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Directors' duties: Go back to basics

They should focus on the core issue: Does this benefit the company; does this harm the company; or is this in the company's best interests?

Directors' obligations are manifold as they face a raft of rules and regulations - the Companies Act, the Securities and Futures Act, the Listing Manual, and their general fiduciary obligations.

IT'S tough to be a director of a listed company these days. When things go wrong, they are always in the line of fire. Did they perpetrate or condone the wrongdoing? Or were they just wilfully blind, negligent or sleeping on the job while collecting their fees? The buck stops at the board, and...

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