BAKRI MP Tan Hong Pin has urged the government and regulatory authorities to ensure transparency in the stock market, stressing that hundreds of thousands of ordinary investors could be affected.
Speaking in the Dewan Rakyat during the Third Meeting of the Fourth Session of the 15th Parliament today, he highlighted the recent privatisation proposal of Genting Malaysia Berhad (GENM) by its parent company at RM2.35 per share.
“I would like to emphasise that I do not intend to accuse any party or tarnish the company’s reputation, but on the basis of transparency, accountability, and moral responsibility, we must defend the interests of public investors — particularly small and medium investors who use their savings to invest in the stock market,” he said.
Tan noted that the original purpose of the stock market is to provide efficient financing channels for businesses while offering citizens the opportunity to share in corporate growth through dividends and share appreciation.
“The stock market should be a symbol of confidence in the national economy, not a playground to deceive small investors for the benefit of a privileged few,” he added.
According to market data, GENM shares reached a one-year high of RM2.48 on 18 February 2025 before plunging to RM1.46 on 9 April 2025, a 42% drop within seven weeks.
Prices then slowly recovered to RM2.14 on 10 October, before trading was suspended three days later, ahead of the privatization announcement at RM2.35.
“This pattern raises questions about potentially suspicious trading activity or insider information use, which warrants investigation by the Securities Commission Malaysia (SC),” he said.
He added that many shareholders purchased at RM3.00 per share or higher, with some holding shares at historic highs above RM6.00.
Tan called on the Ministry of Finance and the SC to provide a detailed breakdown of shareholders by price range, from lowest to highest, along with the total value held, so the impact on public investors can be assessed transparently and fairly.
“Malaysia’s stock market is not a place to deceive the public. If phenomena like this are left unchecked, investor confidence will erode, capital will leave, and the national economy will suffer. Therefore, I urge the government and regulators to act decisively — to investigate, rectify, and ensure fairness,” he said.
He emphasised that confidence in Malaysia’s stock market must be based upon transparency, fairness, and accountability.
“I request that the Minister of Finance and the Securities Commission provide a comprehensive explanation, including monitoring measures and protections for minority investors, to ensure the integrity of the country’s capital market is preserved. Market integrity must be protected.
“The public’s confidence in the national financial system is our collective responsibility.”
In response, Deputy Finance Minister Lim Hui Ying acknowledged the concerns raised and reaffirmed the government’s commitment to a fair, transparent, and orderly capital market that safeguards ordinary investors.
The SC confirmed it continues to ensure listed companies meet disclosure obligations and protect investors against market misconduct.
SC explained that under Bursa Malaysia Listing Requirements, listed companies must disclose material information accurately and timely, while periodic financial reporting and adherence to the Capital Markets and Services Act 2007 are enforced.
The Commission also monitors trading activity and investigates irregularities, including potential market manipulation and insider trading.
Regarding GENM’s price volatility, SC and the Ministry cited the company’s financial announcements and external factors such as global market reactions, including US tariff announcements by former President Donald Trump.
The temporary trading suspension on 13 October followed GENM’s request to Bursa Malaysia to allow proper dissemination of official privatization information.
“If any trading misconduct, including insider trading, is detected and proven, appropriate action will be taken,” SC stated. - November 5, 2025
