OTHERS NWP HOLDINGS BERHAD - ESTABLISHMENT OF INVESTIGATE WORKING GROUP AND SUSPENSION OF GROUP CHIEF EXECUTIVE OFFICER OF THE COMPANY AND ITS SUBSIDIARIES
NWP HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | NWP HOLDINGS BERHAD - ESTABLISHMENT OF INVESTIGATE WORKING GROUP AND SUSPENSION OF GROUP CHIEF EXECUTIVE OFFICER OF THE COMPANY AND ITS SUBSIDIARIES |
The Board of Directors of NWP Holdings Berhad ("NWP") wishes to inform that the Group Chief Executive Officer of NWP have been suspended effective today until further notice. The suspension decision is to facilitate the Investigative Working Group to carry out independent investigation proceeding for an alleged potential misconduct(s)/breach of fiduciary duty(ies) on certain past significant transactions under NWP Builder Sdn Bhd, a subsidiary of NWP.
In relation to above, the Board had established the Investigative Working Group with immediate effect with task to carrying out the necessary investigation proceeding. During the investigation proceeding period, all the executive power accorded to Group Chief Executive Officer will be suspended until any further notice.
Further announcements shall be made in the event of material developments on this matter.
This announcement is dated 10 February 2020. |
Announcement Info
Company Name | NWP HOLDINGS BERHAD |
Stock Name | NWP |
Date Announced | 10 Feb 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-10022020-00038 |