Document background
The Conflict of Interest Waiver is essential in Malaysian business practice where complex corporate structures and relationships often create potential conflicts of interest. This document is particularly relevant given Malaysia's business environment, which features numerous family-owned businesses, government-linked companies, and interconnected corporate groups. The waiver ensures compliance with the Companies Act 2016 and Malaysian Code on Corporate Governance 2021, documenting full disclosure of conflicts and obtaining necessary approvals. It's commonly used in situations involving director's duties, related party transactions, multiple directorships, or business opportunities that may create conflicts. The document typically includes detailed conflict descriptions, acknowledgments of disclosure, specific waiver terms, and necessary corporate approvals.
