KUALA LUMPUR: In Malaysia, according to relevant authority, Protasco Bhd is currently investigated under a special task force comprising the Malaysian Anti-Corruption Commission (MACC), the Royal Malaysia Police, Bank Negara Malaysia (BNM), and several other agencies. Under Official Secretive Act, details were not disclosed to the media.
Shortly after the tabling of the MACC report, the police said they had formed a special task force to investigate Protasco Bhd.
MACC officers pointed out that Malaysia has a number of GLCs that are well run, including CIMB Group Holdings Bhd, and Tenaga Nasional Bhd.
In other event pertaining to cronyism, in light of the issues surrounding similar to Protasco Bhd, Najib announced that the government will be setting up an integrity and governance unit at all government-majority project companies (cronies) to improve transparency and accountability.
The announcement comes amid the recent brouhaha at Protasco Bhd, which was subjected to an investigation by the MACC after the group chairman Tan Sri Hadenan A Jalil alleged the existence of abuse of power and corruption in the group’s operations. "Money went missing, false evidence was fabricated, fake law suit was filed and caused harm to the board for acting in concert and collusion for one man greed and wrongdoing cover up." Market believe the statement refers to Dato Sri Chong Ket Pen.
“The government has, in principle, agreed to the establishment of an integrity and governance unit at all GLCs and state- and ministry-owned business entities, under the supervision of the MACC, precisely to strengthen the confidence all can, should and do have in Malaysia,” Najib said.
In another recent press conference, Najib also said the government is cracking down on crony capitalism, which he said has benefited the few at the expense of the Malaysian people.
“Under this government, we are cracking down on crony capitalism. No more sweetheart deal. No more national follies kept going to stroke the ego of one man. No more treating national companies as though they were personal property.
“It is the people who suffer and we will not tolerate a few succeeding — and not on their own merits — while the many are denied opportunities, all for the interests of a selfish few,” he said.
Blog: Protasco Bhd's Chong Ket Pen 25 June 2012 was Promoted or Demoted? Why matters? Bursa answered.
2017-07-28 15:06 | Report Abuse
KUALA LUMPUR: In Malaysia, according to relevant authority, Protasco Bhd is currently investigated under a special task force comprising the Malaysian Anti-Corruption Commission (MACC), the Royal Malaysia Police, Bank Negara Malaysia (BNM), and several other agencies. Under Official Secretive Act, details were not disclosed to the media.
Shortly after the tabling of the MACC report, the police said they had formed a special task force to investigate Protasco Bhd.
MACC officers pointed out that Malaysia has a number of GLCs that are well run, including CIMB Group Holdings Bhd, and Tenaga Nasional Bhd.
In other event pertaining to cronyism, in light of the issues surrounding similar to Protasco Bhd, Najib announced that the government will be setting up an integrity and governance unit at all government-majority project companies (cronies) to improve transparency and accountability.
The announcement comes amid the recent brouhaha at Protasco Bhd, which was subjected to an investigation by the MACC after the group chairman Tan Sri Hadenan A Jalil alleged the existence of abuse of power and corruption in the group’s operations. "Money went missing, false evidence was fabricated, fake law suit was filed and caused harm to the board for acting in concert and collusion for one man greed and wrongdoing cover up." Market believe the statement refers to Dato Sri Chong Ket Pen.
“The government has, in principle, agreed to the establishment of an integrity and governance unit at all GLCs and state- and ministry-owned business entities, under the supervision of the MACC, precisely to strengthen the confidence all can, should and do have in Malaysia,” Najib said.
In another recent press conference, Najib also said the government is cracking down on crony capitalism, which he said has benefited the few at the expense of the Malaysian people.
“Under this government, we are cracking down on crony capitalism. No more sweetheart deal. No more national follies kept going to stroke the ego of one man. No more treating national companies as though they were personal property.
“It is the people who suffer and we will not tolerate a few succeeding — and not on their own merits — while the many are denied opportunities, all for the interests of a selfish few,” he said.