The Sales Tax (Amendment) Act 2022 (“Amending Act”) was passed by both Houses and received the royal assent in October 2022. With its passing, the Amending Act brings with it a new sales tax on low value goods (“LVG”) that are being sold on online marketplaces which will come into effect on 1st January 2024.

The Tower REIT case, despite not being that complex in its issues, is nevertheless an important milestone in tax law in Malaysia. Prior to the decision in the case, it had been unclear as to how the LHDN would levy RPGT on a REIT entity in its disposal of real property. The High Court’s decision effectively means that Part II (as it stood then) would only be applicable to a company. Our Partner, Feruz Anwar Seth and pupil, Vishnu Varna discuss the facts, issues and judgment of the case.

The term Environmental, Social and Governance (“ESG”) is currently in the limelight of most if not all, symposiums in the corporate industry. Nevertheless, it was first introduced in the “Who Cares Wins” Report 2004 commissioned by the United Nations Global Compact with the ultimate goal to develop guidelines and recommendations on the means to better integrate environmental, social and corporate governance issues in asset management, securities brokerage services and associated research functions. Up until today, the term itself has been interpreted and used widely by different professionals, stakeholders, investors and corporations.

Recently, the High Court of Penang has resolved the confusion on the correct mode to challenge an Industrial Court Award in the High Court by interpreting Sections 33C and 20(3) of the Industrial Relations Act 1967. This decision by Justice Anand Ponnudurai in Aneka Retail (M) Sdn Bhd v Industrial Court Malaysia & Ors explained the correct mode to challenge an Industrial Court Award in the High Court.

Recently, the Court of Appeal has affirmed the High Court’s decision of Fice Fransina Nenobais v. Lee Hee Chooi which ruled in favour of an undocumented migrant worker to file a claim for unpaid wages in the Labour Court. This decision recognized, once and for all, the right of all migrant workers, documented or otherwise, to file a claim in Malaysian Labour Courts.

On 25 July 2022, the Malaysian Parliament passed the Courts of Judicature (Amendment) Bill 2022 (‘the Bill’), which was subsequently granted the Royal Assent by the Yang di-Pertuan Agong on 31 August 2022. On 5 September 2022, the Bill was then gazetted into law as the Courts of Judicature (Amendment) Act 2022 and came into operation on 1 October 2022. There is an interesting amendment to the Act, which is the new insertion of section 52A relating to notice or documents to be sent by electronic means.

In Dato’ Sri Dr Mohamad Salleh bin Ismail & Anor v Mohd Rafizi bin Ramli [2022] 3 MLJ 758, the Federal Court discussed on whether the Respondent (i.e. the Defendant in the trial court) could rely on the defence of fair comment in a defamation claim commenced by the Appellants (i.e. the Plaintiffs in the lower court). In deciding so, the four elements in established in Joshua Benjamin Jeyaretnam v Goh Chok Tong [1989] 3 MLJ 1 was scrutinised in detail. For convenience, parties will be referred to as they were in the High Court.

The Federal Court in Kalwant Singh A/L Ujagar Singh & Anor v Jaswant Kaur A/P Ujagar Singh A/P Ujagar Singh & Ors [2022] 3 MLJ 184 (“Kalwant Singh case”) revolved around the issue of whether the absence of a residuary clause in a will results in partial intestacy over any part of a deceased’s estate, where the testator by his will creates a trust over the whole of his estate, devises and bequeaths the same to his trustee whilst specifically excluding his heirs at law as beneficiaries of his estate.

In The United States of America v Subramaniam a/l Letchimanan, the Malaysian Federal Court discussed the doctrine of sovereign immunity and whether the forum to decide the applicability of the doctrine in the context of an employee’s claim should be reviewed at the Industrial Court or by way of judicial review proceedings against the Minister of Human Resources’ reference, in the High Court.

Idza Hajar Ahmad Idzam (assisted by Bailey Leong Pui Yee, Lee Sheen Yee and Yap Jia Cheng) from Zul Rafique & Partners’ Litigation Practice Group had successfully acted for Ace Dynamic Team Sdn Bhd (a company holding majority shares of a public listed entity) (“1st Defendant”) and its majority shareholder (who was previously a director) (“2nd Defendant”) in defending against a minority oppression claim filed by one of the 1st Defendant’s minority shareholders (“Plaintiff”).

Earlier this year, we celebrated the tabling of the Anti-Sexual Harassment Bill 2021 (the “Bill”) for its first reading in the Dewan Rakyat on 15 December 2021.

The Labour Court in Nadushalian & 4 Ors v Offimo Marketing Sdn Bhd considered whether lorry drivers could fall within the definition of “employee” within the Employment Act 1955 and thus entitling them to rest day pay and public holiday pay. Our partner, Ms. Wong Keat Ching from our Employment & Industrial Relations practice group, was successful in defeating the claims instituted by 5 lorry drivers against Offimo Marketing Sdn Bhd at the Bentong Labour Court recently. This article discusses the facts, issues and judgment of the case.

The Federal Court in Cimb Bank Berhad v Ambank (M) Berhad & Ors. Civil Appeal No. 01(f)-20-06-2016(B) (“CIMB Case”) engaged with the issue of, inter alia, whether a chargee comes within the meaning of ‘purchaser’ under section 340(3) of the National Land Code (NLC). This article discusses the facts, issues and judgment of the case

On 15.12.2021, the Anti-Sexual Harassment Bill 2021 (the “Bill”) was tabled for its first reading in the Dewan Rakyat. The Bill aims to establish a tribunal for the hearing of sexual harassment complaints. This article sets out the key commentaries to provisions of the current draft of the Bill.

On the 15th of December 2021, the Finance Bill 2021 (the “Bill”) was passed in the House of Representatives with a simple majority voice vote. The bill was presented and laid before the house by YB Dato' Indera Mohd Shahar bin Abdullah, the Deputy Finance Minister. Among the many provisions being made in the Bill, one in particular catches the attention of the masses.

The Court of Appeal in the recent case of Ketua Pengarah Hasil Dalam Negeri v Bar Malaysia maintained the decision of the High Court in upholding the doctrine of legal professional privilege in relation to any documents or information pertaining to Advocates & Solicitors’ clients’ accounts.

Our Litigation team, Idza Hajar Ahmad Idzam assisted by Bailey Leong Pui Yee, Lee Sheen Yee and Yap Jia Cheng (acting on behalf of the Respondents i.e. Nationwide Express Holdings Berhad and 4 of its directors (at that material time)) had successfully resisted an appeal filed by the Appellant in the Court of Appeal and defended the learned High Court Judge’s decision reported in the case of Rozilawati Binti Haji Basir v Nationwide Express Holdings Berhad v 4 Others [2020] MLJU 1198. The Court of Appeal decision is the first appellate decision on the subject matter in Malaysia.

On 1st August 2021, the AIAC Arbitration Rules 2021 (“2021 Rules”) was launched and took effect, replacing all previous editions of the AIAC Arbitration Rules. The 2021 Rules shall apply to all arbitrations commenced after this date, unless agreed otherwise by the parties. The 2021 Rules introduce significant changes to the previous AIAC Arbitration Rules 2018 (“2018 Rules”) in order to provide “a wider range of sophisticated and tailored provisions to govern the efficient conduct of arbitration proceedings” and to offer a “comparable and competitive product reflecting contemporary international standards and practices on the global stage”.

Our IR team, Wong Keat Ching, Teoh Alvare and Wong Yen Ni succeeded at the Court of Appeal in representing the Appellant, Maxis Mobile Services Sdn Bhd (“the Company”) in relation to an unfair dismissal claim originating from the Industrial Court. In this appeal, the Company sought to set aside the High Court’s Decision which overturned the Industrial Court’s findings that the former employee’s dismissal was fair.

In a recent decision, the Employment Appeal Tribunal in the UK concluded that women have a greater burden of childcare than men and that this is a known fact thus taking judicial notice of such. The EAT’s decision instilled confidence for women with childcare responsibilities to file indirect sex discrimination claims successfully in situations where their employer imposes a requirement to work flexible, volatile and indeterminate patterns.

Our Partner, Wong Keat Ching and Associate, Syazwani Suhaimy succeeded in representing Tenaga Nasional Berhad (“the Company”) in an unfair dismissal claim by Sathasivam A/L Muthusamy (“the Claimant”) whose employment contract was terminated by way of frustration of contract after the Claimant was absent from work for more than 2 months as he was held in custody pending the trial of the criminal charges against him.

The Federal Court in the case of Nor Aziz bin Mat Isa v Sun Teoh Tia (SAC) (Pengerusi Lembaga Tatatertib Polis Diraja Malaysia Bukit Aman) & Ors [2021] 2 MLJ 142 decided on the extent of the principle of absolute privilege for defamatory statements contained in a police report lodged by a police officer under Section 107 of the Criminal Procedure Code. In this article, we examine the facts, issues and ruling of the case.

On 18.03.2021, the Court of Appeal in Sunrise Megaway Sdn Bhd (dalam penggulungan) v Kathryn Ma Wai Fong [2021] MLJU 368 upheld with clarity on the extent of judicial scrutiny under section 517  of the Companies Act 2016 (previously section 279 of the Companies Act 1965) over the statutory role and function of a liquidator.

Ever wondered how business owners are able to pay off huge sums of their company’s debts? Well the simple answer is, they don’t. When a company is incorporated, it is deemed to be a separate legal entity that is distinct and separate from its members such that a ‘corporate veil’ is said to be drawn to separate between the company and its members or directors. In other words, the company’s rights and liabilities are their own and not that of the individual business owner’s. This principle has long been established in the English case of Salomon v Salomon & Co Ltd (‘Salomon’) and has been adopted within the Malaysian jurisdiction as well.

Very recently on 5.3.2021, the Federal Court in the case of Goh Teng Whoo and Tan Hwa Cheng v Ample Objectives Sdn Bhd decided that where the service of writ is effected by way of AR Registered Post, a judgment in default of appearance cannot be sealed by the Court if the Affidavit of Service does not exhibit the AR Registered card containing an endorsement as to the receipt by the defendant himself, or someone else authorised to accept the service on his behalf.

In February 2020, the UK Court of Appeal in the case Allen v Dodd & Co Ltd [2020] EWCA Civ 258 clarified what “knowledge” or information is necessary to fall under the tort of inducing a breach of contract, specifically in relation to a situation wherein an employer recruits an employee and receives legal advice regarding the enforceability of the employee’s post-employment restrictions.

In the case of Sulaiman bin Ahmad & Ors v Jemain bin Mohamed & Ors [2020] 11 MLJ 616, the High Court accepted a sijil faraid as sufficient evidence of the Plaintiffs as beneficiaries of an estate. As such the Plaintiffs had locus standi to commence an action in the civil courts against the Defendants in respect of a fraudulent transfer of land.

The Court of Appeal in the case of Godell Parking Sdn Bhd v Majlis Bandaraya Petaling Jaya [2020] 6 MLJ 43 (the “Case”) decided on the applicability of what seems to be a mandatory dispute resolution for an amicable settlement clause in a Concession Agreement entered into between the parties.

On 20 January 2021, the Court of Appeal made a landmark decision that a listed company must be de-listed once it has been served with a winding up order. This was ruled in the Court of Appeal’s unanimous decision to dismiss an appeal against the decision handed down by the High Court on 15 June 2020 in a suit brought by Bursa Malaysia Securities Berhad against Mohd Afrizan Bin Husain as liquidator for Wintoni Group Berhad.

The High Court in Big Man Management Sdn Bhd v Tenaga Nasional Bhd [2020] 11 MLJ 472 engaged with the issue of inter alia whether Tenaga Nasional Berhad (TNB) as the licence holder for electricity supply in Malaysia can disconnect electricity supply from a premise upon allegations of meter tampering and upon the powers granted to it under section 38 of the Electricity Supply Act 1990 (ESA) once the tampering was no longer extant or has been halted or rectified.

On 19.01.2021, the Federal Court of Malaya in PJD Regency Sdn Bhd and Tribunal Tuntutan Pembeli Rumah & Anor and other appeals (Case No. 01(f)-29-10/2019(W)) finally resolved with clarity the long pending confusion among the public and ruled in favour of house buyers concerning the calculation of liquidated damages (“LAD”) to be paid by housing developers in the late delivery of vacant possession.

T. Kuhendran, Susan Tan Shu Shuen and Noor Sumaeya Sofea Shamsudin from our Construction Dispute Resolution practice group succeeded in resisting the Employer’s (“Defendant”) application to set aside and stay an adjudication decision granted in favour of the Main Contractor (“Plaintiff”) in the sum of MYR3,642,356.58, and obtained an order to enforce the same.

Public Rulings are publications issued by the Inland Revenue Board of Malaysia (IRBM) which serves as a guidance to taxpayers on the interpretation of the Income Tax Act (ITA) 1967 and the IRBM’s treatment on various issues.

In August 2020, T Kuhendran, Susan Tan Shu Shuen, and Noor Sumaeya Sofea Shamsudin from our Construction Dispute Resolution practice group have successfully obtained an order to enforce an adjudication decision granted in favour of the Main Contractor (“Plaintiff”) in the sum of MYR10,053,537.15 and resisted the Employer’s (“Defendant”) application to set aside the same.

The Federal Court in Pancaran Prima Sdn Bhd v Iswarabena Sdn Bhd [2020] MLJU 1273 engaged with the issue of inter alia whether the threshold under section 37 of the Arbitration Act 2005 is very low and whether the arbitrator who applies his own knowledge and expertise in the construction industry to a fact in issue can be in breach of the rules of natural justice.

In August 2020, the Federal Court was presented with series of question of law regarding the principle of functus officio which is a well-recognized principle in our legal system and has illuminated and clarified the said doctrine, its scope, exceptions and applicability vis-à-vis judgments and/or orders in the case of Stone World Sdn Bhd v Engareh (M) Sdn Bhd [2020] 2 MLJ 208

The Federal Court took the position that rather than adopting a rigid set of rules to demarcate the boundaries of appellate intervention insofar as findings of fact are concerned, the “plainly wrong” test as decided in previous Federal Court cases should be retained as a flexible guide for appellate courts. As such, there is no necessity to have a rigid guideline to be adopted by an appellate court in the application of the “plainly wrong test” in reversing finding of facts by a trial court.

Deferred prosecution agreement (DPA) were introduced in the United Kingdom’s Crime and Courts Act 2013 and have been used in 8 enforcement actions ever since. DPAs have been regularly used by regulators in the US since 1992. Other countries where the DPA mechanism are available include France, Canada, Singapore and Australia. There are an increasing number of countries considering implementing a DPA regime. Given that global trend, it would be prudent for Malaysia to consider the same.

In August 2020, the Federal Court of Malaysia had the opportunity of interpreting and determining the scope and legal effect of Section 37 of the Arbitration Act 2005 (“AA 2005”) in the case known as Master Mulia Sdn Bhd v Sigur Rus Sdn Bhd [2020] 1 9 CLJ 213 (“Master Mulia Case”).

In a recent case handled by Ms. Idza Hajar Ahmad Idzam from Messrs Zul Rafique & Partners, several questions of law were posed and answered by Justice Ong Chee Kwan sitting in the High Court of Kuala Lumpur. The full grounds of decision may now be found at Rozilawati Binti Haji Basir v Nationwide Express Holdings Berhad v 4 Others [2020] MLJU 1198. Ms. Idza was appearing for all the defendants in this case namely the public listed company i.e. Nationwide Express Holdings Berhad and the directors thereof at the material time to defend against the claim commenced by one Rozilawati Binti Haji Basir who was once a Managing Director and a director of the 1st Defendant.

Life is uncertain. Planning for the inevitable by listing/recording your wishes will not only give you peace of mind as it ensures the ones you love are provided for upon your demise, it will also avoid the lengthy and often painful process that your loved ones will go through to have your assets administered if no will was prepared.

In March 2020, the Federal Court in the case of Siemens Industry Software Gmbh & Co Kg (Germany) (formerly known as Innotec Gmbh) v Jacob and Toralf Consulting Sdn Bhd (formerly known as Innotec Asia Pacific Sdn Bhd) (Malaysia) & Ors [2020] MLJU 363 (the ‘Case’) decided on whether, in an application for registration and enforcement of an arbitral award under section 38 of the Arbitration Act 2005 as a judgement of the High Court of Malaya only relates to the dispositive portions of the award and not the entire award.

Businesses operating as groups may no longer rely on the principle of ‘separate legal entity” as the Industrial Courts may lift the corporate veil to decide who is the true ‘employer’ in a claim. In this article, we examine the facts, issues and ruling in the case of Ahmad Zahri bin Mirza Abdul Hamid v AIMS Cyberjaya Sdn Bhd [2020] MLJU 595 which led to the Federal Court's judgement in lifting the corporate veil and determining the genuineness of a fixed-term contract.

Imagine waking up one day in receipt of a judgment in default while having an ongoing dispute concerning the performance of a contract. Imagine further that the contract contains a valid arbitration agreement which was never resorted to. Should the Judgment in Default be upheld as no appearance was ever entered? Should the Judgment in Default be set aside as it should have been referred to arbitration in accordance to the contract?

On 3rd April 2020, the Technology & Construction Court in the case of A Company v X, Y and Z [2020] EWHC 809 (TCC) decided to continue an injunction to restrain the Defendant i.e. a global consultancy group, from acting as expert witnesses in arbitration proceedings against the Claimant. This article discusses the facts, issues and judgment of the case.

Section 17A introduces a new statutory corporate liability offence of corruption by a commercial organisation under Malaysian law. The section deems any director, controller, officer, partner or who is concerned in the management of the affairs of a commercial organisation to be personally liable for the same offence if the commercial organisation is found liable.

The Industrial Relations (Amendment) Bill (“the Bill”) was tabled in the Malaysian Parliament for first reading on 7 October 2019 and was passed by the Dewan Rakyat on 9 October 2019.

On 4 April 2018, the Malaysian Parliament passed the Limitation (Amendment) Bill 2018, which was subsequently granted the Royal Assent by the Yang di-Pertuan Agong on 27 April 2018. On 4 May 2018, the Bill was then gazetted into law as the Limitation (Amendment) Act 2018, and came into force on 1 September 2019

The introduction of instant messaging, namely WhatsApp, has changed the mode of communication in a workplace. It is now recognised as being a platform for fast, direct and professional communication. It is commonplace for employers to create different WhatsApp groups for employees in order to cater to different needs. The golden question here is whether an employee, upon deciding to quit a work WhatsApp group, can be used as a ground for dismissal.

In this article, we aim to narrate the essentials of the General Data Protection Regulation (GDPR) and Malaysia’s Personal Data Protection Act 2010 (PDPA) to give a better understanding of GDPR’s application in Malaysia and also an overview of what needs to be done for Malaysian businesses receiving personal data from individuals of European Union (EU) member states.

In a landmark decision with a historic nine-member panel of judges, the Federal Court in the case of JRI Resources Sdn Bhd v Kuwait Finance House (M) Bhd (President of Association of Islamic Banking Institutions Malaysia & Anor, interveners)5 held that any decision by the Central Bank of Malaysia’s (Bank Negara Malaysia) Shariah Advisory Council (SAC) on Islamic finance is constitutional and binding on civil courts. In this article, we examine the facts, issues and ruling of the case.

The Industrial Court of Malaysia has ruled on the inclusion of service charge in calculating wages in meeting the minimum wage requirement. In this article, we examine the facts, issues and ruling of the case.

The internet has dominated people from all walks of life with the online culture taking the world by storm. There is indeed an undeniable shift of information into cyberspace with individuals, companies and organisations taking their businesses online in a race to be the most technologically advance. Alas, issues concerning breaches of data surfaced, with millions of users’ data exposed. Thus, in light of the major privacy breaches, the European Union (“EU”) has adopted the General Data Protection Regulation2 (“GDPR”) in order to regulate and strengthen data protection of individuals in the EU.

The 2019 Budget was unveiled by the Finance Minister, Lim Guan Eng, on 2 November 2018 and was passed by the Dewan Rakyat on 6 December 2018. The theme of the Budget was “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society”. In this article, we brief our readers on the highlights of the Budget 2019.

In a landmark decision, the Singapore Court of Appeal in the case of Hii Chii Kok v Ooi Peng Jin London Lucien and another has adopted a new legal test in determining whether a doctor has been negligent in dispensing medical advice. In this article, we examine the facts, issues, and rulings of the case.

Cryptocurrencies and Initial Coin Offerings (ICO) have hit both local and international news headlines since last year. The fluctuating graph of Bitcoin value, the banning of ICO by the world’s second largest economy – China, as well as the ban introduced by Facebook on the advertisements of cryptocurrencies and ICO really stirred investors up. In this article, we share with our readers on the legal position of cryptocurrencies and ICO in Malaysia.

Job applicants are generally required to provide references from their former employers, which is then used by the prospective employers to assess the applicant’s character and abilities. No standard of care was previously set in preparing such references until the landmark case of Ramesh s/o Krishnan v AXA Life Insurance Singapore Pte Ltd . The Singapore Court of Appeal in that case had laid out the standard of care expected of an employer to their former employees. In this article, we examine the facts, issues and the standard of care set out in the case.

Amendments have been made to three Acts, namely the National Land Code 1965 ("the NLC"), Strata Titles Act 1985 ("the STA"), and Land Acquisition Act 1960 ("the LAA"). The amendments to the NLC and STA came into force on 1 January 2017 while the enforcement date for the amendments to the LAA is yet to be announced.

A new market, known as the Leading Entrepreneur Accelerator Platform (LEAP) Market, has been introduced in Malaysia. The LEAP Market is the third market in addition to the existing Main and ACE Markets. It offers lower entry requirements for the small and medium-sized enterprises (SMEs) in Malaysia.

The former Bankruptcy Act 1967 ("the previous Act") has been renamed Insolvency Act 1967 ("the new Act") pursuant to the amendments made via the Bankruptcy (Amendment) Act 2017. Although the amendments have been gazetted, its enforcement date is yet to be appointed.

The Malaysian Federal Court in the case of Mohd Ridzwan bin Abdul Razak v Asmah bt Hj Mohd Nor recently delivered a landmark judgment, ruling that victims of sexual harassment will now be able to seek civil remedies under the tort of sexual harassment. This is the first case involving a sexual harassment victim at a workplace who sought remedy from the civil court. There was previously no avenue for a civil action for sexual harassment under Malaysian law.

In Malaysia,the National Minimum Wages initiative was first introduced and announced by the Malaysian Prime Minister, Dato' Seri Najib Tun Razak in his budget speech on 15 October 2010.

The Trans-Pacific Partnership Agreement ("TPPA") is a multilateral free trade agreement which aims to further liberalise the economies of the Asia-Pacific region. Although the TPPA has been widely and extensively discussed over the past few years, many are still in the dark regarding what it actually entails. In this article, we examine the general features as well as some highlights of the TPPA.

If one were to ask who owns the copyright in famous photographs such as the Afghan Girl, The Terror of War, and Migrant Mother, it is indisputably Steve McCurry, Nick Ut, and Dorothea Lange respectively.

The Strata Management Act 2013 which came into force on 1 June 2015, seeks to provide for matters relating to the proper maintenance and management of buildings and common property. The Act is applicable in Peninsular Malaysia and the Federal Territories.

The Court of Appeal, in the recent decision of Airasia Bhd v Rafizah Shima Mohamed Aris, ruled on the extent in which the Federal Constitution applies in an employment contract between private parties, and the applicability of the Convention on the Elimination of All Forms of Discrimination against Women ("CEDAW") in Malaysia.

In October 2014, the Federal Court in Harianto Effendy Zakaria & Ors v Mahkamah Perusahaan Malaysia & Anor, upheld the dismissal of nine former bank employees by Bumiputera Commerce Bank Berhad (now known as CIMB Bank) ("the Bank") for unlawful picketing at the premises of the Bank.

In June 2014, the Malaysian Industrial Court, in its landmark decision, ruled on the issue of a hotel employee’s salary structure. The judgment, fully supported by the Malaysian Trades Union Congress ("MTUC") is now a precedent which ought to be followed by those in the hospitality industry.

Bank Negara Malaysia ("BNM") has always been a champion of Islamic finance in terms of regulatory mechanisms and its implementation.

Section 233 of the Communications and Multimedia Act 1998 addresses improper use of network facilities and network service. It provides, amongst others, for the creation or transmission of obscene or offensive communication, which is intended to annoy, abuse or threaten another.

Amendments to the Central Bank of Malaysia Act 2009 (‘the Act’) came into operation on 8 February 2013.

The much anticipated Rules of Court 2012 (ROC) came into effect on 1 August 2012. The ROC, in combining the Subordinate Court Rules 1980 and the Rules of the High Court 1980, aims to streamline civil procedure in the Subordinate Courts and High Courts.

Netizens in Malaysia, now share a common fear and feeling of uneasiness following the swift passing of the amendments to the Evidence Act 1950.

The Netting of Financial Agreements Act 2015 came into force on 30 March 2015. It seeks to provide a legal framework governing close-out netting for financial transactions in Malaysia.