In today’s edition of Evening 5 — Datuk Seri Dr Ahmad Zahid Hamidi is granted a discharge not amounting to an acquittal for his 47 graft charges. Meanwhile, sources say ex-PLUS Malaysia MB and CEO Datuk Azman Ismail is one of the contenders in the race to lead DNB.
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00:00 The KL High Court granted Datuk Sd. Ahmad Zahid Hamidi a discharge not amounting to
00:09 an acquittal or DMAA after the prosecution decided to drop all 47 charges of criminal
00:16 breach of trust, graft and money laundering against the former Deputy PM.
00:21 The charges were related to the misuse of funds at Yayasan Akal Budi.
00:26 Deputy Public Prosecutor Datuk Mohamad Dusuki Mokhtar told Judge Datuk Colin Lawrence Sekeratade
00:31 that he had instructions from Attorney General Tan Sri Idrus Harun to discontinue the charges
00:37 against Zahid after four years of trial.
00:40 The prosecution said the MACC is still investigating the matter and also highlighted a need to
00:46 look into former AG Tan Sri Tommy Thomas' memoir as it is relevant to the charges.
00:52 A DMAA means an accused person can face trial for the same charges in the future if the
00:58 prosecution decides to reinstate them.
01:01 Zahid's lead counsel Datuk Hisham Tehpotek told the press that they will file an appeal
01:06 to seek a full acquittal of all the charges.
01:09 Sources say Datuk Azman Ismail, former MD and CEO at Plus Malaysia, has emerged as one
01:20 of the contenders in the race to lead the MOF's special purpose vehicle company, Digital
01:26 National.
01:27 The position has been vacant since March of this year, after industry veteran Augustus
01:32 Ralph Marshall stepped down from the role when his two-year contract expired.
01:37 Azman, who was most recently with Plus from January 2017 to December 2022, was previously
01:44 MD of Shell Malaysia Trading and concurrently the General Manager of its retail business,
01:50 overseeing Shell's petroleum retailing in Malaysia and Brunei.
01:54 In his 30-year career at Shell, Azman held key positions in the operation's retail
02:00 and finance departments.
02:01 Azman is regarded as the leading candidate to get the job, but two more names are touted
02:07 - Senator Datuk Sri S. Valbhari and former MCMC Chairman Alish Sal Ishak Dikeci.
02:13 Communications and Digital Minister Fahmi Fazil had reportedly said the new leadership
02:18 for DNB was expected to be announced by MOF on August 31.
02:28 The police are in the process of seizing assets worth RM93.2 million purchased using monies
02:35 originating from 1MDB, with the help of the fund's former General Counsel, Jasmine Liu.
02:40 Deputy Inspector General of Police Datuk Sri Ayub Khan Mai Din Pichay said today the assets
02:46 include properties in Singapore, the United States and London, and nine paintings, including
02:51 two by Picasso, as well as monies held in bank accounts.
02:55 These assets were declared by Liu to the police and also recorded in her statutory declaration
03:00 that was signed on August 23.
03:03 He added that the assets are believed to be worth even more now, as the RM93.2 million
03:09 figure quoted is based on the prices back in 2013 when the assets were first purchased.
03:15 Liu is currently held under remand by the authorities, following her return to Malaysia
03:20 on July 7 after five years on the run.
03:23 She is said to be one of the accomplices of fugitive Penang-born businessman Low Tick
03:27 Joe and is one of the defendants in the US$8 billion suit filed by 1MDB against her, former
03:34 Prime Minister Datuk Sri Najib Razak and former 1MDB officers.
03:44 Firm Investments Bank raised its 2023 FBM-KLCI target to 1,570 points from 1,500 on the assumption
03:53 that domestic institutions will largely maintain their buy position towards the end of the
03:59 year.
04:00 This is on the back of ample local liquidity, below-average valuations, highly attractive
04:05 dividend yields, as well as window dressing amid improving corporate earnings growth next
04:10 year.
04:11 In the worst-case scenario, such as an abrupt reversal of US Fed policy and an improvement
04:16 in global economic conditions, it's said the FBM-KLCI should reach 1,645 by the end
04:23 of this year.
04:24 The research house said a global recession, a new COVID-19 outbreak and intensifying geopolitical
04:31 conflicts could meanwhile push the benchmark composite to a worst-case scenario of 1,222.
04:38 Firm Investments has an overweight call on the banking, oil and gas, auto, consumer,
04:43 power, property, REITs and healthcare sectors, with top picks including CIMB Group Holdings,
04:50 Tenaga National, Telecom Malaysia, Dialog Group and Inari Ametron.
04:54 It also likes small-cap stocks with strong brand names, such as Spritzer and Encon Milex,
05:00 and grossly undervalued companies like Dillium.
05:05 TNG Digital said it is fully committed to complying with Bank Negara Malaysia's standards,
05:14 after the central bank fined the company RM600,000 for onboarding two sanctioned individuals,
05:20 an act that contravened the Financial Services Act 2013.
05:25 In a statement today, the electronic payment system company said the actual breaches occurred
05:30 more than three years ago and their total transactions on its platform were minimal.
05:35 Still, TNG Digital said it treated these breaches with "utmost seriousness" and promptly
05:41 reported them to the central bank.
05:43 It said it had informed BNM of the discoveries made regarding the sanctioned users, in addition
05:49 to conducting a thorough review and making improvements to its internal procedures and
05:54 systems to prevent future occurrences.
05:58 Its CEO, Alan Lee, said TNG Digital's users are its top priority, and it aims to reinforce
06:04 their confidence in the compliance of its platform.
06:07 He added the company will continue to cooperate with BNM, adhere to protocols and practice
06:13 the highest standard of self-accountability.
06:16 [MUSIC]