MALAYSIA DISTURBED OVER SATYAM FIASCO

CHENNAI, Jan 10 (Bernama) -- Malaysia has expressed concern over Indian computer giant Satyam's financial fraud issue, as it could affect its worldwide operations, including that in Malaysia.

Satyam Computer Services,a software outsourcing firm, has a sizeable number
of workers in Cyberjaya.

"Things are just unfolding, the company is unsettled and unable to give a
clear picture on its direction but its current status is definitely an issue.

"We are concerned of the subsequent direction of the company as it will
affect its presence in Malaysia," Human Resources Minister Dr S. Subramaniam
told Malaysian reporters on the sidelines of the 7th Pravasi Bharatiya Divas
conference which ended here Friday.

Satyam, India's fourth largest software company, built single-handedly by
entrepreneur B. Ramalinga Raju, plunged into a financial quagmire last week,
after he confessed to fudging figures to the tune of Rs7,000 crores (US$969.8
million) over the last five years.

In a dramatic move on Friday night, Ramalinga and his brother B. Rama Raju,
were arrested by police for the multi-million dollar scam. It is also the worst
financial scandal to hit India.

"When I get back to Malaysia, I will discuss with Satyam there to see
whether they have any instructions on the future direction of the company.

"But we will definitely take up the issue seriously to ensure that the
company's customers in Malaysia and the welfare of the workforce is taken into
consideration," said Subramaniam.
--BERNAMA