Recently, the High Court dismissed an interim injunction application by a pharmaceutical company (Borrower) to restrain its receivers and managers (R&Ms) from exercising their powers over the Borrower. The R&Ms were appointed by a bank (Bank) pursuant to debentures. The Bank was successfully represented by our Firm’s Disputes Resolution Partner, Syafinaz Vani together with associates, Elani Mazlan and Rakkshanaa Samasundaram. This alert will discuss the key aspects of the cas

A striking out order (Order) is often described to be a draconian order. In this regard, the UK Supreme Court in the case of Summers v Fairclough Homes Ltd [2012] 1 WLR 2004 commented that: “The draconian step of striking a claim out is always a last resort, a fortiori where to do so would deprive the claimant of a substantive right to which the court had held that he was entitled after a fair trial. It is very difficult indeed to think of circumstances in which such a conclu

In Petronas Carigali Sdn Bhd (PCSB) v Pemungut Duti Setem [2023] 6 AMR 427, the High Court ruled in favour of the taxpayer where the...

On 8 January 2024, the Securities Commission (SC) announced that the Advisory Committee on Sustainability Reporting (ACSR) will be conducting an online public consultation in February 2024 regarding the adoption of sustainability disclosure standards released by the International Sustainability Standards Board (ISSB) in Malaysia.   The ACSR is chaired by the SC and was formed with the endorsement of the Ministry of Finance. The ACSR includes representatives from Bank Negara M

RDS Partnership congratulates Johor Plantations Group Berhad (JPG) on its venture with Fuji Oil Asia Pte. Ltd. (Fuji Oil), a subsidiary of the Fuji Oil Group, to develop a specialty oils and fats refinery operating on renewable energy. This collaboration marks a significant milestone in the production of palm oil in Malaysia towards sustainable business practices in the palm oil industry, reflecting their shared vision of transforming the sector while balancing economic growt

During the Budget 2024 Speech, the Minister of Finance announced the introduction of capital gains tax (CGT) in Malaysia with the view of...

Recently, RDS successfully represented the largest electricity provider in Malaysia in striking out a claim for alleged trespass over land which had already been compulsorily acquired by the State. In making its decision, the Sessions Court in Kota Bharu held that the plaintiff did not have the necessary locus standi to commence the claim despite possessing power of attorney as the subject matter land had already been compulsorily acquired and therefore, has vested in the Sta

On 5 October 2022, the Dewan Rakyat passed the Environmental Quality (Amendment) Bill 2022 (2022 Bill) which, increases  the penalties for offences under the Environmental Quality Act 1974 (Act). However, the 2022 Bill was not tabled before the Dewan Negara  due to the dissolution of the 14th Parliament on 10 October 2022.   On 16 November 2023, the Environmental Quality (Amendment) Bill 2023 (Bill) was tabled before the Dewan Rakyat for its first reading. The second reading

The doctrine of issue estoppel prevents a party from re-litigating a specific issue that has already been decided in an earlier legal proceeding. Essentially, if a particular issue was decided in a previous case, and that issue arises again in a subsequent case involving the same parties or their privies, the party is estopped (prevented) from re-litigating that issue. The then Supreme Court in Asia Commercial Finance (M) Bhd v Kawal Teliti Sdn Bhd [1995] 3 MLJ 189 explained

RDS is pleased to publish RDS Legal Insight Q4 of 2023. This quarterly magazine features the following articles by our colleagues: 1)...

Launching Of Simplified ESG Disclosure Guide (SEDG) For Small & Medium Enterprises (SMEs) In October 2023, Capital Markets Malaysia (CMM), an affiliate of the Securities Commission (SC) launched the SEDG for SMEs. The design of the SEDG involved extensive benchmarking exercises against various other global and local standards and frameworks including the Global Reporting Initiative, International Finance Reporting Standard by the International Sustainability Standards Board

At first glance, borrowing or lending money appears as a routine financial transaction, a means to overcome temporary financial hurdles to achieve personal milestones. However, in the evolving landscape of informal peer-to-peer lending or other alternative financial arrangements, unsuspecting individuals might find themselves inadvertently cast into the roles of “moneylenders”, with legal ramifications under the Moneylenders Act 1951 (MA 1951). This circumstance was explored

RDS is pleased to publish RDS Legal Insight Q4 of 2023. This quarterly magazine features the following articles by our colleagues: 1)...

Multi-Storey Car Park Constitutes A Plant & Eligible For Capital Allowance Capital expenditure refers to the cost incurred by a taxpayer...

‘…one has to remember that a scheme of arrangement is a corporate rescue mechanism. As with other corporate rescue mechanisms, such as judicial management, it seeks to rehabilitate the company and achieve a better realisation of assets than possible on liquidation.’ Hitachi Plant Engineering & Construction Co Ltd And Another V Eltraco International Pte Ltd And Another Appeal  [2003] 4 SLR 384 Consequent to the Consultative Document on the Proposed Companies (Amendment) Bill 2

Upfront Fees, Stamp Duty Charges & Legal Fees Incurred For A Working Loan Are Tax Deductible Recently, in a landmark ruling, the Court of...

Recently, the Court of Appeal in Gopala Krishnan Chettiar a/l Muthu v Sealand Marine Inspection and Testing (M) Sdn Bhd & Anor  [2023] 4 MLJ 445 provided some insight as to whether a director and shareholder of a company is also a ‘workman’ in accordance with the definition in Section 2 of the Industrial Relations Act 1967 (IRA 1967). The issue in this case was whether a person who holds a position as a director and shareholder of a company is entitled to initiate a claim for

In the realm of contractual agreements, the interplay between oral promises and subsequent written agreements often becomes a focal point of legal scrutiny. The Federal Court in Abd Ghani Golamdin v Universiti Utara Malaysia & 2 Ors [2023] 6 MLJ 1 examined a scenario wherein an employee received an oral commitment of additional remuneration from his superiors, and this commitment was subsequently documented in writing. A key question emerged - Would this written “agreement” s

On 10 October 2023, the Government tabled amendments to the Companies Act 2016 (CA) via the Companies (Amendment) Bill 2023. This Bill introduces, among others, a comprehensive beneficial ownership reporting framework under the new Division 8A in Part II of the CA. Proposed Amendments The key proposed amendments are as follows: 1.Criteria of Beneficial Owner Presently, Section 2 of the CA defines “beneficial owner” as the ultimate owner of the shares and does not include a no

The Special Commissioners Of Income Tax (SCIT) had the opportunity to determine whether a taxpayer, who is in the business of...