GIIB Holdings Bhd’s executive chairman, Tai Boon Wee, has been remanded by the Malaysian Anti-Corruption Commission (MACC) for further investigation.
This comes just a few months after Tai and another ED, Wong Ping Kiong, were charged under Section 18 of the MACC Act for allegedly providing fake documents to auditor Grant Thornton Malaysia PLT.
The trial for those charges is scheduled for January 2024.
The recent remand of Tai and two other EDs, namely Wong and Tai Qiyao, on May 31, 2023, follows their issuance of notices to assist in an ongoing investigation.
The MACC is probing several allegations against the executives, including the issuance of an invoice with proceeds deposited into GIIB’s account, the inflation of debts of a subsidiary company in a Bursa Malaysia Announcement, and unauthorised payments to unidentified individuals.
GIIB Holdings vehemently denies these allegations, asserting that the directors have never engaged in any unlawful activities.
The company stands firmly by its EDs, stating that the allegations are malicious, defamatory, baseless and frivolous.
The directors have made it clear to the investigation officer that they deny any involvement in the alleged wrongdoings.
Although the directors are seeking legal advice, no charges have been filed against them yet.
The company will make the necessary announcements to Bursa Malaysia Securities Bhd regarding any developments in the matter. — TMR