PETALING JAYA: GIIB Holdings Bhd has initiated investigations against its recently suspended executive director, Wong Weng Yew.

       In a filing with Bursa Malaysia yesterday, GIIB, formerly known as Goodway Integrated Industries Bhd, said the board had resolved to engage an independent audit firm and “any other experts” if it requires to undertake the investigations.

       “The suspension of Wong from his executive roles in the company and its subsidiaries is to facilitate the investigation into his management and handling of the glove business and the group’s accounts.

       “Subject to further development of the suspension, the firm is not expected to have a material financial or operational impact apart from the professional fees to be incurred for the investigation,” it said.

       On Monday, GIIB announced that it had suspended Wong from his employment since March 28, 2022. The suspension had been extended until April 25, 2022, pending the evaluation of a reply of show cause from Wong.