24JUL2019 - NEWS - Barakah CFO resigns as struggling O&G firm under scrutiny

BARAKAH Offshore Petroleum Bhd has announced the departure of another senior officer as the oil and gas (O&G) service provider continues to face headwinds following the suspension of its licence by Petroleum Nasional Bhd (Petronas).

The loss-making company yesterday announced that its CFO Firdauz Edmin has tendered his resignation, giving a three-month notice as required by his term of employment.

Firdauz’s departure came after Barakah’s president Abdul Rahim Awang tendered his resignation last Friday.

The company said the duo’s departure were due to personal reasons without elaborating.

Abdul Rahim will be replaced by Nik Hamdan Daud, Barakah’s founder. He was the company’s former group president and CEO before resigning in April this year. He has a 15.7% stake in Barakah according to the company announcement on July 19.

Nik Hamdan, who has been in the O&G industry for 28 years, served as MD of German-owned offshore pipeline service company Pipetronix Sdn Bhd and founded Barakah’s subsidiary PBJV Group Sdn Bhd in 2000.