Five charged: Who else, Sime Darby?
By The Malaysian Insider
Government conglomerate Sime Darby Bhd has made good on its intention to sue those responsible for the RM2.1 billion losses from its troubled energy and utilities division.
The plantations, property and power group revealed last night it has sued former chief executive officer Datuk Seri Ahmad Zubir Murshid and four others for RM177 million in three loss-making projects.
Now, it’s great that Sime Darby is taking action to recover the RM338 million but its losses ballooned to over RM1.5 billion. So who else is responsible for that black hole and blot on Malaysia’s corporate landscape?
Did the board of directors know about this? Why have board chairman Tun Musa Hitam and those who must have had approved all the deals and transactions, not been questioned over the matter?
Fact is, the Sime Darby board members knew that former prime minister Tun Abdullah Ahmad Badawi and other political leaders had written to the Qatar leadership over the problematic deals.
Fact is, that is still being done to this day.
And is it ethical for the same board to have oversight over forensic investigation by KPMG and then also instruct lawyers on the matter against the former officials?
Surely this is a conflict of interest.
There is a need for Sime Darby to be transparent. A lot of money has been lost and may possibly never be recovered.
