Business, markets and economy news from Malaysia.
Malaysia's Royal Commission of Inquiry into Tabung Haji has recommended forensic audits of 14 past investments that caused substantial losses at the Islamic pilgrimage fund, citing management lapses between 2014 and 2020.
The Malaysian Islamic Dakwah Foundation has thrown its weight behind Sultan Ibrahim's directive for a rigorous, impartial examination of the Tabung Haji Royal Commission report, emphasising the need for decisive action against any wrongdoing.
Prime Minister Anwar Ibrahim has indicated the Cabinet will decide this Wednesday whether to release the Royal Commission of Inquiry report on Tabung Haji, which examined allegations surrounding the sale of the pilgrim fund's strategic assets.
Malaysia's Law Minister Azalina Othman Said has emphasized that ongoing investigations into alleged 'corporate mafia' activities must proceed independently and transparently, with all decisions grounded in facts and the rule of law.
Thirty-four parliamentarians have expressed backing for a Royal Commission of Inquiry to investigate claims of corporate mafia activities linked to MACC and former chief commissioner Tan Sri Azam Baki, including questions surrounding his shareholdings.
Any decision to establish a Royal Commission of Inquiry into alleged corporate mafia networks within the MACC will be guided by investigation findings, legal protocols and broader public interest considerations, according to government officials.