It has been reported in the press today that Sime Darby has filed civil suit against its former CEO Datuk Seri Ahmad Zubir Murshid and 4 others for RM338 million. It seems from the press reports that Sime Darby did not seek relief for a Mareva Injunction whereby all the movable and immovable assets (i.e. properties, shares, money in the bank accounts and etc) of all the Defendants will be frozen in order to preserve all the assets of the defendants pending the disposal of the said civil suit.
Sime Darby’s legal actions were a bit late. The stable door is closed after the horses have bolted! however, its better late than never. The forensic reports were completed in August 2010 and only after a lapse of 4 months that legal actions have been taken. How about actions against the remaining balance of about RM1.7 billion?
When I questioned the Minister of Finance II in Parliament regarding the Sime Darby losses, he promised that the government will be transparent about it and shall table the forensic reports in Parliament when it is ready. When I asked the Minister of Finance II about the said report last month, the official reply here was that the said report cannot be tabled in Parliament because of the legal implications whereby defamation actions may be taken against Sime Darby. The reply showed that the Ministry of Finance was trying to hide the reports from the public. I wish to reiterate that all documents tabled in Parliament enjoy total immunity under the law. So any legal action taken by those named in the report can not be sustained under the Federal Constitution. However, the Deputy Minister of Finance has promised here to look into the possibility of tabling the said forensic reports in the next session of Parliament when I queried him on the last day of Parliament.
They are too many questions to be asked about the said reports. How much did Sime Darby actually pay to DBKL with regards to the purchase of the 70 acres Bukit Kiara land (KLGCC) where according to Sime Darby accounting records it had fully paid the purchase price of RM400 million? Here , Here During the meeting between Datuk Bandar KL and the WP MPs on 17-12-20101, Datuk Bandar has admitted DBKL has been instructed to give RM36.8 million million from hte remaining balance sum of RM40 million for this land deal. How scandalous?
During the next session of Parliament, I shall demand that the Minister of Finance II carry out his promise to Parliament and table the said forensic reports on the RM2.1 billion losses. SIme Darby is a GLC and therefore, all Malaysians are entitled to know about these financial scandals of Sime Darby.
