Two directors of GIIB charged by MACC

GIIB Holdings Bhd executive chairman and CEO Tai Boon Wee and GIIB Rubber Compound Sdn Bhd’s ED Alice Wong Ping Kiong were charged today under Section 18 of the MACC Act for allegedly furnishing fake documents to auditor Grant Thornton Malaysia PLT. 

The charge was in regard to a sale deemed “non-existent” for RM2.95 million to Top Rate Engineering Works.

“Both directors however have pleaded their innocence,” rubber compound manufacturer GIIB said in a statement today.

It said that the legal team representing the directors had studied the relevant documents, which includes an independent forensic audit conducted by Ferrier Hodgson MH Sdn Bhd that was presented to the GIIB’s board of directors on Oct 19, 2022. 

The legal team, it said, is satisfied that the directors have a good case and will vigorously defend the charges. 

“The accusations and allegations have been proven baseless and unfounded with External Audits and Forensic audits by respected independent firms. The information in these financial reports should assist in the investigation and provide clarity. We categorically deny such allegations and we will be exploring all legal avenues to defend both our names and the company’s,” Tai said following the charges. 

It noted that the judge has set the case’s next hearing to be on Feb 28, 2023. — TMR