Aumas Resources places CEO on administrative leave as corruption case proceeds

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Aumas CEO administrative leave

Highlights

Aumas Resources has placed CEO Chong on administrative leave after he was charged with three counts of corruption involving RM18,000 between April 2024 and October 2025.
The company stressed that there are no charges against Aumas Resources or its subsidiaries, while Wullersdorf Resources' operations continue under existing management.
Monday's market close showed Aumas Resources shares unchanged at 34.5 sen, with a market capitalisation of RM628.4 million, shortly after the announcement of the 110,000-ounce Andrassy mineral resource.

This article was translated from the original. Read the original version by our correspondent here.

Charges, exchange filing and company action

As reported by The Edge Malaysia, Aumas Resources announced the move on Monday after Chong, 68, was charged with three counts of corruption, according to an exchange filing. He was charged under Section 17(b) of the Malaysian Anti-Corruption Commission Act 2009 for allegedly offering or giving a total of RM18,000 as a bribe.

According to the company, Chong pleaded not guilty to the offences allegedly committed between April 2024 and October 2025 and was granted bail. Aumas Resources said Chong voluntarily took administrative leave from his executive and management duties at the company and its wholly owned subsidiary, Wullersdorf Resources Sdn Bhd, pending the outcome of the case.

The board of directors said the administrative leave is a temporary measure and does not constitute a determination of the charges he faces. The company also stressed that no charges have been brought against Aumas Resources or any of its subsidiaries.

Operational continuity and corporate background

Wullersdorf Resources will continue its operations under its senior management, according to the company. Through Wullersdorf Resources, Aumas Resources operates the Andrassy gold project under an exclusive prospecting agreement and a work contract with the prospecting licence holder, Aurelius Borneo Mining Sdn Bhd, as well as the Bukit Mantri gold mine.

Earlier this month, Aumas Resources announced its maiden mineral resource estimate of 110,000 ounces of contained gold for the Andrassy project. At Monday's market close, Aumas Resources shares were unchanged at 34.5 sen, giving the company a market capitalisation of RM628.4 million.

Chong joined the company, then known as Bahvest Resources Bhd, as an executive director in May 2023 and was appointed CEO five days later, replacing Lo Fui Ming. He relinquished both positions in July 2025 before being reappointed on 1 May, following a period in which the company faced challenges including boardroom disputes, regulatory raids and the suspension of mining operations.

In our previous article, governance improvement recommendations by the Malaysian Anti-Corruption Commission (MACC) to Felda and two of its subsidiaries were outlined to strengthen transparency in the implementation of the Agro Park (Commercial) project and a cattle trading pilot project. The recommendations included restructuring the roles of the advisory panel, improving procurement procedures (including requests for proposals and variation orders), and strengthening internal controls, with Felda and its subsidiaries stating their commitment to implementing them in stages.

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