Kuala Lumpur: Business licences can be cancelled if rented to foreign workers, violating the conditions stipulated under local authority regulations, according to the Economy Ministry.
The Economy Ministry is reviewing measures to enact an Anti Rent-Seeking Act to address the causes, issues and challenges of rent-seeking. The proposed Anti-Rent-Seeking Act addresses the lack of comprehensive and effective legislation to curb rent-seeking. Existing laws, such as the Anti-Corruption Commission Act 2009, Competition Act 2010, Companies Act 2016, and various by-laws, are deemed insufficient, it said.