Kishana, K. and Azhar, Zubir (2022) Sandcastle Resort’s Corporate Governance and Business Performance Issues During the COVID-19 Pandemic. In: 7th International Case Study Conference, 13 - 15 September 2022, Raia Hotel & Convention Centre, Terengganu, Malaysia.

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Abstract

Sandcastle Resort is one of Malaysia’s ideal lifestyle and staycation attraction centres. With four resorts spread around the country, Sandcastle Resort renders tourism and hospitality services that guarantee more than just a place to stay. Each resort provides a sociable environment and leisure experience that goes beyond the expectations of guests. However, the COVID-19 pandemic caused the Malaysian government to institute a nationwide lockdown beginning in March 2020 to control the spread of the virus. As a result, Sandcastle Resort’s business performance was severely impacted because it incurred operating costs but generated no revenue. Hence, the top management considered some questionable earnings management techniques to mask the poor financial performance. The pandemic also cast a light on the resort’s corporate governance weaknesses such as the independence of its internal auditor and its internal controls. Additionally, the pandemic underscored the need to utilize technology to improve operational efficiency and attract customers for the resort to survive and flourish.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	Corporate governance, Tourism and hospitality industry, COVID-19, internal controls
Subjects:	H Social Sciences > HF Commerce
Divisions:	Institute for Management and Business Research (IMBRe)
Depositing User:	Mrs Nurin Jazlina Hamid
Date Deposited:	02 Apr 2024 09:10
Last Modified:	02 Apr 2024 09:10
URI:	https://repo.uum.edu.my/id/eprint/30673

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