The Kuala Lumpur Regional Centre for Arbitration (KLRCA) has issued a revised version of its fast track arbitration rules, the KLRCA Fast Track Rules 2nd Edition 2012. The new rules were launched on 27 February 2012 by Yang Amat Arif Tan Sri Arifin Zakaria, Chief Justice of Malaysia.

KLRCA first launched its fast track rules in 2010, with the aim of delivering a successful alternative to litigation for resolving commercial disputes in Malaysia. The revised rules have been modified so as to be consistent with KLRCA's Rules for Arbitration, which adopts the UNCITRAL Arbitration Rules) as well as the Arbitration Act 2005, as amended in 2011 (which adopts the UNCITRAL Model Law).

The recent Arbitration Amendment Act 2011 expressly broadened the scope of local courts' powers, particularly in relation to maritime claims. The revised rules now provide flexibility and allow for extensions of time and three-member arbitral panels, so that maritime claims can be heard and be dealt with appropriately. Parties can also call for experts in specialised and technical industries to be part of the arbitral tribunal, therefore providing the necessary technical knowledge to deliver just and fair decisions.

The revised fast track rules also introduce other procedural changes aimed at improving the arbitration process.