By Azanis Shahila Aman | New Straits Times
GIIB Holdings Bhd’s former directors Tai Boon Wee and Alison Wong Ping Kiong have been freed from all charges relating to furnishing fake documents to auditor Grant Thornton Malaysia PLT.
The company said the court accepted a motion to quash four charges under section 18 of the MACC 2009 Act and ordered for the discharge and acquittal.
“The charges were related to allegations made by a former director of finance who was dismissed for misconduct,” it said in a statement.
For proper corporate governance, GIIB said the company had engaged an independent forensic auditor to conduct an audit within the scope approved by Bursa Malaysia.
The forensic auditor’s report found no fraud and wrong-doing in its review of GIIB’s records.
Following that, GIIB said an independent external auditor cleared its financial accounts, further disproving the allegations made earlier.
“GIIB has filed a civil suit against the former director of finance, Wong Weng Yew, along with Yee Voon Hon, and six others for conspiracy to injure the company with false allegations, misappropriation of funds and acts of malice,” it added.
Both Tai and Alison have relinquished their directorship following GIIB’s next phase in succession planning.
Tai and Wong are founders of the rubber compound company and brought the company from its infancy in 1990 to its listing in 2003.