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Client Alert: A Temporary Tax Relief For Foreign-Sourced Income

November 25th 2021

Paragraph 28, Schedule 6 of the Income Tax Act 1967 provides tax exemption to Malaysian residents with foreign-sourced income which is remitted to Malaysia. The tax exemption for foreign-sourced income was implemented in 1998 for companies and in 2004 for individuals residing in Malaysia. The main purpose of the tax exemption was to encourage Malaysian residents to venture and generate income from abroad. However, in the recent tabling of Budget 2022, the Minister of Finance has announced the removal of the said tax exemption.

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Client Alert: Crypto-Boom

November 16th 2021

News relating to cryptocurrencies, non-fungible tokens (NFT), blockchain, blockchain assets, distributed ledger technology, etc. have pretty much dominated the social media news feed of most internet users these days – Ethereum surging to a new all-time high, Squid Game’s creators (no, we are not referring to the hyped Korean series on Netflix, but the cryptocurrency which was obviously “inspired” by it) did a “rug pull” and absconded with millions of investors’ money,
creators of SushiSwap did something similar as well, Bitcoin having just gone through its first major upgrade in 4 years, numerous alt coins that have folded their values 10 times or 100 times.

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Client Alert: Silver Lining Amidst the Clouds
for Businesses during the Covid-19 Pandemic

July 15th 2021

It is clear the Covid-19 pandemic and the imposing of various forms of lockdowns since the onset of the Covid-19 outbreak
early last year, have sent economic shockwaves across the globe.

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Client Alert: Digital Banking – Financial Services Market Disruptions

June 29th 2021

On the last day of year 2020, Bank Negara Malaysia (the “BNM”) issued its Licensing Framework for Digital Banks (the “Licensing Framework”). The Licensing Framework sets out (i) the eligibility requirements and procedures to apply for a digital banking license; (ii) the business limitations and regulatory framework applicable to a licensed digital bank during the foundational phase; and (iii) the business activities that must be undertaken and the physical access points that may be established by the licensed digital bank.

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Client Alert: PEMERKASA Plus

June 21st 2021

The recent spotlight is no other than the controversial debate on the “blanket automatic loan moratorium”. Following the national lockdown, Full- Movement Control Order (“FMCO”) announced by the Government of Malaysia (which has then been extended until 28 June), a group of business organisations has called for a blanket automatic loan moratorium until herd immunity from Covid-19 is achieved.

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Client Alert: Summary of the National Recovery Plan (15 June 2021)

June 17th 2021

The National Recovery Plan is an exit strategy to be carried out in phases to bring Malaysia out of this Covid-19 pandemic quagmire. This strategy encompasses four (4) phases involving the transition of the movement control order phases in stages.

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Client Alert: Vaccine Pandemic War – IP Right Holders vs IP Waivers

May 28th 2021

It has been more than a year since COVID-19 dawned upon humanity and put our adaptability and survival ability to test. When viable vaccines were introduced one-by-one in late 2020, we thought that we have finally caught a glimpse of the end of a very long tunnel and soon humanity will prevail against COVID-19. Recent events however suggest otherwise.

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Client Alert – What You Should Know About Electronic Contracts

April 9th 2021

Contracts are agreements entered into between two or more parties, but not all agreements are valid and enforceable in the eyes of the law.

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MyDIGITAL – Malaysia Digital Economy Blueprint

February 24th 2021

The Prime Minister of Malaysia, YAB Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd. Yassin, has on 19 February 2021 announced the MyDIGITAL initiative, which aims to transform Malaysia into a digitally-driven, high income nation and a regional leader in digital economy.

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Client Alert: What Is Up With WhatsApp?

February 3rd 2021

Just as we kickstarted the new year, WhatsApp rolled out its updated Terms of Service and Privacy Policy. Many are confused by what the changes actually mean and what are the associating impact. Whilst the update primarily deals with the expansion of practices around how WhatsApp business users can store their communications, it also touches on WhatsApp’s “integration” with Facebook, and it is the latter that is causing a lot of hoo-ha in the community. In this article, we are going to look at what changes WhatsApp is making in its data sharing practices.

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Client Alert: Rights to Property Under Siege

January 31st 2021

Rights to property is guaranteed under Article 13(1) of the Federal Constitution (“FC”). This includes (but is not limited to) the right to acquire, hold and enjoy property. However, this constitutional right is qualified, subject to the Executive’s right to acquire land for adequate compensation under Article 13(2).

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Client Alert: Online Arbitration in Malaysia – Overcoming the Constraints of the COVID-19 Pandemic

January 27th 2021

There are multiple available mechanisms when it comes to alternate dispute resolution, and arbitration is one of the common avenues that is used in most commercial transaction in Malaysia and in the global market. Arbitration is essentially a procedure to resolve disputes between parties and its principal characteristics includes that it is consensual, neutral, confidential, the right of parties to choose the arbitrator and the enforceability of the arbitral award.

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Client Alert: Enforceability of a Letter of Offer

January 26th 2021

A letter of offer, sometimes referred to as a letter of intent is often used in a wide array of business contexts and is a common occurrence. However, can this letter be construed as an enforceable contract?

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Client Alert: Pakej Bantuan
Perlindungan Ekonomi
dan Rakyat Malaysia
(PERMAI)

January 19th 2021

On 18 January 2021, the Prime Minister Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd Yassin announced the Pakej Bantuan Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) stimulus package totalling RM15 billion as a supplement to the existing initiatives.

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Client Alert: Cybersecurity – A Real and Constant Looming Threat

January 18th 2021

In this age of information, gone are the days when people only pay attention to financial and physical security. Cybersecurity is the new table talk topic, along with COVID-19 and WFH. So, what exactly is cybersecurity? Think of it as measures to protect digital information or data from unauthorised access or use.

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Client Alert: State of Emergency in Malaysia

January 14th 2021

A year has passed and the united war against Coronavirus rages on. The numbers of daily cases in Malaysia have escalated to thousands in the past few months, with a whopping 3,309 cases recorded just recently.

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Newsflash: MCO 2.0

January 13th 2021

On 11th January 2021, the Government of Malaysia has announced the 14-day Movement Control Order to be implemented nationwide from 13th to 26th January 2021 to curb the spread of the Covid-19 infection in Malaysia.

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Newsflash: NAQtech

January 6th 2021

Naq’s 2021 tech predictions

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Client Alert: COVID-19 The Prihatin Supplementary Initiative Package (KITA PRIHATIN)

September 24th 2020

On 23 September 2020, the Prime Minister Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd Yassin announced an extension of the PRIHATIN, PRIHATIN TAMBAHAN and PENJANA economic stimulus packages termed the Kerangka Inisiatif Tambahan Prihatin (“KITA PRIHATIN”).

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Client Alert: The Malaysian Covid Bill

August 18th 2020

The long-awaited COVID-19 Bill was finally tabled in Parliament for its First Reading Wednesday, 12 August 2020.

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Client Alert: The Malaysian Short-Term Economic
Recovery Plan (PENJANA)

June 9th 2020

Preventive measures against the Malaysian economic slowdown due to the Covid-19 pandemic were taken under the PRIHATIN and PRIHATIN Tambahan stimulus packages announced by the Government of Malaysia on 27 February 2020, 23 March 2020 and 6 April 2020.

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MITI – Sektor Guaman

May 2nd 2020

Merangkumi semua firma guaman bagi conveyancing dan korporat. Skop berkaitan dengan litigasi adalah tertakluk kepada arahan Kerajaan supaya Mahkamah mula beroperasi.

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Client Alert: How to Finance Your Business With The Prihatin Facilities

April 20th 2020

In this article, we dissect the various financing related relief and stimulus packages announced by the Prime Minister on 27 March 2020 and 6 April 2020. We have broken down these packages into categories and the corresponding requirements to ease a borrower’s engagement with a participating institution or lender.

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Movement Control Order: Phase 3 (15-28 April 2020)

April 16th 2020

The ongoing nationwide Movement Control Order (“MCO”) which is in the second phase will be extended by another two weeks until April 28 as announced by the Prime Minister Tan Sri Muhyiddin Yassin in a special televised broadcast on 10 April 2020.

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Client Alert: COVID-19

And The Movement Control Order: “Critical Works”

April 10th 2020

The Prime Minister Tan Sri Muhyiddin Yassin on 16 March 2020 had announced the Movement Control Order (“MCO”) to be implemented starting from 18 March 2020 to 31 March 2020. On 25 March 2020, the Government of Malaysia has extended the MCO to 14 April 2020 to curb the spread of the Covid-19 infection in Malaysia.

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The Malaysian Economics Stimulus Packages 2020

April 9th 2020

In a short matter of time, Covid19 has brought about a devastating economic and social blow on a global scale. Most, if not all, countries were taken by surprise by the sweeping disastrous effects of this invisible disruptor.

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Client Alert: COVID-19

How The Government May Amplify Surveillance In A COVID-19 World

April 2nd 2020

The war against COVID-19 is being fought on many fronts, not least the technological. Khairy Jamaluddin, newly minted MOSTI minister, announced on March 26 during an online forum “Adapting to the COVID-19 Challenge” that the Malaysian Government is commissioning a smartphone application with the function of tracking the movements of individuals.

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Client Alert: COVID-19

Corporate Actions In A Pandemic

March 30th 2020

COVID-19 is changing the way the world does business, including in Malaysia. With the Movement Control Order (“MCO”) in place, companies that do not provide “essential services” must be closed, rendering physical meetings between shareholders and directors impossible.

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Client Alert: COVID-19

Privacy

March 26th 2020

The world has been hit with the spread of the novel coronavirus (COVID-19) since the end of 2019, and many countries have come up with measures of containment to stop the virus from spreading.

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Client Alert: COVID-19

Key Employment Legal Issues for Malaysian Companies

March 12th 2020

At the present time of writing, the World Health Organisation has confirmed some 114,000 infections of the Coronavirus Disease 2019, or COVID-19.

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Landmark Decision: Affirming the Binding Nature of Shariah Rulings and Constitutionality

June 25th 2019

On 10 April 2019, the Federal Court assembled its nine-member panel and came to a narrow…

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Luminance

October 9th 2018

Naqiz & Partners deploys artificial intelligence from Luminance…

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Scoring on a Levelised Playing Field

September 11th 2017

Money to be had in the future is not worth as much as money held today. If the sale of electricity is on an average price throughout a…

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Applicable Laws and Regulations for Rail Transportation in Malaysia

September 11th 2017

Land Public Transport Act 2010 (“LPTA”) is the current applicable law and regulations for rail transportation in Peninsular Malaysia with jurisdiction over…

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Intellectual Property Rights Arbitration

September 11th 2017

Arbitration is a form of alternative dispute resolution that provides the parties with greater autonomy with regard to cost, time and confidentiality, but…

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