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Malaysia Chronicle

Finance Minister Tengku Zafrul Abdul Aziz has been urged to clarify a slew of resignations among the many Securities Commission (SC)’s high officers.

Muda central government member Lim Wei Jiet in a press release in the present day raised concern in regards to the resignations of SC government chairperson Syed Zaid Syed Jaffar Albar and three others.

He stated these coincided with a current resolution by the Attorney-General’s Chambers (AGC) to withdraw prices towards a troubled oil and fuel providers firm, Serba Dinamik Holdings Sdn Bhd.

“These exits come a couple of days after the Attorney-General’s Chambers’ resolution to withdraw prison prices towards the 4 Serba Dinamik executives for submitting false monetary statements to the SC, in trade for a mere compound of RM3 million every.

“The most penalty for such prices is 10 years in jail and a positive of as much as RM3 million.

“One can not fault members of the general public for drawing a correlation between these high-profile exits and the withdrawal of prices towards Serba Dinamik executives.

“The government, specifically the finance minister, must explain in detail why these officials have chosen to resign at the same time, and whether it has any correlation with the Serba Dinamik saga,” stated Lim (above), who can also be a lawyer.

Malaysiakini has contacted an aide of Zafrul to request his remark however has but to obtain a response.

The SC yesterday introduced the resignation of Syed Zaid, and that he might be changed by Awang Adek Hussin starting this June 1.

The resignation got here simply six months after Syed Zaid was reappointed because the SC government chairperson for a second three-year time period.

A report by The Edge yesterday linked Syed Zaid’s resignation to the AGC’s resolution to withdraw prices towards Serba Dinamik.

Executives of the corporate had been accused of submitting false monetary statements to the inventory trade in what was described as the most important company fraud by a Bursa-listed firm.

Today, the media outlet reported that three SC administrators are additionally quitting the fee for unknown causes.

Lim stated the nation’s financial system might be negatively affected if the SC’s integrity is introduced into query.

“Did these officers resign as a result of they had been dissatisfied with how the authorities have handled the Serba Dinamik executives?

“Transparency and accountability on this problem are essential as a result of the SC is likely one of the solely few reputably unbiased authorities establishments left within the nation, and performs an important position in guaranteeing confidence in direction of Malaysia’s capital markets.

“If there is an inadequate explanation and the SC’s integrity is brought to question as a result, it would be economically disastrous for the nation in the long run,” Lim added. MKINI

THE MALAYSIAN INSIGHT / MKINI

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