KUALA LUMPUR – Augustus Ralph Marshall, a once trusted aide of tycoon Tan Sri T. Ananda Krishnan, has been named a front runner to lead the government’s special purpose vehicle (SPV) tasked with the 5G roll-out nationwide, people familiar with the matter told The Vibes.
Sources said Marshall’s name cropped up as a likely candidate as Putrajaya is working to finalise the soon-to-be incorporated SPV.
However, the exact details of the contract and his position remains unknown as the situation is fluid, added an insider.
The Finance Ministry told The Vibes that it does not comment on speculation, while Marshall was not available for comment.
Marshall was once Ananda Krishnan’s lieutenant, and was on the board of various companies held by the tycoon, from investment vehicle Usaha Tegas Sdn Bhd to listed giants Maxis Bhd, Astro Malaysia Holdings Bhd, and Tanjong PLC.
Tanjong PLC was the company that Ananda Krishnan used to help 1Malaysia Development Bhd get a RM2 billion loan that the fund said it had repaid.
Marshall and Ananda made headlines in 2014 when police in India filed corruption charges against Dayanidhi Maran, India’s telecommunications minister between 2004 and 2007, and billionaire Kalanithi Maran over Maxis’ acquisition of a controlling stake in Aircel Ltd in 2006.
But, in 2017, a special court in India discharged all accused in Aircel-Maxis case. The Economic Times on February 2 said that the Enforcement Directorate (ED) and the Central Bureau of Investigation are still pursuing the matter.
Marshall is believed to have left all posts in Ananda’s sprawling business empire by end-September 2016.
Last week, Putrajaya announced that it will spend RM15 billion on the 5G roll-out over the next 10 years.
The Malaysian Communications and Multimedia Commission said it will regulate the SPV, but Fitch Solutions criticised the move.
The research house, in its report on Wednesday, said the decision will likely drive up wholesale costs, hurt operator margins, and affect the development of 5G services in the country.
It added that purported corruption in the ranks of the Perikatan Nasional government could affect the plan.
“It is possible that executive roles within this new entity will be allocated to political allies.” – The Vibes, February 26, 2021
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