ICDM Member’s Exclusive
Managing Turnaround Situations for PLCs

What potential personal liabilities do I face as a board director, if the Public Limited Company (PLC) I serve on is experiencing a decline and potential insolvency? It is important to understand how these liabilities can arise and the associated repercussions.

In the face of external factors that are beyond the Board’s control which can lead to a decline in business, it is crucial for Directors to take immediate action to reduce risks. One effective way to address insolvency issues is through the implementation of a turnaround programme, which amongst others, may include debt resolution.

To help Board Members of PLCs navigate these challenges, ICDM, in collaboration with Sage 3 and LCWP, is delighted to invite you to a dialogue session that aims to shed substantial light on mitigating risk for boards whenever businesses face severe decline.

This dialogue session is specifically designed for Board Members who possess a growth mindset. By attending this session, you will gain valuable insights and be better equipped to handle contingencies and ongoing situations of severe decline in business performance.

Participants will gain a broad understanding of:

1. Options for turnaround
2. Financial aspects, including methods of fundraising in challenging situations
3. Legal and regulatory perspectives such as the duty of Board Members in relation to creditors, the consequence of preferential treatment, etc.
4. Lesser known highly successful government initiatives to support turnarounds
5. Examining major turnaround cases in Malaysia – success stories
6. Why a growth mindset is critical, and what are the psychological factors that impede timely action?

Join us for an insightful session where a panel of esteemed board members will share their valuable experiences and perspectives on the effects of decline and insolvency. Gain firsthand knowledge of how these industry leaders have successfully navigated challenges and adeptly managed turnarounds.

Don’t miss this opportunity to learn from the best in the field. Register now for an enlightening discussion tailored for professionals like you.

During our conversations with Board Members, several pressing questions were raised, which will be addressed during the session.

1. Are boards fully informed about the optimal structure of deals to facilitate rights and placements, specifically in terms of minimising immediate losses, as many exercises may lead to a decline in value after issuance?
2. Do Board Members understand the reasons behind the growing prevalence of qualified accounts among PLCs?
3. Does the Board fully grasp the ramifications of Bursa’s PN 17 enforcement action in terms of value depletion?

Send us your pressing questions or issues you would like addressed during the dialogue session upon registration.

This dialogue session will be held under the Chatham House Rule.

Programme Agenda

Time	Topic
9.30 am	Registration & Networking (with light refreshments)
10.00 am	Opening & Context Setting Michele Kythe Lim, President & CEO, ICDM
10.05 am	Presentation: Turnaround and Addressing Performance Decline Philip Lau, Executive Director, Sage 3 Nathalie Ker, Partner, Lim Chee Wee Partnership
10.45 am	Panel Discussion & Dialogue with Attendees: The Path to Viability Ravindran Navaratnam, Executive Director, Sage 3 Angeline Lee, Group CEO, Propel Global Bhd. Nathalie Partner, Lim Chee Wee Partnership. Moderator : Dato’ Dr Zaha Rina Zahari, Executive Director, Sage 3.
12.00 pm	Session Ends.

Speaker & Panelists:

Philip has extensive investment banking experience over 15 years across multi-industries such as real estate, FMCG, financial institutions and manufacturing with leading global investment banks.  Many of the equity fund raising (IPOs, secondary raisings) and M&A transactions he led were cross border and complex in nature from a regulatory and cultural perspective.  In Jakarta from 2013-2017, he was engaged by a leading Indonesian conglomerate with a strong focus on real estate. Philip served in senior management positions as a board member of their IDX listed real estate and hospitality companies, advising on strategy, corporate finance, M&A, finance & accounting.

At Sage 3, Philip has overseen debt restructuring for financially distressed companies, managed M&A and fund-raising transactions to completion and reorganised the real estate division of a major state corporation.

Philip received a Bachelor of Arts in Accounting (Hons) from the University of Kent and is a Graduate of the Institute of Chartered Accountants (England and Wales)

Nathalie is a partner in Lim Chee Wee Partnership. Her practice focuses on contentious restructuring and insolvency, commercial and corporate disputes, and fraud and asset recovery.

Nathalie has authored various publications in restructuring and insolvency, fraud and general litigation, including the Malaysia chapter to the INSOL International and World Bank Group Global Guide on measures for distressed businesses in the Covid-19 crisis, the Malaysia Chapter of the Encyclopedia of International Commercial Litigation, the 2023 ICC Fraudnet Global Annual Report on recent trends in fraud litigation in Malaysia and the Thomson Reuters Asia publication on ‘Restructuring and Insolvency: A Commentary’.

Nathalie has given talks and conducted training sessions on restructuring and insolvency to the Kuala Lumpur Bar, to the Companies Commission of Malaysia, and to the Malaysian Employees Provident Fund. She recently spoke at the FIRE Starters (Fraud, Insolvency, Recovery, Enforcement) Global Summit in Dublin, Ireland in 2023.

Dato’ Dr Zaha Rina has vast experience across various industries such as real estate, financial services and oil and gas with multiple institutions, including Bursa Malaysia.  She has completed various listings and establishment of exchanges and M&A transactions. Currently, she holds directorships in multiple listed and private companies including the Chairman of Manulife Group and Mizuho Bank (M) Bhd. As a director of several Malaysian corporations, she has been a regular guest speaker at international conferences. Her key strengths include the ability to evaluate business strategies, effective management of stakeholders, a strong network of corporate leaders, and the ability to develop constructive relationships with management.

Dato’ Dr Zaha Rina received a Bachelors (Hons) of Accounting and Finance from University of Leeds, Master of Business Administration from University of Hull, and Doctorate in Business Administration from University of Hull, UK

Ravindran served as a Director of PricewaterhouseCoopers (PwC) Consultancy and held the position of General Manager of Corporate Services for Pengurusan Danaharta Nasional Bhd before his last posting as the Chief Information Officer of Bursa Malaysia (formerly the Kuala Lumpur Stock Exchange). He possesses a wealth of consulting experience gained from the UK, Asean, and China.

Ravindran is internationally recognized as an expert in banking crisis, including engagements with Danaharta, involvement with National Crisis Institutions during the AFC and GFC, and consulting roles for multilateral agencies such as the World Bank. He is a sought-after speaker at major international events.

Ravindran received a Bachelors of Science in Electrical and Electronic Engineering from University of Wales, Swansea. He is a qualified Graduate of Institute of Chartered Accountants (England and Wales), Order of Merit for Economics on ATC’s Graduate Conversion Examination.

In 2023, he is being honoured as a fellow of the University of Swansea.

Lee Sze Yeen, a Malaysian aged 44, graduated in 1999 with a Bachelor of Laws degree from the University of London, United Kingdom. She obtained her Certificate in Legal Practice in 2001 and was subsequently admitted as Advocate and Solicitor of the High Court in 2002.

She started her pupillage with Messrs Albar & Partners in 2001 before she became Associate in 2002, where she was involved in corporate banking matters. She was subsequently promoted to Senior Associate in 2005 and was admitted as Partner in 2008. Throughout her career with the firm, she was involved in business development of the legal firm as well as maintaining client relationships.

Ms Lee left the legal firm in 2012 and co-founded Messrs Koh Yew Chong & Partners. The firm subsequently changed its name to Messrs Lee & Koh in 2015. She was the Senior Partner and Head of Corporate and Finance Department, where she was responsible for the management and operations, finance function, business development of the firm, as well as the strategic planning, formulation and implementation of the firm’s business strategies.

In 2017, she left the legal firm and joined 2 Fish (SG) Pte Ltd, a Singapore oil and gas company, as Chief Operating Officer, where she was responsible for the operations of the company, as well as the strategic planning, formulation and implementation of the company’s strategies. In 2018, she left the company and joined our Company as Group Chief Operating Officer.