Asia Sentinel

Share this post
PMI: problem solved
www.asiasentinel.com

PMI: problem solved

M.A. Wind
Oct 14, 2011
Comment
Share

No explanation whatsoever: why was this director first non-independent, what changed that now she can be assigned to be independent?

I find that rather peculiar, to say the least. And it is not the first time for PMI:

www.mswg.org.my/project/mswg/media/2009/01/21/090954-916.PDF

The new independent director of PMI, Puan Farizon bt Dato’ Ibrahim, is a Director of Metrojaya, which is under MUI (who has a common majority shareholder with PMI), but once Metrojaya belonged to PMI. It was privatized in a rather poor way, the money offered per share was less than the cash per share. Later Metrojaya was sold by PMI to MUI. More about these controversial deals can be found with Ze Moola:

http://whereiszemoola.blogspot.com/search/label/Metro%20Jaya

No news further about the MGO of PMI. The announcement was made on August 26, 2011, they would follow up withing three weeks. That has long passed, does that mean the authorities are looking into the issues surrounding this MGO?

Somehow or the other I don't think that PMI is really trying to win the 2011 Corporate Governance award. Is it time for the authorities to interfere? Are the Minority Shareholders of PMI treated in a proper way?

CommentComment
ShareShare

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

TopNewCommunity

No posts

Ready for more?

© 2022 Asia Sentinel
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing