I agree with one of the earlier posts that you need to check your terms and conditions of employment on whether you are allowed to engage in outside employment. The issue is not really conflict of interest. The issue is that as an employee, you are expected to devote your time and energy to your current job. If you are planning to be actively involved in the new company, your present employer might be concerned that this will affect your job performance. It's best that you be transparent with your present employer to avoid any problems later on.

This is an example of an employee code of conduct: https://harps.com.my/wp-content/uploads/202...or-employee.pdf

Note that clause 1 specifically deals with 'exclusion of other occupations'. This shows just how important this issue is to employers.

This post has been edited by hafiziza: Aug 26 2023, 12:47 PM

I also advice that you check whether the company has directors and officers liability insurance policy (D&O) for its directors.

D&O protects directors against personal liability that they might incur in respect of claims made against them arising out of the performance of their duties. All reputable companies have D&O for their directors.

This is an example: https://www.chubb.com/my-en/business/direct...-insurance.html

If the company doesn't have a D&O for directors, ask them to get one as soon as possible. If they refuse to get it, I think you should seriously consider resigning from the directorship.

This post has been edited by hafiziza: Aug 26 2023, 12:48 PM