Khaw Boon Wan on AHPETC: In the good old days, Japanese CEO & board of directors committed suicide over mismanagement

His exact words: "... and in the good old days, they may even commit hara-kiri."

Jonathan Lim| February 12, 05:45 PM

 

Khaw Boon Wan: "The Auditor General's findings confirm that something is very wrong at the AHPETC. They paint a picture of financial mismanagement, incompetence, and negligence in corporate governance. If an auditor makes such a finding on a listed company, it would immediately cause consternation among the shareholders and a call for the removal of the CEO and the board of directors."

"In Japan, the CEO and board of directors will call a press conference and take a deep bow, and in the good old days, they may even commit hara-kiri. Where there are breaches of the Companies Act, both the company as well as the individuals responsible will be charged, and if found guilty, punished with fines and/or jail terms for the individuals."

"Unfortunately, throughout this saga we have found the MPs running the AHPETC to be evasive, unresponsive and misleading. In response for legitimate queries from auditors, my MND officials and their own residents and the media, they stonewalled, deflected the queries, made false or dishonest claims, raised irrelevant excuses and sought to confuse the public in the flurry of red herrings."

 

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