The government has appointed independent auditing, and consulting firm Grant Thornton to manage the daily operations of Finance Ministry-owned Suria Strategic Energy Resources (SSER).
The Grant Thornton team will be led by Malaysian partner Kishan Jasani who has over seven years of experience in advisory and assurance.
It has also appointed Treasury deputy-secretary general Asri Hamidon as the chairperson and formed an executive committee comprising of former Agrobank CEO Wan Mohd Fadzmi Wan Othman, Grant Thornton Malaysia senior partner Hooi Kok Mun, and Finance Ministry officer Faisal Abdul Ghani.
SSER was involved in an RM9.4 billion scandal involving two pipeline projects.
Last month, Finance Minister Lim Guan Eng alleged that a payment of RM8.3 billion or 88 percent of the project value was made to the company despite only 13 percent of progressive works being completed.
Lim said the land has not been acquired and the laws were not complied with.
On June 5, former prime minister and ex-finance minister Najib Abdul Razak defended his administration’s award of two petrochemical and gas pipeline projects to China Petroleum Pipeline Bureau (CPPB).
He claimed that all necessary procedures and laws have been complied with in the negotiation and execution of the projects.