Rahmat Lim & Partners

On 6 March 2025, The Edge Malaysia reported that the High Court had granted an order to approve the schemes of arrangement involving Sapura Energy Berhad (“SEB”) and 22 of its subsidiaries. This follows the scheme creditors’ approval of their debt restructuring plans earlier in February after 52 court-convened meetings. The restructuring involves an innovative structure of pooling of assets and liabilities from different scheme companies under one single entity in the group, which is unprecedented in schemes of arrangement in Malaysia.    Notably, the High Court also granted an order preventing any legal action from being initiated against the scheme companies until the restructuring effective date. While statutory restraining orders are a familiar tool in Malaysian schemes of arrangement, the moratorium granted by the court is believed to be a first of its kind and demonstrates the Malaysian court’s readiness to use its inherent jurisdiction to safeguard a complex restructuring which has been sanctioned by the court.   Members of the Firm’s Restructuring & Insolvency Practice, Managing Partner Azman bin Othman Luk, Partners Jack Yow and Kwong Chiew Ee, Principals Elaine Heung, Neoh Jin Keat and Melvin Ng, were the principal legal advisors to the SEB Group in its restructuring and effort to secure court sanction for the schemes of arrangement. Gopal Sreenevasan and Leong Phaik Leng of Endeavour Group Law Practice acted as counsel alongside members of our Restructuring & Insolvency Practice during the sanction hearing. #Rahmatlimandpartners #restructuringandinsolvency Allen & Gledhill LLP https://lnkd.in/g6uTDdcn

The Court of Appeal in Martin Bencher (Malaysia) Sdn Bhd v Sapura Energy Berhad & Ors (Civil Appeal No. W-02(IM)(NCC)-1879-11/2023) issued a landmark decision pertaining to the filing of consecutive fresh applications for a scheme of arrangement under the Companies Act 2016 and the effect of a creditor’s submission of proof of debt. The decision also sets out helpful guidance on the new “cooling off” period for restraining orders introduced by the Companies (Amendment) Act 2024.   Our Partner Kwong Chiew Ee and Principal Neoh Jin Keat acted for the Respondents at the Court of Appeal. Members of the Firm’s Restructuring & Insolvency Practice, Managing Partner Azman bin Othman Luk, Partners Jack Yow and Kwong Chiew Ee, Principals Neoh Jin Keat and Melvin Ng are advising the Sapura Energy Group in its ongoing schemes of arrangements.    Should you have any queries as to how this decision may affect your business, please do not hesitate to get in touch with Kwong Chiew Ee or your usual contact at Rahmat Lim & Partners.   https://lnkd.in/dCW9qEru   #RahmatLimandPartners

In celebration of International Women's Day, Rahmat Lim & Partners embraced this year's global theme, #AccelerateAction, by hosting a self-defence workshop led by the team from SheFights - Women Empowering Program. This workshop not only opened our eyes to the crucial skills required to defend ourselves but also embodied the spirit of #AccelerateAction, as a concrete step towards empowering women to assert control over their personal safety. Our heartfelt thanks to Coach Faeznur Farok (Benny) and Coach Vladimir for making the training both fun and incredibly empowering. On this International Women's Day, we salute women worldwide for their resilience and strength. You inspire progress and are at the heart of #AccelerateAction every day. Happy International Women's Day from all of us at Rahmat Lim & Partners! 💜 💪

Our latest KnowledgeShare Alert discusses the interim report published by the Malaysia Competition Commission (MyCC) on its Market Review on the Digital Economy Ecosystem in Malaysia. The interim report provides an overview of the digital economy in Malaysia and its impact on competition in the relevant market, with a specific focus on the following sub-sectors: ·       Mobile operating systems (i.e. software platforms) and integrated payment systems; ·       E-commerce, particularly business-to-consumer marketplace platforms; ·       Digital advertising services; and ·       Online travel agencies. Should you have any queries as to how this development may affect your business, please do not hesitate to get in touch with your usual contact at Rahmat Lim & Partners or Penny Wong. This article has been prepared with the assistance of Associates Angel Siah and Mohamad Syafiq Mohamad Tazri. https://lnkd.in/grbtiTny #RahmatLimandPartners #MyCC #DigitalEconomy #MarketReview #CompetitionAct2010

Today, we celebrate the remarkable women of Rahmat Lim & Partners. Their daily contributions of strength, wisdom, and dedication are the foundation of our success. On International Women’s Day, we celebrate not just their achievements but their inspiring role in driving us all forward. Here’s to the incredible women who make a difference in our lives and our work! 💪💜 #AccelerateAction #InternationalWomensDay #WomenInLaw #Rahmatlimandpartners

Our latest KnowledgeShare Alert discusses the Guideline on the Appointment of Data Protection Officer, and the Guideline on Data Breach Notification which were issued by the Personal Data Protection Commissioner of Malaysia on 25 February 2025. These guidelines provide clarity on the new obligations imposed under sections 12A and 12B of the Personal Data Protection Act 2010 which will come into effect on 1 June 2025. Should you have any queries as to how this development may affect your business, please do not hesitate to get in touch with your usual contact at Rahmat Lim & Partners or Penny Wong. This article has been prepared with the assistance of Associates Angel Siah and Mohamad Syafiq Mohamad Tazri https://lnkd.in/gkX52N7a #PDPA2010 #DataProtectionOfficer #DataBreachNotification #PDPAmendmentAct

Wishing everyone a blessed Ramadan. May this sacred month bring you peace, reflection, and spiritual growth. Ramadan Mubarak from all of us at Rahmat Lim & Partners! #rahmatlimandpartners #ramadan

This Thursday, I have had the privilege to be one of the panelists for the “Capital Gains Tax” session of the KLBC Corporate Conference 2025 organised by the Kuala Lumpur Bar Committee’s Corporate & Conveyancing Practice Committee. Shared my views on the capital gains tax, along side with my esteemed panel, Tuan Mohamad Harzani bin Tahir, Section Director of the Drafting and Legal Advisory Division at the Legal Department of the Inland Revenue Board of Malaysia, and well moderated by Jeff Sum. It was a great panel session. ✅ key takeaway - a retention provision could be introduced in the future to impose a statutory obligation on the acquirer to retain certain % of the total value of the consideration in a transaction that subject to capital gains tax. A big shout out and thank you to Faez Razak and Vivek Sukumaran (they are wearing too many hats, and they need no introduction to many of us) for the invitation and making the conference a success! Thanks for having me!

Our latest KnowledgeShare Alert discusses the tax incentive package for the Johor-Singapore Special Economic Zone (“JS-SEZ”) which was unveiled by the Malaysian Investment Development Authority (MIDA) on 3 February 2025 following the signing of the agreement on the JS-SEZ by Malaysia and Singapore on 7 January 2025.   Should you have any queries as to how this development may affect your business, please do not hesitate to get in touch with your usual contact at Rahmat Lim & Partners or Ang Sinn Ee or Desmond Liew Zhi Hong.   https://lnkd.in/gZvh544V   #RahmatLimandPartners #JSSEZ #TaxIncentivePackage

Our latest KnowledgeShare Alert discusses the amendments made to the Stamp Act 1949 pursuant to the Finance Act 2024 and Measures for the Collection, Administration and Enforcement of Tax Act 2024. This article also summarises some of the key changes in the Stamp Act 1949, including an increase in penalties and the introduction of a self-assessment regime.   Should you have any queries as to how this development may affect your business, please do not hesitate to get in touch with your usual contact at Rahmat Lim & Partners or Desmond Liew Zhi Hong. This article has been prepared with the assistance of Associate Eu Ca Matthew Wong.   https://lnkd.in/gMXyJdX5   #RahmatLimandPartners #StampAct1949 #FinanceAct2025