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

  • Nation
  • Wednesday, 12 Feb 2020

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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


100% readers found this article insightful

Next In Nation

Ismail Sabri: Condo management have no authority to compound residents who violate SOP
'I'm fine, vaccine is safe, ' says Muhyiddin a day after inoculation
New environmental issues in the new norm, says PM at Hibiscus Awards
Tapir wanders into school in Kuantan as students sit for SPM paper
Cops nab four over armed robbery at shop selling luxury items
No open houses and visits, Sabahans celebrating Chap Goh Meh reminded
Health Ministry: 18 Covid-19 clusters end, eight new ones emerge
MCO violators face up to RM10,000 fine under amended Emergency Ordinance from March 11
Dams and parks under Penang Water Supply Corp to reopen from Friday
JB workshop raided for selling gas cylinders without a licence

Stories You'll Enjoy