MCW calls for full probe into NexG transactions, flags governance concerns
KUALA LUMPUR, April 18 – Malaysia Corruption Watch (MCW) has lodged a police report urging authorities to investigate alleged financial irregularities involving NexG Bhd.
Its president, Jais Abdul Karim, said a series of high-value transactions carried out during Victor Chin Boon Long’s tenure as chief operating officer warrant closer scrutiny.
Transactions raise red flags
The transactions under question include financing arrangements, investments and share purchases involving related parties, raising concerns over transparency and corporate governance.
Concerns heightened by financial losses
Jais noted that these activities reportedly took place during a period when the company was recording significant financial losses, adding to suspicions of mismanagement.
CEO urged to address concerns
MCW has called on NexG chief executive Abu Hanipah Noordin to clarify the situation and address public concerns.
Linked to broader controversy
The issue is also tied to share transactions involving individuals connected to Victor Chin, while authorities are reportedly tracking him over separate allegations, as confirmed earlier by Saifuddin Nasution Ismail.
Potential impact on market confidence
MCW warned that unresolved allegations could undermine investor confidence and damage the credibility of the corporate sector.
-wilayah.com.my
