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.