PETRONAS GAS BERHAD PETRONAS Gas Berhad (PGB) has been in business for 30 years and is still growing strong. Since its incorporation in 1983, PGB’s business has vastly expanded in spite of challenges faced. Today, PGB has prospered as Malaysia’s leading gas infrastructure and utilities with business presence throughout the country. ORGANISATIONAL STRUCTURE Definition of corporate governance “…is the process and structure used to direct and manage the business and affairs
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I. Executive Summary Flat Cargo Berhad (FCB) is a listed company that provides air cargo carrying services within the Asian region. The company owns five fully owned subsidiaries and the major shareholders of this company is Bangor Berhad. The company’s external auditor is Kencana & Associates where the audit team is led by Mr Chuah Mun Soong. On 5th February 2006, Mr Chuah has been informed by his team that there are some inconsistencies in the accounts of FCB. Therefore he has decided to
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Before we proceed to the discussion and analysis, we observed that the recent trends of developments of CSR in Malaysia are as follows:- 1. There is a need to disclose the Corporate Social Responsibility Report (CSRR) in order to have a better governance and corporate transparency; 2. The issue concerning environment has been taken into account; and 3. Child-friendly Corporate Social Responsibility shall be considered. Through our observation and analysis, it can be said that the recent emerging
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British American Tobacco Malaysia The Company’s corporate governance structure has been built and enhanced based on the following principles and best practices, Malaysian Code on Corporate Governance (Revised 2007) (Malaysian Code); Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Listing Requirements); Corporate Governance Guide: Toward Boardroom Excellence of Bursa Malaysia Securities Berhad (CG Guide); British American Tobacco Malaysia’s Code of Corporate Governance (BATM
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“Critically discussed if there are real reasons why institutional investors should be concerned about the independence and genuine effectiveness of the audit function? Search the findings of academic papers and other published sources to support your view.” Introduction An institutional investor is an organization that invests on behalf of the organization’s members. These investors are a part of corporate governance for companies and they have large amounts of money to invest. In Malaysia, there
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1.0 Introduction Flat Cargo Berhad (FCB) is an air freight services and ground handling company. Its company’s operations cover Asian Pacific region including China, Japan, Thailand, Singapore and many more. Their main customers are United Parcel Services (UPS), City Link and Nationwide Express. The main shareholder for FCB is Bangor Sdn Bhd which is part of Miri Group represented by 26.5% of the company interest. Kencana & Associates is the auditor company that audit FCB’s account. The leader
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MESSAGE RT. HON. DATO' SERI ABDULLAH HAJI AHMAD BADAWI PRIME MINISTER OF MALAYSIA Malaysia has been a successful developing country and is forging ahead to become a developed nation in its own mould. In order to be more successful, our nation has to be managed effectively and its weaknesses and shortcomings have to be overcome. A major challenge it has to address in this endeavor is the strengthening of ethics and integrity. The government has implemented the Prime Minister's Directive No. I of
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1. Auditors were unable to verify the aircrafts claimed to have been purchased by FCB in 2005. The audit team found around RM231m of non-functional rundown aircraft in hangar. This situation leads to potential fraud bcause those old aircrafts had high price tag.Thus, it will increase the holding cost or storage cost of the assets. Then, the auditor should conduct the common test procedure which includes the examination of vendors’ invoices and receiving reports. The auditor had to perform the physical
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Audit Committee, Board Characteristics and Earnings Management by Commercial Banks Jian Zhou Assistant Professor of Accounting School of Management SUNY at Binghamton PO Box 6000 Binghamton, NY 13902-6000 USA Email: jzhou@binghamton Audit committees being occupied by majority of outside members have no influence on the firm’s performance. This is because this study shows that the relationship between the audit committee and the two performance measures is not statistically significant
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INTRODUCTION Development of human resource in terms of mentality and intellectual capital is one of aimed areas under Ninth Malaysia Plan in Malaysia. To enhance the core competence, Malaysia has to convert from labor-intensive goods production to utilization of human knowledge and skills. Research by Tan (2000) found that only few companies listed in Bursa Malaysia reports intangible assets and a small percent of total assets of these companies disclosed intangibles other than goodwill. Thereby
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