Bakke’s date with Sime still unknown

Wednesday June 30, 2010

Bakke’s date with Sime still unknown

PETALING JAYA: No decision has been made yet as to when Felda Global Ventures Holdings Sdn Bhd president and chief executive officer Datuk Mohd Bakke Salleh will finally step in as Sime Darby Bhd’s new president and group chief executive.
As of yesterday, a source told StarBiz that the man in the hot seat was still seen up and running at the Felda headquarters doing his usual business.
“He is a very busy man. What more with the Malaysian Anti-Corruption Commission which is said to be investigating the alleged financial mismanagement and graft at Felda,” the source added.
The controversy surrounding Felda came to light after it was revealed last week that its financial reserves had dropped significantly, with some quarters claiming that it could face possible bankruptcy in the next five years.
Deputy Minister in the Prime Minister’s Department Datuk Ahmad Maslan said last week that although Felda’s cash reserve had dropped from RM4.08bil in 2004 to RM1.35bil last year, its fixed asset had appreciated greatly, from RM9.17bil to RM15.37bil, during the period.
Meanwhile, the source said Bakke’s three-year working contract with Felda was believed to expire by end-December 2012. “Either way, he (Bakke) has been designated to take care of Sime Darby anytime now,” it added.

Posted by YB Datuk Hj. Ahmad bin Hj. Maslan on 1:42 AM. Filed under . You can follow any responses to this entry through the RSS 2.0

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