Lee Shih

Malaysia’s Companies Act 2016

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The long-awaited Companies Bill 2015 has received Royal Assent and has been gazetted as the Companies Act 2016.

Based on a prescription order under the National Language Act, the authoritative text of the Companies Act 2016 (and any subsidiary legislation made under the Act) is the English language text. The new Act has not been brought into force yet. [update: The gazette notice has been issued. Almost all the provisions of the new Act will be brought into force on 31 January 2017. I have now written about this and the 10 things to immediately prepare for.]

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It has also been announced that the Companies Commission of Malaysia intends to bring the Companies Act 2016 into force in stages. This will start from next year onwards. I would imagine that the sections dealing with insolvency and the new corporate rescue mechanisms could be brought into force at the last stage. The priority may be to implement the new provisions on the incorporation of companies.

To read more about my thoughts on the Companies Bill 2015 and now, the new Companies Act 2016, see below:

 

 

 

10 Must-Read Appellate Advocacy Tips: The Malaysian Perspective

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I have set out below 10 appellate advocacy tips. They focus on the skills of arguing before the Court of Appeal and the Federal Court.

Some of these lessons have been passed down from senior counsel I have worked with. Some are based from my own observations or tips gleamed from the judiciary at various conferences. I cannot take credit for these tips but I do hope that they came in useful. Any errors are my own.

Ultimately, there is no substitute for being on your feet, making your submissions, learning from each experience and developing your own style.

(Photo by: Shane Mahood/USA Network)
(Photo by: Shane Mahood/USA Network)

Read about knowing the battlefield, winning the battle through written advocacy, starting strong in your oral advocacy and building your reputation.

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Malaysia’s New Corporate Rescue Laws: Borrower Gain, Lender Pain?

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TMRThis is my article on my column Raising the Bar published on 4 August 2016 in The Malaysian Reserve (in association with the International New York Times).

The Companies Bill 2015 will introduce two corporate rescue mechanisms: corporate voluntary arrangement and judicial management. These mechanisms will allow financially distressed companies to restructure its debts and to continue with its business.

Under present laws, there are limited options to allow the rehabilitation of companies. Once a company has entered financial distress, the most common event is liquidation.

rescue helicopter

I explain more about this upcoming era of corporate rescue. In some cases, it may be a real lifeline to ailing companies. But I hear that borrower companies may not gain much benefit and lenders may face some pain under these new laws.

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AskTML: Our go-to mobile apps

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This is the second post in the AskTML series. Do read the first post on Productivity hacks for working professionals. Thanks to all of you who have submitted questions; we have quite a few in the queue to be answered now.

In this post, we answer the question — “What are the go-to apps on your phone? Share a screenshot of your homescreen.”

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AskTML: Productivity hacks for working professionals

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AskTML - productivity tips

Since we launched The Malaysian Lawyer in October 2015, we’ve received a steady stream of requests to feature or write about particular topics.

We’ve decided to start a series called AskTML, and invite readers to submit questions on anything related to legal practice. You can submit your questions via any of the following methods:

  • Leaving a comment in the comments section of any AskTML post.
  • Tweeting us at @imleesh or @vangeyzel with the hashtag #AskTML.
  • Sending a LinkedIn message to Lee Shih or Marcus.

We look forward to receiving your questions!

To kick off the series, this post answers a question which we’ve been asked many times — “What are some productivity tips or hacks that you use in your day-to-day legal practice?”

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Tips from the BurgieLaw Startup Legal Conference

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I spoke at the BurgieLaw Startup Legal Conference 2016 at MaGIC, Cyberjaya. It was an interesting and lively conference, bringing together startups and investors.

burgielaw

I have uploaded a copy of my presentation slides. I spoke on ‘Limiting your Liability’ and how to manage it at the start of your business and when doing business. So the first half of my talk was on the different business vehicles that can be utilised, in particular, choosing between using a company or a limited liability partnership for your business.

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In the second half of my talk, I shared 5 tips on minimising disputes in the course of your business. Continue reading →