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An Overview Of The 2024’s Proposed Amendments to the Personal Data Protection Act 2010

Note: Barring any further amendments to the law, this article should be read in the context of the Bill being passed in its current form as at the time of writing as of 11 July 2024. The Personal Data Protection (Amendment) Act 2024 (“PDPA Amendments in 2024“) is currently at the 1st reading stage in …

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Exploring The Different Types of Investment Contracts in Malaysia

Introduction Imagine you’re an investor eager to tap into Malaysia’s booming market. What legal safeguards ensure your capital is protected? Welcome to the world of investment contracts. These essential legal instruments govern the relationships and obligations between parties involved in an investment, providing a framework that ensures interests are protected and ventures are legally compliant. …

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Why Malaysian Companies Should Adopt GDPR Standards

The Malaysian Personal Data Protection Act (PDPA), effective since November 15, 2013, governs the processing of personal data within Malaysia. It applies to all businesses involved in commercial transactions. However, as Malaysian enterprises increasingly expand their operation across international horizons, a pressing question arises: does compliance with the PDPA seamlessly align with the stringent requirements …

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Understanding Section 228 of the Companies Act 2016: Shareholders’ Approval for Substantial Property Transactions with Directors, Substantial Shareholders or Connected Persons

In general, the directors of a company have the power and authority to make decisions pertaining to the business of the company. However, it is essential to note that certain transactions require approval from the company’s shareholders, as stipulated by the Companies Act 2016 (“Act”). An instance of this is when the company engages in …

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Understanding Refundability and Forfeiture of Deposits and Part Payment in Commercial Transactions

Deposits and part payments are common contractual payment in commercial transactions. Whether you are stepping into a tenancy agreement or diving into significant business contracts, these financial commitments often serve as crucial elements for establishing valid and binding contracts. In this article, we will delve into the key differences between deposits and part payments, what …

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The Strategic Role of Letters of Intent in Business Negotiations

Introduction In the dynamic world of business, the Letter of Intent (“LOI”) often plays a critical role in shaping major deals. Serving as a foundational tool in business negotiations, it bridges the gap between informal discussions and formal contracts. This article explores the significances of the LOI, its legal standing and its application across various …

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Terminating Employment Contract Smoothly with Proper Notice

Efficiently managing your workforce involves not only the hiring process but also the art of gracefully concluding employment contracts. To handle this process with care, it is important for employers to understand a vital element – the “notice period.” This article will guide you through the notice requirements outlined in the Employment Act 1955 (the …

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Navigating Distribution Agreements – A Guide for SME Suppliers in Malaysia

As a supplier, expanding your business through offline distribution channels can present both opportunities and challenges. Engaging a distributor can open up new markets and increase your reach, but it also comes with potential pitfalls. To navigate this journey successfully and safeguard your interests, a well-structured distributorship agreement becomes paramount. In this article, we will …

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Legal Recognition of Electronic and Digital Signatures in Malaysia

Electronic signatures and digital signatures are often used interchangeably to refer to tools for signing digital documents. Traditionally, signing involved physical documents or objects, such as paper signatures or fingerprints, to indicate that the signer had read, understood, and agreed to the document’s content. Today, technology allows for digital signing by affixing a name, mark, …

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Brokerage Agreements: Your Key to Successful Transactions

In the realm of business, intermediaries and brokers play a critical role in connecting buyers and sellers, facilitating transactions, and ensuring smooth negotiations. However, operating as a broker without a formal agreement can lead to misunderstandings, disputes, and potential legal complications. Therefore, it is essential for intermediaries to sign a brokerage agreement to clearly define …

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Responsibilities of Executor:

  • Apply for and extract the grant of probate.
  • Make arrangements for the funeral of the deceased.
  • Collect and make an accurate inventory of the deceased’s assets.
  • Settling the debts and obligations of the deceased.
  • Distributing the assets.

Note for Digital Executor:
If you wish to leave your digital assets to certain people in your Will, there are important steps that need to be taken to ensure that your wishes can be carried out:

  • Keep a note of specific instructions on how to access your username and password of your digital asset.
  • You are advised to store these private and confidential information in a USB stick, password management tool or write them down.
  • Please inform your executor or a trusted person of the whereabouts of the tools so that they will have access to your digital asset.