THHE reveals that former CEO is under MACC’s investigation

The MACC headquarters in Putrajaya.

The MACC headquarters in Putrajaya.

KUALA LUMPUR: TH Heavy Engineering (THHE) said it will extend its fullest cooperation to the Malaysian Anti-Corruption Commission (MACC) in the investigation relating to its former chief executive officer, Datuk Nor Badli Munawir Mohamad Alias Lafti.

The offshore oil and gas facility fabricator did not name the CEO in the press statement issued on Wednesday but noted that the former CEO left the company on June 30, 2015. Nor Badli, who joined THHE as managing director and CEO on June 1, 2010, was succeeded as CEO by Nusral Danir that month. (Nusral has since resigned as well, on Aug 31, 2016.)

“The company is committed to supporting any effort to enhance transparency, accountability, integrity and ethical business practice as key features of its good corporate governance,” said THHE, which is 29.8% owned by Lembaga Tabung Haji and 4.6% by Pelaburan Mara Bhd as at April 10, 2016.

“Considering that the matter is the subject of an on-going investigation, we will not be making any further comment for now. Nevertheless we will continue to provide our fullest cooperation to the authorities to enable them to carry out a detailed and thorough investigation,” it added.

THHE shares shed half a sen to close at 12 sen on Wednesday with 3.86 million shares changing hands.