KUALA LUMPUR (April 22): GIIB Holdings Bhd said on Friday (April 22) it has engaged independent consulting firm PKF Covenant Sdn Bhd to assist GIIB's investigative committee in the probe into GIIB's suspended executive director Wong Weng Yew's management and handling of the group's glove business and accounts.
In a Bursa Malaysia filing on Friday, GIIB said PKF's work scope includes independently examining the relevant evidence and information pertaining to the charges against Wong and providing comments and views on the evidence and information.
In addition, PKF's work scope includes preparing an investigation outcome report, which will be submitted to the GIIB investigative committee, and attending "meetings with the investigative committee or the board of the company (GIIB), as may be required, to present findings and commentary/views in the said report", GIIB said.
"Given that PKF was only engaged on April 22, 2022, the investigative committee is not able to determine the period of time to be undertaken for the investigation for the time being," GIIB said.
GIIB initially announced Wong's suspension to Bursa on April 11, 2022.
According to GIIB's filing then, Wong had been suspended from his employment with the company since March 28, 2022 and the suspension was extended until next Monday (April 25, 2022) pending the evaluation of his reply to the show-cause letter issued by GIIB to him.
On April 12, GIIB said Wong's suspension from his executive roles in GIIB and its subsidiaries was to facilitate the investigation into his management and handling of GIIB's glove business and accounts.
In a Bursa filing on Monday (April 18), GIIB said the company had established an investigative committee to oversee the investigation into the allegations against Wong.
GIIB said the investigative committee comprised its non-executive director and chairman Yong Wei Sang, non-executive director Tee Jun Shern and alternate director Tai Qiyao.
At Bursa's 12.30pm break on Friday, GIIB's share price was unchanged at eight sen with a market capitalisation of about RM35.12 million.
GIIB has 439.06 million outstanding shares, according to its latest quarterly financial report.