KUALA LUMPUR, Aug 22 — The evidence of irregularities and lack of proper governance in the Littoral Combat Ship programme were gathered as early as 2010, according to a forensic audit report by Alliance IFA Sdn Bhd for Boustead Heavy Industries Corporation Berhad .
It said major decisions were also taken through Directors’ Circular Resolution without convening a board meeting which further reduced the transparency and opportunity to discuss in detail and to go through certain vital documents before approving the resolution. Based on a report, by the Investigating Committee on Governance, Procurement and Finance, which was declassified on last Wednesday, a total of RM5.94 billion had been paid by the Defence Ministry to BNS for the project so far.
“This provided the MD with absolute control and resulted in a lack of independence amongst other members of the committee. As a result, the members became redundant and failed to discharge their function for which they were selected in the LCSSC,” it said.
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