PETALING JAYA: Kumpulan Jetson Bhd
has uncovered governance and internal control lapses following an independent forensic review into disputed payment transactions and the implementation of its employees' share option scheme (ESOS).
In a filing with Bursa Malaysia, the group said BDO Governance Advisory Sdn Bhd found the disputed payments were made without adequate supporting documents, clear commercial rationale or proper approvals.
"The disputed payment transactions were effected without adequate supporting documentation, clear commercial rationale and proper approval where these payments were initiated and released primarily without sufficient independent verification, documented approvals or adherence to established internal procedures,” it said.
The review also found the ESOS acceptance and subscription process was not carried out in accordance with the scheme's by-laws and proceeded without the involvement or oversight of the ESOS committee.
Jetson said the board is assessing the operational and financial implications of the findings, but there appears to be no immediate material impact on the company's financial statements.
“The company is currently seeking legal advice on the matter and is exploring its options to address the findings from the forensic report, including reporting to the relevant authorities and initiate civil actions against the relevant parties involved, where advised, to protect the company's interest,” it said.
The board said it remains committed to strengthening its governance and internal control framework.
