Tanjung Offshore non-independent director Tan Kean Soon has lodged a report with the Securities Commission (SC) Malaysia on irregularities conducted by certain officials in the company.
He said the Malaysian Anti-Corruption Commission (MACC) had also been informed of the alleged improprieties.
Local media reported that Tan had requested the SC to conduct an in-depth investigation into the alleged commercial fraud. He has listed in the report several cases of alleged abuse of funds, among them a failed chromite sand venture in the Philippines, an aborted offshore services vessels venture, and property purchase in the United Kingdom.
He has also disclosed activities of certain individuals that he deemed to have cost Tanjung Offshore hefty management fees.
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Additionally, Tan has raised concerns over the validity and impartiality of an independent committee that had recommended the suspension of himself and two other company officials, Muhammad Sabri Abdul Ghani and Harzani Azmi, from the company.
Tanjung Offshore could not be reached for comment.
This post was sourced from IHS Maritime 360: View the original article here.