KUALA LUMPUR:TMC Life Sciences Bhd today said that the suspension of its group chief executive officer (GCEO) Wan Nadiah Wan Mohd Abdullah Yaakob from her duties is to facilitate an internal disciplinary process for allegations the company did not disclose.
The company in a filing with Bursa Malaysia Securities Bhd said, the allegations were stated in a show cause letter to Wan Nadiah dated Jan 29, 2024.
TMC Life Sciences's announcement was in response to a query from Bursa Malaysia Securities Bhd dated Jan 30, 2024, to clarify the circumtances or reasons leading to the suspension of Wan Nadiah on Jan 29, as well the next course of action and timeframe to resolve the matter.
In its response to the query, TMC Life Sciences said Wan Nadiah was given seven days, up to Feb 5, 2024, to submit her written reply to the said show cause letter.
TMC Life Sciences said should she require more time, Wan Nadiah may be granted an additional seven days to submit her written reply.
The announcement said if submitted within the time permitted, her written reply to the show cause letter will be considered and deliberated to determine whether the next course of action in the disciplinary process is necessary. "Mindful of the proceedings applicable by law and considering that several factors usually determine and dictate the exact time frame involved, the board is unable, at this juncture, to estimate the timeframe involved to resolve this matter," the company said in its filing with the bourse.
The board of TMC Life Sciences said it took the view that in light of the on-going disciplinary process, and that the facts of the matter are still in a state of flux, immediate disclosure of the facts or circumstances regarding the suspension would prejudice the outcome of the disciplinary process.
TMC Life Sciences assured the regulator that future announcements on the matter would be made at the appropriate time.
On Jan 29, 2024, TMC Life Sciences Bhd announced that it had suspended the employment of Wan Nadiah Wan Mohd Abdullah Yaakob from her positions as GCEO and CEO of Thomson Hospitals Sdn Bhd with immediate effect without providing a reason for the action.
Dr Heng Jun Li Melvin, a director of TMC Life Sciences, has been temporarily designated as the GCEO.