KUALA LUMPUR: GIIB Holdings Bhd has suspended government director Wong Weng Yew to facilitate the investigation into his administration and dealing with of the glove enterprise and the group’s accounts.
“The Board has resolved to interact an impartial audit agency and another consultants (if required) to undertake the above-mentioned investigations,” the rubber and rubber-related compounds producer stated in a Bursa submitting.
“Topic to additional improvement of the suspension of Wong, the corporate isn’t anticipated to have a fabric monetary or operational influence on the corporate other than the skilled charges to be incurred for the investigation,” GIIB stated.
Wong has been suspended from his employment with the corporate since March 28 and the suspension has been prolonged till April pending the analysis of the reply of present trigger from Wong.
Individually, GIIB’s subsidiary, GIIB Healthcare Merchandise Sdn Bhd has by means of its solicitors, Messrs. BB Teh filed an originating summons for Fortuna Injunction on the Excessive Courtroom of Malaya at Kuala Lumpur in opposition to Glomaxes Latex Glove Producer Sdn Bhd’s Statutory Winding up Discover issued thereunder Part 466(1)(a) of the Corporations Act 2016.
Glomaxes is the primary contractor for GIIB Healthcare’s glove manufacturing strains.
Yee Voon Hon is a director of Glomaxes and GIIB Healthcare and he additionally holds 49% direct fairness curiosity in GIIB Healthcare.
“Other than the potential prices which can be awarded in opposition to GIIB Healthcare and the corresponding authorized prices, the Originating Summons for Fortuna Injunction isn’t anticipated to have another materials monetary influence on the group,” GIIB stated.