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OVERVIEW OF ASSETS TRACKING IN ONLINE SCAM

With the advancement of technology and the widespread use of the internet in all walks of life, there is an unfortunate increase of risk and exposure to online scams. Online scams are activities where computers or network equipment are used as mediums to commit...

ARTIFICIAL INTELLIGENCE IN MANAGING COMPLIANCE RISK FOR MSMEs

Introduction Artificial Intelligence (AI) represents a pivotal technological advancement capable of autonomously analysing environments and executing actions to achieve specific objectives.[1] Essentially, AI refers to the technology that enables machines to perform...

DETERMINING TIME-PERIOD LIMITATION IN NEGLIGENCE CASE

CASE REVIEW: JULIAN CHONG SOOK KEOK & ANOR v. LEE KIM NOOR & ANOR In the realm of professional negligence, particularly in legal matters, the concept of limitation plays a crucial role in determining when a claim ought to be commenced. The Limitation Act 1953...

CAN AN ADJUDICATION DECISION HIT PAUSE POST-ENFORCEMENT?

After obtaining an adjudication decision, a sequence known as the ‘CIPAA Trilogy E-S-S’ typically ensues – Enforcement, Setting aside and Stay applications. Typically, the party that receives a favourable adjudication decision will seek to enforce the decision if the...

ARE LEGAL FEES CLAIMABLE AS DAMAGES?

Introduction Can legal fees be claimed as special damages? In the recent Federal Court ruling in Golden Star & Ors v Ling Peek Hoe & Anor and another appeal [2024] MLJU 909, the court addressed whether expenses such as litigation costs, legal charges, and fees...

What is an EPC Contract?

An EPC (engineering, procurement and construction) contract is a contract between a project owner and an EPC contractor where the EPC contractor is responsible for all the activities from design, procurement, construction, commissioning and handover of the project to...

Statutory Derivative Action

The Concept of Derivative Action The fundamental concept of corporate personality delineates a company as a legal person, separate from its members and directors. This means that a company possesses its own set of rights and obligations, enabling it to initiate legal...

GUIDE ON BENEFICIAL OWNERSHIP REPORTING 2024

Introduction The Companies (Amendment) Act 2024 ("CA 2024") was enforced on 1 April 2024 addresses a number of areas regarding the corporate governance framework and corporate rescue mechanism. This article will focus on the discussion on of the amendment which is the...

CONSTRUCTIVE DISMISSAL: Pointers for Employers & Employees

In the intricate landscape of employment law, few concepts are as nuanced and potentially contentious as constructive dismissal. Constructive dismissal refers to a situation where an employee resigns from their job due to fundamental breaches of their employment...

WHAT TO DO AFTER WINNING AN ADJUDICATION DECISION?

Congratulations on obtaining a favourable Adjudication Decision under the Construction Industry Payment and Adjudication Act 2012 (CIPAA)! As the Winning Party, you now have several avenues to securing the adjudicated amount. Let’s explore the steps and options...

STRATEGIC COST MANAGEMENT IN ARBITRATION

In contemporary agreements, it has become customary for parties to include arbitration clauses without fully comprehending the financial implications. Consequently, they often find themselves facing unexpectedly high costs associated with arbitration proceedings,...

Law 101 on Moneylending Agreement in Malaysia

Introduction Money lending is the act of lending of money at interest, with or without security, from a lender to a borrower[1]. In Malaysia, the money lending business is especially regulated by the Moneylenders Act 1951 (‘Act’) subject to the exception provided...

Guidelines on Recognized Market Operators in Malaysia

Introduction The rapid development of digital currency/token as a form of investment, mode of payment and now entertainment has forced the government in every country to develop a regulatory framework in order to provide layers of protection and accountability for the...

Recent Development on Law of Negligence in Malaysia

Introduction Although the law of negligence is not something foreign to the legal fraternity, the tests or principles to conclude a tortious act has been evolving throughout time. In the majority of tort cases, one of the determinations on whether a defendant is...

Capital Reduction under Companies Act 2016

A reduction of capital occurs where a company reduces the amount of its share capital. Under the Malaysia Companies Act 2016 (‘Act’), the Act provides two methods for companies to execute its scheme of capital reduction. This is an addition from the previous Companies...

Key Highlights on the Employment (Amendment) Act 2022

On 21 March 2022, the Dewan Rakyat has taken a further step in passing the Employment (Amendment) Bill 2022 (‘Bill’) to amend the Employment Act 1955 (‘EA 1955’). The said Bill was passed in Dewan Negara on 30 March 2022 and assented on 26 April 2022 and gazetted as...

Essential Legal Cases Concerning Cryptocurrencies

United Kingdom Brief Facts: In the case of AA v Persons Unknown [2019] EWHC 3556 (Comm), the Commercial Court in the UK granted an interim proprietary injunction on Bitcoin. It was later confirmed that Bitcoin, a form of cryptocurrency is considered as property. In...

Restitution: The Remedy to Unjust Enrichment

Introduction According to Goff & Jones (2011) the law of unjust enrichment is concerned with the transfers of value between claimants and defendants. It is a cause of action to which a third category of remedy, i.e., the restitution remedy is available for the...

Employee Share Option Scheme

INTRODUCTION It goes without saying. Employees are an asset to a company and is the most crucial one in carrying out a business. To ensure continuous growth and development, companies realize the need to gain employee loyalty and to retain them. However, in today’s...

Equity Fundraising for a Private Limited Company in Malaysia

Introduction Equity fundraising is a method that can be used by Private Limited Companies (known as Sendirian Berhad or Sdn. Bhd.) in Malaysia to raise funds from potential investors for the purpose of the company’s expansion or survival. Through equity fundraising, a...

The Impact of Covid-19 Act 2020 on Business Owners

INTRODUCTION On 22 December 2021, the Minister in the Prime Minister’s Department (Parliament and Law) Datuk Seri Dr Wan Junaidi Tuanku Jaafar has informed that Part II (Inability to Perform Contractual Obligations) of the Temporary Measures to Reduce the Impact of...

A Written Opinion on the Malaysian Hire Purchase Act 1967

Introduction The Hire Purchase Act 1967 (herein after referred to as “HPA”) is commonly used for the purpose of sale and purchase of motor cycle and car. Hire Purchase is the hiring of goods with the option to buy the goods at the end of the hire purchase term....

Setting up a Money Services Business in Malaysia

In Malaysia, money services business is governed under the Money Services Business Act 2011 (“MSBA 2011”) which provides licensing, regulations and supervisions of money services business. According to Section 2 of the MSBA 2011, money service business refers to...

Closing the Financial Close for Large Scale Solar Project

In Malaysia, Large Scale Solar (“LSS”) is a competitive bidding programme by the Energy Commission to drive down the Levelized Cost of Energy (“LCOE”) for the development of large scale solar photovoltaic plant. Through the LSS scheme, the LSS developers...

Guide on STO as Alternative Fund-Raising Mechanism in Labuan

In the past few months, we have seen prices of cryptocurrency in particularly Bitcoin grew significantly within a short period of time. Bitcoin was the first decentralized digital currency created in 2009 by Satoshi Nakamoto on the basis of open-source software. It...

Understanding Limited Liability Partnership in Malaysia

Limited Liability Partnership (“LLP”) is a new corporate vehicle introduced by the enactment of Limited Liability Partnerships Act 2012. LLP combines the features and benefits of a private limited company and a conventional partnership. In understanding the characters...

LAW 101 on Non-Dilution Clauses

Due to the pandemic, times are challenging for some business owners. Temporary closing on businesses, enforcement of Force Majeure in contracts and delay in payments have caused major setbacks and, in many instances,, crippled businesses. Companies need positive cash...

Large Scale Solar 4 – Things to consider in contract management

With recent announcement by the Government of Malaysia on the execution of Large Scale Solar 4 program, every companies that involve directly with solar and renewable energy are busy looking into suitable land for leasing as well as structuring their bidding...

Due Diligence – Frequently Asked Questions

WHAT IS DUE DILIGENCE? Due diligence has no legal definition. However, according to Merriam Webster, due diligence in a business is a research and analysis of a company or organization done in preparation for a business transaction (such as corporate merger or...