This article first appeared in The Edge Malaysia Weekly on June 4, 2024 - June 10, 2024

It appears something intriguing is brewing at Sentoria Group Bhd (KL:SNTORIA), which has suspended its group CEO Datuk Loh Yuen Tuck from his duties as the group investigates his alleged misconduct.

The company has accused Loh, who was appointed to the post just four months ago in January, of being absent from office without notice since May 17, and for allegedly abusing his position or authority as well as engaging in other misrepresentation and irregularities.

Sentoria announced the three-month suspension that took immediate effect. The suspension period could vary, depending on the final recommendation by an external inquiry team that the company will appoint “soonest possible” to ascertain the areas and seriousness of Loh’s alleged misconduct, and to recommend solutions.

During the suspension, Loh’s duties and responsibilities will be taken over by the group’s joint managing directors and co-founders, Datuk Chan Kong San and Gan Kim Leong. The duo controls a 35.79% stake via Sentoria Capital Sdn Bhd.

It is curious as to what could have happened in four short months that have warranted such serious accusations from Sentoria. If the accusations are true, it raises the question as to how Sentoria chose its group CEO to begin with, and what due diligence was done, if at all, in its candidate selection.

In addition, the company announced the resignations of two independent non-executive directors as well as non-executive chairman Datuk Ras Adiba Mohd Radzi — all citing personal reasons or other commitments.

It also named two people to the board, including Gan Boon Koo @ Gan Boon Kiu, who was reappointed as an independent director. Gan first joined the board in March last year but stepped down four months later in July.

On Jan 8, two other independent non-executive directors resigned — less than two months after their appointments on Nov 20, 2023 — also citing personal or other commitments.

The situation begs the question: What is up with Sentoria’s revolving boardroom door?

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