Suspended executive director for GIIB Holdings Berhad (GIIB), Wong Weng Yew, has lodged a police report in respect of the contentious matters involving the company.
In his media statement which was released a day before GIIB’s announcement of the second extension of his suspension, Wong said, “This statement is to confirm that on 25 April 2022, I lodged a police report at Ibu Pejabat Polis Daerah Nilai in respect of the contentious matters involving GIIB Holdings Berhad (GIIB).”
Subscribe to our Telegram channel to get a daily dose of business and lifestyle news from NHA – News Hub Asia!
“On the matter of the Investigative Committee that was recently set up by GIIB, I am yet to receive any update. Further, I understand that the committee consists of, amongst others, a family member of GIIB’s executive chairman, Mr Tai Boon Wee. Notwithstanding the committee members, it is hoped that the committee is able to remain impartial. The fact that the committee consists of a family member of the executive chairman appears to be poor governance.”
On Monday (18 April), GIIB announced that it had just set up an investigative committee to oversee the investigation into the allegations against Wong. The investigative committee thus needed more time to seek proposals from the independent audit firm to investigate the matter, adding that further announcements would be made upon the engagement of an independent audit firm.
The committee comprises its independent non-executive directors Yong Wei Sang and Tee Jun Shern, as well as Tai Qiyao, the alternate director to Tai Boon Wee who is the company’s executive chairman cum chief executive officer.
According to GIIB’s bourse filing on 27 April, Wong’s suspension since 28 March was further extended for 14 days.
Related article: Suspended Executive Director fires back as tensions rise at GIIB
