Fast, factual wire coverage from across Malaysia and the region.
The Securities Commission's expanded supervisory role over Tabung Haji's investment decisions marks a watershed moment in rebuilding institutional credibility following findings of severe mismanagement between 2014 and 2020.
Malaysia's Securities Commission has signalled readiness to regulate Tabung Haji's fund management and investments should the government decide to implement recommendations from a recent Royal Commission of Inquiry.
Proposed amendments to the Tabung Haji Act 1995 will introduce stricter financial reporting standards, clearer accounting provisions, and penalties for misreporting, following recommendations from a Royal Commission of Inquiry into TH's operations from 2014 to 2020.
Malaysia's Court of Appeal has upheld a RM169.2mil asset freeze against businessman Ricky Wong and his entities over alleged securities fraud. Wong remains at large and faces criminal charges.
The Securities Commission Malaysia has charged three brothers with conducting unlicensed securities dealing across multiple states. The offences allegedly occurred between March and October 2019.