July 2, 2012
Not quite a Right Directors
Last updated upon 1 Jul 2012 06:26pm
by R. Nadeswaran@www.thesundaily.my
LAST Tuesday, a chairman of a Public Accounts Committee (PAC), Dato' Seri Azmi Khalid done a ban indictment upon supervision officials allocated to a play of companies. To be satisfactory to him, it was only related to counts connected to a argumentative National Feedlot Corporation (NFCorp).
The PAC outlined a series of weaknesses in a customary handling procedures (SOP) applied by a Finance Ministry as well as a Agriculture as well as Agro-Based Industry Ministry whose member lay upon a NFCorp house to "protect" a government's interests.
For a record, let it be pronounced that theSun to a single side pennyless a story upon inadequacies of supervision member upon a NFCorp board.
On February 23, you reported that NFCorp bought luxury condominiums without a approval of a house of directors. Three supervision member who lay upon a house were not consulted or told about a purchase. The 3 have been Alias Mohd Yassin who represented a Agriculture Ministry, Manaf Hussein a Finance Ministry as well as Datuk Mat Ali Hassan who was allocated by trait of being a Negri Sembilan state secretary.
Azmi's statement was interspersed with well-mannered words since politicians infrequently design us to examination in between a lines or contend "read my lips". Azmi was not wearing his domestic hat when vocalization as well as many might wish to perspective his research as "advice". Whichever way a single looks at it, it is transparent clear a systems as we! ll as pr ocedures that have been in place have been often disregarded for profitableness domestic or otherwise.
Azmi's views cannot be disputed. you do not mean to look down upon any
profession, though when you appoint someone who is more apt at driving a forklift or a clergyman whose competency is in a area of teaching embankment than knowing about ports as well as operations involving millions of ringgit, naturally, a single can design disaster. In many cases, such posts have been linked to domestic association as well as patronage not competency or ability. An e.g. is a Chairman of a Port Klang Authority as well as a directors.
Dissecting as well as deciphering Azmi's straightforward yet courteous remarks was not a back-breaking task. It is not a initial time that government-appointed directors were "sleeping upon a job" as well as it won't be a final until as well as unless a supervision insists upon being open as well as under obligation to a people. Here's what Azmi had to contend (in bold) followed by an interpretation:
"Among a weaknesses in SOP of a financial as well as agriculture as well as agro-based attention ministries embody in giving instructions, as well as member as well as officers from a ministries not carrying a know-how when it came to their responsibilities as house members of NFCorp."
Both a ministries allocated people who were not wakeful of their responsibilities together with their fiduciary duties. The member were not told of their roles as well as responsibilities. In short, they had no knowledge.
The member were told that they were allocated to a house upon an ad-hoc basement without taking into account their education as well as knowledge. Standard handling procedures have been there though such practices have been vague, fuzzy as well as indistinct.
"The officers representing a ministries did not have a know-how to be upon a house of directors. Maybe they knew their responsibilities though actions to ensure a proper procedures were followed were lacking."
The ministries allocated people who were not skilled or did not have a imagination to be upon a board. They might have been glorious career officers in a supervision use as well as might have been wakeful of their responsibilities though had no believe in creation decisions as members of a board.
So, where do you go from here? Do you ever sense from mistakes? Do you practice calming measures? Is there a examination of supervision appointees vis--vis their believe as well as competency upon boards? No, you cannot design changes overnight, you have been often told. They take time as well as yes, it infrequently takes years or decades many of a time it never happens.
Let's not look far. There were as many as 7 supervision servants upon a house of a Port Klang Authority as well as their movement as well as inaction over a years have led to a organisation to a verge of insolvency. Has any movement been taken against them? Zilch!
Last year, when some newly-appointed PKA directors wanted to take polite movement against their predecessors for failing to lift out their fiduciary duties, a pierce was opposed by polite servants upon a board. It's called "solidarity among polite servants". So, you have been behind to square one.
!Bil lions have left down a empty since they unsuccessful to practice their duties as "ordinary men of business". So, now, you have a NFCorp staring in our faces. Azmi has forked out a shortcomings that state that a directors had unsuccessful in their duties.
What does he wish to do with them? If he suggests that movement be taken against them, they will come down upon him similar to a tonne of bricks. Of course, they will continue their pen-pushing days as well as retire with a handsome pension. Do you design anything to change?
R. Nadeswaran says a only halt to ensure there is no repeat of such indiscretions is wielding a large stick. He is editor (special as well as investigative reporting) at theSun. Comments: citizen-nades@thesundaily.com
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