Saturday, June 12, 2010

Axis Inc directors lodge police report over missing records

KUALA LUMPUR: AXIS INCORPORATION BHD []'s board of directors has lodged a police report over several official documents and records belonging to Axis and its units which have gone missing.

It said on Friday, June 11 that it had on Wednesday lodged the report over the missing records of the company and its units'' Asiapin Sdn Bhd, Chongee Enterprises Sdn Bhd and GBC Marketing Pte Ltd from 2004 to 2008 at the offices in Johor Baru, Tangkak and in Singapore.

The missing records included documents in relation to the purchase of machinery sent to contract manufacturers in Cambodia and/or Vietnam;'' bank statements and cheque butts; payment vouchers and supporting documents for payments made to the contract manufacturers in Cambodia.

Also missing were documents, letters, e-mails and correspondences between Axis group and the contract manufacturers; dcuments in relation to the orders placed with the contract manufacturers by buyers; documents of raw materials bought for the contract manufacturers (ncluding purchase orders and delivery orders).

The report also claimed that documents on the account of monies received from the Bumiputera issue in 2004 and the sale of Ganad assets in 2007-2008 were missing.

"As a result of the above missing records, Axis Group of companies in 2009 had to write off substantial amount of its assets and receivables due to the lack of documentary support of these assets and receivables," it said.

The company said the present Axis Board was unable to answer certain queries posed by Bursa Malaysia Securities Bhd.

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