Can of worms
Anwar’s ex-aide relinquishes stake in listed govtech firm but questions remain.
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The curious case of Investment, Trade and Industry Minister Tengku Zafrul Aziz
Q&A with former Bangi MP Ong Kian Ming on DAP-Umno relations
Today’s wrap covers:
🚩 Gaps in Farhash’s relinquishing of his stake in Heitech Padu
🏿 Did Malaysia’s semiconductor industry gain from the US-China trade war?
📣 Dissatisfaction for Anwar’s government grows
🦄 Why Malaysia should retire its unicorn dreams
And in case you missed last Saturday’s blockbuster 👇🏽
Farhash Wafa Salvador ceased to be Heitech Padu’s substantial shareholder on Thursday. The former aide of Prime Minister Anwar Ibrahim relinquished his stake in Bursa-listed govtech firm after an ownership change in investment vehicle Mfivesouthsea Sdn Bhd.
Farhash initially co-owned Mfivesouthsea with Kelantan ruler Sultan Muhammad V. Each of them owned a nominal share each. But, on April 18, company filings showed Farhash relinquishing his stake to Sultan Muhammad, making the Kelantan ruler the sole owner of the company.
Mfivesouthsea is the holding company of Rosetta Partners Sdn Bhd which is the largest shareholder of Heitech Padu with a 15.9% stake.
The ownership change was Heitech’s version per the bourse filing that day. But Farhash’s exit came on the back of criticism that Heitech snagged a multi-million ringgit public tender allegedly due to his connection with Anwar.