Meanwhile, executive chairman Tai Boon Wee, who had been remanded by MACC recently, has been redesignated as the group’s CEO, according to GIIB’s filing with Bursa Malaysia today.

Wan Adnan served as the MP for Indera Mahkota from 2004 to 2008, and as the state assemblyman for Tanjung Lumpur, Pahang from 2008 until 2013.

He is currently the independent non-executive chairman of Infraharta Holdings Bhd, and an independent director of Magna Prima Bhd and PUC Bhd.

Previously, he held positions as a board member of KNM Group Bhd from 2015 to 2018, chairman of MMN Bina Sdn Bhd from 2013 to 2015, and a board member of Inno Biologic Sdn Bhd from 2005 to 2012.

Wan Adnan holds a bachelor’s degree in business administration from the University of Kyoto, Japan.

Reshuffle amid MACC probe

The leadership reshuffling took place following MACC’s recent investigations on several of GIIB’s board members.

In a June 15 local bourse filing, GIIB disclosed that Boon Wee and the group’s two other executive directors – Boon Wee’s son Tai Qiyao and Wong Ping Kong – were remanded by MACC on May 31 to assist in investigations of unlawful activities.

The activities being investigated are in relation to issuance of invoice and proceeds banked into GIIB’s account, inflation of debts of a subsidiary company in a Bursa Malaysia announcement, and unauthorised payments to persons unknown, according to the filing.

However, in a filing yesterday, GIIB announced that all the three remanded directors were released by MACC on June 2.

The group further stated that it has obtained legal opinion and has requested its external auditors to review subsidiary company GIIB Healthcare Products Sdn Bhd’s liability in order to address the allegations.

GIIB maintained that the investigation did not result in any financial or operational consequences for the company.