What Amounts to a Conflict of Interest by Directors?
What Amounts to a Conflict of Interest by Directors?
Overview
Directors are expected to act for a proper purpose and in good faith in the best interests of the company, yet cases involving conflict of interest continue to dominate headlines. These range from diverting opportunities from publicly held companies without shareholders’ approval, to misusing information obtained from their position, for commercial profit. The recent allegations of misuse of classified information by PwC Australia obtained from their relations with the Australian Treasury department, diversion of funds from FTX Trading Ltd to Alameda Research LLC which had the same owner, and recent cases in Malaysian courts, shows that such conduct remains prevalent.
While some directors knowingly engage in transactions amounting to conflict of interest, others may not know their responsibilities or know how to identify such transactions by their fellow directors. Participants in this program will be exposed to various cases where conflict of interest has occurred and how to ensure, as directors, that they take the necessary steps to avoid breaching their duty. They will also be familiarised with the requirements under recent amendments to Bursa Malaysia’s Listing Requirements pertaining to conflict of interest and its impact on directors of listed issuers.
- Gain knowledge about directors’ obligations under the Companies Act 2016 and the recent amendments to Bursa Malaysia’s Listing Requirements;
- Gain knowledge about recent cases involving conflict of interest;
- Understand what amounts to informed consent;
- Apply the knowledge to carry out their duty to act in the best interests of the company.
- Chairman of Boards
- Board Committee Members
- Board of Directors
- Anyone who might find this program helpful
Khoo Guan Huat
Adjunct Senior Lecturer, Asia School of Business
Faculty Profile
Khoo Guan Huat read law at the University of Malaya and began his legal career with the Attorney-General’s Chambers, Malaysia, in 1987 before transitioning to private practice in 1993, focusing on litigation and arbitration matters. He is now practising from Khoo Chambers.
He is frequently engaged as senior counsel in civil and commercial disputes, including those involving intellectual property rights. His portfolio includes acting as lead counsel for the Customs and Tax Administration of the Kingdom of Denmark, as well as the State Governments of Johor and Kelantan, in various litigation proceedings. In 2008, he represented the former Chief Justice, Tun Mohd Dzaiddin, in inquiry hearings conducted by a Royal Commission set up by the Malaysian Government.
Designated by the Malaysian Government, Guan Huat currently serves on the International Centre for Settlement of Investment Disputes’ (ICSID) Panels of Arbitrators and Conciliators (2021–2027). He has also appeared as an expert witness on Malaysian law in arbitration and litigation matters in the United States and Singapore.
He advises on regulatory and compliance matters, including financial services, anti-corruption, anti-money laundering, product liability, and competition law.
Beyond practice, he is an adjunct Senior Lecturer at the Asia School of Business (in collaboration with MIT Sloan Management), where he regularly speaks on corporate liability and corporate governance matters.
1st Run – Registration Closed
RM 1,200*
- March 5, 2024
- 9:00 AM – 1:00 PM
- Hybrid
2nd Run – Registration Closed
RM 1,200*
- May 8, 2024
- 9:00 AM – 1:00 PM
- Hybrid
3rd Run – Registration Closed
RM 1,200*
- June 10, 2024
- 9:00 AM – 1:00 PM
- Hybrid