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Issue #9/2019 28 February 2019

New This Week Case(s) of the Week COASTAL ENERGY KBM SDN BHD v. GAPIMA SDN BHD [2019] 2 CLJ 573 Latest Cases Legal Network Series CLJ 2019 Volume 2 (Part 5) Articles LNS Article(s) Legislation Highlights Principal Acts Amending Acts PU(A) PU(B) Legislation Alert

COASTAL ENERGY KBM SDN BHD v. GAPIMA SDN BHD [2019] 2 CLJ 573
COURT OF APPEAL, PUTRAJAYA
ALIZATUL KHAIR OSMAN JCA, NALLINI PATHMANATHAN JCA, ZABARIAH MOHD YUSOF JCA
[CIVIL APPEAL NO: W-02(NCVC)(W)-1795-09-2016]
05 MARCH 2018

CONTRACT: Agreement – Logistic services – Providing warehousing and transportation of goods – Plaintiff issued various invoices for services rendered – Defendant's refusal to make payments due to dispute of invoices – Plaintiff detained conductors belonging to defendant to procure commitment from defendant to settle and make payments – Plaintiff instituted action to claim against defendant for certain sums – Whether plaintiff's invoices lacked sufficient supporting documents – Whether there should be a deduction of a certain sum from invoices issued by plaintiff – Whether trial judge's finding based on and supported by documentary evidence – Whether there was reason to disturb trial judge's findings

CONTRACT: Agreement – Logistic services – Providing warehousing and transportation of goods – Plaintiff issued various invoices for services rendered – Defendant's refusal to make payments due to dispute of invoices – Plaintiff detained conductors belonging to defendant to procure commitment from defendant to settle and make payments – Whether defendant suffered a loss of USD378,360 due to non-operation hours caused by detention of conductors – Whether detention of conductors illegal – Whether there was justification for detention of conductors – Whether plaintiff had right of general lien over conductors – Whether there was sufficient evidence to prove loss

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Legal Network Series

[2018] 1 LNS 123	WU SOR HWA & ORS v. DATO' SERI DR ABDULLAH FADZIL CHE WAN & ORS CIVIL PROCEDURE: Parties - Representative - Capacity to defend - Existence of court order appointing representative for any cases involving defendant - Whether litigation representative was competent to act on behalf of defendant in present case - Whether a court order must be obtained each time defendant is to participate as a party to an action CIVIL PROCEDURE: Parties - Leave - Action against mentally disordered person - Defendant's son appointed as litigation representative - Whether there was compliance with O. 76 r. 2(1) of Rules of Court 2012 - Whether leave of court was required under O. 76 r. 1A(1) of Rules of Court 2012 - Whether sufficed for intitulement of action to be amended to refer to litigation representative  For the plaintiff - Steven How & Derrick Oon; M/s Jamie Wong  For the defendant - George Miranda & Rubachandran Govindasamy; M/s Miranda & Samuel
[2017] 1 LNS 1844	MALAYAN BANKING BERHAD v. PP CRIMINAL PROCEDURE: Revision - Conviction and sentence under Wildlife Conservation Act 2010 - Vehicle subjected to forfeiture pursuant to prosecution and conviction - Vehicle hired by applicant owner to accused - Whether owner of vehicle entitled to notice before forfeiture took place - Whether absence of notice amounts to breach of natural justice - Whether owner has recourse to assert ownership - Remedies of owner - Whether proper case for revision - Criminal Procedure Code ss. 323, 325, 413  For the applicant - Azlinda Zainal Abidin; M/s K Sila Dass & Partners  For the respondents - TPR Nur Ainaa Ridzwan; Penasihat Undang-Undang Jabatan
[2017] 1 LNS 1842	PEMILIK/PENGENDALI ATAS TUBER RESTOREN, HAJI SALLEH MOHAMED & ANOR v. KABRA DEVELOPMENT SDN BHD TORT: Trespass - Damages - Preliminary costs - Whether plaintiff entitled to claim - Failure of defendant to dismantle and remove illegal structures from land - Continuing and deliberate trespass by defendant - Refusal by defendant to vacate land - Plaintiff's contractor unable to develop land - Delay of 122 days - Extension of time claimed by contractor TORT: Trespass - Damages - Preliminary costs - Whether plaintiff entitled to claim - Quantum of preliminary costs - Evidence supported by quantity surveyors and architects - Whether draft final account contained errors - Whether errors had effect in final amount of costs  For the appellant/D2 & D3 - Mohamad Zaidan & Firdaus Kamal; M/s Iza Ng Yeoh & Kit  For the respondent/plaintiff - Amirtha Mcpirapu; M/s Mohd Ashraf, Nik Zarith & Co
[2018] 1 LNS 76	KAYANGAN PARKING SDN BHD lwn. MAJLIS PERBANDARAN KANGAR KONTRAK: Perlanggaran - Ganti rugi - Perjanjian berkenaan urusan meletak kereta - Tuntutan oleh syarikat pengurusan tempat kereta awam terhadap pihak berkuasa tempatan - Penggantungan dan penutupan lot parkir bagi kegunaan pihak ketiga - Sama ada pihak berkuasa tempatan mempunyai hak untuk menggantung penggunaan mana-mana petak parkir - Sama ada pihak berkuasa tempatan berhak menyewakan lot-lot parkir yang digantungkan kepada pihak ketiga - Sama ada tindakan pihak berkuasa tempatan mengarahkan penurunan kadar kompaun merupakan perlanggaran perjanjian - Sama ada plaintif dibenarkan untuk menuntut kehilangan pendapatan apabila lot parkir digantung - Sama ada plaintif telah mengambil langkah-langkah untuk mengurangkan kerugian yang dialaminya PROSEDUR SIVIL: Pliding - Prinsip dan prosedur - Tuntutan ganti rugi teruk - Sama ada plaintiff telah memplidkan fakta dalam plidingnya bagi mewajarkan ganti rugi teruk ini - Sama ada kegagalan memplidkan butiran fakta membawa padah terhadap tuntutan ganti rugi teruk  Bagi pihak plaintif - Muhammad Aznel Azaharudin; T/n Aznel & Associates  Bagi pihak defendan - Kanesh Sundrum & Nurul Jannah Zakariah; T/n Kanesh Sundrum & Co
[2018] 1 LNS 101	PP lwn. ANAKANDA AZMAR AFIQ MOHD AZMAN PROSEDUR JENAYAH: Rayuan - Rayuan terhadap hukuman - Rayuan oleh pihak pendakwaan - Kesalahan berat - Hakim bicara menjatuhkan hukuman bon berkelakuan baik selama 2 tahun bagi kesalahan sumbang mahram - Sama ada hukuman penjara adalah mandatori bagi kesalahan di bawah s. 376B(1) Kanun Keseksaan - Sama ada hakim bicara telah terkhilaf dalam penghukumannya apabila memberi pertimbangan yang berlebihan kepada kesusahan yang akan dihadapi oleh tertuduh - Sama ada kesalahan sumbang mahram merupakan kesalahan yang dibenci oleh masyarakat  Bagi pihak perayu - Mohd Amril Johari, Timbalan Pendakwa Raya  Bagi pihak responden - Syed Muhammad Anwar Syed Lokman Hakim; T/n Hafiz Zuhair Adawiah & Co

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CLJ 2019 Volume 2 (Part 5)

COURT OF APPEAL

Coastal Energy KBM Sdn Bhd v. Gapima Sdn Bhd
Alizatul Khair Osman, Nallini Pathmanathan, Zabariah Mohd Yusof JJCA
(Contract - Agreement - Logistic services - Detention of goods caused loss to plaintiff - Whether loss proven) [2019] 2 CLJ 573 [CA]

 For the appellant - Yap Boon Hau & Tan Eng Keat; M/s Mah-Kamariyah & Philip Koh
 For the respondent - Christopher Arun, Kow Kean Fatt & Shivani Sothirachagan; M/s Ariff Rozhan & Co

Ekuiti Setegap Sdn Bhd v. Plaza 393 Management Corporation
Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Zaleha Yusof JJCA
(Civil Procedure; Land Law - Pleadings - Unpleaded issues - Maintenance charges and management fund - Claim for - Whether ought to be allowed) [2019] 2 CLJ 592 [CA]

 For the appellant - Lim Chee Wee, Manshan Singh & Lee Mei Hooi; M/s Skrine
 For the respondent - Steven Thiru, Aimee Liew, Au Yong Wai Nyan, David Ng Yew Kiat & Lim Zi-Han; M/s YH Teh & Quek

Ideal City Development Sdn Bhd v. PWC Bina Sdn Bhd & Other Appeals
Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Mary Lim JJCA
(Construction Law - Adjudication - Setting aside - Jurisdiction of adjudicator) [2019] 2 CLJ 615 [CA]

 For the appellant - GH Tee & Siew Kai Lee; M/s GH Tee & Co
 For the respondent - Daniel Lau; M/s CK Oon & Co

Syed Nadri Syed Harun & Anor v. Lim Guan Eng & Other Appeals
Rohana Yusuf, Idrus Harun, Mary Lim JJCA
(Tort - Defamation - Libel - Defence - Damages - Quantum) [2019] 2 CLJ 631 [CA]

(Appeals No: W-02(NCVC)(A)-685-04-2015 & W-02(NCVC)(A)-686-04-2015)
 For the appellants - Rueben Mathiavaranam; M/s Suflan TH Liew & Partners
 For the respondents - Americk Sidhu; M/s Americk Sidhu
(Appeal No: W-02(NCVC)(A)-695-04-2015)
 For the appellant - PG Cyril & Fahmi Adilah; M/s Cyril Zhafri & Co
 For the respondents - Americk Sidhu; M/s Americk Sidhu
(Appeal No: W-02(NCVC)(A)-696-04-2015)
 For the appellants - Adnan Seman; M/s Adnan Sharida & Assocs
 For the respondents - Americk Sidhu; M/s Americk Sidhu

Tiow Weng Theong v. Melawangi Sdn Bhd
Tengku Maimun Tuan Mat, Nallini Pathmanathan, Harmindar Singh Dhaliwal JJCA
(Civil Procedure; Tort - Documents - Emplacement of documents - Legal effects and consequences - Unpleaded issues - Whether would occasion prejudice - Defamation - Libel) [2019] 2 CLJ 655 [CA]

 For the appellant - Douglas Yee & Ong Chern Yii; M/s Douglas Yee
 For the respondent - Dhanaraj, Devandra & Kalai Selvi; M/s Kamil Hashim Raj & Lim

HIGH COURT

Litnah (M) Sdn Bhd v. Public Bank Bhd & Ors And Other Appeals
Tun Abd Majid Hamzah JC
(Contract; Customs & Excise; Road Traffic - Hire purchase - Vehicle seized by customs due to unpaid customs duties - Whether hire purchase agreement valid and enforceable) [2019] 2 CLJ 678 [HC]

(Civil Appeal No: BA-12BNCVC-44-12-2016)
 For the appellant - Srimurugan Alagan; M/s Srimurugan & Co
 For the 1st respondent - GC Tan & Dennise Teoh; M/s Shook Lin & Bok
 For the 2nd, 3rd & 4th respondents - Sandra; FC
(Civil Appeal No: BA-12BNCVC-45-12-2016)
 For the appellant - GC Tan & Dennise Teoh; M/s Shook Lin & Bok
 For the respondent - Priya Sukirthanandan; M/s Priya & Assocs

PP v. Samsul Arifin Bakar
Mohd Radzi Harun JC
(Criminal Law - Dangerous Drugs Act 1952 - Section 15(1)(a) - Self administration and consumption of dangerous drugs - Whether urine sample ought to be taken by a medical officer) [2019] 2 CLJ 692 [HC]

 For the prosecution - How May Ling; DPP
 For the respondent - V Santhiran; M/s Charanjit, V Santhiran & Partners

SKS Pavillion Sdn Bhd v. Tasoon Injection Pile Sdn Bhd
Ahmad Kamal Md Shahid JC
(Construction Law - Adjudication - Setting aside - Jurisdiction of adjudicator) [2019] 2 CLJ 704 [HC]

 For the plaintiff - LM Looi; M/s Dennis Nik & Wang
 For the defendant - T Baskaran & Roveena Tara; M/s DS Tara & Co

SUBJECT INDEX

CIVIL PROCEDURE

Documents - Bundle - Emplacement of documents - Legal effects and consequences - Agreed bundle of documents - Defamation action premised on letter and e-mail allegedly containing defamatory statements - E-mail placed in Part A of agreed bundle of documents - Whether existence, authenticity, contents and truth of documents agreed upon - Whether required proof of truth - Whether defence of justification proven - Whether there was basis for claim in defamation - Rules of Court 2012, O. 34 r. 2(2)(d) & (e)
Tiow Weng Theong v. Melawangi Sdn Bhd
(Tengku Maimun Tuan Mat, Nallini Pathmanathan, Harmindar Singh Dhaliwal JJCA) [2019] 2 CLJ 655 [CA]

Pleadings - Unpleaded issues - Claim for outstanding maintenance charges - Point on illegality not pleaded in defence and not raised in proceedings at High Court - Point on illegality raised for first time at appellate stage - Whether point raised involved new evidential material for determination - Whether point raised question of law and ought to be allowed - Whether would occasion injustice to other party
Ekuiti Setegap Sdn Bhd v. Plaza 393 Management Corporation
(Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Zaleha Yusof JJCA) [2019] 2 CLJ 592 [CA]

Pleadings - Unpleaded issues - Rules on pleadings - Defamation action - Action premised on letter and e-mail allegedly containing defamatory statements - Claimant initially pleaded that only one statement in e-mail was defamatory but attempted to introduce further allegedly defamatory statements during and after trial - Whether further alleged defamatory statements ought to be considered or adjudicated upon - Whether would occasion prejudice against other party
Tiow Weng Theong v. Melawangi Sdn Bhd
(Tengku Maimun Tuan Mat, Nallini Pathmanathan, Harmindar Singh Dhaliwal JJCA) [2019] 2 CLJ 655 [CA]

CONSTRUCTION LAW

Adjudication - Setting aside - Application to set aside decision of adjudicator - Allegations of breach of natural justice - Whether adjudicator correct in refusing to take into account reply - Whether adjudicator could rely on judgments that were not referred to him by parties - Whether there was breach of natural justice - Whether adjudication decision ought to be set aside - Construction Industry Payment and Adjudication Act 2012, ss. 5(2)(a) & 15(b), (d)
SKS Pavillion Sdn Bhd v. Tasoon Injection Pile Sdn Bhd
(Ahmad Kamal Md Shahid JC) [2019] 2 CLJ 704 [HC]

Adjudication - Setting aside - Application to set aside decision of adjudicator - Jurisdiction of adjudicator - Whether adjudicator could determine claim based on payment claim which lacked necessary cause of action - Whether adjudicator could determine claim based on final account, extension of time, variations and loss and expenses for delay - Whether adjudicator acted in excess of adjudication - Construction Industry Payment and Adjudication Act 2012, ss. 5(2)(a) & 15(b), (d)
SKS Pavillion Sdn Bhd v. Tasoon Injection Pile Sdn Bhd
(Ahmad Kamal Md Shahid JC) [2019] 2 CLJ 704 [HC]

Adjudication - Setting aside - Claimant issued payment claim before due date for payment - Whether claimant 'unpaid party' - Whether claimant had necessary locus standi to issue payment claim - Whether there was cause of action - Whether cause of action had accrued - Whether adjudication non-starter - Whether adjudication within jurisdiction of adjudicator - Whether adjudicator exceeded jurisdiction - Construction Industry and Payment Adjudication Act 2012, ss. 5(1), 15 & 16
Ideal City Development Sdn Bhd v. PWC Bina Sdn Bhd & Other Appeals
(Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Mary Lim JJCA) [2019] 2 CLJ 615 [CA]

Adjudication - Setting aside - Jurisdiction of adjudicator - Claimant issued payment claim before due date for payment - Whether claimant 'unpaid party' - Whether there was cause of action - Whether cause of action had accrued - Whether adjudication non-starter - Whether adjudication within jurisdiction of adjudicator - Whether adjudicator exceeded jurisdiction - Construction Industry and Payment Adjudication Act 2012, ss. 5(1), 15 & 16
Ideal City Development Sdn Bhd v. PWC Bina Sdn Bhd & Other Appeals
(Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Mary Lim JJCA) [2019] 2 CLJ 615 [CA]

CONTRACT

Agreement - Hire purchase - Purchase of vehicle from dealer financed by bank - Vehicle brought to mainland from Langkawi Island - Vehicle seized by customs due to unpaid customs duties - Purchaser commenced action against bank for declaration that the hire purchase agreement ('HPA') was null and void - Purchaser and bank entered into HPA without being aware customs duty not paid - Whether bank had good title to vehicle - Whether HPA valid and enforceable - Whether responsibility of hirer to pay customs duty - Customs Act 1967, s. 15(1)
Litnah (M) Sdn Bhd v. Public Bank Bhd & Ors And Other Appeals
(Tun Abd Majid Hamzah JC) [2019] 2 CLJ 678 [HC]

Agreement - Logistic services - Providing warehousing and transportation of goods - Plaintiff issued various invoices for services rendered - Defendant's refusal to make payments due to dispute of invoices - Plaintiff detained conductors belonging to defendant to procure commitment from defendant to settle and make payments - Plaintiff instituted action to claim against defendant for certain sums - Whether plaintiff's invoices lacked sufficient supporting documents - Whether there should be a deduction of a certain sum from invoices issued by plaintiff - Whether trial judge's finding based on and supported by documentary evidence - Whether there was reason to disturb trial judge's findings
Coastal Energy KBM Sdn Bhd v. Gapima Sdn Bhd
(Alizatul Khair Osman, Nallini Pathmanathan, Zabariah Mohd Yusof JJCA) [2019] 2 CLJ 573 [CA]

Agreement - Logistic services - Providing warehousing and transportation of goods - Plaintiff issued various invoices for services rendered - Defendant's refusal to make payments due to dispute of invoices - Plaintiff detained conductors belonging to defendant to procure commitment from defendant to settle and make payments - Whether defendant suffered a loss of USD378,360 due to non-operation hours caused by detention of conductors - Whether detention of conductors illegal - Whether there was justification for detention of conductors - Whether plaintiff had right of general lien over conductors - Whether there was sufficient evidence to prove loss
Coastal Energy KBM Sdn Bhd v. Gapima Sdn Bhd
(Alizatul Khair Osman, Nallini Pathmanathan, Zabariah Mohd Yusof JJCA) [2019] 2 CLJ 573 [CA]

CRIMINAL LAW

Dangerous Drugs Act 1952 - Section 15(1)(a) - Self administration and consumption of dangerous drugs - Collection of urine sample - Whether there was legal requirement for two samples of urine to be taken for tests - Whether urine sample contaminated - Whether urine sample ought to be taken by a medical officer - Whether necessary steps taken to request medical officer to take urine sample - Whether there was non-compliance of s. 31A of Dangerous Drugs Act 1952
PP v. Samsul Arifin Bakar
(Mohd Radzi Harun JC) [2019] 2 CLJ 692 [HC]

CUSTOMS & EXCISE

Customs duties - Vehicle - Purchase of vehicle from dealer financed by bank - Vehicle brought to mainland from Langkawi Island - Vehicle seized by customs due to unpaid customs duties - Purchaser commenced action against bank for declaration that the hire purchase agreement ('HPA') was null and void - Purchaser and bank entered into HPA without being aware customs duty not paid - Whether bank had good title to vehicle - Whether HPA valid and enforceable - Whether responsibility of hirer to pay customs duty - Customs Act 1967, s. 15(1)
Litnah (M) Sdn Bhd v. Public Bank Bhd & Ors And Other Appeals
(Tun Abd Majid Hamzah JC) [2019] 2 CLJ 678 [HC]

LAND LAW

Strata title - Maintenance charges and management fund - Claim for outstanding amount by management corporation against registered proprietor - Claim made based on statements of account - Whether management corporation tendered sufficient documentary evidence to support claim - Whether registered proprietor accepted statements of account as correct as no written dispute was filed - Whether management corporation succeeded in proving claim - Strata Titles Act 1985, ss. 41A, 45 & 52
Ekuiti Setegap Sdn Bhd v. Plaza 393 Management Corporation
(Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Zaleha Yusof JJCA) [2019] 2 CLJ 592 [CA]

Strata title - Maintenance charges and management fund - Contributions - Claim for outstanding contributions by management corporation against registered proprietor - Management corporation levied contributions on registered proprietor based on square foot - Whether in contravention with statutory requirement that levy of contribution ought to be on share unit basis - Strata Titles Act 1985, s. 45(3)
Ekuiti Setegap Sdn Bhd v. Plaza 393 Management Corporation
(Tengku Maimun Tuan Mat, Abdul Rahman Sebli, Zaleha Yusof JJCA) [2019] 2 CLJ 592 [CA]

ROAD TRAFFIC

Registration of motor vehicles - Vehicle brought to mainland from Langkawi Island - Vehicle seized by customs due to unpaid custom duties - Purchaser of vehicle commenced action against third, fourth and fifth defendants for being negligent in allowing vehicle to be registered and in the process allowed forged document to be used - Failure to verify authenticity of Borang K1 - Whether fourth defendant liable - Whether fourth defendant owed a duty of care to verify Borang K1 before allowing vehicle to be registered - Whether defendants negligent
Litnah (M) Sdn Bhd v. Public Bank Bhd & Ors And Other Appeals
(Tun Abd Majid Hamzah JC) [2019] 2 CLJ 678 [HC]

TORT

Damages - Quantum - Defamation - Libel - Articles published in mainstream newspapers and internet sites - Contents of articles revolved around Chief Minister's trip to Singapore - Statements insinuating Chief Minister divulged national secrets to Singapore leaders thereby compromising his loyalty to Malaysia - Whether words complained of defamatory of Chief Minister - Award on aggravating damages - Whether made without any legal basis - Whether defendants had acted in high handed or insulting manner to merit aggravating damages - Whether global award made excessive - Whether award of general damages appropriate
Syed Nadri Syed Harun & Anor v. Lim Guan Eng & Other Appeals
(Rohana Yusuf, Idrus Harun, Mary Lim JJCA) [2019] 2 CLJ 631 [CA]

Defamation - Libel - Articles published in mainstream newspapers and internet sites - Contents of articles revolved around Chief Minister's trip to Singapore - Whether statements insinuated Chief Minister divulged national secrets to Singapore leaders thereby compromising his loyalty to Malaysia - Whether words complained of defamatory of Chief Minister - Whether impugned statements untrue - Whether defence of justification proved - Whether impugned statements fair comment and based on any facts - Failure to comply with requirement of O. 78 r. 3(2) of Rules of Court 2012 - Whether defence of fair comment misplaced - Failure of defendants to establish an honest belief in truth of what had been published - Whether defence of qualified privilege ought to be dismissed - Failure to obtain clarification or verify truthfulness of statements - Whether there was presence of malice - Defence of Reynolds' principle - Whether fulfilled - Whether there was legal or moral duty on defendants' part to publish impugned statements - Whether defence of responsible journalism ought to be entertained - Whether claim for defamation sustainable - Whether defendants liable
Syed Nadri Syed Harun & Anor v. Lim Guan Eng & Other Appeals
(Rohana Yusuf, Idrus Harun, Mary Lim JJCA) [2019] 2 CLJ 631 [CA]

Defamation - Libel - Letter and e-mail allegedly contained defamatory statements - Legal effects of including e-mail in Part A of bundle of documents - Whether claimant ought to be allowed to adduce further allegedly defamatory statements at trial which were not pleaded in statement of claim
Tiow Weng Theong v. Melawangi Sdn Bhd
(Tengku Maimun Tuan Mat, Nallini Pathmanathan, Harmindar Singh Dhaliwal JJCA) [2019] 2 CLJ 655 [CA]

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LNS Article(s)

1. ENHANCING INVESTOR PROTECTION VIA FRAMEWORK FOR REGISTRATION OF TRUSTEES AND ISSUING HOUSES* ^{[Read excerpt]}
   by TAN WEI XIAN [2019] 1 LNS(A) xxvi

[2019] 1 LNS(A) xxvi



MALAYSIA

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ENHANCING INVESTOR PROTECTION VIA FRAMEWORK FOR REGISTRATION OF TRUSTEES AND ISSUING HOUSES*

by
TAN WEI XIAN

IN THIS ARTICLE, TAN WEI XIAN ANALYSES THE NEW GUIDELINES ON REGISTRATION AND CONDUCT OF TRUSTEES AND ISSUNG HOUSES.

Background and application of the new guidelines

The concept of "regulated activities" under the Capital Markets and Services Act 2007 ("CMSA") in Malaysia presently covers the following activities:

a. Dealing in securities;

b. Dealing in derivatives;

c. Fund management;

d. Dealing in private retirement scheme;

e. Advising on corporate finance;

f. Advising on investments;

g. Financial planning; and

h. Clearing for securities and derivatives.

. . .

* Published with kind permission of M/s Shearn Delamore & Co.

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2. THE NEW SGF CHARTING FUTURE DIRECTION FOR ISLAMIC FINANCE* ^{[Read excerpt]}
   by MOHAMMAD MAHBUBI ALI [2019] 1 LNS(A) xxvii

[2019] 1 LNS(A) xxvii



MALAYSIA

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THE NEW SGF CHARTING FUTURE DIRECTION FOR ISLAMIC FINANCE*

by
MOHAMMAD MAHBUBI ALI

Shariah is the backbone of Islamic financial institutions (IFIs). Ensuring Shariah compliance is imperative to maintain the confidence level of stakeholders and the public at large. Inadequate attention to the whole process of Shariah compliance inevitably triggers negative repercussions to the IFIs, such as financial loss and massive withdrawal.

Over the last two decades, a number of cases were brought to the court to challenge the Shariah compliance aspect of Islamic banking products. The judge’s decision to annul the underlying contract of Islamic banking products in some cases threatens financial losses to the bank. As a case in point, in the Arab Malaysian Finance Bhd v. Taman Ihsan Jaya Sdn Bhd & Ors [2009] 1 CLJ 419; [2008] 1 LNS 504; [2008] 5 MLJ 631, the court declared that bay’ bi thaman ajil (BBA) was invalid on the basis that the BBA facility was a bona fide sale transaction.

. . .

* Published with kind permission of the International Institute of Advanced Islamic Studies (IAIS) Malaysia. (www.iais.org.my).

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3. THE CONCEPT OF PEACEFUL CO-EXISTENCE: ANALYSIS OF THE TEXTUAL SOURCES OF ISLAMIC LAW ^{[Read excerpt]}
   by Dr. A.A. Owoade* Dr. S.O. Timehin** [2019] 1 LNS(A) xxviii

[2019] 1 LNS(A) xxviii



NIGERIA

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THE CONCEPT OF PEACEFUL CO-EXISTENCE: ANALYSIS OF THE TEXTUAL SOURCES OF ISLAMIC LAW

by
Dr. A.A. Owoade*
Dr. S.O. Timehin**

ABSTRACT

There are many verses in the holy Quran which point to the fact that, the concept of peace and Islam cannot be separated; in fact the literal meaning of Islam means peace. This is strongly rooted in the Quran and the Sunnah which are the major sources of Islamic law. Other sources of Islamic law also emphasise the importance of peace. This is not unusual as it is a condition precedent for all sources of Islamic law to derive their sources from the textual sources, especially the Quran. The effect of this is that, it shows uniformity in sharia' rules and is thus devoid of contradictions and human errors. This in effect means that anything that is anti-peace cannot be associated with Islam. This is so because of the divine nature of the religion of Islam. Hence, all adherents of the Islamic faith are to submit in totality to the dictate of the lawgiver and the Prophet as contained in the textual sources. This paper will also show the nature and effect of obedience and compliance to Islamic teachings and rules as contained in the sources of Islamic law and the consequence of strict compliance with such rules and teachings.

. . .

* Dept. of Islamic Law, Faculty of Law, University of Ilorin, Nigeria. Phone: 08034453656 / 08121487171. E-mail: mymission43@gmail.com, owoade.aa@unilorin.edu.ng

** Dept of Foreign Languages, Faculty of Arts, University of Lagos, Lagos, Nigeria. Phone: 08023361331/08067936076. E-mail: saeedot@yahoo.com

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