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Former Sime Darby group CEO to be charged with CBT
PUTRAJAYA: Former Sime Darby Bhd president and group chief executive officer Datuk Seri Ahmad Zubir Murshid has been arrested by the Malaysian Anti-Corruption Agency and is expected to face charges today under the Penal Code.
The 55-year-old, who was removed from the government-linked company, is expected to be charged with criminal breach of trust and cheating.
MACC investigations director Datuk Mustafar Ali said Zubir had been released on a RM50,000 bail in one surety, pending the charges.
Zubir had been implicated in land deals in Sarawak that had resulted in the company losing more than RM100 million.
He was said to have been entrusted with the company’s funds to acquire 18 native customary rights (NCR) land under the Sarawak Upstream Expansion Plan for land in the state.
It is understood that the said NCR land areas were located across the state, including in Enbatai and Sarikei.
It is learnt that the deputy public prosecutor is citing Zubir for criminal breach of trust and having dishonestly failed, as head of the company, to take or instruct legal action to rectify the subsequent award of the said NCR lands to a privately owned company.
His actions had allegedly caused the company to incur the massive losses.
This was said to be the result of the company having to acquire the privately owned company.
Zubir was removed from his post in 2010 in what was seen as the first high-profile removal of a head of a GLC. His departure was said to be in connection with cost overruns in the company.
It was reported in December 2010 that Sime Darby had filed a civil suit at the Kuala Lumpur High Court against him and four others for alleged breaches of duties.