DAP parliamentarian Tony Pua has accused a Dewan Rakyat of covering up for Prime Minister Najib Abdul Razak's son Mohd Nazifuddin, for rejecting a former's subject upon a Securities Commission (SC) review into a latter.
The Petaling Jaya Utara MP's had asked upon a status of SC's review into an choice agreement offering by cable manufacturer Superconment Technologies Bhd to Nazifuddin in March. However, it was deserted upon a grounds that questions can usually be acted to ministers as well as upon matters involving their duties.
"The subject is denied usually because of a part of a judgment that involves a budding minister's son Nazifuddin," settled Parliament secretary Roosme Hamzah in a reply dated final week.
Earlier on, Pua (left in photo) had urged a SC to dig into a controversial batch understanding involving Nazifuddin, job for a statutory body to "show a teeth as well as act without fear or favour" to stop a latter from alleged manipulation of a market.According to Pua, Superconment's shares that were trade ! during 12.5 sen each upon Mar 20 (Tuesday) to 29.5 sen upon Mar 23 (Friday), jumped to 58 sen upon Mar twenty-six (Monday).
"The spike upon Monday represented a 96.6 percent enlarge in cost over a shutting upon Friday or a some-more fantastic 362 percent enlarge over Tuesday's close. The batch closed during 49.5 sen upon Monday.
"When queried by Bursa Malaysia over a unusual batch activity, Supercomnet had usually responded after trade hours upon Monday that a major shareholders of a association had a day prior to sealed an agreement with Nazifuddin upon an choice to squeeze 45,357,000 typical shares of RM0.10 each during RM0.225 pe! r share, representing 18.66 percent of a released as well as paid-up collateral of Supercomnet," he said.
Pua afterwards pronounced that a share cost again shot up to 52.5 sen upon Mar twenty-seven (Tuesday) prior to collapsing to 36 sen during close, though a "shocking announcement" came after trade hours where a association had settled that Nazifuddin had indicated that he will not purse a choice to squeeze Supercomnet's 18.66 percent.
The announcement, pronounced a Petaling Jaya MP, had caused a company's batch to drastically dump to 22.5 sen, putting a censure for this upon "existing shareholders as well as Nazifuddin" of "massive manipulation as well as outright negligence... in ensuring material information is done available to investors upon a timely basis".
< span style="font-family:Verdana;font-size:13px">"Nazifuddin's officious bizarre U-turn upon a acceptance of a choice to squeeze 18.66 percent of a company, usually to reject it within 48 hours is obviously suspicious (and) contingency be rught away investigated," he urged.
'Who done tonnes of income from a exercise?'
Pua pointed out that a pertinent subject is "who done tonnes of income from a complete exercise".
Previously, Nazifuddin's impasse in joist manufacturing association Harvest Court Industries Bhd came to media courtesy as it concerned another questionablestock restructuring exercise.
The company's stocks, that were usually trade during 10 sen, shot to an 11-year high to 40 sen when Nazifuddin assimilated Harvest Court's board upon Oct 28 final year as well as soared to RM2.14 upon November 14, prior to it plunged upon November twenty-one upon hisdeparture. Read More @ Source
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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