Articles by Tay & Partners (September 2023)
Law firm Tay & Partners released 3 articles in the month of September. Click on the links below to read the articles.
Navigating the Franchise Landscape in Malaysia
By Lee Lin Li & Chong Kah Yee
In recent years, franchising has emerged as a dynamic and popular business model globally, which enables companies and businesses to expand their brand presence while offering entrepreneurs an unparalleled opportunity to operate under recognized brands with proven business system, concept, expertise, support, and know-how of the well-established brands. In particular, the franchise industry in Malaysia experiences significant growth and adoption rates, with more and more business owners contemplating expansion locally and internationally through franchising.
Reshaping Ownership: The Path to Freehold Status
By Hoong Wei En & Ng Shu Pyng
In the realm of land tenure, the distinction between lands with freehold tenure and leasehold tenure has profound implications for property ownership and the rights associated with it. While freehold land grants perpetual ownership, leasehold land only offers possession for a fixed term of up to a maximum of 99 years. For leasehold lands, the consequence is that the land will revert to the relevant State Authorities at the end of the leasehold tenure unless an application is made to extend the leasehold tenure.
The Right of a Lessor to Repossess Its Aircraft or Aircraft Engine
By Cheah Soo Chuan & Khor Wei Wen
The International Air Transport Association (IATA) Document No. 5016-01 Master Short-Term Engine Lease Agreement (“IATA Master Agreement”), a commonly used document in the aviation industry, is usually incorporated into a lease agreement between a lessor and a lessee for leasing of an aircraft or aircraft engine (“Lease Agreement”). The IATA Master Agreement provides for several contractual remedies to a lessor in the event of default by a lessee, which include the right to take possession of its aircraft or aircraft engine.
