[Kuala Lumpur] Manage Business Liability & Obligations in Uncertain Times
Course Information
  • 24-Jun-2020
  • Pullman Hotel, Bangsar
  • Agee Lee
  • English
  • RM 680 RM 630
    Until 16 Jun 2020
  • 9:00am - 5:00pm
(A) Introduction

The COVID-19 outbreak has been declared a public health emergency of international concern by the World Health Organization. To combat this outbreaks, nowadays, most governments inadvertently enforce the movement control orders, which has displaced people, suspended the movement of goods, and delayed the completion of contracts or jobs.

It is said, even if the virus could be successfully contained in a relatively short space of time, it will leave a long tail of implications for businesses to manage. Indeed for a long while to come, there are liabilities and obligations of employers and employees to avoid and/or to perform, but these are legal. Already, developers and contractors had called on the government to quickly pass the COVID-19 (Temporary Measures) Bill, so as to lawfully protect players of all industries. Singapore and United Kingdom had already passed similar Acts. What are these liabilities and obligations that you, either as managers, developers and contractors got to worry about?

Unfortunately, for some companies, the impact has been so severe a restructuring is inevitable. What are the common methods, the impacts and consequences? In the worst case scenario, i.e. a business failure, what would happen to all stakeholders?

(B) Course Objective

• Reviewing liabilities & obligations on crises unleashed by COVID-19 pandemic
• Understand Contract Act 1950 for pertinent provisos that can be helpful at these times;
• Probe & gauge for the right terms or clauses of your contracts;
• Get ready for facing difficulties & frustrations (incl. huge losses);
• Position Appraisal on both party’s non-fulfilment of terms of contract;
• Appreciate suggestions on amending & adding new clauses of contract;
• Be aware on both party’s rights on the corporate legal recovery provided under the Company Act 2016;
• Avoid legal suits on bankruptcy, though quickly enforced, & then quickly familiarize with the modes of execution;
• Ways to settle, compromise or haggle your liabilities & obligations (remain solvent)

(C) Who Should Attend

• Business Owners, Shareholders, Directors
• CEO, CFO, General Manager, Top Management
• Managers, Supervisor, Project Manager, Team Leader
• Senior Executives in Finance, Project, Admin Domains
• Those who are tasked with in managing contracts in times of MCO & then after

(D) Highlights of Coaching
• Some Pertinent Issues, taken for granted & ignore in good times, to highlight the essential liabilities & obligations under a contract
• A participative presentation of this course
• Introduce & expand the most relevant terms in any contract often overlook
• Sharing the recovery tools to cool & calm, and motivate employees in this Covid-19 Crisis

(E) Date/Venue

Date: 24 June 2020 (Wed)
Time: 9AM - 5PM
Venue: Pullman Hotel, Bangsar

(F) Fees

Early Bird (before 2 Jun 2020) - RM580
Special Offer (before 16 Jun 2020) - RM630
Normal Fee - RM680

* Fee includes course Notes, Lunch, Refreshments/ Tea Breaks, * Certificate of Completion & 6% Government Service Tax

DISCOUNT
(i) 15% Overriding Discount for SST2u Loyalty Card members

(G) Course Features

MORNING
[01] NEED FOR FORCE MAJEURE EXEMPTION BILL OR A COVID-19 BILL
• Introduction
• REDHA calls for such BILL
• Support by Malaysian
• Parliament to enact BILL

[02] GET OUT OF CONTRACT IF BOTH SIDES MADE A MISTAKE
• Two categories of mistake
• Proposal or offer
• Acceptance
• Consideration
• Intention to create legal relations
• Capacity to contract
• Free consent
• Coercion
• Undue influence
• Fraud
• Misrepresentation, &
• Mistake

CASE LAWS ON: SECK v. WONG & LEE LIM YOH v. ASTANA
STRATEGI (M) SDN. BHD. & ANOR TARVELSIGHT (M) SDN BHD &
ANOR v ATLAS CORP SDN BHD

[03] IMPACTS ON CONSTRUCTION INDUSTRY
• Suspension & termination
• Impacts on construction contracts
• Force majeure at law
• Force majeure in type of contracts
• Frustration

NOON
[04] MCO & ITS IMPACT ON OTHER COMMERCIAL CONTRACTS
• Overview
• Force majeure clause
• Capture in agreement
• Seek or prevent relief for force majeure
• If there is no force majeure clause
• Who felt the impact?
• Steps to take to mitigate risk
• Handling of Contracts & Other Obligations
• Consider COVID-19 Cost Cutting Measures

[05] BUSINESS RESTRUCTURING – WHAT YOU NEED TO KNOW
• Types of restructuring
• Corporate voluntary arrangement
• Scheme of arrangement
• Judicial management
• Credit Debt Restructuring Committee
• Winding-up & interim liquidator
• Bankruptcy & voluntary arrangement

[06] ISSUES CONCERNING LIABILITIES ARISING FROM BUSINESS FAILURE
• Circumstances to winding up
• Role of receiver cum manager
• Solvency test
• Obtaining judgment debtor order
• Lodging & enforce correct mode of execution
• Commence bankruptcy
• What can go wrong with your banks in restructuring


(H) About Speaker

Agee Lee
- CONSULTANT/ EXPERIENCED EX-BANKER

Agee Lee has more than 22 years of experience in the commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad in 1980 to set up a Legal Documentation Department.

He started as a trainee officer moving up to Branch Manager, Loan Manager managing Corporate and Commercial Loans and finally as Head of Loan Recovery Division bringing down NPLs to RM65m from RM800m. He also worked in a property development company, then constructing a condominium and Nilai 3, for 2 years, and involved in a manufacturing company before working for 2 years in a construction company, executing federal contracts on roads, schools and colleges, in Kota Kinabalu, Sabah.

Besides marketing and approving the commercial loans, he was instrumental in setting up the Loan Recovery Section supervising about RM1.9b NPLs and was involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years. His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.

Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).

He is now a Training Consultant for IBBM, MIA and Banks in Malaysia, Singapore and Vietnam. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.

(I) Register/Contact

Email: SSTcourse@gmail.com
Contact:
General (03 - 8082 3357)
Teo (011 - 3178 9203)
Logesh (012 - 503 0346)
Siti (012 - 383 8603)
Han (019 - 323 0507)