SHAH ALAM (March 18, 2021):An offshore vessel support company has become the first company in Malaysia to be charged with a newly introduced provision which imposescorporate liabilityunder the Malaysian Anti-Corruption Commission (MACC) Act 2009.

The above allegation against Pristine Offshore Sdn Bhd carries the penalty of fine 10 times the amount of bribery or imprisonment not more than 10 years if convicted; the latter to be served by the company's officers .

Based on the above news and the Companies Act 2016, explain:

a)the concept of "directors' fiduciary duty" and

b)whether this concept relates to the concept of "corporate liability".

Link:

https://www.theedgemarkets.com/article/offshore-company-first-be-charged-under-maccs-new-law