The Malaysian Bar is considering the potential to further liberalise the legal sector where currently foreign players are limited to Labuan, said the International Trade and Industry Minister, Rafidah Aziz during the opening of Zaid Ibrahim & Co's overseas office in Bangkok on 8 March 2007.

Bernama of Malaysia reported that the Malaysian Courts are computerising their court administrative system.

AFTER 43 years in the legal profession, the Chief Judge of Malaya, Siti Norma Yaakob, retired on 5 January 2007.

The Malaysian government has postponed the implementation of a goods and services tax to allow businesses time to get ready.

Bank Negara Malaysia today announces that the locally-incorporated foreign banking institutions (LIFBs) operating in Malaysia will be allowed to establish up to four additional branches within a period of one year with effect from 1 January 2006. This operational flexibility represents the first of a phased approach of branching liberalisation, in line with the broad strategies outlined in the Financial Sector Masterplan.

myGovernment is the single gateway to information and services provided by Malaysian Government agencies on the Internet. The myGovernment initiative was undertaken by Malaysian Administrative Modernisation and Management Planning Unit (MAMPU). MAMPU is a central agency under the Prime Minister Department entrusted with the task of introducing administrative reforms in the public sector to upgrade the quality, efficiency, effectiveness and integrity of Malaysian public service in accordance with national goals.

The United States hopes to conclude any possible Free Trade Agreement (FTA) with Malaysia by June 2007, said Assistant US Trade Representative (USTR) for Southeast Asia and Pacific Affairs Barbara Weisel.

Bank Negara Malaysia issued today the revised Guidelines on Medical and Health Insurance Business to insurers which will replace the existing guidelines governing the medical and health insurance (MHI) business which was first issued in December 1998. The revised guidelines aims to promote more equitable and consistent treatment of consumers covered under MHI policies issued by both general and life insurance companies.

Bank Negara Malaysia announces today that the exchange rate of the ringgit with immediate effect will be allowed to operate in a managed float, with its value being determined by economic fundamentals. Bank Negara Malaysia will monitor the exchange rate against a currency basket to ensure that the exchange rate remains close to its fair value. Promoting stability of the exchange rate continues to be a primary objective of policy.

As part of Bank Negara Malaysia’s continuous effort to further enhance the business environment, increase efficiency of the regulatory delivery system and promote wider risk management options, further relaxations of the foreign exchange administration rules are made with effect from 1 April 2005. In addition, Bank Negara Malaysia has also reviewed and further liberalised the fixed deposit rate placed by non-SME corporations and non-residents with immediate effect.