Legal Updates

On 15 January 2020, the Securities Commission Malaysia (“SC”) released the much anticipated Guidelines on Digital Assets (“Guidelines”) that prescribe a regulatory framework governing the offering of digital tokens in Malaysia. The issuance of the Guidelines is a welcome move by the SC and is receiving overwhelming industry support as it offers an alternative channel […]

When the Malaysian Anti-Corruption Commission (Amendment) Act 2018 was passed by Parliament in April 2018, all eyes were on the most notable amendment made which introduced the corporate liability provision in Malaysia. The new section 17A of the Malaysian Anti-Corruption Commission Act (“the MACC Act”) allows for a company to be prosecuted for corrupt conduct […]

No Extension of Time for Housing Developers On 14.5.2019, the Federal Court heard 6 appeals brought by the buyers and the developer of a development known as Kondo Sri Istana (“the Project“). The appeals concerned the decision of the Controller of Housing (“the Controller“) in granting an extension of time to the developer, for its […]

The Companies Commission of Malaysia announced on its website that the Companies Act 2016 (“Act”) has been reprinted as at 1 November 2018, and the same will be the authoritative text of the Act. Minor revisions have been made to the Act by the Commissioner of Law Revision pursuant to Section 14(1) of the Revision of […]

Latent defects, which are defects that cannot be discovered by reasonable inspection or testing (see: Sigma Elevator v. Isyoda [2015] 1 LNS 1363), often only surface years after completion or occupation of a building. Unsurprisingly, a recurring question that surrounds latent defects is that of limitation. Prior to 1.9.2019, the limitation period for bringing an […]

On 8 November 2019, Bank Negara Malaysia (BNM) issued its Framework for Electronic Trading Platforms (“Framework”) which came into effect on 11 November 2019. This Framework effectively supersedes BNM’s Guidelines on Electronic Broking System by Licensed Money Brokers issued on 1 August 2005. The Framework applies to the following market participants in the wholesale financial […]

Section 30 of the Construction Industry Payment & Adjudication Act 2012 (CIPAA) generally enables a successful party in an adjudication to obtain payment from the principal of an unsuccessful party. For instance, if a subcontractor (as the successful party) has obtained an adjudication decision in its favour but the main contractor (as the unsuccessful party) […]

Shook Lin & Bok is pleased to announce the launch of its new Department which is spearheading the Firm’s Regulatory Compliance and Enforcement Practice. As one of the oldest firms in Malaysia, the Firm has a long-standing reputation in serving its corporate clients by advising them in many aspects of compliance and governance matters. The […]

On 1 August 2019, the Federal Court in Martego Sdn Bhd v Arkitek Meor & Chew Sdn Bhd, (Civil Appeal Nos. 02(f)-2-01/2018(W) and 02(f)-3-01/2018(W)) has confirmed inter alia that the Construction Industry Payment & Adjudication Act 2012 (“CIPAA”) applies to interim and final payment disputes, thereby affirming the majority decision of the Court of Appeal […]

On 10.4.2019, the historic 9-member panel of Judges which was convened for the first time in such a large number to hear a constitutional reference of issues, delivered its judgment on whether legislative provisions which allowed the rulings of the Shariah Advisory Council (“the SAC”) are unconstitutional. The Judges included the Chief Justice of Malaysia, […]