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The disclosure framework of related party transactions in selected asean member states
Abdul Razak, M. U1.
Related party transaction or RPT is a transaction that could either
be harmful or beneficial to the company and minority shareholders.
RPT can be considered as an efficient tool for the company or abused
by controlling shareholders. Therefore, one of the key factors to
address this transaction is through disclosure. This study applied
a content analysis method using materials that were largely librarybased including primary and secondary data. Primary data was
gathered from relevant theories to explain the application of the legal
theories. Meanwhile, secondary data was derived from published
materials, such as textbooks, journal articles and online databases.
In order to assess these materials, a combination of descriptive,
critical and comparative data analysis approaches was employed in
this study. This paper aims to understand the underlying applicable
legal theories on RPT by analysing and comparing the disclosure
framework in Malaysia, Singapore and Thailand that adopt the
ASEAN Disclosure Standards (“ADS”). This paper finds that there
is a disparity in the disclosure standard among these states despite
having ADS in place. This problem calls for a clearer ex-ante
approval process in ADS and to consider the model from European
Union’s Shareholders Amending Directive 2017/828 to improve the
disclosure framework in each jurisdiction. In conclusion, ADS has indicated the requisite for conflicted parties to declare and obtain
approval from minority shareholders, albeit its procedure and
minimal threshold remain unclear.
Affiliation:
- Universiti Teknologi MARA, Malaysia, Malaysia
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Indexation |
Indexed by |
MyJurnal (2021) |
H-Index
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1 |
Immediacy Index
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0.000 |
Rank |
0 |
Indexed by |
Scopus 2020 |
Impact Factor
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CiteScore (0.2) |
Rank |
Q4 (Law) Q4 (Sociology and Political Science) |
Additional Information |
SJR (0.164) |
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