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 is a distinguished litigator with over 30 years of experience. Commencing his legal career with the Attorney-General’s Chambers in 1987, he later joined Skrine, one of Malaysia’s leading full-service law firms, in 1993.
Designated by the Government of Malaysia as a member of the Panels of Arbitrators and Conciliators of ICSID (2021-2027), he has also been a member of the Board of Studies, Faculty of Law, University of Malaya since 2015, and has served on various committees at Bursa Malaysia, including the Compensation, Listing, and Market Participants Committees.
He is an Adjunct Senior Lecturer at the ICLIF Executive Education Centre (now part of Asia School of Business). Listed on the Asian International Arbitration Centre’s panel of arbitrators, he is also a panelist for Domain Name Dispute Resolution. He has extensive teaching experience at the University of Malaya, where he lectured in the Certificate in Legal Practice course (1990-2004) and taught the Law of International Trade in the LLM program (1990). Additionally, he is a fully registered Foreign Lawyer with the Singapore International Commercial Court.
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