First question: is this a private limited (Sdn Bhd), public company (Bhd) or public listed company?

Then, I suggest you to attend a course about the roles and responsibilities of a director. For Sdn Bhd, there is no such roles of Non Executive Directors.

A lawyer can tell you what are your risks as a director. For example, if the EPF/Socso/EIS/PCB are not paid in time. Or, the company did not pay the outstanding company tax or service tax. But, most of the time, the lawyer may not be able to share with you the opportunities.

What you need is a mentor. Ask your mother, who were your dad's best friends (preferably not in the same company)? Get them to be your mentor and guide you.

On the other hand, you need to declare your directorship to your current employer. Most of MNC do have restrictions on employees holding positions in another company.

Though there is no specific law prohibits dual employment in Malaysia, there are other risks. For example, if the company you inherited is facing litigation and the plaintiff bring the company and the directors into the court, you may be named. For some companies, it is not acceptable that their employee has been involved in a litigation, particularly those in financial sectors.