KUALA LUMPUR, Sept 8 — MSM Malaysia Holdings Bhd (MSM) said its group chief executive officer (GCEO) Datuk Khairil Anuar Aziz has been placed on leave of absence until further notice from the board and is required to explain certain irregularities relating to inventories of MSM Sugar Refinery (Johor) Sdn Bhd.
“He has been given seven days from today to respond to the matter,” said MSM in a filing with Bursa Malaysia today.
The sugar manufacturer said it will continue its business as usual, and in the interim, the board has appointed Fakhrunniam Othman as the officer-in-charge to perform the functions of the MSM GCEO.
Fakhrunniam is currently FGV Holdings Bhd’s group investment officer.
“The board has also established a board executive committee, comprising three MSM directors, Datuk Syed Hisham Syed Wazir, Datuk Dr Abd Hapiz Abdullah and Datuk Haris Fadzilah Hassan, to guide and assist the officer-in-charge during this interim period,” said MSM.
It added that further announcements shall be made in the event of material developments on the matter.
In a separate statement, MSM said it is unable to disclose any further information on the announcement and said that the irregularities relating to the inventories of MSM Sugar Refinery (Johor) Sdn Bhd will not impact the current financial year.
The financial impact has been accounted for in the last financial year (FY2019).
“We strongly believe this will not jeopardise MSM’s reputation as measures have been taken to ensure the continuity of leadership to ensure the smooth running of the group’s day-to-day management,” MSM said.
The internal due process will take its course with proper governance and full transparency and the company will update any key developments from time to time. — Bernama
