 (2)
Shearn Delamore & Co., September 2021

Corporate/M&A Amendments to the Main Market Listing Requirements following Enhanced IPO Framework On 11 August 2021, Bursa Malaysia Securities Berhad (“Bursa Securities”) reviewed the Main Market Listing Requirements (“MMLR”) to ensure parity of regulation with the Securities Commission Malaysia’s (“SC”) introduction of an enhanced initial public offering (“IPO”) framework which took effect on 1 January 2021...

Arbitration Rules 2021
Shearn Delamore & Co., August 2021

Arbitration Rules 2021The Asian International Arbitration Centre (“AIAC”) launched its latest edition of the AIAC Arbitration Rules (“AIAC Rules”) on 1 August 2021. The AIAC Arbitration Rules 2021 (“2021 Rules”) streamline proceedings and embrace the needs of a fast evolving disputes climate...

Immigration Update
Shearn Delamore & Co., August 2021

Home Quarantine Now Possible for Ex-Patriates Imagine having the permission to work in a foreign country and yet being unable to do so as you are prohibited from entry. That has been the dilemma faced by many ex patriates who hold Employment Passes but have been unable to enter Malaysia due to the current restrictions in place...

Shearn Delamore & Co. Legal Updates August 2021 (1)
Shearn Delamore & Co., August 2021

Financial ServicesBank Negara Malaysia issues Policy Document on Reference Rate FrameworkThe policy document on Reference Rate Framework (“RRF PD”) was issued by Bank Negara Malaysia (“BNM”) on 11 August 2021 and will come into effect on 1 August 2022...

Shearn Delamore & Co. Legal Updates July 2021 (2)
Shearn Delamore & Co., August 2021

Financial ServicesRecovery Planning Policy DocumentFollowing feedback on its exposure draft, Bank Negara Malaysia has issued a revised policy document on recovery planning which are applicable to banks and investments banks licensed under the Financial Services Act 2013, Islamic banks licensed under the Islamic Financial Services Act 2013 and financial holding companies of the foregoing mentioned licensed entities (collectively, the “FIs”)...

Shearn Delamore & Co.: MyCC's Inquiry on P-Hailing Service Issues
Shearn Delamore & Co., August 2021

On 26 July 2021, the Malaysia Competition Commission (“MyCC”) issued a statement (“the Press Release”) that it is looking into the pricing practices of food delivery platform companies including but not limited to the “imposition of exorbitant commission fees” by the said companies (“the Inquiry”). The Press Release is accessible here...

Shearn Delamore & Co Legal Updates July (1)
Shearn Delamore & Co., July 2021

Financial ServicesRuling of Shariah Advisory Council of Bank Negara Malaysia on QardAt its 213th meeting of the Shariah Advisory Council (“SAC”) of Bank Negara Malaysia, the SAC ruled that the method under Malaysian Financial Reporting Standard (“MFRS”) 17 Insurance Contracts and MFRS 9 Financial Instruments may be adopted to measure qard (interest free loan) for transactions between shareholders’ fund and takaful fund...

Shearn Delamore & Co. Newsletter June 2021
Shearn Delamore & Co., July 2021

Financial ServicesTransition from LIBORIn this article, Krystle Lui Shu Lin reports on the transition from LIBOR rates to risk-free rates...

MyCC's Market Review on Selected Areas of the Transportation Sector (Port Logistics Ecosystem & Motor Vehicle Warranty Claims)
Shearn Delamore & Co., June 2021

Dear valued clients, colleagues and friends, In this article, our partner, Anand Raj, and associate, Jeevitha Thurai Rathnam, discuss the Malaysia Competition Commission’s market review exercise into the transportation sector (port logistics ecosystem and motor vehicle warranty claims)...

International Comparative Legal Guides — Fintech 2021 Malaysia Chapter
Shearn Delamore & Co., June 2021

Dear valued clients, colleagues and friends,Our TMT Partners, Christina Kow and Timothy Siaw, have co-authored the Malaysian chapter of The International Comparative Legal Guides – Fintech 2021. The chapter covers a broad overview of common issues in fintech laws and regulations in Malaysia.The Fintech LandscapeFunding For FintechFintech RegulationOther Regulatory Regimes / Non-Financial RegulationAccessing Talent TechnologyTo read more, please click here...

Malaysian Chapter in The Intellectual Property Review, 10th Edition
Shearn Delamore & Co., June 2021

Dear valued clients, colleagues and friends,Our Head of the Intellectual Property Practice Group, Karen Abraham, has authored the Malaysian chapter of The Intellectual Property Review, 10th Edition published by The Law Reviews. The chapter provides a summary and overview of the types of intellectual property coverage available in Malaysia, together with updates of recent legal developments.1...

What Constitute Good Reasons for an Order to Sell a Vessel Pendente Lite?
Shearn Delamore & Co., June 2021

Shipping & Transport, MalaysiaFactsApplicable legal principlesPlaintiff's argumentDefendant's argumentDecisionCommentThis article examines the basis for an order for a sale pendente lite of a vessel that was arrested by a sheriff in in remadmiralty proceedings as security for the plaintiff's claim.(1) FactsOn 19 November 2017 the defendant's vessel, Shi Pu 1, collided with the plaintiff's bulk vessel, Winning Loyalty...

Shearn Delamore & Co. Legal Updates June 2021 (1)
Shearn Delamore & Co., June 2021

Financial ServicesBNM issues Corporate Strategic Plan policy document for DFIsOn 27 May 2021, Bank Negara Malaysia (“BNM”) issued the Corporate Strategic Plan (“CSP”) policy document, applicable to all development financial institutions (“DFIs”) prescribed under the Development Financial Institutions Act 2002...

Shearn Delamore & Co. Legal Updates May 2021 (2)
Shearn Delamore & Co., May 2021

Financial ServicesBank Negara Malaysia seeks feedback on Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRROn 19 May 2021, Bank Negara Malaysia invited written feedback by 18 June 2021 on its Alternative Reference Rate and Strategic Direction on the Kuala Lumpur Interbank Offered Rate (“KLIBOR”) and the Kuala Lumpur Islamic Reference Rate (“KLIRR”) for the Malaysian Financial Markets discussion paper...

Shearn Delamore & Co. Legal Updates May 2021 (1)
Shearn Delamore & Co., May 2021

Financial ServicesGuidance document on Climate Change and Principle-based TaxonomyOn 30 April 2021, Bank Negara Malaysia issued a finalised guidance document for financial institutions to assess and classify economic activities which contribute to climate change mitigation and adaption...

Shearn Delamore & Co. Legal Updates April 2021 (2)
Shearn Delamore & Co., May 2021

Dispute ResolutionThreshold to Commence Winding Up Proceedings RaisedBy the Federal Government Gazette Notification No. 4159 dated 22 March 2021, the amount of indebtedness required to commence winding up proceedings under section 466(1)(a) has been fixed at RM50,000.00 with effect from 1 April 2021.This means that a creditor may only commence winding-up proceedings against a debtor company where the debtor company has failed to satisfy a debt owed to the creditor exceeding RM50,000...

Demarcating The Bank’s Duty In Investment Scams
Shearn Delamore & Co., April 2021

Scams are common these days. Hence, the regulatory bodies, financial institutions and news media often warn the public to exercise due diligence before making any investments with promises of high-profit returns...

Shearn Delamore & Co. Newsletter March Issue 2021
Shearn Delamore & Co., April 2021

Dear valued clients, colleagues and friends, We are pleased to bring you the March 2021 issue of our quarterly Newsletter, we hope that you will continue to find its contents of value to you. Real Estate PJD Regency Sdn Bhd v Tribunal Tuntutan Pembeli Rumah: Calculation of Liquidated Agreed Damages commences from the Date of Payment of Booking Fee A case note by Alexis Yong Mey Ling … read more...

 

 

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