GIIB Holdings executive chairman remanded by MACC, again

KUALA LUMPUR : GIIB Holdings Berhad today announced that executive chairman Tai Boon Wee was remanded a day after two other directors, Tai Qiyao and Wong Ping Kiong were remanded by the MACC on the 30th May, 2023 to assist in an ongoing investigation under the Section 409 Penal Code.

This is the second time Tai  and Wong has had a run in with MACC. 

Earlier this year MACC charged both Tai and Wong under Section 18 of the MACC Act for allegedly furnishing fake documents to auditor Grant Thornton Malaysia PLT.  

Sessions Court has set the trial dates for the case from 15 January 2024 to 17 January 2024.

In a filing with the stock exchange, GIIB said the  allegations being investigated were in relation to issuance of an invoice and proceeds banked into GIIB's account; inflation of debts of a subsidiary company in a Bursa Malaysia announcement and unauthorized payments to persons unknown. 

"The directors have made it very clear to the investigation officer that they were never involved in any unlawful activities, and the above allegations are malicious, defamatory, baseless and frivolous. The directors categorically and vehemently deny them," GIIB said in its filing.

The company added that it stands by its executive directors to defend themselves against these allegations in the court of law. 

The company will make the necessary announcement on the aforesaid matter to Bursa Malaysia Securities Berhad as and when there is further development.

GIIB's share price closed unchanged at RM0.095 at the end of the morning trade session at 12.30pm.

Related Articles