[what say you ag chamber office on this?] ... WHY BAKKE RESIGNED AS CHAIRMAN
I received these in the email.
This is getting to be really embarrasing. Especially for Arul Kanda and that 'pandi fellow.
This is incredible. The minutes of meetings of a private company are now being posted on the Internet by The Thingy. These are NOT State secrets. These are the Minutes of the Board of Directors Meeting.
These particular set of minutes shows some serious wrong doing, actually criminal wrong doing by the officers of the company.
Arising from these meetings of the Board, the first Chairman resigned. That is this guy here :
Bakke resigned as Chairman of 1 M'sia Doomed to Bust in late 2009 ? Then a few months later in July 2010 Bakke was appointed CEO and President of Sime Darby. That does raise questions as well. Golden handshake? Appreciation ? Cooperation ?
Here is some more stuff :
The Board says they were NOT consulted in diverting the US$700 Million to some other party and using a different bank. Too late. The money was gone. Kaput. Read for yourself.
To the kampong mari Attorney General, this tallies exactly with Bank Negara's investigations. The US700 Million was not utilised as how they presented it to Bank Negara and subsequently also approved by Bank Negara. They took the money elsewhere. This was a breach of Bank Negara's specific approval.
The BOD even asked that the US$700 million be returned to the company. Here are the minutes :
The following is even more revealing. Folks this is how the GLCs are run as well. Read their uncertainties and 'dont know what is going on' way of managing the GLC corporates :
Shouldnt all these have been checked by the BOD BEFORE any moneys were paid out? There is NO WAY US700 Million was paid out WITHOUT the signatures of at least ONE Board Member.
Shouldnt the valuation reports have been double checked and confirmed BEFORE any money was paid? All these are basic business practises. Itu pun tak tahu nak buat?
Then the Board of Directors has mentioned the CEO by name in the Board Minutes and told him that the CEO must not deviate from what the Board has decided.
But it did not help at all. The money still flew out the window.
Also the Chairman had resigned and he was replaced by another new Chairman - another simpleton all ready to pleeeeease.
These are the GLC corporates.