Sime Darby Urged to Make Report Public

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  • Topic: Musa Hitam, Mahathir bin Mohamad, Sime Darby
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  • Published : April 16, 2012
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Sime Darby urged to make report public

By NG CHENG YEE and SHAUN HO
Thursday November 18, 2010

PETALING JAYA: Lawmakers from both sides of the political divide have called for the Sime Darby forensic audit report to be made public.

"The report should be privy to everyone as it is a big case," Umno Youth chief Khairy Jamaluddin said yesterday.

The Rembau MP said the report should be released despite Sime Darby lawyers' advice against any such move until the filing of a case connected to it.

"It will not make a difference to the case as YPB (Yayasan Pelaburan Bumiputra), its ultimate owner, would have received the report."

PAS vice-president Datuk Husam Musa also said the report should be made public as it was Sime Darby's responsibility and obligation to its shareholders.

"There is no reason for the investing public to not learn about the problems," he said.

He said the whole idea of the Economic Transformation Plan was for all companies to be more transparent, adding: "Releasing the report will result in better governance for the company. The practice of transparency will also rejuvenate the company. This will prevent any future mismanagement."

DAP publicity officer Tony Pua said the report should at least be released in Parliament.

"A white paper must also be presented about what actually happened."

On Tuesday, Sime Darby said it would initiate legal proceedings by year-end to recover the RM2.1bil losses it suffered due to mismanagement and wrongdoings at its energy and utilities (E&U) division.

The Prime Minister, Datuk Seri Najib Razak has dodged questions about the Sime Darby costs overruns scandal since the GLC-conglomerate’s May 13 admission of RM964 million losses for the second half of FY2010, comprising: 1.Qatar Petroleum (QP)RM200 million

2.Maersk Oil Qatar (MOQ)RM159 million
3.MOQ marine projectRM155 million
4.Bakun DamRM450 million
TotalRM964 million
These are however only a part of the losses suffered...
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