Say No To Hudud

Friday, March 25, 2011

Why Tan Sri T. Ananda Krishnan is furious with PwC: Johan Raslan and Chin Kwai Fatt are evading him

Mr V. U. Kumar is the engagement partner in PwC who handles the Maxis account, but he has been unable to provide the answers to the questions raised by Tan Sri T. Ananda Krishnan over the many allegations of fraud against his fellow senior partners in PwC Malaysia.

The MD, Chin Kwai Fatt, and the Executive Chairman, Johan Raslan, of PwC Malaysia, are evading the questions raised by Maxis and Tan Sri T. Ananda Krishnan
Tan Sri T. Ananda Krishnan had asked V.U. Kumar to answer some questions on the fraudulent acts of Chin Kwai Fatt and other senior partners in PwC Malaysia, but the answers were not forthcoming.

To make matters worse, both Chin Kwai Fatt and Johan Raslan are now evading the queries from Tan Sri Ananda and Maxis, instead of stepping in and giving the explanation which V.U Kumar has failed to provide. 

Shouldn't it be expected that the MD and the Chairman of the largest auditing firm in the country will do whatever is necessary to clear any queries from the second richest man in the country, instead of running away from him?

The media can verify this by calling Maxis and asking for the details of what is happening. 

Why is it so difficult for Chin Kwai Fatt and Johan Raslan to man up and answer the questions from Tan Sri Ananda? 

Haven't they had enough time to figure out some explanation or other as to why they decided to rename PricewaterhouseCoopers Consulting (East Asia) Sdn Bhd, as PwC Consulting Malaysia Sdn Bhd (289801-A) in 2001, and then sell it to IBM Corp as the consulting business in Malaysia?

Can't they come up with an excuse why the real consulting arm of PwC in Malaysia, PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), is still under their control, and why they keep hundreds of millions of Ringgit in contingent liabilities hidden in it till today?

Do Chin Kwai Fatt and Johan Raslan find it so impossible to concoct a story on why they had to appoint Mr Foong Weng Chee and Ms Chu Kum Yoon (both of whom have never been involved in the consulting business of PwC in any way at all) as the Directors for the 'sham' company, PwC Consulting Malaysia Sdn Bhd (289801-A) which they passed off to IBM as the 'real deal', that they have to hide from Tan Sri Ananda?

Chin Kwai Fatt and Johan Raslan run an audit firm that does hundreds of millions of Ringgit in business every year, and we have to wonder how they manage this while hiding from the very individuals who send them a large part of their business.

Former Chairman of PwC, signed a sworn statement that PricewaterhouseCoopers Consulting Sdn Bhd (464379-U) is a member firm of PricewaterhouseCoopers globally. 

Maxis will be holding their EGM soon, and there is a high chance that PwC will be dropped as the auditors for Maxis, but are Chin Kwai Fatt and Johan Raslan planning to keep running away from the questions till that happens?

Don't Chin Kwai Fatt and Johan Raslan have enough talent under their command, that can be ordered to cook up a definitive elucidation on why Chin Kwai Fatt had no choice but to sign a false declaration in 2008, when he said that the firm of PricewaterhouseCoopers Consulting Sdn Bhd (464379-U), at the date of the signing is able to meet its liabilities as and when they fall due, without disclosing the contingent liabilities.

If Chin Kwai Fatt and Johan Raslan cannot even defend their actions to one of their largest clients, isn't it time that they just called it quits and announce their resignation from PwC so that the work that needs to be done to undo the damage they have caused over the years can start?

"Berani bikin, berani tanggung"; any school-kid will be able to understand that, so why is it that Chin Kwai Fatt and Johan Raslan still haven't understood that the buck, in this case, really does stop with them, especially since they are the ones implicated in the fraudulent acts?

Tan Sri T. Ananda Krishnan is a man who has accomplished many great things, and it is unbecoming of Chin Kwai Fatt and Johan Raslan to be evasive when there are serious questions to be answered.

Letter from the General Counsel of Maxis, Mr Stephen Mead. Received from a Maxis insider.

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