Sime Darby of the world's-largest-plantation-merger fame, which expects profits for the year to tumble 46 per cent, will make the wrong kind of headlines tomorrow when its Human Resources boss Ishak Abdul Hamid appears at the KL Sessions Court tomorrow (Monday, Dec 1) over the controversial sacking of Group Financial Officer Razidan Ghazalli and Golden Jomalina's General Manager Muhammad Mohan Kittu Abdullah.
Also charged for a similar offence is KPMG Corporate Services Sdn Bhd executive director Tan Kim Chuan. KPMG carried out a forensic audit on the purported RM120 million trading losses incurred by Golden Hope Plantations Berhad.
Both Razidan and Muhammad Mohan were sacked for alleged “failure to discharge their functions to the standard of care that were reasonably expected of them”, resulting in the RM120 million. Three others - former Golden Hope's Group Chief Executive of Golden Hope Dato' Sabri Ahmad, former Director of Oils and Fats Dr Anhar Suki and General Manager of Commodities Trading and Marketing Azmir Yahya were forced to resign immediately.
Ishak could go to jail for 3 years if found guilty but the charge has brought about fresh questions on the sacking of the two senior execs and the circumstances under which the others had to quit.
Click here for more.
Sunday, November 30, 2008
Sime man faces Sessions Court charge
At 5:29 pm