Legal Framework
From The Report: Malaysia 2014
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Focusing on corporate environment, foreign direct investment, tax and incentives, ownership, and competition law, this section examines the legal framework for operating businesses and investing in Malaysia. This chapter also features a viewpoint from Raphael Tay, Corporate and Practice Development Partner, Chooi & Company.

Articles from this Chapter

Overview

Setting up shop: Requirements and mechanisms for operation
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The Corporate Environment The Economic Transformation Programme (ETP) was launched on September 25, 2010 by the government to transform Malaysia into a high-income economy by 2020. It is aimed at lifting Malaysia’s gross national income per capita from $6700 in 2009 to more than $15,000 in 2020. The ETP primarily consists of two parts: 12 national key economic areas (NKEA) – including oil, gas and energy; palm oil and rubber; financial services; tourism; business services; electrical and…

Analysis

Improving legislation: New rules to support the business environment
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Legal System Malaysia’s laws are mainly a combination of Commonwealth-based common law and codified law. Whilst Malaysia consists of 13 states and three federal territories, the federal constitution is the paramount law of the land and clearly demarcates the boundaries between federal and state power. As such, the respective states have the authority to legislate their own laws only in certain fields. Nevertheless, laws related to commerce operate almost uniformly across states. The only significant…

Viewpoint

Raphael Tay, Corporate and Practice Development Partner, Chooi & Company, on the impact of strategic reform initiatives
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The Economic Transformation Programme (ETP) launched in late 2010 is no doubt a key strategic determinant of economic transformation. Since then, and more so in recent months, we have seen and felt the realisation and actualisation of some of these strategic reform initiatives. Broadly, these initiatives are designed to create an eco-system of good governance. The introduction of a new financial regime, the New Omnibus Financial Legislation, comprises both the Financial Services Act 2013 (FSA) and…