KUALA LUMPUR: Sapura Resources Bhd has announced the redesignation of its non-independent non-executive director Reza Abdul Rahim as executive director and also appointed him as acting managing director (MD), effective today.
This is following the issuance of show cause letters to its managing director Datuk Shahriman Shamsuddin, who has been on a leave of absence.
In its filing with Bursa Malaysia Securities today, Sapura Resources said the show cause letters were issued following investigative proceedings conducted by the company in respect of matters relating to Shahriman's contract of employment.
"The investigative proceeding is still underway, and no determination has been made. Shahriman remains on leave of absence," it said.
In addition, it said Reza will temporarily assume the responsibilities and authority of the MD.
In line with this appointment, Mai Eliza Mior Mohamad Zubir will step down as officer-in-charge, effective from October 10, 2024.
"Further announcements will be made should there be any material developments in the matter," it added.
On Oct 7, Sapura Resources announced that Shahriman has been on leave of absence since Sept 11, 2024 pending investigations.
The news came after Business Times reported that minority shareholders of Sapura Resources were seeing red due to a conflict of interest involving Shahriman and the group's plan to divest its aviation business.
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