PAC summons Amir Hamzah over sale of shares, privatisation of MAHB
PETALING JAYA : The Public Accounts Committee has summoned finance minister II Amir Hamzah Azizan to provide testimony regarding the sale of shares and privatisation of Malaysia Airports Holdings Bhd tomorrow.
Its chairman, Mas Ermieyati Samsudin, said Amir Hamzah is being summoned as part of the PAC's proceedings related to the management of public airports, in which the committee has conducted six proceedings over the past week.
Among the witnesses were former MAHB CEO Raja Azmi Raja Nazuddin, Hong Leong Investment Bank Bhd CEO Lee Jim Leng, and Retirement Fund Inc (KWAP) CEO Nik Amlizan Mohamed.
Permodalan Nasional Bhd president and group CEO Abdul Rahman Ahmad, Bursa Malaysia CEO Fad'l Mohamed, and Securities Commission Malaysia executive director Zain Azhari Mazlan – representing SC chairman Faiz Azmi – were also called.
Among the witnesses called last month were former EPF chairman Ahmad Badri Zahir, EPF chief investment officer Rohaya Yusof, Khazanah board member Goh Ching Yin, and Khazanah Nasional executive director Wong Shu Hsien.
Mas Ermieyati said the PAC has now conducted 14 proceedings on the issue of public airport management and will table its report after receiving testimony from all the relevant stakeholders.
Last December, she had announced that the PAC would start an inquiry into airport management involving MAHB, the finance ministry, and Khazanah.
The PAC was previously called on to probe the privatisation of MAHB, in particular the rationale of selling 30% of MAHB's shares to the Abu Dhabi Investment Authority (Adia) and Global Infrastructure Partners (GIP).
Global investment firm BlackRock, which allegedly has connections with Israel and its military, completed its acquisition of GIP in October.
GIP and Adia are taking up a 30% stake in MAHB through a consortium led by Khazanah. The rest will be owned by Khazanah (40%) and EPF (30%).
Critics of the MAHB privatisation deal have claimed that EPF lost RM500 million in stock trading from buying back MAHB shares at higher prices after selling them at lower rates.
Mas Ermieyati previously said PAC's inquiry into MAHB would not be limited to its privatisation deal, but would include issues related to the management of public airports, including the hike in airfares to Sabah and Sarawak, and the delayed reinstallation of the aerotrain service at KLIA.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
28 minutes ago
- Malay Mail
SC's next capital market roadmap to power up green investments, align with 13MP, NETR
KUALA LUMPUR, July 28 — The Securities Commission Malaysia's (SC) upcoming Capital Market Masterplan 4 (CMP4) will align with current national priorities, including the 13th Malaysia Plan, the National Energy Transition Roadmap (NETR) and other government economic initiatives. SC chairman Datuk Mohammad Faiz Azmi said this will give momentum to capital mobilisation for transition, adaptation and climate resilience financing. 'We hope to increase the amount of green investments to support our energy transition and to help prepare for a hotter future,' he said in his welcoming address at the Eco-Business Conference 2025 today. Mohammad Faiz had previously highlighted that this year, the SC will begin the process of shaping views and insights over the long term, including vision and objectives, in developing CMP4, which succeeds CMP3 (2021-2025). At the same event, he said the National Sustainability Reporting Framework (NSRF) was launched in September 2024 to ensure consistent and comparable sustainability reporting by corporate Malaysia and to align with the IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB). 'Our efforts have already earned Malaysia international recognition by the IFRS Foundation for being one of the first adopters of the ISSB standards in Asean. 'This year marks the first phase of NSRF implementation involving large Main Market issuers above RM2 billion in market capitalisation — some 130 companies — and we will see the fruits of their work next year when the annual reports are finalised for 2025,' he added. — Bernama
Malay Mail
28 minutes ago
- Malay Mail
No more dropping out: Govt tables Bill to make secondary school compulsory
KUALA LUMPUR, July 28 — The Education (Amendment) Bill 2025, which seeks to make secondary education compulsory, was tabled for first reading in the Dewan Rakyat today. Deputy Education Minister Wong Kah Woh, when tabling the Bill, said the second reading is expected to take place during the current parliamentary sitting. The Bill seeks to amend Section 2 of the Education Act 1996 (Act 550) to substitute the definition of 'compulsory education' to include secondary education. It also proposes a new Section 32A, which provides that every parent whose child is a Malaysian citizen and resides in Malaysia must ensure the child is enrolled in a secondary education institution and remains in school throughout the secondary education period. Failure to comply with this requirement may result in a fine of up to RM5,000 or imprisonment for up to six months, or both, upon conviction. The Bill also states that the proposed amendments will involve additional government expenditure, the amount of which has yet to be determined. — Bernama
Malay Mail
28 minutes ago
- Malay Mail
First offence: Loke says Maxim, InDrive given chance to fix compliance issues
ALOR SETAR, July 28 — The Ministry of Transport (MOT) has issued a stern warning to e-hailing operators, Aist Malaysia Sdn Bhd (Maxim) and ID Applications Sdn Bhd (InDrive), to comply with all service requirements to operate in the country, including the mandatory E-Hailing Vehicle Permit (EVP), or risk having their licences suspended or revoked. Minister Anthony Loke said both companies are currently under a three-month monitoring period, during which they are expected to demonstrate full compliance. 'Any operator facing enforcement action has the right to appeal to the MOT, and both companies have done so. 'We've outlined the corrective actions they must take, and we've observed that they've begun making improvements. As this is their first offence, we are giving them the opportunity to rectify the issues. 'However, if they continue to violate the conditions, their licences may be suspended or cancelled,' he told reporters after launching the Kota Setar service in Kota Setar today. Loke acknowledged that the offences committed by the two companies, primarily operating without EVP compliance, were serious. However, he said the ministry also took into account the potential impact on drivers and passengers who rely on both platforms. 'If we were to shut them down immediately without giving a chance for improvement, we'd be facing backlash from affected users. As with any decision, there will always be differing opinions,' he added. On April 24, the Land Public Transport Agency (APAD) issued a Notice of Licence Revocation to both Maxim and InDrive, with effect from July 24, after an audit revealed major compliance failures, particularly related to EVP requirements. Following this, both companies submitted appeals to the MOT, which accepted and granted them a three-month probationary period starting July 24 to fully adhere to service conditions, failing which would result in regulatory action, with no further leniency. — Bernama
