KUALA LUMPUR: Public Accounts Committee (PAC) chairman Datuk Mas Ermieyati Samsudin has called for an investigation into governance practices at Pelaburan Hartanah Bhd (PHB) following concerns over the company's executive bonuses and spending.
This comes after it was revealed that PHB's chief executive officer (CEO) received a RM210,000 bonus, equal to three months' salary, despite the company only achieving 42 per cent of its key performance indicators (KPIs).
Mas Ermieyati, who is also the member of Parliament for Masjid Tanah, said that PHB had initially planned an overseas luxury holiday for employees, but the trip was swiftly cancelled after public backlash on social media.
"While offering benefits to employees can boost morale, it's troubling that such perks were withdrawn only after public scrutiny," she said during the debate on the 2025 Supply Bill yesterday.
Mas Ermieyati said that there is a need for transparency. She pointed to recent controversies involving Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) over investment losses with FashionValet, saying PHB's actions also require public explanation.
She also raised concerns about potential conflicts of interest, disclosing that the CEO had donated RM50,000 to his former school, which raises further governance questions.
PHB management has so far not responded to inquiries on these allegations.
Stakeholders are now awaiting clarity on PHB's governance practices and the implications of these financial decisions.
https://www.nst.com.my/news/crime-courts/2024/11/1129834/after-khazanah-and-pnb-now-phb-under-scrutiny-ceos-rm210000-bonus
Created by savemalaysia | Dec 14, 2024
Created by savemalaysia | Dec 14, 2024
Created by savemalaysia | Dec 14, 2024
Created by savemalaysia | Dec 14, 2024
Created by savemalaysia | Dec 14, 2024
Created by savemalaysia | Dec 14, 2024