INTRODUCTION Winding up, also known as liquidation, is often described as a “death sentence” of a company.[1] This is because, a process of winding up a company results in its closure, with all assets being sold or liquidated to pay off debts. Any remaining proceeds are then distributed to the contributories i.e. mainly the shareholders. BACKGROUND There are two processes for a company to be wound up in Malaysia (i.e. voluntary winding up and compulsory winding up). Both proc

INTRODUCTION In Sarawak, during these recent years, there has been a rise in the number of sale and purchase transactions of housing accommodations or residential properties (“the properties”) under construction sold by various licensed housing developers (“the developers”). The Housing Development (Control and Licensing) Regulations 2014 (“the Housing Development Regulations 2014”) provides for the standard format of the contract of sale to be adopted within the State of Sar

(1) INTRODUCTION It is evident that there has been an increase in the housing developments of strata titled properties by various housing developers throughout Sarawak in these few years. Strata titled properties consist of buildings or land intended to be subdivided into parcels and subdivided building or land [including condominiums, apartments or townhouses with share facilities, landed properties in a shared development, “small office, home office” (SOHO), “small office,

(1) INTRODUCTION 1.1 In Sarawak, there are many leasehold lands in which the term or tenure thereof are subject to renewal conditional upon payment of a premium. The registered proprietor or through his/her appointed agent (“Applicant”) may submit the application for renewal of land lease at any time before the expiry of the existing lease to prevent any complication in respect of the matters and dealings relating to the land. 1.2 The application for renewal of land lease c

Current RPGT Rates (as of Year 2025) RPGT Rates Individuals (Malaysian Citizens / Permanent Residents) Companies / Trustee / Society registered in Malaysia Foreigners (Non-Citizens / Executor of Estate of Deceased Non-Citizen / Companies not registered in Malaysia) Disposal in 1st Year 30% 30% 30% Disposal in 2nd Year 30% 30% 30% Disposal in 3rd Year 30% 30% 30% Disposal in 4th Year 20% 20% 30% Disposal in 5th Year 15% 15% 30% Disposal in 6th Year & beyond 0% 10% 10% What is

Source: Malaysia Department of Insolvency & TheStar Total Number of Bankruptcy Cases Administered as at June 2025 119,297 Total Number of Bankruptcy Cases Administered from Year 2021 to June 2025 26,060 Total Discharge of Bankruptcy Cases under the Second Chance Policy (introduced in Oct 2023 during the tabling of Budget 2024) as at July 2024 142,510 (** Discharge threshold under the Second Chance Policy – to cover bankrupts aged 40 and below with debts not exceeding RM200,00

“Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors” - Joey Lauren Adams BANKRUPTCY VS. INSOLVENCY The terms “Bankruptcy” and “Insolvency” are often used interchangeably. Despite this, both terms refer to two different things. The latter refers to the financial state by which an individual and/or debtor is unable to meet their financial obligations and/or debts as they become due while the former is the le

In Malaysia, there are two methods for a person to be released from the status of bankruptcy, either through annulment of the bankruptcy order or through discharge as follows: (i) Annulment order under Section 105 of the Insolvency Act 1967 (“IA 1967”); (ii) Discharge by Court Order under Section 33(3) of the IA 1967; (iii) Discharge by the Director General of Insolvency (“the DGI”); and (iv) Automatic discharge under Section 33C of the IA 1967. A discharge in bankruptcy mark

Memento mori, the term which translates from Latin as “remember you must die” is a reminder of the inevitability of death, as that it is “the price that all men pay”[1]. Before death, an individual can ensure the administration of their estate in accordance to their wishes by preparing a valid Will stating how the estate is to be distributed after they have passed. In Sarawak, the executor/executrix of a Will is required to apply for a grant of probate at Amanah Raya Berhad o

(A) RM1.15bil Sarawakku Sayang Assistance Package by the Sarawak State Government The Sarawak State Government has announced a RM1.15bil...

Malaysia, just like many other countries, kicked off the year 2020 with enthusiasm for progress where all of us hoping to move forward...

Suruhanjaya Syarikat Malaysia (SSM) has announced the following measures and initiatives to reduce the burden of the business community...