The 2 Tuns, 5 Tan Sris and 4 Datos on Sime Darby BOD deserve sacking!
Resign or be sacked!
ANOTHER BRICK IN THE WALL
Bigdog’s latest posting reminded me of a line in a British standup comedy that made a parody of Charles Dicken’s Tale of Two Cities as The tale of two titties.
The parodied title turn out to be a title of a porn movie.
Certainly, one can described the negligent and incompetent manner the so-called “illustrious” Board of Directors of Sime Darby carried out their fudiciary duties as obscene, repulsive and pornographic.
This is a result of the practise and culture of appointing members on the Board of PLCs and GLCs as reward for retired politicians and top civil servants. It is like giving flowers to monkeys.
In Big Dog’s latest posting, he is practically launching an already on-going and as good launched campaign to remove the members of the Board of Directors of Sime Darby he dubbed as “The Tale of the Two Tuns, Five Tan Sris and Four Datos“.
Why must the illustrous BOD of Sime Darby be removed? Read extract from Bigdog’s below:
The stewards who have fiduciary duties over the conglomerate must be accountable. The board of directors (BOD) comprises of ‘illustrious members of the society and corporate community’, with some representing the shareholders.
Having said that, despite of their professional training and aggregate vast amount of exposure and experiences amassed in various capacities through time, they deemed to fail their duties. The convenient blame is when Chairman Tun Musa Hitam told the press, “Management misled us and hid the truth”.
This is unacceptable.
They are members of the BOD. They have the right to ask questions and demand for answers.
If the answers are not convincing enough, then they should talk to the various level of executives. They have an audit committe at the BOD level. They also have the right to interact with the external auditors.
All of these deliverables expected of the BOD are not without basis. The issues that lurk Sime Darby on the Bakun and oil and gas have been openly discussed in market, even in publications, including here in BigDogDotCom.
Unfortunately, all of these fell out of the radar scope of the ‘illustrious members of the BOD’.
Are the members of the BOD felt that they are to high up and well placed in the society that they are indispensable?
We are not sure.
However, the BOD comprises of personalities such as former Deputy Prime Minister Tun Musa Hitam, former Chief Secretary to the Government and now PNB Chairman Tun Ahmad Sarji Abdul Hamid, former Bank Negara Assistant Governor Tan Sri Andrew Sheng, former Chief Secretary to the Government Tan Sri Shamsuddin Osman, former Director General of Education Tan Sri Wan Zahid Nordin, former PwC Executive Chairman and MICPA President Raja Tan Sri Arshad Raja Tun Uda and former SIRIM Director General and nuclear engineer Tan Sri Dr. Ir. Ahmad Tajudin Ali.
This is accompanied by four other Datos namely former BIMB Supremo Dato’ Dr. Abdul Halim Ismail, prominent lawyer and former SUHAKAM Commissioner Dato’ Paduka Zaitoon Osman, Sime Darby veteran Dato’ Mohamed Sulaiman and a chartered accountant from Britain Dato’ Henry Sackville Barlow.
It is unbelievable these men and lady did not ask Zubir the right questions. Especially when losses that large must be accumulated through time.
There are chartered accountants (Raja Arshad, Mohamed, Barlow), a seasoned banker (Dr Halim) and engineer in the BOD. Four of them were from the pre-Synergy Drive Sime Darby BOD.
The very least, the progress and extension of the projects involved. What is most baffling weren’t they curious the development on these projects, Bakun, MOQ, QP and the marine project in QCC states?
