KUALA LUMPUR (Oct 31): Pasdec Holdings Bhd, a 51.65%-owned subsidiary of Pahang State Development Corp (PKNP), said Datuk Mohd Khairuddin Abdul Manan will resume his duty with the company as group managing director tomorrow. The resumption of duty came after his voluntary leave of absence since April 29 to facilitate the completion of a forensic audit by Messrs Deloitte Corp Solutions Sdn Bhd and a legal opinion by Messrs Bastian Vendargon with regards to certain mining activities carried out on land belonging to its subsidiary, Pasdec Corp Sdn Bhd. The company appointed Deloitte and Bastian Vendargon for the audit and legal opinion following news reports that the Malaysian Anti-Corruption Commission was investigating mining activities carried out on land belonging to Pasdec Corp."Both the forensic review and legal opinion have been completed and tabled to the Board of Directors of the company accordingly," said Pasdec today, but it did not disclose details of the report. Shares in Pasdec settled at 46 sen today, down one sen or 2.13%, for a market capitalisation of RM94.75 million.

Source: The Edge Markets October 31, 2016 13:15 UTC