KUALA LUMPUR (May 4): National chairman of the Democratic Action Party (DAP) Gobind Singh Deo has urged the Royal Malaysian Police to update the status of investigations into alleged “corporate mafia” activities linked to officials from the Malaysian Anti-Corruption Commission (MACC).
Gobind, who is also minister of digital, said Inspector General of Police Datuk Seri Mohd Khalid Ismail should clarify whether individuals named in the reports have been questioned and outline the subsequent steps to be taken.
He stressed that the probe must be exhaustive, covering all individuals, entities and MACC officers implicated in the complaints.
"It is going to be about two months since the Cabinet expressed concern and called for a full investigation. Transparency is paramount," said Gobind in a DAP social media post.
“This is a matter of significant public interest, as the integrity of our markets and national institutions is at stake. Such serious allegations cannot be left unchecked and must be resolved strictly in accordance with the law,” he stressed.
As the probe was not limited to the police, Gobind called on the Securities Commission Malaysia (SC) to disclose what actions it has taken to address the matter. He said the regulator should assess whether there were elements of market manipulation, including coercion or forced share transfers, which fall within its jurisdiction.
“They must tell us if they have looked at this aspect of the case and whether any action will be taken against anyone who is found to have committed offences or abetted any offences in the matter, and if so, when,” he added.
The “corporate mafia” allegations surfaced in a Bloomberg article titled “Who’s Watching Malaysia’s Anti-Corruption Watchdog?” published on Feb 12, which raised concerns over allegations of MACC officials’ involvement in forced takeovers of companies listed on Bursa Malaysia, in collusion with several corporate figures.
The report alleged that executives and shareholders were pressured through intimidation to resign or sell their shares at heavily discounted prices to a group of connected businessmen.
The MACC and its then chief commissioner Tan Sri Azam Baki have denied the allegations.
Two weeks ago, SC chairman Datuk Mohammad Faiz Azmi said the regulator cannot act on such allegations if they fall outside securities laws, noting that many reported issues in the media involve criminal offences such as intimidation and extortion rather than market breaches.