MACC remands foundation’s trustee with ‘Datuk’ title

GEORGE TOWN: A man with the ‘ Datuk’ title who is a trustee of a foundation with Bumiputera interest was yesterday remanded by the Malaysian Anti-Corruption Commission ( MACC) for investigation into allegations of abuse of position for personal gain.

The five- day remand order was issued by Magistrate Mohamad Amin Shahul Hamid here yesterday.

Dressed in orange lock-up outfit the man arrived at the Penang Court Complex accompanied by MACC officers at about 10.30am.

The 70-year- old man who is also a businessman was arrested by the MACC Wednesday at about 8.30pm.

According to a source, the man’s activities were believed to have incurred losses of millions of ringgit to a subsidiary of the foundation over the past few years.

He was believed to have sold land owned by the foundation’s subsidiary to a company which he had an interest in at a much lower price than the original price without going through the process and procedures which had been set by the subsidiary company.

In addition the man who is a trustee and director of the subsidiary company was suspected to have made the decision to sell the land without the knowledge of the company’s board of directors.

It was believed that he would get at least one per cent of the value of the land sold as a reward. — Bernama