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Enactment of 2019 National Budget to spur Economic Growth

MANILA, Apr 16 (PNA) - Finance Secretary Carlos Dominguez III hailed the signing into law of the PHP3.7-trillion 2019 national budget, citing its importance towards attaining sustained growth of the Philippine economy. “We fully support the President in his desire to focus national expenditure on projects and activities that redound to the benefit of all Filipinos and stimulate the growth of the economy providing job and income opportunity for the least advantaged,” he said in a message to journalists Monday night.

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BSP extends Transitory Period for Banks' Amended Reports

MANILA, Apr 14 (PNA) - The Monetary Board (MB) approved the extension of transitory period of the amended report on bank interest rates on loans and deposits until 31 December 2019.
Date: 14 April 2019; Type: Legal News; Source: Philippine News Agency

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told today. Its minister Zuraida Kamaruddin said a townhall session was held with various government agencies to get their feedback o ...
Date: 11 April 2019; Type: Legal News; Source: Bernama

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts

PUTRAJAYA, Apr 10 (Bernama) - The Federal Court in a 5-4 majority decision held that Bank Negara Malaysia's Shariah Advisory Council’s (SAC) findings on Islamic finance is binding on Civil Courts.
Date: 10 April 2019; Type: Legal News; Source: Bernama

Central Bank sets to tighten Unsecured Consumer Finance

Hanoi, Apr 9 (VNS/VNA) - Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Vietnam (SBV) takes effect.
Date: 09 April 2019; Type: Legal News; Source: Vietnam News Agency

SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects

KUALA LUMPUR, Apr 5 (Bernama) - Suria Strategic Energy Resources Sdn Bhd (SSER), a subsidiary of the Ministry of Finance which carried out two petrochemical and gas pipeline projects worth RM9.4 billion was today fined RM18 million by the Sessions Court here today for failing to comply with Bank Negara Malaysia (BNM) conditions.
Date: 05 April 2019; Type: Legal News; Source: Bernama

BNM to ensure SMEs continue to have access to financing

KUALA TERENGGANU, Apr 5 (Bernama) - Bank Negara Malaysia (BNM) will continue to improve cooperation with the finance industry to ensure entrepreneurs who are qualified and in need can obtain financing.
Date: 05 April 2019; Type: Legal News; Source: Bernama

Financial Advisers (Amendment No. 3) Regulations 2019

This is to notify that except for Regulation 5(c), the rest is deemed to have come into operation on 8 October 2018 and Regulation 5(c) is deemed to have come into operation on 8 January 2019.
Date: 05 April 2019; Type: Federal Subsidiary Legislation; Citation: No. S 294; Source: Singapore Statutes Online

Dewan Rakyat passes RM19.6 Billion Supplementary Budget

KUALA LUMPUR, Apr 4 (Bernama) - The Dewan Rakyat today approved the supplementary budget of RM19.6 billion proposed by Finance Minister Lim Guan Eng. The approval came after the third reading of the Supplementary Supply Bill (2018) and a motion on the First Supplementary Development Expenditure 2018 in front of Speaker Datuk Mohamad Ariff Md Y ...
Date: 04 April 2019; Type: Legal News; Source: Bernama

Vietnam to launch First Crytocurrency Exchange

Hanoi, Mar 28 (VNS/VNA) - Vietnam will soon launch a new cryptocurrency exchange – the first of its kind in the country.
Date: 28 March 2019; Type: Legal News; Source: Vietnam News Agency

BNM calls for Comprehensive Reform of Employment Sector

KUALA LUMPUR, Mar 27 (Bernama) - Bank Negara Malaysia (BNM) has called for a comprehensive reform of the country’s employment sector to attract quality investments that can generate more high-skilled jobs and offer better salaries. Governor Datuk Nor Shamsiah Mohd Yunus said currently, workers in Malaysia are not paid equitably despite p ...
Date: 27 March 2019; Type: Legal News; Source: Bernama

Appointments to the Accounting and Corporate Regulatory Authority Board

This is to notify that the Minister for Finance has appointed of a new member and re-appointed five members to the Accounting and Corporate Regulatory Authority Board. The appointments will take effect from 1 April 2019.
Date: 26 March 2019; Type: Press Release; Source: Ministry of Finance

Public Bank v New Ace Digital Print Sdn Bhd and Another

Date: 14 March 2019; Court: Federal Court; Citation: Rayuan No. 02(f)-133-11/2017(W); Source: Federal Court Registry

Enforcement of Section 241 of Companies Act 2016

This is to notify that Suruhanjaya Syarikat Malaysia (SSM) has announced the enforcement of Section 241 of the Companies Act 2016 from 15 March 2019. All qualified persons who wish to act as a secretary must register with the Registrar irrespective of their professional background. Circular No. 34/2019
Date: 21 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Banking (Exemption from Sections 15A and 15B) (Amendment) Order 2019

This Order is deemed to have come into operation on 1 October 2018.
Date: 21 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 145; Source: Singapore Statutes Online

National Bank to embrace Industry 4.0

The National Bank of Cambodia (NBC) will continue to promote the development of the Fourth Industrial Revolution in the Kingdom’s financial sector, according to its Macro-economic and Banking Sector Development in ...

Draft Law on monitoring Transactions passed more

Parliament passes into Law RAPBN 2019 in Plenary Session

Jakarta, Oct 31 (ANTARA News) - The House of Representatives (DPR) has passed into law the draft state budget (RAPBN) 2019 in a plenary session here on Wednesday. Finance Minister Sri Mulyani Indrawati said the draf ...

Government to set aside Special Allocation funds for National Museums House Commission approves Additional Budget for Industry 4.0 Bank Indonesia to prioritize Monetary Policy more

Government approves Special Budget for Flood Recovery

The government has approved a special budget of 500 billion kip (US$58 million) to repair public infrastructure that was damaged in last year’s floods, indicating that the remaining recovery work could soon begin.

Central Bank Governor gets New Legal Backing NA debates Draft Law on Central Bank Beware of Illegal Transactions by Fake Banks, Public warned more

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told tod ...

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects BNM to ensure SMEs continue to have access to financing more

Myanmar launches First Ever Municipal Citizen’s Budget

The Taunggyi Township Development Affairs Organisation (DAO) has become the country’s first-ever local-government authority to publish its citizen’s budget.

Bankers seek Clarity over Foreign Equity in Myanmar Banks CBM to publish Market-Based Reference Exchange Rate Local Banks permitted to extend More Mortgages more

Enactment of 2019 National Budget to spur Economic Growth

MANILA, Apr 16 (PNA) - Finance Secretary Carlos Dominguez III hailed the signing into law of the PHP3.7-trillion 2019 national budget, citing its importance towards attaining sustained growth of the Philippine economy.&n ...

BSP extends Transitory Period for Banks' Amended Reports SEC makes Cease and Desist Order vs KAPA Permanent House agrees to recall its Version of 2019 Budget more

Financial Advisers (Amendment No. 3) Regulations 2019

This is to notify that except for Regulation 5(c), the rest is deemed to have come into operation on 8 October 2018 and Regulation 5(c) is deemed to have come into operation on 8 January 2019.

Appointments to the Accounting and Corporate Regulatory Authority Board Banking (Exemption from Sections 15A and 15B) (Amendment) Order 2019 Moneylenders (Amendment) Act 2018 (Commencement) Notification 2019 more

DPM and Industry Minister outline SME Bank Policy

BANGKOK, Dec 7 (NNT) - Deputy Prime Minister Somkid Jatusripitak and Minister of Industry Utama Saowanayon have handed down policies to the SME Development Bank (SME Bank) focused on aiding business operators in 2019 and ...

BoT relaxes Regulations to allow for Easier Loan Approvals Cabinet approves Special Budget to help Sugar Cane Growers Cabinet approves New Debt Moratorium Program for Eligible Farmers more

INDUSTRY UPDATES

Palace suspends Government Work for Holy Week Exodus

MANILA, Apr 17 (PNA) - Malacañang suspended work on Wednesday (April 17), 12 noon onwards, to allow government employees to travel to their respective regions in time for the observance of Maundy Thursday (April 18) and Good Friday (April 19).

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INDUSTRY UPDATES

JBC asks Applicant to comment on Gadon Opposition

MANILA, Apr 16 (PNA) - The Judicial and Bar Council (JBC) has asked an applicant for a vacancy in the Court of Tax Appeals (CTA) to comment on an opposition to her appointment filed last month by senatorial candidate and lawyer, Lorenzo "Larry" Gadon.

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INDUSTRY UPDATES

PCC approves Ayala-PHINMA Energy Deal

MANILA, Apr 15 (PNA) - The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy.

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INDUSTRY UPDATES

8,254 Workers Re-employed after getting Assistance from ESO

KUALA LUMPUR, Apr 16 (Bernama) - A total of 8,254 unemployed workers have been re-employed after receiving assistance from the employment service officers (ESOs) since the Re-Employment Placement Programme for Employment Insurance System (EIS) commenced in August 2018.

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INDUSTRY UPDATES

Two Indonesians fined RM100,000 for Possessing Illicit Cigarettes

KLANG, Apr 16 (Bernama) - Two Indonesian retail shop workers were fined RM100,000 by the Magistrate Court here today after pleading guilty to possessing 854 packs of illegal cigarettes of various brands valued at RM1,668.56.

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INDUSTRY UPDATES

"Go to the Mosque, get Closer to God," Judge advises Robber

IPOH, Apr 16 (Bernama) - "Go to the mosque, get closer to God, be a good person and stop taking drugs," Sessions Court judge Azman Abu Hassan told a palm oil fruit collector.

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INDUSTRY UPDATES

Fake News Bill: Law Society refutes Online Flak over Alleged Silence

Law Society president Gregory Vijayendran said that the organization will share their views over the draft Protection from Online Falsehoods and Manipulation Act privately with policymakers, and has refuted online flak about its so-called "deafening silence".

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INDUSTRY UPDATES

SC suspends Work in Courts for Holy Week

MANILA, Apr 15 (PNA) - The Supreme Court (SC) on Monday announced its modified work schedule for the Holy Week, starting with a half-day work on Wednesday.

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INDUSTRY UPDATES

Fourth 'Justice Zone' opens in Pampanga

MANILA, Apr 13 (PNA) - The fourth Justice Zone in the country has been formally opened in Angeles, Pampanga by the Justice Sector Coordinating Council (JSCC).

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INDUSTRY UPDATES

Indonesia Industrial Summit to be held on April 15-16

Jakarta, April 13 (ANTARA) - The Industry Ministry will organize the 2019 Indonesia Industrial Summit (IIS) themed "Implementation of Making Indonesia 4.0 Toward Top Ten Global Economies", in ICE BSD, Tangerang, Banten Province, on April 15 and 16.

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INDUSTRY UPDATES

200 Lawyers gather in Kuala Lumpur for TerraLex

KUALA LUMPUR, Apr 13 (Bernama) - A total of 200 lawyers from 50 countries have gathered here for the TerraLex Global Meeting to discuss a wide variety of legal and economic issues impacting Malaysia.

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INDUSTRY UPDATES

Chief Justice pens Touching Farewell to Colleagues

PUTRAJAYA, Apr 13 (Bernama) - "All I ask from you is to protect the judiciary no matter what others may say," said Tan Sri Richard Malanjum in his farewell message to the judges, officers and employees of the judiciary upon his retirement yesterday.

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INDUSTRY UPDATES

Chief Justice Richard Malanjum retires

PUTRAJAYA, Apr 12 (Bernama) - Chief Justice Tan Sri Richard Malanjum retires today after serving 27 years in the judiciary.

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INDUSTRY UPDATES

SC launches New Public-Friendly Website

BAGUIO CITY, Apr 11 (PNA) - Supreme Court Chief Justice Lucas Bersamin on Thursday launched the High Court's new and improved website, which includes a court locator directory for lower courts and an e-library of the tribunal's decisions and resolutions.

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INDUSTRY UPDATES

Appointment of Suhakam Commissioner for Children to be announced this Month

KUALA LUMPUR, Apr 11 (Bernama) - The Legal Affairs Division in the Prime Minister's Department is expected to announce the appointment of a Suhakam (Human Rights Commission of Malaysia) commissioner for the portfolio of children this month.

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INDUSTRY UPDATES

Proposed Amendment to Constitution not done in haste - Liew

KUALA LUMPUR, Apr 10 (Bernama) - Minister in the Prime Minister's Department Datuk Liew Vui Keong today brushed off claims that the proposed amendment to Article 1(2) of the Federal Constitution was done in haste, saying the MPs from Sabah and Sarawak were given ample time to deliberate the matter.

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Re-tabling of Amendment Bill depends on Needs - Dr Mahathir

KUALA LUMPUR, Apr 10 (Bernama) - Prime Minister Tun Dr Mahathir Mohamad said re-tabling of the bill to amend the Federal Constitution to give Sabah and Sarawak equal status with Peninsular Malaysia, which failed to get two-thirds majority support in the Dewan Rakyat yesterday, would depend on needs.

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Hearing of Najib's Appeal to disqualify Gopal Sri Ram as Prosecutor Rescheduled to April 23

PUTRAJAYA, Apr 10 (Bernama) - The Court of Appeal has rescheduled to April 23 to hear Datuk Seri Najib Tun Razak's appeal against a High Court's dismissal of his application to disqualify former Federal Court judge Datuk Seri Gopal Sri Ram from leading the prosecution team in his 1Malaysia Development Bhd (1MDB) cases.

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