The new corporate liability provision under Section 17A of the Malaysian Anti-Corruption Commission Act 2009 ("Section 17A") has come into force on 1 June 2020. As highlighted in our earlier client alert (see Link), a company may be held criminally liable under this new provision for acts of bribery committed by its directors, employees or other associated persons. The only defence available is for the company to prove that it has put in place adequate procedures designed to prevent these corrupt acts.This new corporate liability provision applies not only to Malaysian companies, but also to foreign companies with businesses in Malaysia.
Global supply chain disruption is both a cause and effect of the major global market slowdown in the wake of the COVID-19 pandemic. This...
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of...
The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 20-2020 dated 3 August 2020, amending RR No. 06-2013 in relation to RR No. 06-2008, governing the imposition of tax on the sale, barter, exchange or other disposition of shares of stock not traded through the local stock exchange.
The Doing Business in China guide provides an introduction to selected aspects relating to investment and business operations in the People’s Republic of China...
Singapore: MAS proposes new regulation for Singapore persons performing digital token services outside Singapore
The Monetary Authority of Singapore (MAS) proposes a new Omnibus Act1 (New Act), which will contain a new regulatory framework for Singapore digital token service providers performing digital token services outside Singapore. The new regulatory framework entails two key aspects: (a) licensing requirements; and (b) anti money laundering (AML) and countering the financing of terrorism (CFT) regulations
The Malaysian Ministry of Housing and Local Government had on 27 July 2020 issued an announcement for the request for proposal ("RFP") for a waste-to-energy project in Bukit Payong, Johor on a public-private partnership basis ("WtE Project"). The WtE Project is one of the 6 expected waste to energy projects that the federal government of Malaysia is planning to develop by 2021.
The Ministry of Health ("MOH") has issued Circular No. 14/2020/TT-BYT dated 10 July 2020 ("Circular No. 14"), which will regulate various aspects of the bidding process of medical devices for public health establishments. This circular will take effect on 1 September 2020.
On 28 May, the Ministry of Trade (MOT) issued a more comprehensive regulation on post-border import by enacting MOT Regulation No. 51 of 2020 on Post-Border Import Inspection and Supervision ('MOT Regulation 51'). When Regulation 51 comes into effect on 28 August, the 2018 post-border import supervision policy will no longer prevail.
Singapore updated its strategic goods control regime on 3 August 2020 to ensure robust administration of controls and effective risk assessments, while ensuring the facilitation of legitimate trade. Key amendments include ensuring individual and bulk permit holders have access to English translations for strategic trade records kept in other languages. For bulk permit holders, expanded document categories under recordkeeping requirements and monthly reporting will apply. A new offence has also been created for failing to amend permits in the event that information submitted under initial permit application processes subsequently change.