Yayasan Akalbudi never conducted audit, AGM, court hears in Zahid corruption trial

KUALA LUMPUR: A Yayasan Akalbudi employee told the High Court Wednesday (Feb 12) that the company - owned by Datuk Seri Dr Ahmad Zahid Hamidi - had never conducted an audit, annual general meeting nor filed its financial reports with the Malaysian Companies Commission (SSM).

Mahinder Kaur, 65, said to her knowledge, the company had never done all three company-related matters throughout her appointment as its secretary since 2012.

It had also never called for a meeting of the board of trustees.

“I was never informed of the company's activities, ” she said here in her witness statement Wednesday.

The witness said she had raised the matter regarding the AGM and annual audit with Zahid on several occasions, and he told her that she would be given the necessary documents for the purpose.

“However, until now, I have not received any documents to enable me to update Yayasan Akalbudi’s documents with SSM, ” she said.

Mahinder said she had also never received any query from SSM regarding the company.

The witness, who knew Zahid since 1989 as a regular friend, said she was first appointed as a company secretary for Measurement Sdn Bhd - also owned by Zahid - in 1993.

In 2003, while still holding the position at Measurement, Zahid had asked Mahinder to update documents for Yayasan Akalbudi.

“This meant he wanted me to become the company secretary for Yayasan Akalbudi because I would not be able to update a company’s documents without being appointed its secretary.

“Zahid’s purpose in asking me to update the company documents was because he knew since the establishment of the foundation, it had never filed an AGM report or audit with SSM, ” she said.

Mahinder said she agreed to the task but from 2003 until 2011, she could not make the updates as she was not given the complete set of documents on the foundation.

Mahinder said she finally received all of the documents and was appointed as the secretary upon Zahid’s direction in 2012.

The former deputy prime minister is facing 47 charges - 12 for criminal breach of trust (CBT), eight for corruption and 27 for money laundering - involving tens of millions of ringgit in funds belonging to Yayasan Akalbudi.