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The mining industry has consistently played a vital role in the country''s economic development as it serves as a backbone for the construction and manufacturing sectors, namely in supplying the relevant basic raw materials.1 For interested parties, this article will provide a brief insight as to the legal framework of mining industry in Malaysia.
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4.7 “Disposed” means an asset is sold, discarded or destroyed or it ceased to be used for the purposes of the business. 4.8 “Market Value” means the price for the goods sold in a transaction between independent persons dealing at arm’s length. 4.9 “Person” includes a company, a body of persons, a limited liability partnership
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