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NewsPress Release

MIMOS clarifies on dismissal of 4 senior executives

Reference is made to newsreports in two local Malay language dailies on June 10.

MIMOS Berhad (MIMOS) vehemently denies the allegation of any cover-up being the cause of the recent dismissal of four senior executives, including its President & CEO. The two local Malay language dailies had reported yesterday on these allegations made by a local political party that the four executives were dismissed as an attempt to cover-up pilferage of large sums of project funds.

MIMOS has always adhered strictly to corporate governance practices as well as abided to the policies and guidelines of both the Ministry of International Trade and Industry (MITI) and the Ministry of Finance (MoF). Any project implementation and contract award is always subject to regular internal control processes and Treasury Guidelines of the Malaysian Government.

The four executives concerned were the subject of an exhaustive investigation by MIMOS’ internal audit team, which led to the due process of domestic inquiries and were subsequently dismissed in April 2019.

The domestic inquiries by MIMOS were conducted with full transparency and independence without any interference by the management and the Board of Directors of MIMOS. The domestic inquiry panellists included senior representatives from the Government.

The domestic inquiry panel had found that the four executives were in breach of the company’s policies and code of conduct, and as such disciplinary action was taken to dismiss them.

At all stages of the disciplinary proceedings, the executives were given ample opportunities to present their respective cases. MIMOS takes pride in following due process and treating its employees and officers with fairness and respect.

MIMOS has sought legal advice and will take the necessary action against those responsible for the allegations put forth against it.