KOTA KINABALU: Sabah Mineral Management Sdn Bhd (SMM) announced that it has undertaken a comprehensive internal investigation, which has revealed significant breaches of fiduciary duties, alleged fraudulent activities, misrepresentation/deception to the board of SMM and misconduct by its former Chief Executive Officer Jontih Enggihon.
SMM Chief Executive Officer Natasha Sim said in response to these findings, the company has filed formal reports with both the Malaysian Anti-Corruption Commission (MACC) and the Royal Malaysia Police (PDRM).
She said the investigation identified multiple instances where Jontih acted beyond his authority and actions intended to benefit entities with potential conflicts of interest, in collusion with a third party representing a cartel of interests.
Natasha Sim
“These actions were conducted without the knowledge or approval of the Board of Directors, constituting a serious breach of Company policies and governance standards.
“In line with our commitment to transparency and legal compliance, SMM has also engaged external legal counsel to explore further civil actions against Mr Jontih to seek redress for any financial losses or reputational damage incurred by the company,” she said in a statement today.
She said SMM remains committed to upholding the highest standards of corporate governance, transparency, and accountability in all its operations.
The company is dedicated to protecting
the interests of its stakeholders and the people of Sabah and will not tolerate any form of misconduct that compromises the integrity of its operations, she added.
SMM is cooperating fully with MACC and PDRM in their investigations and will continue to provide any assistance required to ensure that this matter is addressed in accordance with Malaysian law.
“This statement is made to keep stakeholders fully informed of the company’s actions and commitment to responsible management,” she said.
