KUALA LUMPUR: A lack of transparency in the management of government and corporate affairs over several decades is believed to be among the factors contributing to corporate crime, Prime Minister Datuk Seri Anwar Ibrahim said.
He said such practices included stock market manipulation, governance violations and fraud, stressing that tackling these activities required greater transparency and effective enforcement, particularly in regulating companies listed on Bursa Malaysia.
During the Prime Minister’s Question Time in the Dewan Rakyat, Anwar cited past cases involving Multi-Purpose Holdings Bhd (MPHB), RHB Bank and BSN Commercial Bank as examples of corporate takeovers and ownership changes that raised questions about the interests of certain parties.
“We inherited a system that lacked transparency. Members of Parliament who have followed developments since the 1980s and 1990s know how several major companies, including MPHB, were forced to sell assets and taken over by certain parties before being sold again by parties led by Tan Sri Wan Azmi and Chan Chin Chew,” he said.
Anwar said these cases involved major financial disputes that were not commonly viewed as corporate crimes at the time.
He also referred to RHB Bank, which was developed by Tan Sri Rashid Hussain before he was compelled to relinquish his stake in the institution.
Anwar further highlighted BSN Commercial Bank in the context of banking sector consolidation, which raised questions about the interests of certain parties.
Responding to Datuk Seri Aminuddin Harun (PH-Port Dickson), who sought an update on alleged corporate mafia activities and enforcement measures, Anwar stressed that the lessons from past decades underscored the need for stronger accountability.
He said agencies such as the Companies Commission of Malaysia (SSM), Malaysian Anti-Corruption Commission (MACC) and Royal Malaysia Police (PDRM) must carry out their responsibilities transparently and accountably.
-AWANI
