MACC steps in Probe under way into Sime Darby’s huge losses
PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has taken a proactive step by initiating investigations into the massive losses suffered by Sime Darby.
Investigations will start with a probe focusing on the internal inquiry being carried out by the conglomerate. The company’s internal investigation, believed to have started some eight months ago, is to determine the real extent of the losses in its energy and utilities division and whether they were anything beyond just making bad investment calls.
There may also be probes into other divisions and projects. MACC investigations director Mustafar Ali confirmed that the commission had started investigations.
“We will be identifying areas that have elements of corruption,
misappropriation and abuse of power.
“Like all cases, we’ll deal with this one with urgency, not only because this probably involves billions of ringgit but also the interests of the people,” he told the New Straits Times yesterday.
MACC had last week offered Sime Darby its expertise in detecting elements of graft but the country’s oldest and largest conglomerate had to date not approached the antigraft body for help in facilitating its investigation.
Until last week, MACC said it would let Sime Darby complete its investigation and would only open an investigation file into the financial affairs of the governmentlinked company if any element of corruption was suspected in its massive losses.
Sime Darby recently confirmed the market’s worst fears when it announced that it would have to post massive losses suffered in projects in the Middle East as well as the Bakun hydroelectric dam project in Sarawak.
It is expected to post close to RM1 billion losses in its third quarter results, which are expected to be released tomorrow. Sime Darby is also expected to disclose tomorrow the findings of the task force set up to investigate its energy and utilities operations.
The cost overrunswere discovered by a board work-group formed in October last year to “assess the corporate governance and performance” of Sime Darby’s energy and utilities division. The work-group members are Datuk Seri Andrew Sheng, a member of the National Economic Advisory Council, Tan Sri Wan Mohd Zahid Mohd Noordin and Datin Paduka Zaitoon Othman.
In announcing the losses, Sime Darby also ordered its group chief executive, Datuk Seri Ahmad Zubir Murshid, to take leave of absence. The company has appointed Datuk Azhar Abdul Hamid acting group CEO for the interim period, while the government has assured transparency in any investigation into the company.
This is not the first time the anti-graft body started an investigation into a GLC. In 1996, MACC, which was then known as Anti-Corruption Agency, launched investigations into Perwaja Steel after it was declared insolvent, with debts and losses totalling RM10 billion.
This led to the arrest of its managing director, the late Tan Sri Eric Chia, in February the same year, where he was charged with embezzlement. He was acquitted in 2007 after the Sessions Court ruled that the prosecution had failed to establish a prima facie case against him. ANY COMMENTS?
Non-muslim lawyer gets leave to challenge syariah lawyer require
KUALA LUMPUR: The High Court here allowed a non-Muslim woman lawyer to seek a judicial review to practise at the Kuala Lumpur Syariah Court.
Justice Datuk Mohd Zawawi Salleh granted Victoria Jayaseele Martin leave for an order to compel the Federal Territory Religious Council to receive her as a Syariah lawyer.
This is the first case in Kuala Lumpur of a non-Muslim being given leave to challenge the ruling that only Muslim lawyers are allowed to practise at the Syariah Court ANY COMMENTS?
KUALA LUMPUR: Universiti Kebangsaan Malaysia has reported the highest number of brain drain this year, with about 15 per cent of its top medical and health graduates leaving the country before completing their housemanship.
They left for Singapore after receiving job offers that paid S$6,000 (RM13,800) a month compared with RM3,000 locally, UKM vice-chancellor Prof Tan Sri Dr Sharifah Hapsah Syed Hasan Shahabudin said yesterday.
She is appealing to them on "moral and ethical grounds" not to leave the country as the university has spent millions of ringgit training them.
"These are our best medical students who are leaving the country for Singapore. Previously, Singapore took in students who had completed their housemanship but now it is taking them in upon their graduation," she said after the Asia-Pacific Conference of Speech, Language and Hearing Sciences here.
About 200 people graduate from the UKM Medical and Health Faculty every year.
Another group of graduates also leaving for work in Singapore are those who studied language and speech therapy.
Those unlikely to leave the country were graduates from the Dentistry Faculty as most found well- paying jobs, Sharifah Hapsah said.
She said other universities, such as Universiti Malaya, faced the same problem with their top students going to Singapore.
"Our neighbour is also facing a brain drain. That's why its offers are becoming more lucrative. The trend of students leaving the country is on the rise."
Sharifah Hapsah said UKM was planning to delay issuing testimonials to medical graduates to encourage them to do their housemanship and serve the country.
She said the brain drain was unhealthy for the country.
"We continue to train them. But they keep leaving the country. They may be paying to study in public universities but the fees are heavily subsidised. It is the taxpayers' money."
Sharifah Hapsah said she was not against students leaving the country to gain knowledge and training but they should return home to contribute in their fields. But medical students who left without doing their housemanship showed that they were not interested in coming back to work in the country, she added. ANY COMMENTS?
Tofu seller survives fall, but lands in trouble with the law
GEORGE TOWN: A tofu seller miraculously survived a fall from the eighth floor of a condominium in Batu Uban near here, but is now in trouble with the law.
The 50-year-old man went to the condominium to look for his sister in the 8am incident yesterday.
Security guards later heard a crash on the awning of the car park and alerted police.
Several personnel from the Perak Road Fire and Rescue Department were also called in to move the man to safety.
It is learnt that the man, who is from Taman Pekaka, is receiving treatment at the Penang Hospital for a fractured spine and other body injuries.
His condition is reported to be stable.
George Town OCPD Asst Comm Gan Kong Meng said the man is being investigated under Section 309 of the Penal Code for attempted suicide, an offence that carries a jail term of up to one year or a fine or both.ANY COMMENTS?
PETALING JAYA: A mother and her boyfriend were jointly charged yesterday with the murder of her 3-year-old daughter, Jasmine Lee Siew Hui.
Jasmine's mother, Wong Mei Teng, 23, and Tan Peng Tong, 27, only nodded when the court interpreter asked them if they understood the charge which was read out to them.
The two, who were clad in white T-shirt and khaki pants, were not represented. None of their family members or friends were present.
They were jointly charged with causing Jasmine's murder at a flat in Taman Bukit Serdang between March 1 and April 14. No plea was recorded.
Wong and Tan, both jobless, have been remanded since April 15. It was earlier reported that the two were high on syabu when arrested.
Reports also stated that Jasmine suffered at least 60 bruises, both old and new, believed to have been caused with a cane.
The post-mortem revealed that the girl died of pneumonia.
On April 14, Tan, who reportedly claimed that he found Jasmine inside a cupboard at their apartment in Taman Seri Serdang, took her to a clinic. However, she was pronounced dead on arrival by the doctor, who then lodged a police report because of bruises on her body.
Magistrate Ho Kwong Chin fixed June 3 for mention after DPP Zhafran Rahim Hamzah asked the court for an earlier date to get the case transferred to the Shah Alam High Court. ANY COMMENTS?
