Sunday, July 25, 2021

Buzz in shares of company linked to Anwar’s sister

Report notes that the company's stock emerged as the second most actively traded today.

Other News

A company linked to the sister of Anwar Ibrahim appears to have gained interest among investors, in what could be interpreted as the close link between business and politics.

This comes a day after the PKR leader announced he was having an audience with the Agong to inform the king of his “formidable” majority to topple the federal government.

The Edge Markets reported that shares for Malayan United Industries Bhd (MUI), where Anwar’s sister Farizan Ibrahim is an independent non-executive director, were the second most active in early trade, with 228.66 million shares traded, increasing by 17.86% to 16.5 sen at 11.13am.

MalaysiaNow earlier quoted an aide to a PKR politician as saying that Anwar had secured an appointment with the Agong in the hope of getting “groundswell support from many more Umno MPs” despite anger from DAP, which controls a crucial 42 seats in the Pakatan Harapan bloc.

The report also quoted a source which said Anwar would be content with an appointment with the Agong “even without the numbers”, and suggested that the move could sway tycoons and businessmen “unfamiliar with the numbers game” to come to his side.

“Between today and next Tuesday, there is every possibility that anxious businessmen and tycoons unfamiliar with the numbers game will be willing to put their stake with Anwar, all because of this royal audience,” the source said.

Yesterday, Anwar said Sultan Abdullah Sultan Ahmad Shah had consented to a royal audience on Oct 13, at which he would furnish details of his claim to having “formidable and convincing” majority support from MPs to form the government.

Three weeks ago, he declared that Prime Minister Muhyiddin Yassin’s government had fallen, and that he was on the verge of forming a “Malay-majority” government.

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