myanmar - Corporate Law

Corporate Governance Code to be ready Next Year: minister

Myanmar is aiming to publish a Corporate Governance Code, said U Aung Naing Oo, permanent secretary of Ministry of Investment and Foreign Economic Relation.
Date: 16 May 2019; Type: Legal News; Source: Myanmar Times

Government issues Developer Licenses to construction Companies, Prospects Improve

Local businesses are now seeing a light at the end of the tunnel for the property and construction sectors, where demand has been low in recent years.
Date: 11 April 2019; Type: Legal News; Source: Myanmar Times

MyCo Registry starts accepting Company Filings

The Directorate of Investment and Company Administration (DICA)'s new electronic registry system will start accepting a number of forms related to company registration from today onwards. All company registration and filing processes has re-commenced since August 1 under the system Myanmar Companies Online (MyCO).
Date: 26 September 2018; Type: Industry Updates; Source: Myanmar Times

Company Admin Obligations to be simplified under the Law

When the Myanmar Companies Law is enforced come August 1, firms will no longer need to submit physical copies of original documents to the authorities as a digital online system will be used going forward,” said U Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC).
Date: 26 July 2018; Type: Legal News; Source: Myanmar Times

All Companies need to re-register starting from August 1

The President’s Office issued Notice 48/2018 last Thursday to announce that the new Myanmar Companies Law will go into force on August 1.
Date: 25 June 2018; Type: Legal News; Source: Myanmar Times

Listing Interest lackluster despite upcoming Law

Yangon, June 11 (MMT) -Though the new Myanmar Companies Law is less than three months away from being officially enforced, interest to list on the Yangon Stock Exchange (YSX) has not picked up as substantially as expected, said U Thet Tun Oo, senior executive manager of the YSX.
Date: 11 June 2018; Type: Legal News; Source: Myanmar Times

Draft Regulations of Companies Law released, go into effect in August

Public consultations of the draft regulations end on May 31. Existing companies registered in Myanmar have until January 31 next year to re-register on an electronic system once the new Companies Law and related regulations come into effect on August 1. Draft regulations of the Companies Law, which was enacted last December, have been rel ...
Date: 07 May 2018; Type: Legal News; Source: Myanmar Times

Draft Bill combines Corporate, Personal Insolvency in One Legislation

Today is the registration deadline for the consultation meeting on the Myanmar Insolvency Bill. The draft Insolvency Bill will replace three older laws to address corporate and personal insolvency in one legislation and will carve out a separate corporate rescue and insolvency regime for smaller businesses. Today, April 30, is the registr ...
Date: 30 April 2018; Type: Legal News; Source: Myanmar Times

INDUSTRY UPDATES

DOJ forms Special Team to probe Kidapawan Broadcaster's Slay

MANILA, Jul 12 (PNA) - Department of Justice (DOJ) Secretary Menardo Guevarra on Friday said he has ordered a special investigation team to look into the killing last Wednesday of radio commentator Eduardo Dizon who was gunned down on the way home in Kidapawan City, Cotabato.

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New BSP Deputy Governor sworn in

MANILA, Jul 12 (PNA) - Francisco G. Dakila Jr. received his oath of office as Deputy Governor for Monetary and Economics Sector (MES) in ceremonies administered by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday.

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Chief Justice heads Penang Honours List

GEORGE TOWN, Jul 12 (Bernama) - Chief Justice Datuk Tengku Maimun Tuan Mat heads the list of 877 recipients of state honours and honorary medals in conjunction with the 81st birthday of the Yang Dipertua Negeri of Penang Tun Abdul Rahman Abbas.

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INDUSTRY UPDATES

Prosecution failed to serve Summons on Shahrizat's Children, Court sets new Mention Date

KUALA LUMPUR, Jul 12 (Bernama) - The Sessions Court here today set Aug 5 for mention of a lawsuit filed by the Companies Commission of Malaysia (CCM) against two children of former Women, Family and Community Development Minister Tan Sri Shahrizat Abdul Jalil in connection with several offences allegedly committed by their company.

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INDUSTRY UPDATES

Free Legal Service to be provided for the Poor

Legal aid groups will provide free legal services to poor people and those in need of legal assistance across the country in an effort to support the rule of law and restore public trust in the judiciary.

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INDUSTRY UPDATES

Bill to increase Sabah State Seats to be tabled on July 17

KOTA KINABALU, Jul 11 (Bernama) - Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is confident the Bill for the additional 13 seats, to increase the number of state seats from 60 to 73, will be approved when it is tabled in Parliament on July 17.

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SolGen asks SC to dismiss Writ of Kalikasan Suit on WPS

MANILA, Jul 9 (PNA) - Solicitor General Jose Calida on Tuesday asked the Supreme Court (SC) to dismiss the petition filed against government agencies, which seeks unspecified action on the disputed areas in the West Philippine Sea.

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INDUSTRY UPDATES

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.

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INDUSTRY UPDATES

Sugar Tax: SME Traders can file Postponement Appeal

PARIT BUNTAR, Jul 7 (Bernama) - Small and Medium Enterprise (SME) traders affected by the sugar tax on sweetened drinks which came into effect this month, can file a postponement appeal to the relevant authorities.

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Sarawak Government has not Officially responded on the RM1 Loan Offer - MOF

KUALA LUMPUR, Jul 6 (Bernama) - The Sarawak state government has yet to provide any official feedback to the Federal government on the proposed loan offer, amounting to RM1 billion, which will be allocated for repairs of dilapidated schools in the state.

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Government offers Tax Incentives, grants to boost Participation in Expo 2020 Dubai

PUTRAJAYA, Jul 5 (Bernama) - The government has approved tax incentives and grants to encourage potential participating and contributing companies in the upcoming Expo 2020 Dubai.

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INDUSTRY UPDATES

PCC approves New Clark City Power Distribution Deal

MANILA, Jul 3 (PNA) - The Philippine Competition Commission (PCC) has approved the proposed joint venture between the Bases Conversion and Development Authority (BCDA) and the consortium of Manila Electric Company (Meralco) and its Japanese partners to develop a power distribution system in New Clark City.

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Airbnb wants clearer Guideline on Tourism Tax

KUALA LUMPUR, Jul 2 (Bernama) -- Online hospitality service brokerage company, Airbnb Inc urged the government to provide a clearer guideline on tourism tax for its type of business.

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INDUSTRY UPDATES

Malcontento to take oath as New Prosecutor General on July 2

MANILA, Jul 1 (PNA) - Justice Secretary Menardo Guevarra said newly appointed Prosecutor General Benedicto Malcontento may assume office as soon as he takes his oath Tuesday.

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INDUSTRY UPDATES

Go Online to partner with 8 Million MSMEs

Jakarta, Jul 1 (ANTARA) - The Communications and Information Ministry is targeting eight million micro, small and medium enterprises (MSMEs) to be partners of the Go Online program. Involving MSMEs and marketplace in the country, Go Online is a collaborative program between the government, MSMEs, and online shopping platforms to level digital market access and build a digital economy in Indonesia.

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INDUSTRY UPDATES

CUEPAC urges Government to review Minimum Wage

KUALA TERENGGANU, Jun 30 (Bernama) - The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) has urged the government to review the minimum wage in an effort to reduce the people’s cost of living.

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INDUSTRY UPDATES

MITI calls SMEs to sign up for IR4.0 Assessment

GEORGE TOWN, Jun 28 (Bernama) - The Ministry of International Trade and Industry (MITI) is encouraging small and medium-sized enterprises (SMEs) in the manufacturing sector to sign up for the National Policy on Industry 4.0 Readiness Assessment (Industry4WRD-RA).

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INDUSTRY UPDATES

Constitution Court taking on 32 MP Media shareholding Cases

BANGKOK, Jun 27(NNT) - Constitutional Court judges have agreed to take on 32 out of a total of 41 cases to do with Members of Parliament allegedly holding media shares, asking that the individuals submit their individual defenses within 15 days.

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