By RUPINDER SINGH

TMC Life Sciences Bhd has dismissed Wan Nadiah Wan Mohd Abdullah Yaakob from her role as Group CEO, following her removal from the board on December 9, 2024.

In a filing with Bursa Malaysia Securities, the company stated that the decision was made after reviewing her years of service, performance records, and mitigation letter, as well as the findings of the independent domestic inquiry panel.

The panel had reviewed five allegations of misconduct against Wan Nadiah in her roles as Group CEO of TMC Life Sciences and CEO of Thomson Hospitals Sdn Bhd.

Following her dismissal, Wan Nadiah has strongly denied all allegations and stated her intention to seek legal recourse for a fair resolution.

In a media statement issued today, she confirmed receiving a letter from the board on December 10, 2024, dismissing her from both roles.

She also announced plans to appeal the decision, with further statements to follow.

“I firmly deny all the allegations of misconduct the company has made against me and will be exploring all available options for a fair resolution, including seeking legal recourse,” she stated.

Wan Nadiah detailed the events leading up to her dismissal, including receiving two show cause letters in early 2024, which contained a total of 15 allegations.

After denying all charges, she engaged in mediation with the company, but the process was unsuccessful.

In August 2024, a notice of domestic inquiry was issued, which resulted in five remaining allegations, including issues with agreements involving Great Eastern Life, Allianz Life Insurance, and T-Systems Malaysia.

Despite being suspended as CEO since January 2024, Wan Nadiah continued to serve as a director of the company, attending board meetings and fulfilling her duties.

During the EGM on December 9, 2024, shareholders voted to remove her as an executive director, with 58.7% voting in favour of the resolution.

The requisition for the EGM was issued by TMC’s two largest shareholders, Sasteria (M) Pte Ltd (70.13% stake) and Johor Regent Tunku Ismail Sultan Ibrahim (7.64% stake).

“I am disappointed with the turn of events which have led to my departure from the company which I have loyally served since 2017,” she said.

“My performance as CEO speaks for itself… Revenue in FY2017, when I joined the company, had more than doubled from RM151.7 million to RM311.4 million in FY2023.”

She also stressed that she has not been accused of any criminal activity or integrity-related issues, affirming, “I have not been accused of any crime, criminal breach of trust, financial mismanagement or integrity-related issues.”

Nadiah expressed gratitude for the support she has received and emphasiSed her desire to look forward to new opportunities.

Nadiah says that since she will be pursuing the matter according to due process, she will refrain from making any further statements regarding the events.