Malaysia

PAC may summon Loke over RM500 million MAHB share loss

Loke, along with other individuals, will be called to testify in phased proceedings set to begin in the second week of this month.

Updated 1 year ago · Published on 01 Feb 2025 11:07AM

PAC may summon Loke over RM500 million MAHB share loss
MCA also called on the government to investigate the share sale, which left EPF with only a five per cent stake in MAHB.- February 1, 2025

TRANSPORT Minister Anthony Loke may be among those summoned by the Public Accounts Committee over allegations of an RM500 million loss in the Employees Provident Fund's (EPF) share transactions involving Malaysia Airports Holdings Bhd (MAHB).

According to reports in The New Straits Times, PAC chairman Datuk Mas Ermieyati Samsudin said Loke, along with other individuals, will be called to testify in phased proceedings set to begin in the second week of this month.

"We previously summoned MAHB to discuss several matters. For public airport management, PAC has already outlined the terms of reference for proceedings covering all issues, including MAHB's delisting from Bursa Malaysia's Main Market under the consortium Gateway Development Alliance Sdn Bhd (GDA) led by Khazanah Nasional Bhd, as well as concerns over high ticket prices and delays in Aerotrain installation.

"We have listed several parties to be called, and, God willing, we expect to start proceedings in the second week of this month. 

"I do not rule out summoning the transport minister, given the issues surrounding the aerotrain services. It is important to obtain his response and testimony," she said after attending the launch of Bersatu women's wing Srikandi's Melaka Service Centre, officiated by Bersatu president Tan Sri Muhyiddin Yassin in Taman Tambak Paya Harmoni, Ayer Molek, last night.

Also present were Bersatu secretary-general Datuk Seri Mohamed Azmin Ali and Bersatu Melaka chairman Tan Sri Rahim Tamby Chik.

Previously, several non-governmental organisations (NGOs) and political parties had asked EPF to clarify its sale of MAHB shares in January 2023 at around RM6.74 per unit before repurchasing them at RM11 per unit as part of MAHB's privatisation exercise.

MCA also called on the government to investigate the share sale, which left EPF with only a five per cent stake in MAHB.

Mas Ermieyati, who is also the Masjid Tanah MP, said that during the First Meeting of the Fourth Session of the 15th Parliament from Monday until March 6, PAC has scheduled about 45 meetings, including five new proceedings. - February 1, 2025

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