The Malaysian Anti-Corruption Commission is investigating whether there are irregularities in Telekom Malaysia’s 2014 acquisition of wireless services company Packet One Networks .
The government-linked company bought a 57% stake in the wireless broadband service provider for RM350 million with a further RM210 million capital injection via newly issued redeemable bonds. TM currently owns 72.9% of the wireless operator whose brand name had several changes from P1, to “webe”, and now to “UniFi”., citing three sources, today reported that MACC officers visited TM on June 13 over the P1 acquisition.
TM had confirmed the visit by MACC officers to the company’s headquarters, stressing in an email reply that the visit was to “seek certain information”.said a few individuals are being probed over the half-billion ringgit deal for possible irregularities.Did you like this article?
go for jugular... too much irregularities in GLCs
SPRMMalaysia Didnt know MACC probes corporate M&A In that case you definitely want to look into RHB purchase of OSK. Ong Leong Huat jadi chairman invsmnt bank. Menantu jadi Ceo. Anak pompuan ceo rhbassetmgmt. Rhb yg beli tapi dia pula jadi boss bawak masuk anak beranak🤦♀️