Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

/SOALAN MARKS/MARKAH 1. Since 2011, Malaysia Pacific Corp Bhd (MPCorp) has not been able to make any profit except in 2013 when there was a

/SOALAN MARKS/MARKAH 1. Since 2011, Malaysia Pacific Corp Bhd (MPCorp) has not been able to make any profit except in 2013 when there was a revaluation surplus on investment properties. On 1st December 2014, MPCorp fell into Practice Note 17 (PN17) category and in 2019, net loss came up to RM81.07 million on revenues of RM14.63 million. However, in 2019, MPCorp paid out RM2.46 million collectively to its vice- chairman and executive director Kong Yuk Chu and her children, CEO and executive director Charles Ch'ng Soon Sen and executive director Ch'ng Se Hua. The other three independent non-executive directors were paid RM155,200 collectively. Kong Yuk Chu held 51.36% of the shares of the company but her children did not hold any shares. Nomination and Remuneration Committee members consisted of all three independent non-executive directors. Using a case study technique, advise the remaining shareholders of the company on the best course of action to address the governance issues affecting the company

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cma Part 1 Financial Reporting Planning Performance And Control

Authors: Nathan Liao

1st Edition

1545045992, 978-1545045992

More Books

Students also viewed these Accounting questions