Sime Darby Energy & Utilies executive hauled?

Sime Darby Energy and Utilities senior executive is said to be ‘picked up’ by MACC, upon stepping into the country from a GCC state.

Unconfirmed report with regards to an MOQ General Manager who was ‘picked up’ at KLIA two weeks ago on 24 June upon arrival from Qatar. More are believed to also be ‘picked up’, in connection of the Kumang Cluster Project. Another report is at the moment centred on a Senior General Manager being hauled up too. MACC recently paid a visit to Sime Darby HQ after the Board of Directors admitted “irregularities” on three accumulated losses projects, namely Bakun, Qatar Project and Maersk Oil Qatar recorded a loss of RM 1.63 billion.

Main stream media business media such as The Edge and blogs like this one accurately reported these losses, alleging gross mishandling and probable corrupt practices of the projects. After 18 months of ‘writings on the wall’, in May Sime Darby BOD decided to ‘terminate’ Group CEO Dato Seri Ahmad Zubir Murshid on 13 May for “Misleading the board” and announced via the main stream media the much talked about losses. So much attention had been focused towards Sime Darby since and even it was raised in the current sitting of Dewan Rakyat.

Sime Darby is expected to make first round announcement on these projects by next month. So far except to the premature ‘termination of contract’ of Zubir and another executive, SDENU CEO Dato Syukri was “asked to leave”, no other departure was recorded. Not even any of the members of the pre-Synergy Drive BODs, who are still around and supposed to assumed responsibility as part of directors’ fiduciary duties.

*Updated Saturday 10 July 0800hrs

Published in: on July 9, 2010 at 19:36  Comments (2)  

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2 CommentsLeave a comment

  1. Good that MACC has started action. It should pursue the fiasco to its logical conclusion. The bad hats must be dealt with and sacked. It’s in the public interest. GLCs are custodians of public interests.

    The BOD should resign or be asked to leave. No question of loss of continuity. There must be acknowledgment of responsibility and accountability.

  2. […] seems this is the second senior executive Sime Darby Energy and Utilities that recently being ‘hauled‘ by authorities. So much attention was placed on Sime Darby after Board of Directors (BOD) […]

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