YOUR PERFECT LEGAL COMPANION
In Malaysia, the Competition Act 2010 (“Act”) sets out the competition law governing most companies and businesses. In essence, the Act prohibits: anti-competitive agreement which has the object (ie: aim) or effect of significantly restricting or distorting competition in any…
0% GST in Malaysia: As many of you are aware, the GST rate for standard-rated supplies of goods and services is reduced from 6% to 0%, effective from 1st June 2018 onwards. So what does this mean to your business?…
Key Things to know about the Anti-Fake News Act 2018 in Malaysia It is an offence to “maliciously create, publish or disseminate any fake news or publication containing fake news”. Fake news is broadly defined as “any news or information,…
Debt Financing versus Equity Financing Debt financing is where a firm raises money for capital by selling debt instruments to investors. By lending money to a firm, the individuals or institutions become creditors and receive a promise that the principal…
Types of bail: Police bail: The release of a suspect from police station when investigation cannot be completed. The suspect will need to report to the police station at a later stage at the appointed date and time. Court…
It is common that you see a “retention of title” clause in commercial contracts. What is it for and what is the extent of its effectiveness? The main purpose of this clause is to allow the seller to reclaim possession…
What kind of works are protected under copyright law? literary works (books, drama, scripts, articles, reports, computer programs etc) artistic works (paintings, drawings, diagrams, photographs, sculptures etc.) musical works films sound recordings broadcasts For example, for a computer game, the…
It is a standard practice that lawyers will insert an “entire agreement clause” (see below) in a contract. This is such a common clause that many people overlook it as “just another standard contract term”. In fact, this is actually…
Do you know that when a property is owned by two or more people, they hold the property on a “trust of land”, where the legal estate of the property is held on trust for the beneficial owners? So, who…
Can you spot any similarities in the two chocolate bars above? Would you think the two products are somehow related or they come from the same source? The picture above actually represents a real case called United Biscuits…
Definition: Financial derivatives are contracts which are written on an asset (referred to as an “underlying asset”). The price of the contract depends on the price of the underlying asset. Main Types of Derivative: Future Derivative A binding…
(i) ARREST It is your fundamental right to be informed that “you are arrested” and on what grounds. The police must bring you to the nearest police station immediately and nowhere else. You have the right to contact a lawyer…
Section 25 of the Malaysia’s Election Offences Act 1954 makes it compulsory for employers to give employees reasonable time off to vote in the Malaysia’s general election. Employers to allow employees reasonable period for voting 25. (1) Every employer…
Following the recent merger of Uber and Grab in Malaysia, this affects the relevant drivers and administrative staffs. The Social Security Organisation (Socso) has recently clarified and confirmed that drivers of ride-hailing services (ie: Uber, Grab…) are considered as self-employed,…
Registered trade mark infringement occurs if a party uses, in the course of business, a trade mark which is identical to or confusingly similar to that of another registered trade mark. The trade mark can be enforced against domain names,…
There are 3 main ways to be discharged from a bankruptcy status: By way of discharge in court: the bankrupt may apply to the court to discharge himself from the bankruptcy status. The DGI has to produce a report on…
What is “Passing off”? It is common sense that “a man is not to sell his own goods under the pretence that they are the goods of another man.” This is the underlying principle of the tort of passing off,…
The Companies Act 2016 received Royal Assent on 31.8.2016 come into effect on 31 January 2017.With the introduction of this New Companies Act, shareholders have now been given a vital role in managing the company’s business despite company having its own…
Step 1: Identify the sources of taxable income First of all, it is important to understand the sources of taxable income in Malaysia, including income earned from a business, employment earnings and rental income, amongst all other things. For example,…
Step 1: Calculate your total of annual rental (e.g.: RM2,200 per month x 12 months = RM26,400) Step 2: Calculate your taxable rental The first RM2,400 of your annual rental is exempted for stamp duty. So, you will minus…