News Formal

Failure to recover RM3.6bil ‘investment’ frustrated SRC board, says ex-director

  • 📰 DailyExpress_MY
  • ⏱ Reading Time:
  • 10 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 83%

Sabah News

News,Newspaper,Headlines

Kuala Lumpur: The directors of SRC International Sdn Bhd became frustrated with management staff for their failure to secure the return of a RM3.6 billion “investment” made overseas, the High Court heard today.

Former director Che Abdullah @ Rashidi Che Omar said the company’s then CEO, Nik Faisal Ariff Kamil, had assured the board that the purported investment could be withdrawn at any time.“We told them to bring it back at whatever cost. We got agitated when we realised we did not get back the money that was promised,” he said.

SPONSORED CONTENT Electrifying windows of opportunity in Sabah - The right policies, collaborations, and strategies can turn emerging opportunities into victories for all parties in Sabah.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Long con: Store owner loses RM3.4mil over six years in investment scamThe 24-year-old Utah native cited her mental health as the reason she is stepping down from the title awarded to her Sept 29, 2023.
Source: staronline - 🏆 4. / 75 Read more »