Dr Mahathir: I do not hold any stake in The Loaf

BUKIT KAYU HITAM: Tun Dr Mahathir Mohamad dispelled talk that he holds a stake in lifestyle bakery and bistro The Loaf, amidst documents that apparently showed his ownership.

The premium bakery- bistro founded by Dr Mahathir closed down its 12 outlets nationwide on Thursday after 12 years in operations.

“I only have 200 units of shares with a tobacco company and also with PNB (Permodalan Nasional Berhad), and even that was awarded to me when I launched their products when I was the Prime Minister,” he told reporters after a ceramah at Felda Bukit Tangga here on Friday.

Over the years, several media reports have many times identified Dr Mahathir as one of the owners of The Loaf, via a joint venture company that runs the upmarket bakery.

A Chinese daily had reported one of the company’s directors as saying that Dr Mahathir was not a major shareholder but only the founder of the business

Barisan Nasional Strategic Communications deputy director Datuk Eric See-To yesterday shared “proof ” that Dr Mahathir is thge owner of the The Loaf on his Facebook page.

He shared forms from the Companies Commission of Malaysia (SSM) that showed Dr Mahathir’s name listed as a director and shareholder of M&M Consolidated Sdn Bhd, the company that runs The Loaf.

According to the SSM records, shared by See-To, Dr Mahathir also owned 10.062 million shares in M&M Consolidated.

“For a long time, Tun Mahathir said that The Loaf was his company but suddenly when the company shut down, Mahathir denied any stake,” said See-To.