Ambank shareholders pay price of ‘rushed’ 1MDB settlement, says activist


Ambank Group is paying RM2.83 billion to settle all outstanding claims and actions in relation to its involvement in the 1MDB scandal, on top of a RM53.7 million penalty imposed by Bank Negara. – EPA pic, March 13, 2021.

AMMB Holdings Bhd’s settlement with the Finance Ministry over the bank’s role in the 1MDB scandal appeared to be a rushed deal that let the wrongdoers off scot-free, said a corporate governance advocate.

Lya Rahman told Focus Malaysia the settlement deal seemed to be “a last-minute decision” that would negatively affect the bank’s minority shareholders.


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Comments


  • Those insiders should be taken to the court..
    Something fishy when these seven employees disposed shares about 2 - 3 days between each others.. Especially those that disposed on 29th Dec 2020...it easy to prove what they knew before that...

    Posted 1 year ago by Against Corruption