An Initial Exchange Offering (IEO) is a fundraising method where digital tokens (or coins) are issued to investors on a cryptocurrency exchange platform. This process is facilitated by digital asset exchanges (DAX), which acts as an intermediary between the project team and potential investors. The Guidelines on Digital Assets was issued by the Securities Commission Malaysia (SC) on 28 October 2020 and revised on 19 December 2022. The Guidelines set out the requirements relat

The doctrine of kompetenz-kompetenz  is reflected in Section 18 of the Arbitration Act 2005 [1] , in which the arbitral tribunal may rule on its own jurisdiction including determining the existence of the arbitration agreement. However, it is pertinent to note that the foundation of an arbitrator’s jurisdiction is the agreement entered into between the disputants. If such an agreement is absent, then, there is no jurisdiction [2] . Hence, if the validity of the arbitration ag

22 August 2023 KUALA LUMPUR (Aug 22): The High Court on Tuesday (Aug 22) granted Tenaga Nasional Bhd’s judicial review application to set...

28 August 2023 Shell Gas Holdings (Malaysia) Ltd has obtained a Court of Appeal order to stay a ruling for the oil and gas company to pay...

Section 21(1) of the Limitation Act 1953 (LA 1953) reads: “No action shall be brought to recover any principal sum of money secured by a mortgage or other charge on land or personal property or to enforce such mortgage or charge, or to recover proceeds of the sale of land or personal property after the expiration of twelve years from the date when the right to receive the money accrued.” Several cases that have dealt with the application and effect of the 12 year limitation p

In M/s Auronext Pharma Private Limited vs The Deputy Commissioner of Income Tax, ITA-TP No. 486/Hyd/2022, a transfer pricing dispute...

Under the Construction Industry Payment and Adjudication Act 2012 (Act), an adjudicator is required to determine the adjudicated amount and the time and manner the adjudicated amount is to be paid within the adjudication decision. The definition of “adjudicated amount” is important as it is used repeatedly in various provisions of the Act, including Sections 16, 28, 29 and 30. In the context of Section 30, this definition becomes crucial, as it grants the prevailing party the

Recently, the Court of Appeal in SAJ Ranhill Sdn Bhd v SWM Greentech Sdn Bhd & Anor [2023] 1 LN 881 revisited the principles in relation to causation in an action for negligence. Background Facts The Appellant (SAJ Ranhill Sdn Bhd) was the operator of a water treatment plant (WTP) which sourced raw water from Sungai Benut which was then treated at the WTP. On the other hand, the Respondents (SWM Greentech Sdn Bhd and SWM Environment Sdn Bhd) were responsible for the operation

The Securities Commission (SC) and Bursa Malaysia (Bursa) have recently introduced a new mandatory onboarding programme on sustainability for directors of public listed companies (PLCs) on Bursa. The Mandatory Accreditation Programme (MAP) Part II: Leading for Impact (LIP) is an initiative under the SC’s Corporate Governance Strategic Priorities 2021- 2023, which aims to provide directors with the foundation to address sustainability risks and opportunities effectively and ha

In a recent ruling, AJ v Ketua Pengarah Hasil Dalam Negeri, the Special Commissioners of Income Tax (SCIT) held that expenses in the form...

In today’s digital age, the dissemination of information made rapid through social media and online platforms has facilitated the spread of half-truths, where partial facts may be presented without context necessary to the picture. Incomplete information, where crucial facts are deliberately omitted, can lead to distorted perceptions and potential defamation. The recent Court of Appeal case of Tan Sri David Chiu Tat-Cheong v Seena Elizabeth Soy [2023] 3 MLJ 674 highlights the

Bumiputera Release Fee is a payment made by property developers to state governments for the release of the Bumiputera units when they...

Recently, the Special Commissioners of Income Tax (SCIT) allowed a taxpayer’s appeal to claim capital allowance on the capital...

Recently, the Court of Appeal unanimously dismissed the appeal by the Director General of Inland Revenue (DGIR) and affirmed the decision...

RDS is pleased to publish RDS Legal Insight Q2 of 2023. This quarterly magazine features the following articles by our colleagues: 1) Tax...

Online advertising on major search engines like Google has transformed the advertising and marketing landscape, offering businesses...

RDS is pleased to publish RDS Legal Insight Q2 of 2023. This quarterly magazine features the following articles by our colleagues: 1) Tax...

Recently in KP v Ketua Pengarah Hasil Dalam Negeri, the Special Commissioners of Income Tax allowed the taxpayer’s appeal to set aside...

Recently, the High Court in NPC Resources v Ketua Pengarah Hasil Dalam Negeri [ 2022] MSTC 30-515   upheld the decision of the Special Commissioners of Income Tax (SCIT) regarding the basis of which the disposal price of shares is determined when such assets are disposed by a real property company. Brief Facts In 2004, the taxpayer acquired 3,000,000 ordinary shares in a real property company amounting to RM 14,397,000. In 2016, the taxpayer disposed the 3,000,000 shares for

Is the exhaustion of domestic remedy a prerequisite to commence judicial review? Can court grant a stay order in tax cases? The recent...