The aftermath of Binance

Those familiar with the cryptocurrency scene in Malaysia would have definitely heard of Binance – the world’s largest cryptocurrency exchange by trading volume (source:coinmarketcap.com) which all this while, has been unlicensed and unregulated in Malaysia. On 30.07.2021, the Securities Commission Malaysia (“SC”) announced that it will be taking enforcement actions against Binance for illegally operating a Digital Asset Exchange (“DAX”) in Malaysia. Under Sections 7(1) and 34(1) of the Capital […]

When does cause of action arise in a claim against a consultant?

Introduction The recent decision of Pembinaan BLT Sdn Bhd v Nazarin (NBM) Sdn Bhd & Ors highlight a slight discrepancy in timing as to when a cause of action may arise against a consultant. This is important because under the Limitation Act 1953, a claim may be barred by limitation after the expiry of 6 […]

Damages in construction contracts

Damages is simply the compensation that a contracting party claims against the other contracting party for breaches of contract. In construction contracts, the nature of damages would ordinarily be the additional costs incurred.   These additional costs may arise from a multitude of factors including variations, delays, disruption, acts of prevention by the Employer, acceleration costs, design issues, suspension and termination of […]

Security for costs: Is it a shield, a sword, or both?

Historically, security for costs was a procedure to prevent an abuse of process whereby a losing plaintiff fails to pay costs to the defendant. It was therefore primarily a defensive move to avoid being out-of-pocket by the defendant. However, this measure has evolved with time and some defendants have tactically utilized it as a sword to […]

Challenging the authority of a solicitor to represent her/his client

Just because a lawyer appears in Court for a client does not necessarily mean that s/he has the authority to act. Although a written authorisation is not always necessary, nevertheless it serves a good purpose to establish a clear right for the lawyer to represent her/his client. Hence, many legal firms require clients to sign […]

Bitcoin Regulation in Malaysia

All Tesla CEO Elon Musk did was change his twitter biography to one word: “#bitcoin” and the price of Bitcoin rose nearly 20% in a matter of hours. It skyrocketed from around $32,000 to nearly $38,000. Volatility of it aside, if one had bought 10 USD worth of Bitcoin back in 2010, its value would […]

Failure to comply with conditions precedent for extension of time (“EOT”)

Can a contractor claim EOT if it fails to comply with contractual conditions precedent? This was one of the main issues decided in KL Eco City Sdn Bhd v Tuck Sin Engineering and Construction Sdn Bhd [2020] MLJU 2457 involving the PAM 2006 Form of contract. Background Facts The KL Eco City Project was a […]

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