Wishing all our Japanese clients business associates, friends, former JLPW Japanese interns and Japanese colleagues a very Happy New Year!
The New Corporate Malaysia: Implementing Whistleblower Programs And Hotlines For Better Corporate Governance
With the recent launch of the Guidelines On Adequate Procedures pursuant to Subsection (5) of Section 17A under THE MALAYSIAN ANTI-CORRUPTION COMMISSION ACT 2009 by Tun Dr Mahathir, we are reminded of the following guiding principles: 1. Top Level Commitment; 2. Risk Assessment; 3. Undertake Control Measures; 4. Training And Communication. I will describe how the… Continue reading The New Corporate Malaysia: Implementing Whistleblower Programs And Hotlines For Better Corporate Governance
The “Adequate Procedures” And “Due Diligence” Defences To Corporate Liability And Personal Liabilities Of Directors And Management For Corruption And Bribery In Malaysia
Some months ago, I wrote about the impending application of the newly gazetted Section 17A of the amended Malaysian Anti Corruption Act and concluded as follows:
”Two years will pass by quickly, and it is imperative that anti corruption and anti bribery systems, policies, manuals and the relevant training programs be put in place now to protect directors and management from personal liabilities.”
In the latest development, our Prime Minister Tun Dr Mahathir has today launch a set of new Guidelines to aid the corporate sector to put in place adequate procedures to minimize risks and prevent corruption. This is indeed most helpful to directors and management of companies as they go about preparing and putting in place the required compliance systems in their organizations ahead of the coming into effect of the new law on 1 June 2020.
“In order to help ensure commercial organisations in any industry employ fundamental measures in minimising the risk of corruption, Prime Minister Tun Dr Mahathir Mohamad today launched guidelines on this today.
They come under the Adequate Procedures Pursuant to Sub-section (5) of Section 17A of the Malaysian Anti Corruption Commission (MACC) Act 2009.
Dr Mahathir said the guidelines have been drafted to assist commercial organisations in understanding what were the “adequate procedures” to be implemented to prevent the occurrence of corrupt practices.“
Read more at
http://www.theedgemarkets.com/article/pm-launches-guidelines-commercial-organisations-minimise-corruption-risk
As the new dawn breaks over Malaysia, scandals and corruption are dominating the air waves and digital news media. With the Pakatan Harapan government’s renewed emphasis on upholding the Rule of Law, the issue of corporate liability and personal liabilities of directors and management for Corruption and Bribery has come into sharp focus.
The Malaysian Anti Corruption Commission (MACC) Amendment Act 2018, gazetted on 4 May 2018 introduced a new Section 17A as follows:
Offence by commercial organization
(1) A commercial organization commits an offence if a person associated with the commercial organization corruptly gives, agrees to give, promises or offers to any person any gratification whether for the benefit of that person or another person with intent –
(a) to obtain or retain business for the commercial organization; or
(b) to obtain or retain an advantage in the conduct of business for the commercial organization.
(2) …
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Malaysia as Belt And Road Initiative Hub Along the Maritime Silk Route
Interesting views from André Wheeler as usual: See http://en.hkuws.com/chinas-belt-and-road-will-help-hong-kong-top-rival-singapore/
My take is there is room for independent and geopolitically acceptable Belt And Road Initiative Hubs in Asean and Central Asia.
Hong Kong is too close to China and with decades of focus as Gateway to China, it does not have the credibility nor the clusters of professionals with an outbound focus on ASEAN and other BRI countries.
My hope is that in managing Malaysia towards trimming off RM1 trillion of national debt, our new Malaysian Government will compete head on with Hong Kong and Singapore as a “dark horse” in the race to become a leading BRI Hub.
With lower costs, experienced conventional and Islamic financial and capital markets and professionals well trained in our own infrastructure development, as well as being geopolitically acceptable to China, ASEAN, India, Japan, Korea and the West, Malaysia has a good chance.
For the…
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The Belt And Road Initiative And Chinese Investments Provide Critical Support For Myanmar’s Economic Development / 一带一路倡议以及中国投资提供关键支持于缅甸经济发展 (Bilingual English/Chinese)
一位参与者于11月初兰州大学举办有关缅甸投资法的一个讲座上询问了中国在缅甸投资的当下情况。我以缅甸外国律师的身份，提出以下原因以支持和提拔一带一路倡议以及中国投资： 1. 中国是缅甸最大的外国投资者。 2. 当昆明到缅甸建筑完成后，沿海铁路每站都设有工厂，商店，学校和医疗设施而让它成为经济发展的骨干； 3. 巴厘岛和澳门风格的度假村将吸引游客并加强其经济。世界各地的投资者将随之进入缅甸。 我很高兴缅甸正在加速进展。 “于11月，中国国家发展和改革委员会副主任， 宁喆，到访缅甸并会见了缅甸国家主席，昂山素姬，策划和财政部长以及其他部长。一周后，由昂山素姬带领的中国缅甸经济实施指导委员会于12月6日会面。缅甸终于在中国一带一路倡议提倡几年后迅速采取行动并接纳主席习近平的此项目.” https://thediplomat.com/2018/12/myanmar-speeds-up-progress-on-chinas-belt-and-road/ At a lecture on Myanmar Investment Law in Lanzhou University in early November, a participant asked about the state of Chinese investments in Myanmar today. I explained that as a foreign lawyer in Myanmar, I supported and promoted the Belt And Road Initiative and… Continue reading The Belt And Road Initiative And Chinese Investments Provide Critical Support For Myanmar’s Economic Development / 一带一路倡议以及中国投资提供关键支持于缅甸经济发展 (Bilingual English/Chinese)
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