The independent probe by forensic auditors into the heavy losses sustained by government-linked company Sime Darby is expected to be completed by August, said its chairperson Musa Hitam.

As such, the company cannot comment on accountability for the close to RM1 billion in losses until the probe - conducted by audit firms Delloite and KPMG - has concluded.

He was speaking at a press conference today to announce the company's new president and CEO, Mohd Bakke Salleh.

NONE "We cannot make any comment because we want to go through the due processes. We're very careful," he said, when asked if the group would take former CEO Zubir Murshid to court over the losses.

While the forensic audit is taking place, said group director Andrew Sheng, a new management team has been appointed for the energy and utilities division.

"All efforts have been made to tighten expenditure and control costs," he said, adding that the terms for projects which have sustained cost overruns, are also currently in the process of renegotiation.

This includes the troubled Bakun hydroelectric dam project and the Qatar oil and gas projects.

However, chief financial officer Tong Poh Keow said as of today, the provisions for the energy and utilities division remain at RM1.3 billion as announced last month.

No stone left unturned

Musa said Sime Darby was attempting to be an example of good corporate governance by leaving no stone unturned in their probe and giving full cooperation to external investigators from the Malaysian Anti-Corruption Commission.

"Even if it implicates me, they can arrest me and you can take photos of me in handcuffs.

azlan "I am no longer in politics. I'm old, just waiting to pass away. No problem," he said tongue-in-cheek, reiterating that he was willing to take the blame if found responsible.

As such he 'thanked' parties who have called for members of the Sime Darby board to step down.

"The responsibilities of the chairperson and board of directors to Sime Darby is the same as the responsibility of a prime minister and his ministers.

"If a department in a ministry causes a scandal, as normal practice the minister is held accountable, or in the worst case, the prime minister.

"This is what is supposed to be done but is not done very often," he said.

Asked to leave

Former Felda head Mohd Bakke Salleh will take over from acting CEO Azhar Abdul Halim 'as soon as practicable'.

Azhar was appointed after Zubir Murshid was asked to take a leave of absence following a seven-month internal probe which revealed severe losses.