The COVID-19 pandemic has forced many companies and businesses to rethink their business models. One trend resulting from the COVID-19 pandemic is that more and more businesses are moving towards digital and online platforms. With social distancing being the ‘new normal’, it is no wonder that consumers prefer purchasing online as compared to taking the risk by physically going to the shop. However, there are a number of considerations that a company or business must consider before launching their online store. This article explores 5 considerations before launching an online business.
Section 17A(4) is to a large extent modelled upon Section 7(2) of the Bribery Act 2010, which is the primary law for bribery in the United Kingdom. A few English cases may be referred to in order to determine what the English courts opined amounted to ‘adequate procedures’ and when the procedures in place were regarded as inadequate for purposes of a defence.
Section 17A(4) provides that where a commercial organisation is charged under Section 17A of the MACC Act, that commercial organisation may raise a defence if it had in place adequate procedures to prevent such corruption. However, Section 17A is silent as to what amounts to ‘adequate procedures’. The only guidance at the time of writing is the ‘Guidelines on Adequate Procedures Pursuant to Subsection (5) of Section 17A Under the Malaysian Anti-Corruption Commission Act 2009’ issued by the Prime Minister’s Department.
Section 17A of the Malaysian Anti-Corruption Act 2009 was added to address the issue of corporate corruption in Malaysia. With Section 17A coming into force on 1 June 2020, companies and businesses will have to ensure that there are adequate measures to address and prevent corporate corruption.
On 27 April 2020, it was reported that 7-Eleven Malaysia Holdings Bhd had issued a notice to the dissenting shareholders (“Notice to Dissenting Shareholders”) of Caring Pharmacy Group Bhd for the compulsory acquisition of their shares. This article highlights the mechanism of such notice to dissenting shareholders.
There are a number of ways in which a company may be wound up, one of which is a compulsory winding up. A compulsory winding up is where the company is wound up through a court process. However, the company may be of the view that the winding up proceeding was wrongfully initiated against them. This will have a grave impact not only on the company’s business but also the reputation of the company. Where the company is of the view that the winding up proceeding was wrongfully initiated against them and is desirous to resist the winding up proceedings, the company may consider filing for a Fortuna Injunction.
It is unsurprising that a company in dire financial state would have to eventually contend with the dilemma of whether or not to wind up the company. Fortunately, the Companies Act 2016 provides mechanisms by which a company in financial distress may employ to rescue the company from the jaws of winding-up.
International business and trade is not uncommon in our seemingly borderless world. Goods can be delivered across countries in a matter of days and payments can be transferred almost instantaneously. If you do have an international business partner, you may have come across the term “Letter of Credit”. In fact, some companies insist on a Letter of Credit for their commercial dealings.