Nazmi Zaini Chambers

Please be informed that our office will be closed for Year End and New Year from 23.12.2024 (Monday) until 01.01.2025 (Wednesday). In this period, we do not accept physical service of documents and cause papers. Our office will be opened for operation from 02.01.2025 (Thursday). Our operating hours on 02.01.2025 will remain as usual. #NazmiZainiChambers #YearEndFirmClosingPeriod

*Updates on AMLA 2001* The Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 (AMLA 2001) has undergone significant amendments with the passing of the 2024 Amendment Bill ("Bill"). The Bill was passed by the House of Representatives on 11th December 2024 and the primary objective of the Bill is to enhance supervision and enforcement measures to combat money laundering and terrorism financing effectively. With 52 clauses including proposed new sections, these amendments are a game-changer for Malaysia's financial landscape, aligning the nation with global standards like the FATF 40 Recommendations. Key highlights include: ✅ Broader scope addressing restricted activities like the proliferation of weapons of mass destruction. ✅ Enhanced public transparency on enforcement actions. ✅ Judicial powers for preventive measures to ensure compliance. ✅ Mandatory sentencing and increased liabilities for individuals and institutions. My Advisory & Compliance team has taken the opportunity to thoroughly review the Bill and has prepared this article as a useful reference for compliance officers and advisors in the months ahead to understand the full impact of these changes and what they mean for financial institutions and businesses operating in Malaysia. #Compliance #AML #FinancialServices #Regulations #AMLA2001 #AmendmentBill #NZC Nazmi Zaini ChambersNazmi Zaini

As we step into 2025, we appreciate the challenges and obstacles we faced in the last 12 months. Through commitment and dedication of our members, we evolved and strived to provide better services to our clients. For the new year, we keep our vision clear and strategy sharp to achieve new milestones together. Thank you to everyone who has been part of this incredible journey of our firm. #2024YearinReview #HappyNewYear2025

On 16 December 2024, Companies Commission Of Malaysia / Suruhanjaya Syarikat Malaysia (SSM) has issued the Practice Directive 10/2024 "Qualifying Criteria for Audit Exemption for Certain Private Companies in Malaysia". In general, the Commission has now allowed private limited companies who met the qualifying criteria to be exempted from preparing and submitting their audited financial statements. This move serves as a relief to many small and medium businesses in Malaysia who often found auditing requirements to be burdensome. Subject to the implementation in phases, Phase 1 is expected to commence in the financial period 2025 and targeting small businesses with revenue less than RM 1 million. Our corporate secretarial practice led by Aryn Rozali together with Maryam Amilah Zaini and our Pupils, Alif M S. Wan Tasnima Wan Mohsin has prepared this infographic on the recent PD. #NazmiZainiChambers #CorporateSecretarial Nazmi Consulting

Merry Christmas and Happy New Year from all of us at Nazmi Zaini Chambers. As we approach the end of the year, we would like to express our sincere gratitude to our clients and connections for your continued trust and support. We wish you and your loved ones a festive season filled with joy, peace and prosperity. #NazmiZainiChambers #MerryChristmas #HappyNewYear

On 14 December 2024, Nazmi Zaini Chambers celebrated its 4th anniversary with a meaningful luncheon at Lola by the Serai Group. Looking back on our incredible journey from a humble sole proprietorship in 2020 to a vibrant full-service law firm with 14 passionate lawyers, we are filled with deep gratitude for everyone who has supported us along the way. This gathering was not only a celebration of our milestones but also an opportunity to express our heartfelt appreciation to our incredible lawyers, their families, and everyone who has played a role in shaping our path. As we look to the future, we remain steadfast in our commitment to growth, excellence and innovation. We will continue diversifying our services, striving to deliver greater value to our clients, and embracing every challenge with optimism and determination. #NazmiZainiChambers #4thAnniversary

Our Managing Partner, Nazmi Zaini will be discussing on the topic of Business Development for Small Firms and Sole Proprietors: Challenges and Solutions, an event organised by the Bar Council Small Firms Practice Committee. Scheduled on 16.12.2024, Monday, 3.00 pm to 4.00 pm via Zoom, Mr Nazmi will be joined by other esteemed speakers - Mr S Saravana Kumar, Mr R Jayabalan, Ms Sukhdev Kaur and Ms Jamie Wong. You may register your interest to the webinar : https://lnkd.in/gTBUxMeZ

Private companies, particularly startups, often face unique challenges when raising funds. A common question is whether they can legally offer shares to the public. Under Section 43 of the Companies Act 2016 (CA 2016), private companies are prohibited from offering shares or debentures to the public. However, exceptions exist for cases involving conversion to a public company or using platforms approved by the Securities Commission Malaysia (SC), such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing platforms. These avenues allow private companies to secure funding while adhering to the law, offering structured pathways through regulated markets. Our Financial Services Associate, Maryam Amilah Zaini, highlights the importance of compliance with legal safeguards while exploring fundraising options. By leveraging tailored mechanisms like private placements, targeted offerings, and SC-approved platforms, private companies can navigate fundraising challenges effectively without infringing legal restrictions.

On 27.11.2024, our Deputy Managing Partner, Kevin Richard Nathan and Head of Advisory and Compliance and Partner, Fakhrullah Fadzilah had the honor of visiting Perbadanan Stadium Malaysia (PSM) for a briefing and meet and greet session with its Integrity and Legal Unit. PSM, a statutory body under the Ministry of Youth and Sports, is responsible for managing and overseeing sports complexes under the Ministry, including the iconic National Stadium, Bukit Jalil. During the visit, our Partners had the privilege of meeting the CEO of PSM and touring the National Stadium, the largest stadium in Southeast Asia. As we have recently been appointed to be on PSM’s panel of solicitors, the session provided valuable insights into the organisation's operations, legal needs, and expectations. We would like to take this opportunity to thank PSM their their trust and appointment. We look forward to supporting PSM in their mission of excellence and integrity. #TurunPadang #NazmiZainiChambers #PerbadananStadiumMalaysia #MinistryOfYouthAndSports #LegalServices #NationalStadiumBukitJalil

Our Managing Partner, Nazmi Zaini will be discussing on the topic of Business Development for Small Firms and Sole Proprietors: Challenges and Solutions, an event organised by the Bar Council Small Firms Practice Committee. Scheduled on 16.12.2024, Monday, 3.00 pm to 4.00 pm via Zoom, Mr Nazmi will be joined by other esteemed speakers - Mr S Saravana Kumar, Mr R Jayabalan, Ms Sukhdev Kaur and Ms Jamie Wong. You may register your interest to the webinar : https://lnkd.in/gTBUxMeZ