Resign or be sacked!

ANOTHER BRICK IN THE WALL

Bigdog's latest posting reminded me of a line in a British standup comedy that made a parody of Charles Dicken's Tale of Two Cities as The tale of two titties.

The parodied title turn out to be a title of a porn movie.

Certainly, one can described the negligent and incompetent manner the so-called "illustrious" Board of Directors of Sime Darby carried out their fudiciary duties as obscene, repulsive and pornographic.

This is a result of the practise and culture of appointing members on the Board of PLCs and GLCs as reward for retired politicians and top civil servants. It is like giving flowers to monkeys.

In Big Dog's latest posting, he is practically launching an already on-going and as good launched campaign to remove the members of the Board of Directors of Sime Darby he dubbed as "The Tale of the Two Tuns, Five Tan Sris and Four Datos".

Why must the illustrous BOD of Sime Darby be removed? Read extract from Bigdog's below:

The stewards who have fiduciary duties over the conglomerate must be accountable. The board of directors (BOD) comprises of ‘illustrious members of the society and corporate community’, with some representing the shareholders.

Having said that, despite of their professional training and aggregate vast amount of exposure and experiences amassed in various capacities through time, they deemed to fail their duties. The convenient blame is when Chairman Tun Musa Hitam told the press, “Management misled us and hid the truth”.

This is unacceptable.

They are members of the BOD. They have the right to ask questions and demand for answers.

If the answers are not convincing enough, then they should talk to the various level of executives. They have an audit committe at the BOD level. They also have the right to interact with the external auditors.

Musa Hitam: Showing the gesture what needs to be done about the BOD?

All of these deliverables expected of the BOD are not without basis. The issues that lurk Sime Darby on the Bakun and oil and gas have been openly discussed in market, even in publications, including here in BigDogDotCom.

Unfortunately, all of these fell out of the radar scope of the ‘illustrious members of the BOD’.

Are the members of the BOD felt that they are to high up and well placed in the society that they are indispensable?

We are not sure.

However, the BOD comprises of personalities such as former Deputy Prime Minister Tun Musa Hitam, former Chief Secretary to the Government and now PNB Chairman Tun Ahmad Sarji Abdul Hamid, former Bank Negara Assistant Governor Tan Sri Andrew Sheng, former Chief Secretary to the Government Tan Sri Shamsuddin Osman, former Director General of Education Tan Sri Wan Zahid Nordin, former PwC Executive Chairman and MICPA President Raja Tan Sri Arshad Raja Tun Uda and former SIRIM Director General and nuclear engineer Tan Sri Dr. Ir. Ahmad Tajudin Ali.

This is accompanied by four other Datos namely former BIMB Supremo Dato’ Dr. Abdul Halim Ismail, prominent lawyer and former SUHAKAM Commissioner Dato’ Paduka Zaitoon Osman, Sime Darby veteran Dato’ Mohamed Sulaiman and a chartered accountant from Britain Dato’ Henry Sackville Barlow.

It is unbelievable these men and lady did not ask Zubir the right questions. Especially when losses that large must be accumulated through time.

There are chartered accountants (Raja Arshad, Mohamed, Barlow), a seasoned banker (Dr Halim) and engineer in the BOD. Four of them were from the pre-Synergy Drive Sime Darby BOD.

The very least, the progress and extension of the projects involved. What is most baffling weren’t they curious the development on these projects, Bakun, MOQ, QP and the marine project in QCC states?

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Comments (18) Add Comment

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written by justice seeker, September 08, 2010 09:38:14

The 2 Tuns, 5 Tan Sris and 4 Datos on Sime Darby BOD deserve sacking!

CHOP THEM UP, BURN THEM AND USE THEM AS FEED FERTILIZERS FOR ALL THEIR PALM OIL TREES. THIS IS THE SECOND BIG SCREW UP AFTER THE UMBC LOSS. WONDER WHAT WILL BE THE THIRD BIG ONE, WHEN, AND HOW MUCH IT WILL BE.

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written by onnetline, September 07, 2010 23:06:12

A thick skinned and no integrity kind of Board Of Directors !

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written by a guest, September 07, 2010 04:33:24

They don't even have the balls to sack the headmistress do you think they can sack these rich people.

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written by Davy McChester, September 07, 2010 00:46:53

The above is a microcosm of the illness,What about it compared on a larger scale : Ministers of BN carried out their fudiciary duties as obscene, repulsive and pornographic.
Both in their "deliberate" oversight bankrupted the establishment and both therefore deserve the same treatment.
You can't run a public listed company and a public elected Government on an old- boy basis . The country needs the best brains ,accountable to the public ,not to the bloodsucking politicians

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written by lakian, September 06, 2010 22:27:54

you can be sure if no chinese in the bod,there is always no success!should chinese be the pm ?please think of it !

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written by Saint, September 06, 2010 22:03:55

Dato’ Henry Sackville Barlow. has always been noted for his integrity.
Surprised to see him being part of it. There must more then what meets the eye.

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written by Alice, September 06, 2010 18:27:14

It is such an embarrasment to the rakyat to see our most 'competent' office bearers in Sime Darby. It is a disgrace.Looking important and holding huge titles and totally incompetent. Thanks to the NEP our country has gone to the dogs. Sigh......

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written by Eskay345, September 06, 2010 18:21:05

Chairman Tun Musa Hitam told the press, “Management misled us and hid the truth”.

The above line seems to be the most common excuse by people occupying the top-most floor.
He could have added, "The management officers gave us "buta gaji", much free time, many expence-paid holidays and also made us, the BOD members wear blinkers too.

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written by arazak, September 06, 2010 17:52:48

"The convenient blame is when Chairman Tun Musa Hitam told the press, “Management misled us and hid the truth”.

This is unacceptable."
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Hello Brick Wall and Anjing Besar,

Isn't this was what is happening with the PKFZ scandal? Isn't the Bonking AG and the "UMNO lapdog" MACC charging Ling Lion Sick for "misleading" the Bolehland Cabinet Ministers?

If you guys are so damn hell-bent of trying to get rid the 2 Tuns, 5 Tan Sris and the 2 Datos off from the Sime Darby's Board of Directors, than, under the same token, you guys should also be demanding all the gullible half-past6 UMNO-BN Cabinet Ministers who had been "mislead", conned or cheated by Ling Liong to resign their cabinet post as well. Same thing here; the reason of being "mislead" by Ling Liong as charged by the Bonking AG and the lapdog MACC is as you said would be "unacceptable". They should all resign en-block for the PKFZ scandal for allowing themselves to be "misled"!

Why stop at Sime Darby. . ., might as well apply it to the other defunct GLCs and even the thieving UMNO regime cabinet?

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written by batsman, September 06, 2010 17:19:48

If they participated or cooperated in a crime, they should be jailed not just sacked.

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written by truthbespoken, September 06, 2010 17:14:30

The point is the old men were first lodged into those lofty positions mostly as rewards for 'not opposing' the corrupt and arrogant UMNO government. Take Musa Hitam as an example. Financially, they don't need the job but yet accepted them because of the prestige the jobs carry.

With Sime Darby's significant losses now, it showed their so-called experience and business acumen didn't count and were inept for the job. In the process, they have actually deprived other younger, more professional and 'eager-to-prove-themselves' personalities the opportunity to take the high-profiled group to new heights. More importantly, it also reveals how unbusinesslike and wasteful this UMNO government has been through their acts of patronage in the GLCs.

Sime Darby may as well turn out to be only the tip of the iceberg where such government linked companies are concerned. The country's wealth is surely depleting faster than ever through this inept UMNO government and patronized system of business management, big-time plundering aside.

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written by DPG, September 06, 2010 17:07:43

It is the custom to appoint VVIP's, VIP's, and ex-senior Pengarah's, ex-Ministers to the board of directors of GLC's, etc., never mind if these people know nuts about running a business or corporation. So, this is the result of such policies. Look how many of GLC's have failed, and some of these failed GLC's should never have failed, given that they had so much support from UMNO and the government. Soft loans were theirs for the asking, and generous loan amounts too. In fact these GLC's need hardly come out with a single cent in capital outlay. The first VVIP to go should be Musa Hitam. Isn't he the no. 1 man in the company? Next to go should be the C.E.O. Then comes the directors of the board. Surely, I don't need to state all this! After that should come the general managers of the loss making arm of that particular department. But alas, in bolehland, the top people are hardly faulted, or made responsible for any disaster. It is normally the field man, read general managers, etc. who will be made the scapegoats. Have you heard of any investigations taken to investigate the PM's and previous PM's. They are above the law, in case you have not noticed. Even in Indonesia, Phillipines, and Thailand, the heads of the ruling government are not spared and can be arrested and convicted of any crimes.

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written by SpeakOut, September 06, 2010 17:06:07

Thieves have no honor- what do you expect?

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written by cty, September 06, 2010 16:59:58

Blame the major shareholders for putting them at the helm for checks and balances. The people at the Board were appointed as a reward for past favours and nothing else. They would never resign and give up their fat cheques. However we can learn from this lesson by not investing in companies with plenty of titled directors as in the case of Sime.

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written by Fart Fart Wah, September 06, 2010 16:46:49

if you notice these Moolayus are saying one for all and all for one. In the hey days of tun tan siew sin one cent from SD was difficult to squeeze out. It was said that for him one cent was like a bullock cart wheel. Today we have Moolayus wearing fancy western suits (their sarongs only worn for sunating) and parading like "i know all stuff' but the financial disaster and corruption boggles the mind of the honest and straigforward Malay..These Moolayus pray five times a day for what I do not know and fast for what I do not know..when you cannot even be responsible for public money and their investments..might as well be kafirs as they weill term the non-muslims..you do things that you say a kafir does..and claim that you are a non kafir...I would say bullshit to your celebration of a holy raya and ramadhan...munafiques..and this is not the first time for Sime Darby...the bloody mamak's SEWER HAND has corrupted the whole of the Malays society...

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written by gwc, September 06, 2010 16:43:18

i do not agree...if it is so simple just asking them to resign or sack them then who is paying the price of the loses??? is our tax payer's money. Is if fair??? Shld make them by hook or by crook to compensate for it, i don care how. If not, the punishment will sound "too cheap" for these moronssssssss.....

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written by my oumrie, September 06, 2010 16:20:50

How can they ask questions when their bollocks and titties were probably in the hands of the ruling executive? Its a question of - you reveal, you squeal!

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written by jokersland, September 06, 2010 16:03:52

In land of thievery, do you ever hear any big shot or minister held accountable for any wrongdoing ? All of have them a licence to plunder even in daylight. This is Bolehland mah !!!!!!