Lefa Le Phelang’s Post

Our partner, Prungsak Chaowachart (ปรุงศักดิ์ เชาวน์ชาติ) , and Senior Associate, Waralee Yothawijith, recently had the opportunity to share their valuable insights on Data Centers in the Thailand edition of The Legal Industry Reviews. Their contributions shed light on the evolving legal landscape in this crucial sector, and we are thrilled to see their expertise recognized in this esteemed publication. #DataCenter #Thailand #TechLaw

Assegaf Hamzah & Partners (AHP) recently participated in a Focus Group Discussion (FGD) organised by Otoritas Jasa Keuangan (OJK), Indonesia's Financial Services Authority.   The two-day event brought together industry experts to discuss the latest trends, risks, and mitigation strategies regarding the misuse of financial and legal engineering in the financial sector. Our Partner, indira yustikania, participated as a speaker and shared her insights on the current risks, methods, and typologies associated with the abuse of legal engineering.   The event provided a valuable platform for industry stakeholders to exchange knowledge and explore collaborative approaches to safeguarding the financial sector from the negative impacts of financial and legal engineering abuse.   AHP is proud to have contributed to this important discussion and would like to thank OJK for their trust in our legal expertise. As always, we remain committed to supporting the Indonesian financial services industry in navigating the ever-evolving and complex regulatory and compliance landscape.   #AHP #OJK #FinancialEngineering #LegalEngineering #FraudPrevention #FinancialServices #Compliance #RiskManagement #LawyersWhoKnowAsia

Highlights from the AGM & Networking Opportunity session 💫 Recapping on Ms Nthupeng Magolego’s insightful talk, Ms Nthupang Magolego gave an overview of the purpose of the National Credit Act regarding consumer credit reporting and upcoming projects aimed at improving the quality of the consumer credit information. Here’s a key note: “The NCR views the NCA/CBA/SACRRA Steering Committee as an important feature that can assist the NCR in ensuring the quality of the information reported to credit bureau is improved. Through the Steering Committee, we're going to ensure that we leverage extensively on the Committee to ensure that we interrogate all the quality exceptions, as well as the validation rules that are currently employed to ensure that indeed the objectives of the National Credit Act are improving and the quality of information reported is realised.” - Ms Nthupang Magolego, Executive Senior Legal Advisor at the National Credit Regulator. Stay tuned for more highlights. 💫 #SACRRA #RegulatoryUpdates #networking #Partnerships #AGM

The sanctity of the principle of consideration in Malaysian contract law takes centre stage in Port Kelang Authority v Kuala Dimensi Sdn Bhd [2024] 1 MLJ 252. This case highlights how courts evaluate the necessity of mutual exchange in contract variations, cautioning parties against enforcing one-sided terms without demonstrable benefit to both parties. Our Financial Services Associate, Husna Shariff, shared her insights on the Court of Appeal’s findings and their impact on the enforceability of contract variations. This article serves as a guide for businesses to navigate the complexities of mutual consideration in commercial agreements. Read on to gain valuable insights into this pivotal decision. #NazmiZainiChambers #FinancialServices #DisputeResolution

Revisit The Unclaimed Money Act One of our #ktp clients recently received an audit letter from Unit Wang Tak Dituntut, Jabatan Akauntan Negara Malaysia (JANM) Johor. Here’s a full extract of the inspection notice from JANM and revisit to the Unclaimed Money Act 1965. Inspection Notice Under Section 12 (1) of the Unclaimed Money Act 1965, the Registrar or an authorized officer can inspect documents and financial records. An inspection will be conducted on June 20, 2024. Required Actions: ➡ Prepare Documents: Get books, registers, records, or documents ready as listed in Appendix A. ➡Complete Appendix B: Fill out and return Appendix B with the representative’s information seven days before the inspection. ➡Presence During Inspection: Ensure a representative is present during the inspection. ➡Non-compliance may result in a fine up to RM5,000 or imprisonment for up to three months. Read the full content in our #ktp blog about the Unclaimed Money Act 1965 https://lnkd.in/g8Ex4jCe #auditor #taxagent #accountingfirm #charteredacountant

The Unique Characteristics of a Labuan Company - A Labuan Company has an excellent confidentiality policy. Labuan company information cannot be found in any public registry. - Labuan is located in Malaysia and Malaysia is a politically stable country. - Malaysia is a Commonwealth Country. Laws are based on the English legal system. - Labuan has liberal exchange control. - Labuan has a good banking system and facilities, with tens of onshore banks and offshore banks. A Multicurrency online banking account is available for a Labuan Company. Initial deposits can range from USD$ 10,000 to USD$ 500,000. - Malaysia is a major trading country worldwide, especially in South East Asia, and Labuan is part of it. - Labuan Shelf companies are available for swift business setup or turnkey projects. - Labuan Company has Low paid-up capital requirements. The paid-up capital of a Labuan Company can be as low as USD$1. - Directors and shareholders of a Labuan Company can host meetings from any location across the world. - Labuan Company has no restrictions on nationality for directors and shareholders. - The Labuan company has no nationality requirements for directors and shareholders. - Any currency can be used for a Labuan Company. - The Labuan company adopts no authorized capital and no par value regime Get your Free Consult now! https://lnkd.in/eFABmZgc #MCS #Labuan #company

The Unique Characteristics of a Labuan Company - A Labuan Company has an excellent confidentiality policy. Labuan company information cannot be found in any public registry. - Labuan is located in Malaysia and Malaysia is a politically stable country. - Malaysia is a Commonwealth Country. Laws are based on the English legal system. - Labuan has liberal exchange control. - Labuan has a good banking system and facilities, with tens of onshore banks and offshore banks. A Multicurrency online banking account is available for a Labuan Company. Initial deposits can range from USD$ 10,000 to USD$ 500,000. - Malaysia is a major trading country worldwide, especially in South East Asia, and Labuan is part of it. - Labuan Shelf companies are available for swift business setup or turnkey projects. - Labuan Company has Low paid-up capital requirements. The paid-up capital of a Labuan Company can be as low as USD$1. - Directors and shareholders of a Labuan Company can host meetings from any location across the world. - Labuan Company has no restrictions on nationality for directors and shareholders. - The Labuan company has no nationality requirements for directors and shareholders. - Any currency can be used for a Labuan Company. - The Labuan company adopts no authorized capital and no par value regime Get your Free Consult now! https://lnkd.in/eFABmZgc #MCS #Labuan #company

Product counterfeiting is growing worldwide at an alarming rate. According to K&K Advocates-Intellectual Property, Indonesia incurred financial losses amounting to IDR 291 trillion (US$ 19.41 billion) from counterfeit goods in 2020. This issue is not merely a financial crime but also a serious threat to various industrial sectors. To address this challenge, we introduce one of our simple brand protection solutions that can help you stay one step ahead of counterfeiting and imitation: 𝗠𝗜𝗖𝗥𝗢𝗧𝗘𝗫𝗧. Learn how Theia’s Microtext can protect your product in the post below! Cahaya Jakarta Group #TheiaDigilab #Microtext #SecurityPrinting

#SmallTaxPractices | Don’t let Minor Record-keeping Tasks Turn into Major Roadblocks. Efficient timelines and organised documentation are essential to prevent disputes with SARS. Without proper tracking, small issues can quickly spiral, especially with overloaded or inherited portfolios. Effective tools and structured timelines help practitioners stay updated, ensure compliance, and hold SARS accountable. Join Hopolang Mollo on November 18th for expert strategies on managing records and avoiding disputes. 👉 Learn more here, https://ow.ly/TZmN50TTbfZ #TaxPractice #HopolangMollo #EfficiencyHacks