TH Plantations CEO put on garden leave, CFO resigns as allegations of RM5m payouts emerge

TH Plantations senior management were handed letters amid a probe into allegations of RM5 million in unauthorised payouts. — Composite pic via Instagram/TH Plantations

KUALA LUMPUR, July 19 — TH Plantations Bhd (THP) chief executive officer (CEO) Mohamed Zainurin Mohamed Zain and chief financial officer (CFO) Marliyana Omar have been served with show cause letters, relating to alleged unauthorised payments of RM5.1 million made to plantation workers.

The CEO has also been placed on garden leave commencing from the date of issuance of the show cause letter until further notice, the group said in a filing with Bursa Malaysia today.

Marliyana, however, has chosen to tender her resignation with immediate effect, it added.

“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 (board exco) of THP, until further notice,” it said.

The composition of the board exco consists of THP chairman Datuk Dr Ahmad Kushairi Din, THP independent non-executive director Kasmuri Sukardi, non-independent non-executive director Nor Adila Ismail and chief operating officer Alikamal Abu Hassan. — Bernama