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Transmile: Accounting Fraud and Failure in Corporate Governance Transmile Group Berhad (Transmile), an investment holding company involved in the provision of air freight, aircraft engineering and maintenance services, pride itself as being a company with stellar performances, operationally and financially as well as its share price. In 2007 however, the company was hit with an accounting scandal with allegation that its revenues and profits had been materially overstated as far back as year 2004. The fiasco had resulted in negative consequences to both the company and its shareholders. Against this backdrop, issues of corporate governance (or the lack of it) and business ethics were raised to the fore. Hence, this case allows for discussions to better understand the aspects of corporate governance and business ethics involving several parties in this Transmile fiasco. (Please refer attachment for this article) Required: a. Comment on the weaknesses of corporate governance practices in Transmile Group Berhad's business operations. (I0 marks) b. Justify possible recommendations to address each weakness in (a) based on Malaysian Code of Corporate Governance 2020. Provide reasons for your answers. (10 marks) Transmile: Accounting Fraud and Failure in Corporate Governance Transmile Group Berhad (Transmile), an investment holding company involved in the provision of air freight, aircraft engineering and maintenance services, pride itself as being a company with stellar performances, operationally and financially as well as its share price. In 2007 however, the company was hit with an accounting scandal with allegation that its revenues and profits had been materially overstated as far back as year 2004. The fiasco had resulted in negative consequences to both the company and its shareholders. Against this backdrop, issues of corporate governance (or the lack of it) and business ethics were raised to the fore. Hence, this case allows for discussions to better understand the aspects of corporate governance and business ethics involving several parties in this Transmile fiasco. (Please refer attachment for this article) Required: a. Comment on the weaknesses of corporate governance practices in Transmile Group Berhad's business operations. (I0 marks) b. Justify possible recommendations to address each weakness in (a) based on Malaysian Code of Corporate Governance 2020. Provide reasons for your answers. (10 marks)