Corporate Law

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Two Internet Companies, Directors Fined RM20 Million for Financial Crimes

KUALA LUMPUR, Aug 16 (Bernama) - Two Internet companies and their directors were fined a total of RM20 million by the Ampang Sessions Court here for various charges in the issuing of electronic payments unrecognised by Bank Negara Malaysia (BNM), promoting pyramid scheme and involvement in money laundering since 2012.

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Mustafa Centre Boss fails to strike out Lawsuit

The founder of the iconic Mustafa Centre has failed in his appeal to strike out his step-sibling's high-stakes lawsuit against him, an outcome that takes the case closer to the prospect of a full trial.
Date: 10 August 2018; Type: Legal News; Source: Singapore Law Watch

Thio Syn Kym Wendy and Others v Thio Syn Pyn and Others, and Other Appeals

Companies - Oppression - Minority shareholders; Companies - Oppression - Quasi-partnerships; Companies - Oppression - Legitimate expectations; Companies - Oppression - Separate legal personality

Date: 08 August 2018; Court: Court of Appeal; Citation: [2018] SGCA 46; Source: Singapore Law Watch

Yeoh Seng Keong v Bircher Asia Pacific Sdn Bhd

Corporate law – Director – Fiduciary duty – Whether the appellant, as a nominee director, owed any fidelity and or fiduciary duty to the respondent – Whether the trial court had erred when it decided that the appellant had breached his fiduciary duties – Whether the trial judge had erred in awarding general damages ...

Date: 19 July 2018; Court: Court of Appeal; Citation: [2018] MYCA 260; Source: Federal Court Registry

Malayan Banking Berhad v Jeuro Developments Sdn Bhd and Another

Corporate law – Winding up – Liquidator – Proof of debt – Where a housing developer has been wound up and money in the housing development account was paid to a creditor pursuant to a court order in the winding up proceedings, does it preclude or estop the liquidator from rejecting the proof of debt from the creditor &nda ...

Date: 26 January 2018; Court: Court of Appeal; Citation: [2018] MYCA 249; Source: Federal Court Registry

Tradewinds Properties Sdn Bhd v Zulhkiple Bin A Bakar and 2 Others

Corporate law – Fraudulent trading under section 304 of the Companies Act 1965 – Scope of section 304 of the Companies Act 1965 – What constitutes an “intent to defraud” – Standard of proof – Whether the business of the second defendant had been carried out with intent to defraud its creditors

Co ...

Date: 31 July 2018; Court: Court of Appeal; Citation: [2018] MYCA 250; Source: Federal Court Registry

Apex Court's Ruling ends Decade-Plus Turf City Spat

A long-running legal saga between two groups of people who went into a joint venture to develop Turf City has come to a close after more than a decade. In a 185-page written judgment released yesterday, a five-judge Court of Appeal ruled that the three members of a group comprising minority shareholders were entitled to claim compensatory damages f ...
Date: 04 August 2018; Type: Legal News; Source: Singapore Law Watch

Company Admin Obligations to be simplified under the Law

When the Myanmar Companies Law is enforced come August 1, firms will no longer need to submit physical copies of original documents to the authorities as a digital online system will be used going forward,” said U Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC).
Date: 26 July 2018; Type: Legal News; Source: Myanmar Times

Tongbao (Singapore) Shipping Pte Ltd and Another v Woon Swee Huat and Others

Equity - Fiduciary relationships - Duties - Breach; Equity - Remedies - Equitable Compensation - Principles in assessing

Date: 23 July 2018; Court: High Court; Citation: [2018] SGHC 165; Source: Singapore Law Watch

Zolton Techs Singapore Pte Ltd v Tan Chew Sim

Companies - Directors - Duties

Date: 12 July 2018; Court: High Court; Citation: [2018] SGHC 160; Source: Singapore Law Watch

Johor Royalty's Ex-Counsel freed by Court after paying Fine

JOHOR BAHRU, July 11 (Bernama) - The Johor royal family´s former legal counsel, Kamal Hisham Ja'afar was fined RM30,000 by the Sessions Court here today after he pleaded guilty to one charge under the Companies Act 1965.
Date: 11 July 2018; Type: Legal News; Source: Bernama

Fees (Winding up and Dissolution of Companies and Other Bodies) (Amendment) Order 2018

This is to notify that the Schedule to the Fees (Winding up and Dissolution of Companies and Other Bodies) Order 2005 has been amended.
Date: 09 July 2018; Type: Federal Subsidiary Legislation; Citation: No. S 462; Source: Singapore Statutes Online

Companies (Amendment) Bill

This Bill seeks to amend chapter 50 of the Companies Act.
Date: 09 July 2018; Type: Federal Bill; Citation: Bill No. 27/2018; Source: Singapore Statutes Online

Co-Operative Societies (Assumption of Control) (Appointment) Order 2018

The Order is to appoint Amran bin Abd Kadir to take charge and manage the day to day affairs of the Koperasi Peneroka Felda Kemahang (1) Berhad with effect from 8 July 2018 to 7 July 2020 or until a Board is elected.
Date: 06 July 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 157 of 2018; Source: AGC Federal Gazette

DyStar Global Holdings (Singapore) Pte Ltd v Kiri Industries Ltd and Others and Another Suit

Companies - Oppression - Minority shareholders; Civil Procedure - Pleadings; Contract - Breach; Contract - Illegality and public policy - Restraint of trade; Companies - Directors - Duties; Tort - Conspiracy

Date: 03 July 2018; Court: Singapore International Commercial Court; Citation: [2018] SGHC(I) 06; Source: Singapore Law Watch

Two Internet Companies, Directors Fined RM20 Million for Financial Crimes

KUALA LUMPUR, Aug 16 (Bernama) - Two Internet companies and their directors were fined a total of RM20 million by the Ampang Sessions Court here for various charges in the issuing of electronic payments unrecognised by B ...

Yeoh Seng Keong v Bircher Asia Pacific Sdn Bhd Malayan Banking Berhad v Jeuro Developments Sdn Bhd and Another Tradewinds Properties Sdn Bhd v Zulhkiple Bin A Bakar and 2 Others more

Company Admin Obligations to be simplified under the Law

When the Myanmar Companies Law is enforced come August 1, firms will no longer need to submit physical copies of original documents to the authorities as a digital online system will be used going forward,” said U ...

All Companies need to re-register starting from August 1 Listing Interest lackluster despite upcoming Law Draft Regulations of Companies Law released, go into effect in August more

Bill of the Act reducing the Cost of doing Business in Local Government Units

This Bill seeks to amend certain provisions in book II of the Local Government Code of 1991 in order to reduce the cost of doing business in Local Government Units (LGUs) by outlining clear guidelines in the setting of l ...

Bill of the Act to enhance Inter-LGU Cooperation DTI encourages Micro Enterprises to avail of Incentives under BMBE Law Shareholders' Approval on any Change/s in the Company's External Auditor more

Mustafa Centre Boss fails to strike out Lawsuit

The founder of the iconic Mustafa Centre has failed in his appeal to strike out his step-sibling's high-stakes lawsuit against him, an outcome that takes the case closer to the prospect of a full trial.

Thio Syn Kym Wendy and Others v Thio Syn Pyn and Others, and Other Appeals Apex Court's Ruling ends Decade-Plus Turf City Spat Tongbao (Singapore) Shipping Pte Ltd and Another v Woon Swee Huat and Others more

INDUSTRY UPDATES

CJ Bets face JBC Grilling Over Income, Properties in SALN

MANILA, Aug 16 (PNA) - The contents of the Statements of Assets, Liabilities and Net Worth were among the issues raised by members of the Judicial Council (JBC) in Thursday's public interview for aspirants vying for the Chief Justice post.

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INDUSTRY UPDATES

Reyes, Tejano-Ang Wrap up JBC Interview for CJ Post

MANILA, Aug 16 (PNA) - Supreme Court Associate Justice Andres Reyes Jr., and Judge Virginia Tejano-Ang of the Regional Trial Court Branch 1 in Tagum City, Davao del Norte were the last two aspirants for Chief Justice who went under questioning by the Judicial and Bar Council (JBC) on Thursday.

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De Castro to revive Key Reform Projects once picked as CJ

MANILA, Aug 16 (PNA) - Despite her imminent retirement from the judiciary in less than two months, Associate Justice Teresita Leonardo-De Castro on Thursday said she will be able to introduce reforms in the Supreme Court (SC) once named Chief Justice.

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INDUSTRY UPDATES

Bersamin: No Pressure Felt from Gov't in Rulings on Cases

MANILA, Aug 16 (PNA) - Associate Justice Lucas Bersamin on Thursday said he has never felt any pressure from other government branches in rendering decisions on various cases.

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INDUSTRY UPDATES

Court of Appeal Judge reprimanded by His Superior over Dissenting Judgment

KUALA LUMPUR, Aug 16 (Bernama) – A Court of Appeal Judge has today disclosed that he had been reprimanded by a top judge for writing a dissenting judgment in unilateral conversion of M.Indira Gandhi case two years ago.

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INDUSTRY UPDATES

Judicial Activism has Led to Renaissance in Administrative Law, says Academician

KUALA LUMPUR, Aug 15 (Bernama) – There is more judicial activism now which has led to a renaissance in administrative law, according to an academician.

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INDUSTRY UPDATES

Cabinet acknowledges Progress in Thailand-Myanmar Cooperation in fighting Drug Trade

BANGKOK, Aug 15 (NNT) - The Cabinet has acknowledged progress made in Thailand’s cooperation with Myanmar in tackling drug problems in the border area.

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INDUSTRY UPDATES

NLA whip to decide on proposed Amendment of EC Act - VP Surachai

BANGKOK, Aug 15 (NNT) - The National Legislative Assembly whip will be the person responsible for the ultimate decision to proceed with a proposed amendment of the Election Commission Act, says the legislature’s Vice President Surachai Liengboonlertchai.

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CA confirms Poll Exec, Foreign Service, Military Officers' Appointment

MANILA, Aug 15 (PNA) - Commission on Elections (Comelec) Commissioner Marlon Casquejo and several foreign service and military officers hurdled the Commission on Appointments (CA) on Wednesday.

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INDUSTRY UPDATES

House installs Yap, Pichay as New Deputy Speakers

MANILA, Aug 15 (PNA) - The House of Representatives on Wednesday elected two new deputy speakers following the ascension of Pampanga Rep. Gloria Macapagal-Arroyo to the speakership.

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INDUSTRY UPDATES

Five CJ bets to face JBC Interview Thursday

MANILA, Aug 15 (PNA) - The five candidates for the post of Chief Justice of the Supreme Court (SC) will walk into the line of fire with their Judicial and Bar Council (JBC) interview set on Thursday.

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INDUSTRY UPDATES

IRD to build ICT System enabling Tax Payments

Taxpayers may soon be able to pay their dues to the government via mobile banking, said U Min Htut, director general of the Internal Revenue Department (IRD).

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INDUSTRY UPDATES

Law Enforcement remains weak: Deputy Minister

Laos has enacted over 100 laws since national liberation in 1975, but law enforcement remains weak, a senior official has admitted.

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INDUSTRY UPDATES

Exercise of Freedom must be in accordance to Federal Constitution - Eddin Syazlee

JOHOR BAHRU, Aug 14 (Bernama) - The exercise of individual’s right to freedom, be it freedom of religion or speech, must be done in accordance to the provisions in the Federal Constitution, says Deputy Communications and Multimedia Minister Eddin Syazlee Shith.

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INDUSTRY UPDATES

International Malaysia Law Conference 2018

The 4-day International Malaysia Law Conference (“IMLC”) 2018, the flagship biennial event of the Malaysian Bar themed “Raising the Bar: Innovate. Integrate. Emulate.” is underway.

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INDUSTRY UPDATES

IMLC 2018: Change of Government an impetus for strengthening the Rule of Law, says Sultan Nazrin Shah

KUALA LUMPUR, Aug 14 (Bernama) - The recent change of government in Malaysia has given a fresh impetus to strengthen the rule of law in the country, the Sultan of Perak, Sultan Nazrin Shah said today.

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INDUSTRY UPDATES

1Mine urges Government to postpone SST

KUALA LUMPUR, Aug 14 (Bernama) - The government has been urged to postpone implementation of the Sales and Services Tax (SST) come Sept 1 until a directive on the newly passed tax law is clearly outlined.

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INDUSTRY UPDATES

Seizure of Equanimity made according to Legal Procedures - Liew Vui Keong

KUALA LUMPUR, Aug 14 (Bernama) - Minister in the Prime Minister’s Department Datuk Liew Vui Keong told the Dewan Rakat today that the seizure of the superyatch Equanimity was made according to Malaysian procedures and laws.

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