Mara Corp ex-CEO fails to overturn RM3.4mil court order
PUTRAJAYA: Majlis Amanah Rakyat Corporation (Mara Corp) former chief executive officer Datuk Badlisyah Abdul Ghani has failed in his bid to overturn a court order requiring him to pay RM3.4 million to the company for breaching his contractual, fiduciary and statutory duties.
Former Mara Corp CEO Datuk Badlisyah Abdul Ghani lost his attempt to overturn a RM3.4 million court order. The Court of Appeal upheld the High Court's decision, finding no reason to interfere. The order requires Badlisyah to pay the corporation and indemnify it against industrial relations expenses. Badlisyah was appointed as Mara Corp's CEO in September 2020 but was suspended and later terminated in January 2021.
The case revolved around two key issues: his hiring of 25 employees without board approval and his false representation to the Board Nomination and Remuneration Committee regarding four employees' employment status. The Court of Appeal upheld the High Court's findings, noting the questionable hiring practices and authority overreach. Badlisyah also faced additional costs of RM50,000.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
