Ex-Mara Corp CEO fails to set aside RM3.4mil order
The Malaysian Court of Appeal has upheld a ruling requiring former Mara Corporation CEO Badlisyah Abdul Ghani to pay RM3.4 million for breach of duty. The court found that he exceeded his authority by hiring staff and appointing firms without board approval.
Why it matters
This case serves as a significant example of corporate governance enforcement and accountability for executive leadership in state-linked entities.
Badlisyah Abdul Ghani was appointed Mara Corporation CEO on Sept 8, 2020 but was suspended just two months later on Nov 19 before his contract was terminated on Jan 12, 2021. (Facebook pic)
PETALING JAYA: Former Mara Corporation Sdn Bhd CEO Badlisyah Abdul Ghani has failed to set aside a court order requiring him to pay the company RM3.4 million for breach of duty during his three-month tenure.
A three-member Court of Appeal bench led by Justice Wong Kian Kheong upheld the High Court order after finding no reason to intervene in the lower court's decision.
The bench, which also comprised Justices Ahmad Kamal Shahid and Ahmad Fairuz Zainol Abidin, ordered Badlisyah to pay Mara Corporation RM50,000 in costs, Buletin TV3 reported.
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