Malaysia's largest sugar refiner asks group CEO to explain "irregularities" at subsidiary

KUALA LUMPUR: MSM Malaysia Holdings Bhd (MSM) group chief executive officer (GCEO) Datuk Khairil Anuar Aziz has been required to explain certain irregularities related to inventories of its subsidiary MSM Sugar Refinery (Johor) Sdn Bhd.

In an exchange filing today, MSM said the explanation was directed by the company's board of directors today.

MSM, the country's largest sugar refiner, said Khairil had been given seven days from today to respond to the matter.

He has since been placed on leave of absence until further notice from the board.

"We will continue our business as usual. In the interim, the board has appointed Fakhrunniam Othman as the Officer-in-Charge to perform the functions of the MSM GCEO," MSM said.

Fakhrunniam is currently FGV Holdings Bhd group investment officer.

MSM said the board had also established a board executive committee, comprising three MSM directors namely Datuk Syed Hisham Syed Wazir, Datuk Dr Abd Hapiz Abdullah and Datuk Haris Fadzilah Hassan, to guide and assist the Officer-in-Charge during the interim.

The company said further announcements would be made in the event of material developments on the matter.

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