Wednesday, October 28, 2020

Anwar denies financial interests after stock market buzz

He urges investors to 'invest carefully and not to invest on rumours'.

Other News

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PKR president Anwar Ibrahim today denied any financial interest in several listed stocks which saw extraordinarily active trading and gains of late after being linked to him.

He also urged investors to “invest carefully and not to invest on rumours”.

“It is an unfortunate reflection of the state of our economy that such rumours can move markets,” he said in a statement.

Last Friday, shares for Malayan United Industries Bhd, 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.

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

A PKR politician earlier told MalaysiaNow that 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.

Maintaining that he had no financial interests in these stocks, though, Anwar also urged Bursa Malaysia and the Securities Commission of Malaysia to take immediate action against anyone found manipulating the market based on “malicious political rumours”.

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