Say No To Hudud

Sunday, March 6, 2011

Maxis is furious with PwC - Part 1

Tan Sri T. Ananda Krishnan - the majority shareholder of Maxis, is a strict, no-nonsense man. He has had a good relationship with the minority shareholders of Maxis. Can you now imagine his anger at being entangled with a tarnished auditing firm like PwC?

Letter from the General Counsel of Maxis, Mr Stephen Mead. Received from a Maxis insider.
Tan Sri Zarinah blames PwC for her predicament.
Tan Sri Zarinah has been fielding queries from PLC's like Maxis, and has expressed her intentions to step down.

Even the General Counsel of Maxis Bhd, Mr Stephen Mead, has asked the minority shareholders who raised questions as to the physical and legal impossibility of the registration of PricewaterhouseCoopers as an auditor for Public Interest Entities to be raised directly with the regulators and PwC itself.

How does it reflect on PwC Malaysia,  that Maxis has asked their shareholders to refer to the regulators and to the auditing firm itself, on the allegations of fraudulent practices?

What kind of answers can the shareholders expect from the regulators when the regulators have already compromised themselves?

What manner of reply can the regulators give to the many allegations of fraud raised against Chin Kwai Fatt and a few other senior partners of PwC Malaysia?

Maxis has posed these questions to both PwC and the SC, and did not get any satisfactory answers at all.

They are perplexed as to how their auditors were registered on the 1st of April, 2010, when the law to collect fees for the registration only came to force on the 15th of April, 2010.

Chin Kwai Fatt is now aggressively lobbying his old buddy, Idris Jala, and PEMANDU, for ETP jobs. (story coming soon)

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