KUALA LUMPUR – Real estate developer Encorp Bhd has suspended its group chief executive officer (GCEO) Hazurin Harun effective yesterday, amid probes by the Malaysian Anti-Corruption Commission (MACC) into the public-listed company.
In a Bursa Malaysia filing yesterday, Encorp’s board of directors announced that Hazurin’s suspension is to facilitate an “internal investigation process” relating to “allegations” made involving the graft busting agency.
While Hazurin’s “powers, authorities, and functions” as GCEO were suspended with immediate effect, the board said the company, in which Felda Investment Corp Sdn Bhd has a 67.13% stake, will continue its business as usual.
During Hazurin’s suspension period, the group’s chief financial officer Kamarul Azman Kamarozaman@Amir will be appointed as the officer in charge, thus temporarily assuming the duties and functions of GCEO.
“Encorp is committed to good governance and transparency throughout (the MACC’s investigation) process,” it said in a separate bourse filing.
“The company is closely monitoring the situation to ensure full compliance and uphold our strong commitment to integrity.”
It added that Encorp will continue to provide its full support and cooperation to the anti-graft agency.
On August 10, MACC confirmed the arrest of three individuals, including a GCEO, for suspected misappropriation of RM1.5 million in funds belonging to a public-listed company.
An MACC source said all three individuals were detained on August 8 when they appeared at the MACC office in Putrajaya to testify regarding irregularities involving construction and mining projects worth about RM80 million.
The source added that preliminary investigations found that all the suspects were also believed to be involved in establishing a company that was not approved by the board of directors to carry out a collaborative project worth about RM258 million.
The trio is also suspected of involvement in embezzling the company’s property rental collection funds worth approximately RM3 million, the source said.
MACC senior director of investigations Datuk Seri Hishamuddin Hashim, when contacted, confirmed the arrests and said the case was being investigated under Section 16(a)(A) of the MACC Act 2009 for corruptly soliciting gratification.
The remand order of four days served on two suspects – a man and a woman aged between 40 and 50 – is understood to have ended yesterday. – August 13, 2024