KUALA LUMPUR: Matang Bhd
has suspended its chief financial officer (CFO) and acting chief operating officer (COO), Tan Theng Hwee, from her duties with immediate effect to facilitate an internal investigation.
In an announcement to the stock exchange, the group said the suspension was an interim measure during an investigation into several governance, operational, and management conduct matters.
During the suspension period, the duties and responsibilities of the CFO and acting COO will be temporarily assumed by Hoi Siew Chien, a consultant and advisor, on an interim basis, to ensure orderly management and continuity.
"The Board wishes to emphasise that the investigation is currently at a preliminary stage and no findings of wrongdoing have been established against Ms Tan.
"The suspension is a neutral administrative measure to preserve the integrity of the ongoing probe and records, and does not constitute a disciplinary sanction or a finding of liability," said the group.
The suspension is not expected to have any material financial or operational impact on the group for the financial year ending June 30, 2027.
Shares in Matang closed unchanged on Monday at seven sen apiece after 384,600 units crossed.
