HHRG extends CEO suspension pending outcome of internal investigation

• Fong was initially suspended for two weeks from April 7 as a precautionary measure to facilitate an independent review into alleged misconduct that may have breached the company’s internal policies and terms of employment.

KUALA LUMPUR (April 21): HHRG Bhd (KL:HHRG) has extended chief executive officer Fong Chee Khuen’s suspension by two more weeks until May 4, pending the outcome of an internal investigation over alleged misconduct.

HHRG in a filing with Bursa Malaysia said it had issued a formal letter to notify Fong of the extension, and would announce any further developments as necessary. 

Fong was initially suspended for two weeks from April 7 as a precautionary measure to facilitate an independent review into alleged misconduct that may have breached the company’s internal policies and terms of employment.

During this time, executive deputy chairman Datuk Paduka Ammar Shaikh Mahmood Naim is handling all operational duties. 

Fong’s suspension comes amid a dispute between HHRG’s largest shareholder, Cfamillie Holdings Sdn Bhd (linked to the Ch’ng family), and the company’s board, where Cfamillie has no current representation.

Cfamillie has taken legal action to call an extraordinary general meeting to remove HHRG’s entire board and replace them with its own three nominees. The dispute between Cfamillie and HHRG is mainly over MG Furniture Sdn Bhd, which HHRG owns 51% of through a share sale agreement with Cfamillie in 2022.

HHRG is in the midst of a court-approved investigation into MG Furniture.

As part of its investigation, HHRG got a court order to stop MG Furniture’s managing director Ch’ng Chen Mong, director Tan Poh Cheng, and their son Ch’ng Boon Sin — all from the Ch’ng family behind Cfamillie — from entering the company premises, except for official duties with prior notice.

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