ANWAR Ibrahim reminded investors not to invest in the stock market based on rumours, after counters purportedly linked to him were traded actively on Bursa Malaysia on Friday after reports said he was to meet the king over the government’s future.

“I note with concern several listed stocks on Bursa Malaysia have seen extraordinarily active trading and gains recently on the basis that these counters are linked to me,” said the PKR president in a statement today.

Malayan United Industries Bhd (MUIIND) and Pan Malaysia Holdings Bhd became the second and third most actively traded stocks on Friday, after Anwar released a statement that the Agong will grant him an audience.

Anwar’s sister, Farizon Ibrahim, is a director of MUIIND and Pan Malaysia Holdings.

MUIIND ended unchanged at 14 sen with 390 million shares changing hands whereas Pan Malaysia gained four sen or 27.59% to 18.5 sen with 223 million shares done at market close on Friday.

The Port Dickson MP did not name any counter in the statement.

“In response, I want to stress that I have no financial interests whatsoever in these stocks. I want to take this opportunity to remind all investors to invest carefully and not to invest on rumours. It is an unfortunate reflection of the state of our economy that such rumours can move markets.

“In view of the above, I encourage Bursa Malaysia and the Securities Commission Malaysia to take appropriate actions against any individuals manipulating the market via malicious political rumours.”

At 9.53am today, MUIND was the fifth most actively traded counters on Bursa Malaysia, falling by 1.5 sen to 12.5 sen with 43.63 million shares done.

Pan Malaysia was the seventh most actively traded counter at the time of writing.

The stock fell three sen to 15.5 sen with 30.05 million shares changing hands.

Anwar is due to appear before Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah tomorrow, when he is expected to give details of the members of parliament who are now supporting him.

On September 23, Anwar held a press conference to announce he has sufficient support to back his bid to replace Muhyiddin as prime minister.

 However, he did not disclose the number of lawmakers aligned to his party. – October 12, 2020.