Wednesday, 31 October 2018

4 Bank Negara Malaysia officials htold to go on leave pending investigations purchase of land valued at RM2bil in January

Four BNM officials put on leave pending investigations into RM2bil land purchase


Wednesday, 31 Oct 201810:35 AM MYT

KUALA LUMPUR: Four Bank Negara Malaysia officials have been told to go on leave pending investigations into the January purchase of land valued at RM2bil.

The four were put on leave as the authorities including the Malaysian Anti-Corruption Commission investigate further into how the sale was concluded.

In June this year, former Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim resigned from his post over the controversy.

The controversy over the sale of land came about because the proceeds were alleged to have been used to settle some of the liabilities of debt-laden 1Malaysia Development Bhd.

However, in BNM's case the purchase was not for commercial reasons hence the contention was the price should have been lower.

Also, the money was transferred to the federal government before the full transaction was completed.

Read more at https://www.thestar.com.my/business/business-news/2018/10/31/four-bnm-officials-put-on-leave-following-investigations-into-rm2bil-land-purchase/#hR3tRjC4vjOGagVj.99

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