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Showing posts from October, 2013

Amendments To Practice Note 15 Of The Malaysian Code On Take-Overs And Mergers 2010

by Hung Kian Hoong

In This Article, Hung Kian Hoong Discusses The Amendments To Practice Note 15 Of The Malaysian Code On Take-Overs And Mergers 2010.

In September 2012, the Securities Commission (“SC”) issued an expanded Practice Note 15 (“Expanded PN15”) of the Malaysian Code on Take-overs and Mergers 2010 (“Code”) by inserting new paragraphs 3.1 to 3.28. These amendments, which came into effect on 1 November 2012, provide further guidance and requirements to be complied with by the independent advisers in making recommendations to the shareholders of a company that is subject to a take-over offer.

Currently, a company that is subject to a take-over offer is required to appoint an independent adviser to provide comments, opinions, information and recommendation on the take-over offer in an independent advice circular.[1] The independent advice circular is subject to the SC’s review and has to be cleared by the SC before it can be issued and despatched to the offeree shareholders.[2] …

REPORT: “When You Went Up a Hill but Came Down a Mountain” - Trip to Broga Hill

“Nothing can be compared to the new life that the discovery of another country provides for a thoughtful person. Although I am still the same I believe to have changed to the bones.”
― Johann Wolfgang von Goethe

So the life of a legal practitioner is not all about taxing meetings, trials and staycations at the office on weekends, after all. The Broga Hill Hiking Trip organised by the Pupil’s Welfare Committee has serendipitously debunked this long-standing myth.
At the wee hours of 21st September 2013, participants comprising of young lawyers, pupils and non-lawyers alike gathered at a meeting point in Bangsar. Taking a keen look at these participants, one could only presume of what they had gone through days before the hiking trip – their enthusiasm and eagerness to embark on an adventure had betrayed the weary look on their faces! Once the participants have gathered, Vince Chong, the Chairperson of the Pupils Welfare Committee briefed us on what to expect from the trip and we then dr…