Malaysia My Second Home (‘MM2H’) is a distinguished initiative endorsed by the Ministry of Tourism Malaysia, aimed at promoting Malaysia as an appealing destination for potential residents from around the globe. This program offers non-Malaysian expatriates and retirees the opportunity to reside in Malaysia, providing them with a social visit pass and a multiple-entry visa issued by the Malaysian Immigration Department.
In light of the rapidly growing trend of ESG and its growing influence on global business practices which led to the existence of a vacuum of information on ESG, this article serves as an update to our previous discussions on the topic. Rather than revisiting the fundamentals of ESG, we will focus on an update of recent developments, with particular attention to changes within Malaysia’s commercial and legal framework, alongside significant global trends.
The Companies (Amendment) Act 2024 (“Amendment Act”) came into force on 1 April 2024, with four provisions namely on changes to the content of a company’s annual returns, changes to the kinds of companies exempted from Division 8 Subdivision I , and a new option to publish or advertise information on the CCM website to come into force at a later date. It lays out a framework for the identification of a company’s beneficial owners, and revises existing provisions on scheme meetings and corporate rescue mechanisms.
In recent years, the landscape of transportation in Malaysia has undergone a significant transformation with the introduction of electric vehicles (EVs). While countries around the world have embraced EV technology for some time, Malaysia has only recently welcomed these eco-friendly alternatives to traditional combustion engine vehicles.
Occupational safety and health are fundamental rights in any modern society. Every individual has the right to work in an environment free from hazards that could jeopardise their well-being. Hence, the Occupational Safety and Health Act 1994 in Malaysia plays a pivotal role in ensuring workplace safety and health, profoundly impacting both employers and employees alike.
In recent months, the Ministry of Investment Trade and Industry (“MITI”) introduced the National Industry Environmental, Social & Governance Framework (i-ESG). This is an active step taken by the government in embracing ESG. Between the years of 2024 to 2026, the ‘Just Transition’ phase aims to support industries to embark on the ESG journey by providing guidelines, capacity building and outreach programmes, mentoring and financing.
In the current commercial world of Environmental, Social and Governance (“ESG”) compliance and Sustainable Development Goals (“SDG”), more duties and responsibilities are placed on the shoulders of directors of corporations and companies to ensure that their business is in compliance with ESG and/or SDG practices.
Written by Richard Wee and Lavannya Nair There are three stages available to an aggrieved individual to resolve a dispute regarding service tax. Set against the backdrop of the abrogation of the Goods and Service…
Written by Wong Zi Ying and Lavannya Nair On 8 June 2023, several orders were enacted by the Parliament pertaining to stamp duties. The summary of those orders is as follows: STAMP DUTY (EXEMPTION) ORDER…
Written by Richard Wee, Fatin Ismail and Faith Chow The Tribunal for Consumer Claims (“TCCM”) or the Tribunal Tuntutan Pengguna Malaysia (“TTPM”) is an alternative forum other than a court action to provide redress for buyers in a…
