Source of article: THE STRAITS TIMES

My post on LinkedIn can be seen here.

In summary:

A director must at all times be vigilant and use his best endeavours to be fully apprised of the affairs of the company.

He has a duty to act diligently and honestly in the best interests of all the stakeholders of the company, including the shareholders, creditors and employees of the company.

A director cannot be a sleeping director. He is not entitled to raise the defence that he is merely a nominee director, when the company is in trouble and the enforcement agencies take action, or when faced with a law suit for negligence or mismanagement. The law imposes statutory and fiduciary duties on all directors to act with due care, irrespective of their executive or non-executive positions.   

I gave my comments to Ms Grace Leong in the attached story published on 7 February 2024 by the Singapore Straits Times.

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