TH Plantations CEO on garden leave over RM5mil payouts, CFO resigns
In a filing with Bursa Malaysia, the company said the letter raises serious concerns about the CEO's role in the disbursement of the funds without proper authorisation.
"Together with the show cause letter, the CEO has been placed on garden leave commencing today, following the issuance of the show cause letter, until further notice," it said.
At the same time, the company's chief financial officer (CFO), who also received a show cause letter on the same day, has tendered her resignation with immediate effect.
Despite the leadership changes, TH Plantations assured stakeholders that it remains committed to operational continuity.
"The company shall continue its business as usual. In the interim, the functions of the CEO shall be assumed by a temporary board committee known as the board executive committee of TH Plantations, until further notice," it said.
In a separate filing, TH Plantations said CFO Marliyana Omar had "voluntarily" resigned from the role.
Marliyana, 44, joined the company in 2009 as an assistant manager and rose to become finance head, overseeing planning, management and execution of the group's financial operations.
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