UMNO deputy president Mohamad Hasan today denied a report that the cash-strapped party has made nearly RM2 billion from the sale of shares in four public-listed companies.
“RM2 billion? Where from? God willing but it’s not true,” he said when asked to comment on the report, at the Kluang Umno division meeting in Johor, today.
Business weekly The Edge today reported that Umno had sold its shares or proxy stakes in MyEG Services Bhd, Media Prima Bhd, KUB Malaysia Bhd and Utusan Melayu (M) Bhd.
It said it was difficult to determine the true size of the shareholdings that were sold because of the party’s use of proxies and trustees.
The report said one billion MyEG shares linked to the party were sold at RM1.65 each for a total of RM1.697 billion, on July 25.
The party sold RM73.812 million worth of shares at 60 sen each in Media Prima on July 2 and RM26.125 million worth of shares in in the same company at 47 sen each on July 11.
In KUB Malaysia, Umno is said to have sold RM121.088 million worth of shares at 68 sen each on March 1, and in Utusan Melayu, RM6.65 million worth at 19 sen each on February 8.
Following its defeat in the general election in May last year, Umno’s bank accounts were frozen in June by the Malaysian Anti-Corruption Commission in connection with investigations into fraud at 1Malaysia Development Bhd.
The MACC is also suing the party to recover RM212 million that was allegedly stolen from the state investment fund. – August 3, 2019.
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