Company directors held responsible now

THE business community in Malaysia is still buzzing over news that a private offshore vessel support company has been charged under the newly gazetted Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009 on Corporate Liability. It is the first company to be charged under this section.

Under Section 17A, the MACC is now able to directly impose corporate liability on commercial organisations whose internal or external associated persons are involved in corrupt practices or dishonest commercial misconduct. This happens when a charge sheet is directed towards any associated person who offers, agrees to give, promises or gives any gratification to another party to gain an advantage or retain or attain new business for that organisation.