7 days ago
- Business
- New Straits Times
Manager allegedly vanishes after RM10m company funds go missing
JOHOR BARU: A roadworks supply company is appealing to a former manager to come forward and return RM2.5 million allegedly misappropriated from company funds — part of an estimated RM10 million loss uncovered late last year.
The woman, aged 58, is believed to have gone missing since November 2023 after internal investigations pointed to suspicious fund transfers into her personal bank account.
Business development manager Hoe Hong Seng said the company, which had employed the woman for over 20 years, only realised something was amiss towards the end of 2023 when sales revenue failed to appear in official accounts.
"She had access to company finances since 2004. By late 2023, we found that proceeds from sales were not deposited into the company account but had been redirected to her personal account.
"We confronted her and requested a repayment of RM2.5 million, backed by records from 2018 onwards. However, she only offered to return RM100,000 and then disappeared," he told a press conference hosted by Pasir Gudang MCA.
Present were Johor MCA deputy secretary Chan San San, the company's legal representative Tan Jun Jie, and company director Koh Chew Swee.
Koh said the company had placed full trust in the manager, describing her as a long-serving staff member and mother of three.
"We are not out to shame her, we just want her to come forward and settle this properly. We are only asking for what we can prove with receipts," he said.
"A police report was lodged in January last year. However, the police who went to her residence were unable to locate her," he said.
Chan urged police to step up efforts to trace the woman. He said her family members also claimed to have no knowledge of her whereabouts.
"We believe she is still in the country," she said.
Seri Alam police chief Assistant Commissioner Mohd Sohaimi Ishak confirmed a report was lodged.
The case is being investigated under Section 408 of the Penal Code for criminal breach of trust.
"Efforts to track down and detain the suspect are ongoing," he said.
