Legal Updates for November 2021

Regional Guide on Fraud and Asset Tracing Litigation

The nature of fraud and asset tracing has becoming increasingly complex in light of globalisation and the almost seamless interconnectivity of the world's financial systems. The proceeds of fraud can now be dissipated in an instant across various jurisdictions, potentially frustrating any attempts at recovery whether via civil proceedings or by relying on the relevant government enforcement agencies. To increase the chances of recovery, it is important that fraudster(s) are quickly identified, with steps taken to trace any stolen assets in order to ascertain their location, after which the relevant applications should be filed to have them frozen to prevent further dissipation.

This publication serves as a guide to highlight:

(a) the similarities and differences in general framework between ASEAN jurisdictions in respect of fraud and asset tracing litigation;

(b) the options available to a fraud victim to identify the fraudster(s) and/or trace stolen assets;

(c) upon identification of the fraudster(s) and/or ascertaining the location of stolen assets, the mechanisms available to freeze such assets to prevent further dissipation; and

(d) the considerations to be taken into account when deciding on the appropriate jurisdiction to pursue recovery of any stolen assets, and the various courses of action that may be taken against the fraudster(s).

Highlights of the Employment (Amendment) Bill 2021

There has been great anticipation over the past few years on the proposed amendments to be made to the existing Employment Act 1955 ("Act") in Malaysia. The Employment (Amendment) Bill 2021 ("Bill") to amend the Act was tabled in Parliament for first reading on 25 October 2021.

Although the proposed changes set out in the Bill are less wide-ranging as previously envisaged, there are nonetheless notable proposed changes that may affect certain industries.

 This Update provides a summary of the material proposed amendments.

Update on Guide for Cross-Border Electricity Sales Issued by Energy Commission

Cross-border electricity trade is one of the means for effective utilisation of regional energy resources. It enables the demands of a region to be met in a cost-efficient manner. It creates opportunities for diverse natural resources to be utilised to meet the sustainability goals of individual countries.

As part of the Malaysian government's initiatives to achieve such goals, Malaysia has, since the 1980s, integrated its electricity supply system with two neighbouring countries, Singapore and Thailand.

On 25 October 2021, the Energy Commission of Malaysia ("EC") issued the second edition of the Guide for Cross-Border Electricity Sales ("Revised EC Guide"), revising the original Guide for Cross-Border Electricity Power Sales issued on 31 December 2020.

This Update provides the key changes in the Revised EC Guide.