Legal Update

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 […]

The Companies Commission of Malaysia (“Commission”) has announced the introduction of a new 12-digit format for registration numbers for companies, businesses and limited liability partnerships. The implementation of the new format, which took effect on 11 October 2019, is in line with the government’s initiative to adopt a single registration format for all business entities […]

On 21.10.2019, in the case of  RHB Bank Berhad v Dato’ Haji Muhammad bin Hamzah, the Federal Court allowed the appeal by RHB Bank Berhad and laid down the principle that a land chargee is not time-barred from pursuing any further attempts to auction the charged land, more than 12 years AFTER the date of […]

Adjudication under Construction Industry Payment and Adjudication Act 2012 (“CIPAA”) is a temporary means of resolving payment disputes in the construction industry. Nevertheless, an adjudication decision is binding on parties until it is set aside or the dispute is finally resolved. Thus, it is possible and indeed an option for the successful party to an […]

The Federal Court in the case of Jack-in Pile (M) Sdn Bhd v. Bauer (Malaysia) Sdn Bhd has confirmed that the Construction Industry Payment & Adjudication Act 2012 (“CIPAA”) does not apply to construction contracts entered into before the coming into force of the Act, i.e. 15.4.2014. Flowing from this, the Federal Court held that […]

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) has, on 26 September 2019, issued a consultation paper seeking public feedback on the proposed amendments to the Main and ACE Market Listing Requirements (collectively “Listing Requirements”) in light of the government’s call under the National Anti-Corruption Plan (2019-2023). In that connection, Bursa Malaysia seeks the views […]

On 26.8.2019, the Federal Court heard, and allowed, the appeal of Affin Bank Berhad regarding when a bankruptcy order may be annulled. The issue of the ability of a debtor to pay his debts was considered as it was contended by the debtor that his ability to pay his debts had arisen subsequent to the […]