Scan Associates sets up investigative panel

PETALING JAYA: Scan Associates Bhd has established an investigative committee to conduct an investigation on the possible serious breach of duties of a director and the preparation of the company’s subsidiaries audited financial statements.
In a filing with Bursa Malaysia last Friday, the company said the investigative committee comprises three non-executive directors of the company.
It has also suspended Yeoh Eng Kong as a non-independent and non-executive director for two months with immediate effect.
The Guidance Note 3 company had in November last year filed a statement of claim against co-founder and former CEO Datuk Norbik Bashah Idris and CFO Nurul Huda Zaharol Natrar for breach of the duties and responsibilities that led to losses in the company.
Prior to that, its external auditor Baker Tilly Monteiro Heng said it was not able to obtain sufficient appropriate audit evidence on the group’s and company’s ability to continue as a going concern.
Baker Tilly Monteiro Heng resigned as auditors of the company and its subsidiaries in June this year.