Abstract

The most visible and neglected heritages nowadays are heritage buildings which are widely available throughout the country. As the number of heritage building have been decreasing day by day, peoples’ consciousness has begun to arise. Many heritage buildings have been conserved for various purposes. In general, with their attractive features, most conserved heritage buildings will be adaptive reused as museums, offices, restaurants, residences, business premises and other public use thus becoming one the focal of tourists’ attractions. However, the approach in adapting and conserving heritage buildings in Malaysia are not practiced with the right concepts and methods. This research is conducted to assess the adaptive reuse works that have been implemented on the heritage buildings as hotels specifically in Melaka and George Town UNESCO World Heritage Cities. The hotels which are adapted from heritage buildings have been specifically identified and questionnaires surveys have been performed to the respective owners or managers in order to obtain their responses thus arriving to a more accurate research result. Several findings have been obtained which will help in promoting adaptive reuse works in the future.

Highlights

  • The vast number of corporate scandals, such as Enron, Tyco and HealthSouth, have caused large scale of workers retrenchment, huge investment losses to the shareholders and have encouraged massive white collar crimes that led to enormous record-breaking bankruptcy filings (Solomon, 2010)

  • The results show that 72% of the samples apply non duality role for their Chairman, which indicate only 28% of the companies are served by the same person as for the Chairman and Chief Executive Officer (CEO)

  • This is in line with requirement of MCCG that requires the positions of Chairman and CEO should be held by different individuals, and the Chairman must be a non-executive member of the board

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Summary

Introduction

The vast number of corporate scandals, such as Enron, Tyco and HealthSouth, have caused large scale of workers retrenchment, huge investment losses to the shareholders and have encouraged massive white collar crimes that led to enormous record-breaking bankruptcy filings (Solomon, 2010). In such chaos business situations, engaging corporate governance mechanisms is of importance as a well-governed corporate governance is said to be associated with better firm performance Core et al (1999).

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