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Flight Of Fund

1.0 INTRODUCTION In 2010, Mr. Idris was hired as the Chief Operation Executive (CEO) of Travel Investment Holdings Berhad (TIH), a government linked company (GLC) in logistics and travel related business. The first task as the CEO of TIH was to identify solutions to recover the losses of the company due to the economic crisis in 2009. In order to diagnosis the problem, Mr. Idris called for a meeting among senior managements. He found out that there was no-result investment made by one of the subsidiaries, Malaysian Travels Sdn Bhd (MTSB). In 2006, MTSB had a joint ventures with Turkistan Global Services Sdn Bhd (TGS) to form a new entity, Malaysian Turkistan Travel Sdn Bhd (MTT), in the purpose of…