UBB Bank can be named in media reports, Sessions Court rules in RM139m cheating case

Thursday 01 Oct 2026

Make The Edge Malaysia your preferred source on Google

KUALA LUMPUR (Aug 19): The Sessions Court has on Wednesday denied UBB Investment Bank Ltd’s application for the media to omit publishing its name when reporting on its former chief executive officer, who was charged on Wednesday with cheating to the tune of RM139.89 million.

Razlan Raghazli has been charged on Wednesday morning with cheating a senior executive of UBB Amanah Bhd into releasing RM139.89 million to an education company through an alleged misrepresentation of legal advice.

Following the reading of the charge and Razlan's plea of not guilty, UBB’s lawyer, Johan Mohan, applied to High Court judge Azura Alwi to bar the media from naming the bank.

He told Azura that mentioning the name would cause panic among the bank’s investors.

“I humbly ask the court to make a ruling that media reports on this case not name UBB Bank in their reports. This will cause panic among investors if the bank’s name is reported and affect the stability of the bank,” Johan said.

Azura then replied that this case was a matter of public interest.

“The public has a right to know. There is no such thing; the application is denied,” she told the lawyer.

UBB Investment Bank, a Labuan-licensed investment bank, is part of UBB Amanah Group.

UBB Investment Bank has recently also courted other controversy, as during Razlan’s tenure, the bank had to fork out a RM10 million compound to Bank Negara Malaysia and the Labuan Financial Services Authority for failing to report suspicious transactions and perform adequate customer due diligence between 2023 and 2024.

UBB Investment Bank paid the full RM10 million on June 11, the central bank has said.

Edited ByAniza Damis

Text Size