Subsidiary and holding company

According to wikipedia, "A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself, rather its only purpose is owning shares of other companies. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies. In the U.S., 80% or more of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed."
A subsidiary company has been further defined as, "an entity that is controlled by a separate higher entity[citation needed]. The controlled entity is called a company, corporation, or limited liability company; and in some cases can be a government or state-owned enterprise, and the controlling entity is called its parent (or the parent company). The reason for this distinction is that a lone company cannot be a subsidiary of any organization; only an entity representing a legal fiction as a separate entity can be a subsidiary."

The companies that I have been able to identify as being holding or subsidiary banks are as follows:

Holding company Subsidiary compan(y)ies

Citigroup Holding Private (Ltd) Citibank Berhad
Perwira Bintang Construction Sdn Bhd Perwira Bintang Holdings Sdn Bhd
Pesaka Trengganu Bhd
Pet Master Sdn Bhd









http://en.wikipedia.org/wiki/Holding_company
http://en.wikipedia.org/wiki/Subsidiary
http://www.ssm.com.my/acts/fscommand/a0125s0005.htm

Unclaimed Moneys Act 1965

http://www.lawyerment.com/library/kb/Banking_and_Finance/Banking/1152.htm
http://www.anm.gov.my/public_html/eng/default/khidmat.php

unfortunately in the business world, although ethics should be practised, it is not often done. A lot of corruption occurs and almost all the time, there will be someone who gets the short end of the stick. this is why there is a need to have acts imposed such as the unclaimed Moneys Act.
This ultimately is a way of making sure the unclaimed moneys is not kept by businesses for their own benefits. So what qualifies to be unclaimed money?

Moneys which are legally payable to the owner but have remained unpaid for a period of not less than one year.

Examples under this category are :
salaries, wages, bonuses, commissions and other payments due to employees;
dividends
profits declared for distributions;
insurance claims which have been approved for payment;
bank draft, cashier's order and other documents of similar nature which validity period have lapsed;
fixed deposits (without automatic renewal instructions) which have matured;
tender deposits for which the intended purpose has been fulfilled;
sundry creditors or sundry debtors with credit balance.

Malaysian law

The Malaysian legal system is based on English common law, and that is a very good thing for the country because the English common law is used internationally, and therefore people from around the world are able to identify with it.
If there are any problems with the Justice system within the country, they may require assistance from international sources to help them rule. This is a practice which Malaysia is familiar with since before January 1, 1985, the Federal Court was the highest court in the country but its decisions were further appealable to the Privy Council in London. Although it is not a common practice in today's age, it is still possible to request for assistance from these other countries if adequate rulings cannot be made, especially since they are neutral third parties.

http://jurist.law.pitt.edu/WORLD/malaysia.htm

Fraud

Fraud is a problem that is very common in today's society, and unfortunately most companies tend to fall victim to it. As in the case stated in the Mmegi newspaper, six men have been accused of defrauding the ministry of Education in Botswana through Limkokwing student names.
the problem with this situation is that it is very common and may not be receiving any real attention as something that is very harmful in society, even though it is, because other people will continue doing this, and in order to deter others from continuing in the same trend, it would be advisable to give these men harsh sentences, so as to make an example of them to society. it will also boost the confidence in business people on the government system that they are out to get justice served.

http://www.mmegi.bw/index.php?sid=1&aid=378&dir=2010/February/Wednesday24

Malaysian government and Botswana government system

The Botswana government structure and the Malaysian structure has certain differences which are quite noticeable.
The first major difference that we can note is the fact that in Malaysia, there is a king, as well as a Prime Minister, who each has their different functions and roles. Both have their advantages as well as disadvantages, for one, in the Malaysian system, there is a division of labour that occurs between these leaders, which can make the running of the country more efficient, although there can also be the problem of having the leaders disagree in certain issues, which may cause a conflict.
In a structure such as the one Botswana currently has, the president is the ruler and he is the one who coordinates everything.
The running of the country is also done with the help of the Ministers, who are also the members of Parliament.
Both of these countries however, are Democratic countries and have the right to choose who their president and Prime Minister should be.


http://www.malaysia.gov.my/EN/Main/MsianGov/YangDiPertuanAgong/Pages/YangdiPertuanAgong.aspx

http://bdtp.aed.org/bdtp/BCgovtstructure.htm

Our legal rights

They say that the more successful a business is, the more likely it is to be sued. This is because the likelihood for mistakes in this instance is more common. In order to avoid careless mistakes in business that opens an avenue for being sued, certain things may be done in order to avoid doing so, especially when it comes to raising money to fund the business.
There needs to be some form of knowledge by the business, how exactly to conduct their hiring, firing, maternity leave rights, sick leave, sexual harassment, and so forth. By having these identified beforehand, it avoids having any major difficulties in the future.
Also, it is often to have a legal adviser in a business who is able to advise the managers and other persons in the business on proper legal actions to take when necessary.

What do you think? (1)

When driving his car home in Georgetown, Ryan called and talked with his wife through his mobile phone without the use of hands-free device. While talking, he lost control over his car and eventually hit a walking pedestrian.

Is Ryan liable under civil or criminal law?

Should this case go to court, what will be Ryan’s right?

What should the pedestrian do to recover his injuries/loss?

Firstly, Ryan was at fault because he was using a mobile phone without using any hands-free device. In most countries at present, it is against the law to drive without the use of hand-free devices. He is therefore liable under criminal law, since there is a law against what he was doing.

Should the case go to court, Ryan's right will be to be fairly heard by the court, and not be found guilty before the case has been heard, that is unless he does plead guilty to his offences.

As a pedestrian, Ryan is supposed to pay for any damages that may have been imposed to him, which comprises of physical and psychological injuries, as well as any other inconveniences that may have been caused by the accident, such as loss of job.



For the second case, Geena commited a criminal as well as civil crime because she had commited fraud, which according to the law is illegal. Because she had bad business dealings with other people who she failed to make good on their investments, it falls under civil law, because it is a problem between two parties.