Court blocks the SC
Inside Primus' fight with the regulator, and the cash trust with friends in high places.
We have quite the court drama for a Sunday read and one that involves the Securities Commission’s investigative powers.
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On Monday, the Kuala Lumpur High Court blocked the Securities Commission Malaysia (SC) from enforcing its demand for documents on property group Primus Equities and Assets Sdn Bhd.
Justice Norliza Othman, presiding over the special powers division, granted Primus an interim stay, freezing the regulator’s demand for documents until a full hearing on 20 October.
Today's newsletter unpacks the suit and ends with an ownership fact box and chart on UBB Amanah, whose directors include a former president of the Malaysian Bar, and whose ownership reaches a former aide to Prime Minister Anwar Ibrahim.