MSM Malaysia : Update On The Appointment Of Officer-In-Charge And Establishment Of A Board Eecutive Committee Following Leave Of Absence Of Group Chief Executive Officer

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Update On The Appointment Of Officer-In-Charge And Establishment Of A Board Eecutive Committee Following Leave Of Absence Of Group Chief Executive Officer

Type	Announcement
Subject	OTHERS
Description	Update on the Appointment of Officer-in-Charge and Establishment of a Board Executive Committee following leave of absence of Group Chief Executive Officer

We refer to our announcements dated 8 and 10 September 2020 on the above matter.

The Board of Directors ('the Board') of MSM Malaysia Holdings Berhad ('MSM') wishes to inform that the Board has undertaken due process to allow the Group Chief Executive Officer ('GCEO') to clarify on the irregularities pertaining to the adjustment to write-off inventories amounting to RM36.6 million in MSM Sugar Refinery (Johor) Sdn Bhd in the 2019 Financial Statements. The Board has assessed the clarification provided by the GCEO and finds them unacceptable. The Board has decided that the GCEO ceased office with effect from 5 October 2020.

The Board also wishes to update that Encik Fakhrunniam Othman will continue as the Officer-in-Charge until the Board identifies a suitable candidate for the position of GCEO of MSM.

This announcement is dated 5 October 2020.

Announcement Info

Company Name	MSM MALAYSIA HOLDINGS BERHAD
Stock Name	MSM
Date Announced	05 Oct 2020
Category	General Announcement for PLC
Reference Number	GA1-01102020-00012