Twists and turns in Robert Tan's trial
The Spanco chief is the subject of a high-stakes legal battle over a lucrative public concession.
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Today’s wrap covers:
🧩 The bumiputera equity poser in Robert Tan’s trial
👑 Palatial renovation on public dime
💰 Does Malaysia still need Ekuinas?
🚩 Implications of Najib’s house arrest bid
And, in case you missed this on Wednesday 👇🏽
Robert Tan Hua Choon goes to court. The tycoon is claiming trial to cheating the Finance Ministry over an RM3.97 billion contract to supply, maintain and manage the government fleet.
Tan is charged with cheating ministry officials between February 27 and 28, 2019, for misrepresenting that Spanco Sdn Bhd – the tycoon’s company that won the concession – had at least 30% bumiputera interest in the tender process, resulting in the company securing the contract.
The charge sheet, however, did not provide details on what was purportedly false about Spanco’s bumiputera equity.
If convicted, Tan could be jailed up to 10 years and be fined. The Penal Code calls for whipping but he may be spared from this due to his old age. The tycoon is 83 years old.
There are two things I’ll flesh out today, based on publicly available information: Spanco’s bumiputera ownership and also a timeline of the events leading up to when the firm won the concession in 2022 for the second time.