Rashdan resigns as Gamuda deputy MD amid conflict of interest claims

Mohammed Rashdan Mohd Yusof has resigned as the deputy managing director of Gamuda Bhd to concentrate on his role as the chairperson of the Energy Commission (EC).

This comes following calls for him to step down from his newly appointed role due to a "conflict of interest".

In a filing to Bursa Malaysia, the energy company said that Rashdan was resigning "to focus his attention, energy, and effort in his newly appointed role as the chairman of the Energy Commission".

Full compliance

In a statement, Gamuda said that Rashdan (above) had relinquished all his directorship duties effective today and will serve his notice until June 30.

"The group extends its best wishes to Rashdan for his future endeavours, including for his role as EC chairperson.

"Rashdan assured the board that there had been full compliance with all conflict-of-interest provisions as stated in the Energy Commission Act (Act 610) and that good governance was observed in all of his deliberations at the EC," the portal reported.

Rashdan had served as Gamuda's deputy managing director since May 1, 2018, and was appointed alternate director to the company’s CEO, Lin Yun Ling, on Sept 28 that same year.

Last month, the EC announced Rashdan’s appointment effective Feb 15, to replace Azian Osman, whose service ended on Feb 14.

However, the decision reportedly did not sit well with industry players, who were said to have concerns due to his link to Gamuda.

Prime Minister Anwar Ibrahim Anwar had reportedly said that he would look into the appointment, adding that "there should not be any conflict of interest".

Earlier this month, reform movement Aliran urged Putrajaya to revoke Rashdan's EC appointment and select an independent candidate who is not involved with any energy players for the job instead.

According to the Bursa Malaysia filing today, Rashdan has about 1 million ordinary shares representing a 0.04 percent stake in Gamuda Bhd. - Mkini