Yayasan Akalbudi held AGM, Zahid’s defence contends
Former deputy prime minister Ahmad Zahid Hamidi’ defence team contended that Yayasan Akalbudi had, in fact, held its annual general meetings.
This came after several of the foundation’s board of trustee members and its secretary TS Mahinder Kaur testified that no AGMs were held during their stint in office.
Former deputy prime minister Ahmad Zahid Hamidi’ defence team contended that Yayasan Akalbudi had, in fact, held its annual general meetings.
This came after several of the foundation’s board of trustee members and its secretary TS Mahinder Kaur testified that no AGMs were held during their stint in office.
The matter was proposed by defence counsel Hamidi Mohd Noh during Mahinder’s cross-examination at the corruption, money laundering, and breach of trust trial against Zahid, which involved Yayasan Akalbudi funds.
Hamidi quoted Yayasan Akalbudi’s notice of resolution to the Companies Commission (SSM), which is dated Aug 8, 2007 and was signed by Mahinder herself.
The document mentions that during a “general meeting” on July 10, 2007, several amendments were made to the company’s memorandum and articles of association (M&A).
Based on Article 28(a)of the foundation’s article of incorporation, the amendment could only be made through an AGM or extraordinary general meeting that is convened for that purpose.
Thus, Hamidi suggested that since meeting involved amendments to the M&A, the meeting could be considered an AGM.
However, Mahinder, the trial’s 28th witness, rejected the suggestion.
Earlier, in her witness’ statement, Mahinder said she was offered a job as the company’s secretary in 2003 when Zahid asked her to update Yayasan Akalbudi’s documents because “the foundation had never filed AGM reports and annual audits to SSM”.
This is despite the Companies Act 1965/2016 stipulating that a company’s first AGM must be held within 18 months after it is registered, subsequent AGM should be held no more than 15 months later.
Despite agreeing to the job, Mahinder said Zahid had never provided her with the documents to be updated.
“Between 2003 and 2011, I could not update Yayasan Akalbudi’s documents because I was not provided complete documents regarding Yayasan Akalbudi,” she said.
She added that to her knowledge, the foundation had never held board meetings, AGMs, or send its audit reports to SSM as required.
“I have informed Zahid on several occasions regarding the Yayasan Akalbudi AGM and audit reports that need to be filed to the SSM, and he reiterated that he would provide the necessary documents.
“But to date, I still haven’t received any of the relevant documents that would enable me to update Yayasan Akalbudi’s document with the SSM,” she added.
Zahid is facing 47 charges in total, of which 12 pertain to allegations of criminal breach of trust involving Yayasan Akalbudi, eight charges of bribery, and 27 charges of money laundering.
The hearing, which is now in its 14th day, was heard before Kuala Lumpur High Court judge Collin Lawrence Sequerah.
Upon re-examination by deputy public prosecutor Lee Keng Fatt, Mahinder agreed that based on Companies Act, the minutes of every meeting has to be recorded. However, she could not recall the specific section that stipulates this requirement.
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