PHB CEO paid RM210k bonus while company only achieved 42% KPI

THE PAC has called for an investigation into governance practices at Pelaburan Hartanah Berhad (PHB), reported the New Straits Times.

This was after it was revealed that PHB's chief executive officer (CEO) received an RM210,000 bonus - the equivalent of three months' salary, while the company only achieved 42 per cent of its KPI.

Public Accounts Committee chairman, Datuk Mas Ermieyati Samsudin said PHB had also planned an overseas luxury holiday for employees, but the trip was swiftly cancelled after public backlash on social media.

"While offering benefits to employees can boost morale, it's troubling that such perks were withdrawn only after public scrutiny," the Masjid Tanah MP said during the debate on the 2025 Supply Bill yesterday.

"There is a need for transparency and PHB's actions also require public explanation.," she said while pointing to recent controversies involving Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) over investment losses with FashionValet.

She also raised concerns about potential conflicts of interest, disclosing that the CEO had donated RM50,000 to his former school, which raises further governance issues. - November 5, 2024