PROPERTY and aviation outfit Sapura Resources Bhd has confirmed that investigations into its former managing director Datuk Shahriman Shamsuddin for possible breaches in relation to the terms and conditions of his contract of employment is still on-going.
Recall that Shahriman had on Oct 29 tendered his resignation as the head honcho of Sapura Resources as well as from his directorships of the company’s subsidiaries.
In a written reply to questions from FocusM, the board of of Sapura Resources reiterated its commitment towards complying with the relevant laws and regulations as well as with the company’s policies and procedures.
“We will also seek external legal counsel on the next course of action, if any, based on the outcome of the investigation,” asserted the group. The board did not offer any timeline as to how long the internal probe will take.
Additionally, the Sapura Resources board of said it is committed to upholding the highest standards of integrity and corporate governance, and will continue to act in the best interest of the Company and its stakeholders.
Earlier, Sapura Resources had confirmed that Shahriman who is the younger brother of Sapura Energy Bhd’s former president and CEO Tan Sri Shahril Shamsuddin has been placed on leave of absence since Sept 11 as investigative proceedings were underway.
In a follow-up filing to Bursa Malaysia, the company also disclosed that it has issued show cause letters to Shahriman and had appointed Reza Abdul Rahim as the acting managing director with effect from Oct 10.
At 3.33pm, Sapura Resources was unchanged at 26 sen with 2,000 shares traded, thus valuing the company at RM67 mil. – Nov 13, 2024
