Directors spent thousands on trips and paid bonuses without approval

PETALING JAYA: Directors of the Kedah state-owned Yiked Kuari Sdn Bhd (YKSB) spent RM85,375 for family day trips to Hong Kong and New Zealand and were also paid bonuses totalling RM40,637 without prior approval.

The Auditor-General’s (A-G) Report 2008 also said the board of directors of Yiked tried to get the approval during the Annual General Meeting for trips to Hong Kong in 2007 and New Zealand in June last year.

There was also no approval for the bonus payments to the general manager, deputy manager and three executives of Yiked, a wholly-owned subsidiary of Yayasan Islam Negri Kedah, said the report.

The auditor also noted that honorarium payments of RM60,000 in 2006, RM150,000 in 2007 and RM99,000 last year were not endorsed during the AGM. - + selanjutnya

Directors spent thousands on trips and paid bonuses without approval