Corporate and Governance in Malaysia

INTRODUCTION
KLCC Property Holding Bhd
KLCC property Holding Bhd (KLCCP) is a public listed company since year 2004. The primary businesses of KLCCP are managing, controlling and developing the property in area around the KL twin town. It has two wholly-owned companies namely KLCC Urusharta Sdn Bhd and KLCC Parking Management Sdn Bhd which are providing facilities and car parking respectively.
In order to achieve the concept of “city within the city” which was proposed by former Prime Minister Tun Dr. Mahathir, government utilised the area in Ampang which was actually under Selangor Turf Club and Race Cause to build a new city centre that consist of international companies, public part (green area) , shopping complex and high class condominium. It would be a burden if the project was wholly managed by government, therefore KLCCP was formed to develop joint venture and attract more investors form the public. To date, KLCCP is managing more than RM 10 billion properties around Kuala Lumpur area (Lim, 2012) and the profits are growing rapidly.
Maxbiz Corporation Bhd Maxbiz is a Malaysia-based investment holding company and it was listed at the stock exchange since year 2002. The company founder and chief executive director is Datuk Vincent Leong Jee Wei. MKK industries Sdn Bhd and Maxbiz Chemicals Sdn Bhd are the arm of the Maxbiz Corporation Bhd. Unfortunately, Maxbiz has been slipped into PN 17 on January 2011.
The reasons for Maxbiz classified as PN 17 is due to the company have an unhealthy financial statue, unethical business operating and it does not has a proper business planning. After the company being listed, it has been making loss for few years continuously since 2008. Besides, the financial ratio of the company is not satisfactory as its current assets are unable to meet its debt, indicating a problem of liquidity. Moreover, the company also dealt with some law suit and issues these recent years because of the late payment to creditors.
Even

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