Jumaat, Disember 24, 2010

SIME DARBY SUES FIVE FOR RM338MIL

Sime Darby sues five for RM338mil

PETALING JAYA: Sime Darby Bhd has filed a civil suit against its former group chief executive Datuk Seri Ahmad Zubir Murshid and four other former senior personnel for restitution of at least RM338mil plus general and aggravated damages and other relief.

In a statement to Bursa Malaysia yesterday, the conglomerate said the suit was related to its loss-making Qatar Petroleum, Maersk Oil Qatar and marine projects.

Sime Darby named Abdul Rahim Ismail, Abdul Kadir Alias, Mohd Zaki Othman and former head of the group’s energy and utility division Datuk Mohamad Shukri Baharom as the other defendants in the suit.

Sime Darby was thrown into the spotlight when it revealed in May the huge amount of cost overruns at its energy and utility division due to mismanagement.

That resulted in the group making provisions of up to RM2.1bil for the division in its financial year ended June 30.

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Sime files suit against ex-CEO

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