TMC Life clarifies suspension of its group CEO

PETALING JAYA: TMC Life Sciences Bhd has clarified that it had suspended its group chief executive officer (GCEO), Wan Nadiah Wan Mohd Abdullah Yaakob, to facilitate an internal disciplinary process.

In a filing with Bursa Malaysia, the company said the disciplinary process is in relation to allegations stated in a show cause letter issued to her on Jan 29, 2024.

“Wan Nadiah has been given seven days (up to Feb 5, 2024) to submit her written reply to the said show cause letter. If she requires more time, Wan Nadiah may be granted an additional seven days to submit her written reply.

“If submitted within the time permitted, her written reply to the show cause letter will then 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, TMC Life said the board is unable, at this juncture, to estimate the time frame involved to resolve this matter.

“The board took the view that in light of the on-going disciplinary process, the outcome of which can only be determined at a later date as well as the confidentiality surrounding the allegations, immediate disclosure of the facts or circumstances regarding the suspension would prejudice the outcome of the disciplinary process.

“Furthermore, the facts of the matter are still in a state of flux and a more appropriate moment for disclosure is imminent. The Board wishes to assure Bursa Malaysia that future announcements will be made at the appropriate moment. The board wishes to give further assurance that every step is taken to maintain this matter at its strictest confidentiality.”

TMC Life announced the suspension of Wan Nadiah on Monday. The company said she was also suspended as CEO of Thomson Hospitals Sdn Bhd.

The same day, TMC Life said it had appointed its director, Dr Melvin Heng Jun Li, as its new GCEO.

The company said it will continue its business as usual, while Heng temporarily assumes the duties and functions of its GCEO.