Bung Moktar said then-finance minister recommended RM150m Felcra investment, witness tells court | Malay Mail

Monday, 16 Mar 2020 09:28 PM MYT

Habibah Suleiman, 72, said she did not know that the amount of investment sought was RM150 million as the sum approved at the board meeting was only RM50 million.“The board did ask YB Datuk Bung Moktar about the difference in amount that was invested in the Public Mutual Trust Fund. YB Bung had stated that he took along a Felcra application letter to meet the finance minister for his approval. YB Bung told the board that the finance minister recommended to him to invest RM150 million.

“Other details also stated that the board of directors had to ensure that Felcra Berhad continuously monitored the investment’s performance so that early risk mitigation can be carried out in the event of any clear decline in the equity market,” she said. Lawyers M. Athimulan and Datuk K. Kumaraendran are representing Bung Moktar and Zizie Ezette respectively.

The offence was allegedly committed at Public Bank Berhad, Taman Melawati Branch, No. 262-265, Jalan Bandar 12, Taman Melawati here, between 12.30 pm and 5pm, on June 12, 2015.

Love the featured image.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Minister caused Felcra investment to go up to RM150mil, court toldHaibah Suleiman says board was told by Bung Moktar Radin the recommendation came from the finance ministry. FMTNews BungMokhtar Felcra 150 mil ... to wife's unit trust account. The audacity of this guy is beyond me and beyond millions of Malaysians. But there are millions of other Malaysians that support UMNO the party which he is in and would support him if he was a minister, just because he's..a Muslim.
Source: fmtoday - 🏆 5. / 72 Read more »

Then Finance Minister recommended Felcra to invest RM150m in unit trustA former board member testifies today that this was despite its board initially only approving investment of RM50 million. Haha. The finance minister is also the bugis pirate. 3% commission Half-half
Source: malaysiakini - 🏆 20. / 51 Read more »

Witness: Bung said RM150 million investment was MOF's ideaKUALA LUMPUR: Felcra Bhd former non-executive chairman Datuk Seri Bung Moktar Radin had informed the board of directors that the then Finance Minister had recommended a RM150 million investment in Public Mutual unit trust products in 2015.
Source: NST_Online - 🏆 17. / 53 Read more »