Multi-Us­age sus­pends di­rec­tor in­def­i­nitely

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Multi-Us­age Hold­ings Bhd yes­ter­day said it has de­cided to in­def­i­nitely sus­pend di­rec­tor Tan Chew Hua af­ter he re­fused to co­op­er­ate in an in­ter­nal in­ves­ti­ga­tion con­ducted by the com­pany’s so­lic­i­tor.

The pur­pose of the in­ter­nal in­ves­ti­ga­tion was to seek clar­i­fi­ca­tion from Tan on mat­ters high­lighted in the Spe­cial Au­dit Re­port dated Feb 25, 2016 and au­di­tors’ qual­i­fied opinion in the au­dited fi­nan­cial state­ment for the fi­nan­cial year ended June 30, 2016.

The com­pany how­ever told Bursa Malaysia its so­lic­i­tor was un­able to con­clude the in­ter­nal in­ves­ti­ga­tion on Tan as he re­fused to co­op­er­ate and at­tend any in­ter­view.

The board of di­rec­tors was ad­vised by the so­lic­i­tor that it is at lib­erty to con­tinue the sus­pen­sion un­til the sus­pen­sion is set aside by a court or­der, or is pro­hib­ited by a court or­der.

Multi-Us­age is en­gaged in a to­tal of 16 ma­te­rial lit­i­ga­tion as at Aug 22, 2017.

The group said in its fil­ing with Bursa Malaysia, it will con­tinue to fo­cus on and de­velop its ma­jor busi­ness seg­ment which is prop­erty de­vel­op­ment in Machang Bubok, Bukit Mer­ta­jam and ac­tively pur­su­ing op­por­tu­ni­ties to in­crease its land­bank.

For the man­u­fac­tur­ing seg­ment, the group will con­tinue to pur­sue en­hance­ment in pro­duc­tiv­ity of high mar­gin prod­ucts as well as im­ple­ment­ing cost ef­fi­cien­cies.

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