GIIB exec director: I was suspended after I raised questions on deals

PETALING JAYA: GIIB Holdings Bhd executive director Wong Weng Yew yesterday revealed that he was suspended after raising questions about the nature of several transactions, which he found to be suspicious in nature.

“Ever since I have brought the transactional issues to light, the management has treated me with hostility and contempt,” he said in a statement yesterday.

“In a further affront to good governance, the executive chairman Tai Boon Wee, directly requested for me to approve certain payments although I am still suspended from duty. These irregular actions by the executive chairman should be a matter investigated by an internal audit committee and the relevant regulatory bodies,” Wong said.

He said he had on April 7, responded to the show cause letter with full explanation and supporting evidence denying all allegations.

“My fiduciary duty as executive director and authorised signatory remains to the shareholders. This current set of actions can only be to silence my questions with regard to the suspicious transactions and to defame me in the eyes of the public, and as such, I reserve all my rights.”

On Monday, GIIB announced that it has established an investigative committee to assist the board in overseeing the investigation process against the allegations against Wong.

GIIB had on April 12 told the stock exchange that the suspension of Wong’s executive roles in the company and its subsidiaries was to facilitate the investigation into his management and handling of the glove business and the group’s accounts.