Khaw Boon Wan on AHPETC: In the good old days, Japanese CEO & board of directors committed suicide over mismanagement
Khaw Boon Wan: “The Auditor General’s findings confirm that something is very wrong at the AHPETC. They paint a picture of financial mismanagement, incompetence, and negligence in corporate governance. If an auditor makes such a finding on a listed company, it would immediately cause consternation among the shareholders and a call for the removal of the CEO and the board of directors.”
“In Japan, the CEO and board of directors will call a press conference and take a deep bow, and in the good old days, they may even commit hara-kiri. Where there are breaches of the Companies Act, both the company as well as the individuals responsible will be charged, and if found guilty, punished with fines and/or jail terms for the individuals.”