Hood quits as Kontena braces for financial scandal

The aricle in Malaysia Focus

Hood Osman was relatively unknown until details of a financial lawsuit resurfaced late 2012 and linked him to a multi-million ringgit syndicated loan and, rightly or wrongly, to Opposition leader Anwar Ibrahim [Security risk of Hood Osman by A Voice, 5 April 2012; Little (turning) Red Riding Hood, Big Dog, 5 April 2012].

Despite the exposes in the blogs and the social media, the gods at PNB held on to Hood. He was, according to sources, the blue-eyes of Tun Ahmad Sarji, the PNB chairman since 1997.

But the inevitable has a way of making itself happen, sooner or later, by hook or crook. According to the business weekly Focus Malaysia (May 25-31 issue), a brewing financial scandal is brewing at Kontena with Hood having tendered his resignation on May 10 and more heads expected to roll.

These heads may include Hood's bosses as "some shareholders believe (parent company) NCB directors should be held accountable for the fiasco considering that they should have been more involved in the business".

There's also talk that Ahmad Sarji will be calling it a day very soon.

-rocky's bru