MSWG Weekly Newsletter 29 April 2022 (English)

GIIB’s executive director claims wrongful suspension


Technical rubber compound provider GIIB Holdings Berhad (formerly Goodway Integrated Industries Berhad) must now prove that its suspension of executive director Wong Weng Yew is valid and just as the latter has vehemently challenged the action meted out against him.


In an announcement dated 11 April, GIIB said Wong’s suspension was effective from 28 March.  The suspension was then extended to 25 April pending the evaluation of the reply to the show cause letter issued to him. The suspension was to facilitate the investigation into his management and handling of the glove business and the Group's accounts.


A week later, Wong in a media statement, claimed that his suspension by GIIB came about after he raised questions about the nature of several transactions which he found to be suspicious. He said ever since he had brought the transactional issues to light, the management had treated him “with hostility and contempt”.