Hi there.

In one of case study of corporate governance of CPA Australia, Back Into The Fold: Capitaland's Privatisation Of Capitamalls Asia, one of the question is related to identify the CG issues which related to the board effectiveness that may affected due to CG issues.

Issues that I could identify in the case study is related to independent directors conflict of interest of CapitalMall Asia (CMA), where two of them also hold positions in the parent company CapitaLand (CL) which acquired CMA's shares which allowing CMA to go privatize.

If one of the director is an independent director of CL, can he be an independent director to CMA as well? As they are holding positions in both company, how does this affect CMA's shareholders?

Thank you.