The Board of Directors (the "Board" or "Directors") of Kinergy refers to media reports published earlier on the remand and subsequent release of Dato' Seri Nazir Hussin Bin Akhtar Hussin, an Executive Director of the Company ("the Affected Director"), who was reported to have assisted on investigations by the authorities.
The Company has no details of the nature or status of the investigations and has not been contacted by any authority in respect of the Affected Director. As at the date of this announcement, the Board has not been made aware of any findings or determination of wrongdoing arising from the investigations. The Board will remain impartial and will draw no conclusions until verified information is available.
As an administrative and precautionary measure, the Board wishes to inform that the Affected Director has agreed to go on garden leave with effect from 8 October 2026, relieving him of his executive duties and responsibilities.
The Board would like to inform the above decision is not a disciplinary action and carries no implication of wrongdoing. During this period, he will not be involved in the Group's operations and will not participate in any Board deliberations on the matter. The Board, led by its independent directors will oversee the arrangement, in line with good governance practice and Bursa Malaysia Securities Berhad's requirements.
The Board wishes to affirm that Kinergy's day-to-day operations shall continue without interruption under the leadership of Dato' Dr. Lai Keng Onn, the Executive Deputy Chairman cum Group Managing Director and his senior management team. Contracts, partnerships and customer commitments remain in force.
This announcement is dated 9 October 2026.
