Icon Offshore CEO opts out of re-election

KUALA LUMPUR: Icon Offshore Bhd CEO Dr Jamal Yusof, who was remanded by the Malaysian Anti-Corruption Commission (MACC) last month, did not seek re-election as a director at the company's AGM this morning.
Its chairman Raja Tan Sri Arshad Uda said the company received a letter from Jamal this morning indicating his intention to withdraw his offer to be re-elected as a director, in order to assist with investigations.
Jamal has been on leave of absence since April 27, 2015 and will remain so for a period of six months. His brother Rahman Yusof, COO of Icon Offshore, is also on leave of absence for the same period.
"In his letter to the board, he said that he will in due course, discuss with the board on the future leadership of the company going forward. Based on his actions today, we are confident he will continue to put the best interest of the company ahead of his personal interest," Arshad told reporters at its AGM this morning.
According to Arshad, the company does not have any new updates on the investigation and have not been notified on the nature of the investigation.
"They have talked to the people involved and taken whatever documents relating to them. They have not notified us on the nature of the investigation," he added.
Jamal and Rahman were remanded by MACC for three days last month.
Senior independent non-executive director Datuk Wira Azhar Abdul Hamid said no charges have been made.