Source : Prime Minister's Office
KUALA LUMPUR, 20 October – Prime Minister Datuk Seri Anwar Ibrahim has warned that Malaysia must not return to an era of weak governance, when political power was allegedly abused not only to pressure opponents but also to decide who could prosper in business and who would be shut out.
In a post on X on Tuesday afternoon, accompanied by a video clip, Anwar said: “We do not want to return to an era of weak national governance, when power was abused not only to pressure political opponents, but also to determine who was given room to progress and who was blocked from succeeding in the business world.”
“Past experience must serve as a lesson, when the line between political power, business interests and personal interests became increasingly blurred, so that those close to the circles of power enjoyed advantages while others were forced to compete on an uneven playing field,” he wrote.
“The question goes far beyond political rivalry, because what is at stake is justice, integrity and the people’s trust, as well as the principle that power must be used to ensure the well-being of all the people, not to preserve the interests and wealth of a select few,” the Prime Minister added. The post can be viewed at https://x.com/anwaribrahim/status/2112454209186509031.
The post followed Anwar’s reply in the Dewan Rakyat earlier on Tuesday to Datuk Seri Aminuddin Harun (PH–Port Dickson), who had asked for an update on alleged “corporate mafia” activities and the enforcement action taken. According to the verbatim transcript published by the Prime Minister’s Office, Anwar described the issue as one of governance and asset management affecting not only the government but also the corporate and private sectors, covering takeovers of companies listed on Bursa Malaysia, share market manipulation, breaches of corporate disclosure and illegal moneylending involving intimidation.
“We inherited a system that lacked transparency,” he told the House, as reported by Bernama and Malay Mail. He cited Multi-Purpose Holdings Bhd (MPHB), which he said was forced to be sold to a group led by Datuk Seri Akbar Khan, and alleged that the deal was linked to a former finance minister “who had considerable influence and financial resources”.
Anwar also pointed to RHB Bank, which he said had been successfully run by Tan Sri Rashid Hussain before he was forced to relinquish his stake, with subsequent owners also linked to the former finance minister. He further alleged that Phileo Allied Bank, then among the fastest-growing banks, was let go during a government-directed banking consolidation because of the former minister’s interests in Langkah Bahagia Sdn Bhd, which later took a stake in it. He said he was not giving full details, but that these experiences showed why Bank Negara Malaysia, the Securities Commission (SC), the Malaysian Anti-Corruption Commission (MACC) and the police must act transparently and accountably.
On enforcement, Anwar told Parliament that action against corporate crime had risen two to three times since 2023. According to the PMO transcript, the SC has since brought 239 criminal charges, compared with far smaller numbers in previous years, and reopened investigations linked to Serba Dinamik and Sarawak Consolidated Industries Bhd after charges in the Serba Dinamik case were withdrawn in May 2022. He also said police anti-money laundering investigators had investigated 70 individuals under Op Viking, freezing and seizing assets including 417 Central Depository System accounts, 70 share trading accounts worth RM323.59 million and 404 bank accounts holding RM85.62 million.
During the same session, Anwar said he had asked Attorney-General Tan Sri Mohd Dusuki Mokhtar to lead a special task force involving the MACC, the police, Bank Negara Malaysia, the SC, the Inland Revenue Board and anti-money laundering investigators, with a full report to be completed within three months and made public, as reported by the New Straits Times and Sinar Harian. “If there is evidence, disclose it, regardless of who is involved,” he said, adding that no one would be protected, including members of his own party, PKR.
Anwar also dismissed a claim that a minister had received RM9.5 million in connection with the matter, describing it to the Dewan Rakyat as a political allegation not supported by evidence, The Star reported. He said the minister concerned had denied the claim and taken the matter to court, and that no one should be judged before investigations were completed.
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