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.

https://youtu.be/kBHANOFPGBc

“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

JLPW NEEDLAWYER BLOG

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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

JLPW NEEDLAWYER BLOG

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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)

法学院“一带一路”国别法律系列讲座活动周——马来西亚专场 在榆中校区举行

11月21日上午,受兰州大学法学院邀请,亚太法律协会“一带一路”委员会联合主席、马来西亚梁潘黄律师事务所创始人梁柏林律师和梁潘黄律师事务所合伙人李心颖律师为法学院师生分别进行了题为“一带一路项目中的争端规避与管理”“马来西亚私人收购和合资企业的主要问题”的法律实务讲座. http://laws.lzu.edu.cn/lzupage/2018/11/26/N20181126094053.html?from=timeline&isappinstalled=0 Contact us   Address : B-11-8, Level11, Megan Avenue II, Jalan Yap Kwan Seng, 50450 Kuala Lumpur, Malaysia Phone : (603) 2203 3388 Fax : (603) 2203 3399   Website : http://www.jlpw.com.my http://www.jlpw.com.my/needlawyer ” Meeting Your Legal Needs Online “

缅甸投资法要点~Myanmar Investment Law Issues (Video In Chinese And English)

Myanmar Investment Law Issues ~ 缅甸投资法要点 ~ Richard Haw 侯振裕,JLPW LEGAL SERVICES (MYANMAR) CO., LTD ~JLPW法律服务缅甸有限公司 Richard Haw of JLPW LEGAL SERVICES (MYANMAR) CO LTD speaking on Myanmar Investment Law Issues (Video, bilingual in Chinese/English) at our Belt And Road Series Lectures in Lanzhou University, Gansu Province, China.   https://v.youku.com/v_show/id_XMzkzOTMzODM2OA==.html?sharefrom=iphone&sharekey=5e1545f43dbebd879de137aa0ca7eda95     Contact us JLPW… Continue reading 缅甸投资法要点~Myanmar Investment Law Issues (Video In Chinese And English)

Malaysia’s Second Chance As Manufacturing And Supply Chain Hub In Asean

JLPW NEEDLAWYER BLOG

Weeks ago, I blogged about Malaysia as a Supply Chain Refuge And Investment Hub In Asean when the US China Trade War broke out: See https://jlpwneedlawyer.wordpress.com/2018/07/16/making-the-us-china-trade-war-work-for-the-new-malaysia-as-a-supply-chain-refuge-and-principal-investment-hub/

As the drums of trade war rolled on, international logistics players have since reported the relocation of production lines by their China based manufacturing clients to Vietnam, Malaysia and other parts of South East Asia. See https://www.forbes.com/sites/kenrapoza/2018/07/30/trade-war-casualties-factories-shifting-out-of-china/#40023b28103e

A few days ago, I caught up with clients in the furniture industry in Malaysia. Having done a number of furniture manufacturers’ IPOs in the past and assisted their expansion into Vietnam, the reports of what is happening on the ground took me by surprise.

The standard arguments about Vietnam and other emerging economies having lower minimum wage and other significant cost advantages over Malaysia are well reported and acknowledged.

The big surprise is the speed and scale of change resulting from the US China Trade War…

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Myanmar Employment Law Issues~ 缅甸雇佣法要点 (Video in Chinese and English)

Myanmar Employment Law Issues ~ 缅甸雇佣法要点 ~ Richard Richard Haw 侯振裕,JLPW LEGAL SERVICES (MYANMAR) CO., LTD ~JLPW法律服务缅甸有限公司 Richard Haw of JLPW LEGAL SERVICES (MYANMAR) CO LTD speaking on Myanmar Employment Law Issues (Video, bilingual in Chinese/English) at our Belt And Road Legal Series Lectures in Lanzhou University, Gansu Province, China. Contact us JLPW Legal Services… Continue reading Myanmar Employment Law Issues~ 缅甸雇佣法要点 (Video in Chinese and English)