DSI former CEO denies owing firm AED 1bn

Mubasher: The former CEO of Drake & Scull International (DSI), Khaldoun Al Tabari, has denied news claiming that he owes the contractor a sum of money, Construction Week Online reported.

Earlier this week, Bloomberg reported that Al Tabari and his daughter owed up to $272.3 million or AED 1 billion to the Dubai Financial Market (DFM)-listed DSI.

In a media statement, DSI’s former CEO said, “I categorically deny that any claims have been made against me. No such claims have been made, nor am I aware of the nature of any alleged 'violations'.”

Al Tabari stated that he and his daughter “acted at all times in accordance with all legal, regulatory and governance obligations, and in the interests of the company, its employees and its shareholders.”

“Any attempt to discredit or defame us will be taken seriously and is likely to have legal consequence,” he added, as reported by Construction Week Online.

He clarified that he was “given no opportunity to respond to the supposed internal investigation by DSI.”

It is noteworthy that DSI’s former CEO had stepped down in October 2016.

Mubasher Contribution Time: 12-Jul-2018 09:59 (GMT)
Mubasher Last Update Time: 12-Jul-2018 10:16 (GMT)

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