Sime Darby mismanagement, chief exec asked to leave immediately

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The shares of top conglomerate Sime Darby Bhd took a tumble after news that Sime Darby president and group chief Datuk Seri Ahmad Zubir Murshid was asked to take a leave of absence.

Ahmad Zubir was told to leave following concerns about costs overruns from the Bakun dam project. Sime Darby expects to make a loss of RM964 million in this quarter due to cost overruns from the Bakun dam and three other energy projects.

This is yet another case of mismanagement of funds in the government link company (GLC). Who were the responsible top executives for all those losses incurred? Why isn't there a proper auditing of its finances and accounts all these years?

Since Sime Darby is a GLC, the representation in its board of directors are certainly from Khazanah Nasional Berhad, The Minister of Finance Incorporated as well as the Prime Minister's Department Economic Planning Unit (EPU).

And if Sime Darby were to make a loss of RM964 million in this quarter, that means all these government representatives are not carrying out their responsibilities to prevent this kind of mismanagement or a possibility of corruption in the said company.

Therefore, the prime minister who is also finance minister himself should also take up the responsibility for the failure of the GLC and its losses, because the public funds invested in this company had been lost or somehow when straight into the pockets of those who are involved.

If the prime minister is serious of tackling this issue, he should instruct his ministry officials to immediately lodge a report to both the Malaysian Anti Corruption Commission (MACC) and the Police Commercial Crimes Investigation Department (CCID).

We cannot just let the taxpayers' monies continue vandalized by some corporate crooks like this.

By the way, what about the other GLCs? Mismanagement is also certain.

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