Companies Amendment Act 2019 comes into force on 15 January 2020

The Companies (Amendment) Act 2019 will now come into force on 15 January 2020. This makes the first set of amendments to the Companies Act 2016.

The enforcement date was gazetted through P.U. (B) 16/2020. On the same date of 15 January 2020, the Companies (Company Auditor and Liquidator Fees) Regulations 2020 will also come into force (see P.U. (A) 9/2020).

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Top 5 Restructuring & Insolvency Cases in Malaysia for 2019

Earlier, I covered the top five Malaysian company law cases for 2019. To complete the series, I now feature the top five restructuring and insolvency cases in Malaysia for 2019.

In 2019, we saw further developments interpreting the insolvency-related provisions of the Companies Act 2016 (CA 2016). I have selected these case due to the interesting and novel points of law.

The cases featured below range from judicial management, schemes of arrangement and the receiver’s ability to have continued supply of utilities. Continue reading

Top 5 Company Law Cases in Malaysia for 2019

As 2019 draws to a close, I wanted to feature five interesting Malaysian company law cases during the year.

I have drawn from Malaysian decisions that advanced interesting points of law and has helped to develop company law and also the interpretation of the Companies Act 2016 (CA 2016). These cases range from the CEO’s fiduciary duty, the doctrine of a universal successor entity, and the chairman’s adjournment of general meetings.

This post is part of a 2019 trilogy that also features restructuring & insolvency cases, and arbitration cases.

I set out the five cases below. Continue reading

Spoke on BFM: Unmasking Corporate Anonymity – Beneficial Ownership

On 16 December 2019, I spoke live on BFM’s Morning Run on the Companies Commission of Malaysia proposed guidelines on the beneficial ownership reporting framework. I had written earlier about beneficial ownership in Malaysia and also 8 observations I had on the proposed beneficial ownership guidelines.

You can access the podcast here (you may be required to do a free registration on the BFM website). Continue reading

Case Update: Resignation of Directors Does Not Require Acceptance or Consent by the Company

I set out a case update on two recent High Court cases relating to the resignation of directors and on section 208 of the Companies Act 2016 (CA 2016) on giving the written notice of resignation as a director.

In the first case of Wong Kok Meng, the Court confirmed that a director’s resignation need not be accepted by the company and there need not be a resolution accepting such a resignation.

In the second case of Tan Kei Vin, it also dealt with the issuance of a director’s notice of resignation. That written notice took effect immediately when delivered to the company’s registered office.

I explain more on the two cases below. Continue reading