Sacked STX Boss Fights Back

Mr. B.K. Asamoah says the baordroom decision is null and void.

Posted on: www.dailyguideghana.com

By William Yaw Owusu

Saturday July 20, 2011
The beleaguered CEO of STX Engineering and Construction Ghana Limited, Bernard Kwabena Asamoah is fighting back barely 24 hours after the company’s board of directors said they have dismissed him as the chief executive officer.
B.K. Asamoah said the Koreans were not in a position to fire him because they had exited from the company long ago.

The board room wrangling which has taken a better part of the deal since Ghana government committed itself into the agreement with STX Korea to build 200,000 housing units in the country took a nasty turn on Thursday when the Koreans sacked B.K. Asamoah as the front man for the company was dismissed but he insists the decision is null and void.

A press release issued in Accra and signed by Mr Asamoah said “any actions taken by STX Construction (Korea) or its agents in respect of the operations of STX Engineering and Construction Limited are of no consequence.”

According to Mr. Asamoah, site works for the Affordable Housing Scheme under The Ghana National Housing Programme commenced as promised in July 2011 under the direction of STX Engineering and Construction Limited and with the support of the Government of Ghana.

“It is important to note that funding arrangements for the execution have been secured by management in addition to US technology that will ensure rapid and effective implementation within the terms approved by Parliament”, he said.

The CEO said “regarding media stories about STX Engineering and Construction Limited yesterday in which employees of our former partners STX Construction (Korea) yesterday (Thursday) reportedly announced Board resolutions in respect of STX Engineering and Construction Limited, the management of STX Engineering and Construction Limited wishes to state that “STX Construction (Korea) is no longer an equity partner in STX Engineering and Construction Limited which STX Construction (Korea) exited in May 2011.”

“STX Construction (Korea) therefore has no locus in STX Engineering and Construction Limited and consequently, no basis for any actions in respect of STX Engineering and Construction Limited adding “these facts can be verified via the public records of the Registrar General’s Department.”

Mr. Asamoah said “the management wishes to apologise to all the project stakeholders for the unruly conduct of STX Construction (Korea) in disregard or the advice offered by the Government and to thank The Minister, Water Resources, Works and Housing and His Excellency, The President of the Republic who have graciously and unreservedly supported STX Engineering and Construction Limited.”