PETALING JAYA: HHRG Bhd
has dismissed its chief executive officer, Fong Chee Khuen, with immediate effect.
In a filing with Bursa Malaysia, the biomass material manufacturer said the dismissal was due to serious misconduct and abuse of authority.
HHRG had announced to the stock exchange on April 7 that it had suspended Fong as a precautionary measure to facilitate an independent review into allegations of misconduct.
The suspension comes over a dispute between HHRG’s largest shareholder, Cfamillie Holdings Sdn Bhd and the company’s board, where Cfamillie has no current representation.
The dispute is primarily over MG Furniture Sdn Bhd, which HHRG owns 51% of through a share sale agreement with Cfamillie in 2022.
HHRG is in the midst of a court-approved investigation into MG Furniture.
The company’s shares closed 3.85% to 12.5 sen on Thursday.
