KUALA LUMPUR (Dec 21): Deleum Bhd has denied that it was involved in an alleged illegal scheme relating to oil services and maintenance contracts for Petronas Carigali Sdn Bhd.

The group said it never had a business strategy involving the use of alleged slush funds.

“The Deleum Group had no knowledge of the illegal scheme committed by the four employees of Deleum Primera Sdn Bhd (DPSB), the company’s 60% indirectly-owned subsidiary.

“The four employees of DPSB have gone on a frolic of their own to use the alleged slush funds to pay external parties and themselves, which was never authorised by the Deleum group.

“DPSB is the victim of the illegal scheme and suffered loss as a result of the illegal scheme,” said Deleum in response to an article published by thedgemarkets.com last week.

Deleum said the illegal scheme was uncovered by the forensic investigation conducted by PwC Consulting Associates (M) Sdn Bhd after it had noticed the poor performance of DPSB in a contract with Petronas Carigali and the unsatisfactory and suspicious explanations given for such poor performance.

“Based on the said forensic investigation, DPSB commenced the legal proceedings in order to recover its losses arising from the illegal scheme,” it said.

Deleum said the group has always emphasised strong corporate governance and is committed to professional and ethical business by adopting a zero-tolerance approach against all forms of bribery and corruption.

“The Deleum Group has introduced the Code of Business Conduct since 2009 (with relevant updates from time to time) and the Anti-Bribery and Corruption Policy. These policies are accessible and published on the company’s intranet and websites,” it stated.  

Further, the group said it has conducted training and briefing sessions to all the employees to educate them on the importance of compliance with the policies.

DPSB has commenced legal proceedings over the alleged illegal scheme. It is seeking RM19.88 million from its executives, Petronas Carigali Sdn Bhd executives and its own sub-contractors in a civil suit filed against them in November.

The alleged scheme was purportedly initiated to defraud Petronas Carigali in relation to multiple maintenance and services contracts between the Petronas unit and DPSB.

Deleum shares closed down three sen or 4.62% at 62 sen today, after 1.18 million shares were traded, with a market capitalisation of RM248.96 million.

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