PUTRAJAYA: The share transfers of Telekom Malaysia Bhd and Tenaga Nasional Bhd (TNB) to Bank Negara Malaysia (BNM) in order to bail the latter out of insolvency back in 1994 was ordered to be done discreetly. This directive for discretion was made by the then “higher-ups of the Ministry of Finance (MOF)”, former Deputy Finance Secretary at the Finance Department of MoF, Datuk Othman Jusoff told the Royal Commission of Inquiry (RCI) yesterday. Othman, 69, however claimed that he could not remember who exactly made the directive as it happened too long ago. You made a note that it should be done discreetly and yet you said, you can't remember,” said Suhaimi to Othman. The share transfers of both companies were to be done discreetly through Rashid Hussein Securities Sdn Bhd (now known as the RHB Group).

Source: New Strait Times September 18, 2017 12:33 UTC