KUALA LUMPUR: GIIB Holdings Bhd said its newly set up investigative committee to oversee the investigation process into the allegations against its executive director Wong Weng Yew, requires more time.

       “Given that the investigative committee was only set up on April 18, the investigative committee requires more time to seek proposals from the independent audit firms to investigate the above matter,” the rubber and rubber-related compounds manufacturer said in a Bursa filing.

       GIIB said the investigative committee comprised its independent non-executive directors Yong Wei Sang and Tee Jun Shern and Tai Qiyao, the alternate director to executive chairman and chief executive officer Tai Boon Wee.

       It said the committee will assist its board of directors in overseeing the investigation process.

       Wong has been suspended from his employment with the company since March 28 and the suspension has been extended until April 25 pending the evaluation of the reply of show cause from Wong.