Legal Updates for September 2023

Updated Policy Document on Risk Management in Technology (RMiT): Additional Requirements Relating to Management of Cloud Technology Risks

On 1 June 2023, the Central Bank of Malaysia, Bank Negara Malaysia (BNM), issued an updated version of its Policy Document on Risk Management in Technology ("Updated RMiT PD").  This document sets out additional requirements for a financial institution's ("FI") management of cloud technology risks and the adoption of multi-factor authentication (MFA) security controls by FIs.


This Update seeks to provide a summary of the key requirements being introduced under the Updated RMiT PD that FIs should take note of.

Guide to the Real Estate Industry in Asia

A keen understanding of the nature of real estate and the legal and regulatory issues related to this asset class is critical to working out any real estate deal. In this third edition of Rajah & Tann Asia's "Guide to the Real Estate Industry in Asia", we share with you a brief overview of certain key insights to the real estate industry in Cambodia, China, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Topics covered include the legal framework, types of real estate, ownership and tenure, taxes and other important aspects for investors of real estate to note.

A key pillar of our strength is our Rajah & Tann Asia network with offices in Cambodia, China, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, as well as dedicated desks focusing on Japan and South Asia. With the most extensive legal network in Asia, our lawyers have a tight grasp of the local culture, business practices, and language not just within their own home countries, but in the other markets in which they frequently conduct cross-border deals as well. Our depth of transactional and regulatory experience allows us to advise clients strategically and creatively, from structuring to eventual execution and implementation of the transaction. It is important to seek specific legal advice in any corporate real estate matters, and our team would be pleased to discuss your specific objectives and requirements.

Malaysia's National Energy Transition Roadmap: Part 2 (Roadmap in Full)

Part 1 of the National Energy Transition Roadmap ("NETR") was launched by the Ministry of Economy of Malaysia on 27 July 2023, outlining ten flagship catalyst projects and initiatives based on six energy transition levers – (i) energy efficiency; (ii) renewable energy; (iii) hydrogen; (iv) bioenergy; (v) green mobility; and (vi) carbon capture, utilisation and storage. Please click here for our write-up on Part 1 of the NETR. 

Part 2 of the NETR was announced on 29 August 2023, which was essentially an introduction of the NETR in full and an introduction of, among others, the six levers and five enablers needed for the country’s energy transition. This Update sets out some of the key points of Part 2 of the NETR in brief.