THE board of directors of glove maker WRP Asia Pacific Sdn Bhd (WRP) today announced the appointment of Tan Sri Musa Hassan, the former Inspector-General of Police, as an adviser on Regulatory Compliance and Security, to ensure adherence to Malaysia’s regulatory requirements.
The board which gained possession of the company in January, has, with the help of forensic auditors uncovered substantial legacy issues. These include discrepancies relating to regulatory compliance in the employment of workers and the misappropriation of WRP’s funds, which are expected to require extensive investigation and remedial measures.
The board has mandated Musa and his team of professionals to join its turnaround team to assess the company, its affiliates and subsidiaries on all regulatory and security-related matters. With this new development, the board has marked another milestone to ensure an expeditious and effective turnaround of WRP. – March 5, 2020, Bernama
