KUALA LUMPUR: TMC Life Sciences Bhd said its suspended chief executive officer Wan Nadiah Wan Mohd Abdullah Yaakob has been found guilty of misconduct following a domestic inquiry.
The finding comes ahead of a bid by major shareholder Sasteria Pte Ltd to remove Wan Nadiah as a director in the company via an extraordinary general meeting.
In a filing with Bursa Malaysia, the company said Wan Nadiah has been found guilty of all five charges of misconduct levelled against her, pursuant to the said domestic inquiry and upon deliberation by the independent domestic inquiry panel.
"The board will proceed with the next phase of the disciplinary process and determine the appropriate disciplinary action for Wan Nadiah," it noted.
The company said it will make further announcements on the matter at the appropriate time.
TMC Life Sciences had announced the suspension of Wan Nadiah as group chief executive officer and chief executive officer of its subsidiary Thomson Hospitals Sdn Bhd on Jan 29 pending a domestic inquiry.
TMC Life Sciences' closed at 51 sen a share yesterday, giving it a market capitalisation of RM888.4 million.