Managing Change at Muhibbah Engineering (M) Bhd

2017 ◽  
Vol 6 (1) ◽  
pp. 12-25
Author(s):  
P. R. Bhatt ◽  
R. Rathish Bhatt
Keyword(s):  
Organizational Culture ◽  
Board Of Directors ◽  
Executive Director ◽  
Vice Chairman ◽  
Managing Change ◽  
The Board Of Directors ◽  
Construction Works ◽  
The Way

Tuan Haji Mohamed Taib bin Ibrahim, chairman of Muhibbah Engineering Bhd (MEB), called a meeting of the board of directors to discuss the issue of Asia Petroleum Hub (APH) project on 27 July 2012. The construction works for APH were stopped as APH financier of CIMB Bank Bhd, suspended its financing in 2009. Asia Petroleum Hub was later wound up under a winding-up petition filed by a creditor in October 2012. Muhibbah board decided to pay net debt exposure of RM 245 million certified claims from APH keeping Muhibbah’s right to pursue recovery. Mac Ngan Boon, the managing director, suggested drastic changes in the company’s structure, roles, responsibilities and organizational culture to put the company on a path to sustainable profits. Datuk Zakaria bin Abdul Hamid, vice chairman and independent non-executive director, and Abd Hamid bin Ibrahim, another independent non-executive director, endorsed Mac Ngan Boon’s suggestions. The board has to decide the way forward.

NEWS AND ANNOUNCEMENTS

PEDIATRICS ◽  
1951 ◽  
Vol 7 (5) ◽  
pp. 738-739
Keyword(s):  
Medical School ◽  
Board Of Directors ◽  
Executive Director ◽  
Medical Science ◽  
Teaching And Research ◽  
Fourth Group ◽  
School Teaching ◽  
The Board Of Directors

Twenty medical scientists have been named as the fourth group of "Scholars in Medical Science" appointed by the John and Mary R. Markle Foundation as part of its program to keep young doctors on medical school teaching and research staffs, John M. Russell, executive director of the fund, announced yesterday. Mr. Russell also announced the decision of the Board of Directors to increase the amount of the grant $1,000 a year, making the 5 year total $30,000 instead of $25,000.

scholarly journals Corporate Governance, Executive Directors and Level of Voluntary Disclosure: The Case of Public Listed Companies in Thailand

2020 ◽  
Author(s):  
Jakkravudhi Chobpichien ◽  
Daing Nasir Ibrahim ◽  
Hasnah Haron
Keyword(s):  
Corporate Governance ◽  
Family Member ◽  
Board Of Directors ◽  
Voluntary Disclosure ◽  
Executive Director ◽  
Executive Directors ◽  
High Concentration ◽  
The Family ◽  
The Board Of Directors

This paper extends the literature on voluntary disclosure by reference to a developing country, namely Thailand, through a study of 70 voluntary disclosure items in the corporate annual reports of 317 public listed companies in 2004. The study examined the relationship between the level of voluntary disclosure and a single characteristic of corporate governance characteristics, namely the quality of the board of directors. It further examined the influence of the executive directors on this relationship. The findings suggested that the quality of the board of directors is positively associated with the level of voluntary disclosure, and this association appears to be weaker for firms with an executive director that has the family member, largest shareholder involved compared to the non-family member, largest shareholder and a high concentration of executive directors’ ownership compared to a low concentration of executive directors’ ownership. This effect is further exacerbated when board of directors’ quality levels increase. It was found that an executive director that has the family member, largest shareholder involved, and a high concentration of executive directors’ ownership are quasi moderators, which means they are both an independent and a moderating variable. As control variables, size of company, auditor type, and earnings return were found to have a significant influence on the level of voluntary disclosure. These results have important implications for good corporate governance policy formulation.  

scholarly journals Effects of Board of Directors' Characteristics on the Quality of Accounting Information in Brazil

2014 ◽  
Vol 25 (66) ◽  
pp. 255-266 ◽  
Author(s):  
Luciana Holtz ◽  
Alfredo Sarlo Neto
Keyword(s):  
Board Of Directors ◽  
Executive Director ◽  
Accounting Information ◽  
Market Liquidity ◽  
Board Independence ◽  
Earnings Informativeness ◽  
Information Relevance ◽  
Quality Of Accounting Information ◽  
The Board Of Directors

One of the board of directors' responsibilities is to monitor the quality of information disclosed in financial reports. The board's structural and compositional characteristics can affect the quality of reported accounting information. The aim of this study was to investigate the effects of the board's structural and compositional characteristics on the quality of accounting information of companies listed on the Brazilian Securities, Commodities, and Futures Exchange (Bolsa de Mercadorias e Futuros - BM&FBovespa). Specifically, the characteristics studied were the size and independence of the board of directors and separation of the roles of chairman and executive director. Accounting information relevance and earnings informativeness were used as proxies for the quality of accounting information. The sample included non-financial companies listed on the BM&FBovespa with annual stock market liquidity higher than 0.001, covering the period from 2008–2011. Data were collected from the Economática® database and directly from companies' annual reports and reference forms available on the Securities Commission (Comissão de Valores Mobiliários - CVM) or BM&FBovespawebsites. Data analysis was undertaken using the multiple regression technique for calculating the models of accounting information relevance and earnings informativeness. The results reveal that, for companies that trade stocks on the BM&FBovespa in the Brazilian market, the characteristics of board independence and separation of the roles of chairman and executive director positively influence the quality of reported accounting information, specifically regarding the relevance of equity. Earnings informativeness is positively affected by board independence and negatively affected by larger board size (more than nine members). Overall, the results corroborate international studies such as those of Vafeas (2000), Firth, Fung, and Rui (2007), Ahmed, Hossain, and Adams (2006) and Dimitropoulos and Asteriou (2010), especially regarding board independence. The study showsthat stronger governance structures have a positive effect on the quality of reported accounting information.

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