Welcome to the July edition of our monthly legal newsletter. We are delighted to share with you the latest legal news and updates in the region, keeping you abreast of crucial developments in the legal landscape.
In the first article, we delve into the recently gazetted Solicitors’ Remuneration Order 2023 (“SRO 2023”). Our esteemed author sheds light on the revised legal fees within SRO 2023, comparing them with the provisions of Solicitors’ Remuneration Order 2005 (“SRO 2005”) and Solicitors’ Remuneration (Amendment) Order 2017 (“SRAO 2017”). This comprehensive analysis provides invaluable insights into the changes that will impact legal practitioners and clients alike.
Next, we bring you an important update on the Federal Court case of Govindaran Kumar A/L Muniandy & Anor v Eco Green City Sdn Bhd. Our esteemed Partner, Ankit R Sanghvi, and our associate, Chew Jin Heng, represented Eco Green City Sdn Bhd in this matter. The case delves into the intricacies of calculating liquidated damages, clarifying that they shall not be calculated from the date of electricity meter installation.
The third article discusses the importance of Shareholders’ Agreements in modern business settings with multiple stakeholders. The article also emphasizes the significance of well-drafted Shareholders’ Agreements in maintaining corporate viability, fostering harmonious business relationships, and mitigating disputes while clarifying rights and responsibilities among the shareholders.
Additionally, we explore the fundamental elements of a Service Agreement in a comprehensive walk-through. The author adeptly delineates key terms that should be incorporated in the
agreement to guarantee clarity and mutual understanding between the involved parties. A well-structured Service Agreement is essential to foster smooth collaborations and successful outcomes.
Lastly, our Tax Team delved into a case of Multi Square Sdn Bhd v Ketua Pengarah Hasil Dalam Negeri where the High Court ruled that the management fees paid by Multi Square to its holding company were not tax deductible. The case serves as a reminder to taxpayers of the significance of substantiating management fees expenses and ensuring that genuine services are rendered, supported by appropriate agreements and documentation, to claim tax deductions successfully.
We hope you will gain valuable insight by reading this month’s issue, and we welcome your questions and suggestions for future editions at email@example.com. As always, enjoy your read and have a great month ahead!