KUALA LUMPUR (June 9): Glove maker WRP Asia Pacific Sdn Bhd today confirmed that it has received a visit from the Malaysian Anti-Corruption Commission (MACC) as part of an investigation into the alleged misappropriation of funds by its former chief executive officer Datuk Lee Son Hong.

This follows WRP’s legal action initiated against Lee this year, on claims that he had mismanaged the company and had refused to account to the board of directors (BoD) as to the company’s state of affairs. It further accused Lee of conspiring to wind up the company.

Lee had disputed the claims made against him.

“While a raid by MACC is not something that any company wants, for us at WRP it means another step forward to holding the previous management accountable for their actions. It gives us renewed hope that those who jeopardised the company’s finances and credibility for personal gain, will be taken to task and be held answerable for all the instability they have caused,” WRP’s legal counsel Thomas Philip Advocates and Solicitors wrote in a statement today, issued on behalf of the company.

It said as part of the new BoD's efforts to turn the company around and restore accountability to WRP, it had on March 5 appointed Tan Sri Musa Hassan, the former Inspector-General of Police, as an advisor on regulatory compliance and security, specifically to ensure adherence to Malaysia’s regulatory requirements.

“The new BoD is more than willing to cooperate and be of any assistance in these ongoing investigations. We are grateful we have Tan Sri Musa on board as our advisor so WRP can step up and comply with all regulatory requirements. We look forward to the outcomes of the investigations and are confident it will be conducted thoroughly,” the statement read.

According to the statement, the BoD had “uncovered substantial legacy issues” within the company with the assistance of forensic auditors, after gaining possession of the company in January this year.

Apart from misappropriation of WRP’s funds, the BoD said there were also discrepancies relating to regulatory compliance in the employment of workers, which are expected to require extensive investigation and remedial measures.