Highlights:
- High Court rules Shafie rightful CM of Sabah
- SC Committed to Strengthening Trust and Confidence of Investors
- MATRADE, Bank of China ink trade, development pact
- UOB reaffirms commitment to China with new headquarters in Shanghai
- Construction waste regulations in seven states next November
High Court rules Shafie rightful CM of Sabah
The High Court in Kota Kinabalu has ruled that the appointment of Datuk Seri Mohd. Shafie Apdal as the new Chief Minister of Sabah is constitutional and therefore he is the rightful chief minister of the state. Judge Datuk Yew Jen Kie held that Datuk Musa Aman had lost the confidence of the majority of the assembly after six Barisan Nasional assemblymen shifted their support to Datuk Seri Mohd. Shafie. She also ruled that Sabah Yang di-Pertua Negeri Tun Juhar Mahiruddin had exercised his powers under Article 6(3) of Sabah Constitution to appoint Datuk Seri Mohd. Shafie as the new Chief Minister after finding Datuk Musa no longer commanded the confidence of the majority of the assemblymen.
SC Committed to Strengthening Trust and Confidence of Investors
The Securities Commission Malaysia today hosted over 100 regulators, academics, representatives from global and regional institutions at the annual Asian Roundtable on Corporate Governance (ARCG), organised jointly by the SC and the Organisation for Economic Cooperation and Development (OECD). SC’s Chairman Datuk Syed Zaid Albar said there is growing awareness amongst governments and regulators that sustainable economic growth requires a proactive regulatory approach. To build strong businesses, regulators need to put in place an effective oversight of business activities, he said. “It is better to ensure good governance now because it is far less costly than paying for consequences of bad governance later”, he said. “The new government is determined to restore Malaysia’s status in global public governance standings. The SC will remain vigilant in its pursuit of any potential breaches of securities law and it is my remit, and that of the SC, to discharge our duties with the utmost professional competence and highest levels of personal integrity,” he added. He also stressed that gender diversity on board and senior management remains a key priority in the SC’s corporate governance agenda. “In order to accelerate Malaysia’s national target of 30% women on boards by 2020, the SC has introduced various initiatives to encourage a more diverse board composition.
MATRADE, Bank of China ink trade, development pact
The Malaysia External Trade Development Corporation (MATRADE) has appointed Bank of China (BOCM) as its official partner to jointly promote the Sino-Malaysia economic and trade development, and investment cooperation through the bank’s networks and platform. MATRADE signed a memorandum of understanding (MoU) with BOCM yesterday in Shanghai.
UOB reaffirms commitment to China with new headquarters in Shanghai
United Overseas Bank (UOB) today reaffirmed its long-term commitment to China at the opening of its new headquarters building in Shanghai. UOB Plaza is the first Grade-A office building owned by a foreign bank in the Lujiazui Financial District. The district is China’s largest financial hub driving Shanghai’s development as an international financial centre. With 20 floors and more than 35,000 square metres of floor area, the building houses UOB (China)’s head office, Shanghai Branch and Free Trade Zone Sub-branch. Seven hundred of the Bank’s employees are based in UOB Plaza.
Construction waste regulations in seven states next November
Starting from 1 November 2019, construction waste generators and collectors in seven states will have to comply with construction waste regulations of the National Solid Waste Management Department (JPSPN). The Housing and Local Government Ministry said the states involved in the adoption of the Solid Waste and Public Cleansing Management Act 2007 (Act 672) are the Federal Territories of Kuala Lumpur and Putrajaya, Perlis, Kedah, Pahang, Melaka, Negeri Sembilan and Johor. In this regard, he said construction waste generators were required to take several actions including separating solid waste, providing suitable containers and keeping a record of waste collection. “They should also appoint collectors licensed by JPSPN. Application for licence can be made manually from January 1 2019 to provide waste collection services,” it said.
