What specific powers were allegedly abused in the RM370m deal?

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Abuse of Power Alleged in RM370 Million Plantation Share Deal

The Malaysian Anti-Corruption Commission (MACC) has arrested the former CEO and CFO of a company owned by a statutory body on suspicion of abusing their power. This alleged abuse is linked to the acquisition of shares in two plantation companies valued at RM370 million. The investigation is ongoing, with the suspects cooperating with MACC officials.
Investigation into Share Acquisition

The arrests stem from an investigation into a specific share acquisition transaction. The former CEO, aged 68, and the former CFO, aged 60, are suspected of misusing their authority in the process of obtaining shares in two separate plantation firms. The total value of these shares was RM370 million.
Review of Royal Commission Findings

This investigation is being conducted by a special task force established to examine the findings of the Royal Commission of Inquiry (RCI) report on Tabung Haji. The RCI report, which was made public on July 29, has prompted a broader review of past dealings. The task force's examination of this report led to the focus on the alleged abuse of power in the plantation share deal.
Legal Framework for Investigation

The MACC is investigating the matter under Section 23 of the MACC Act 2009. This section pertains to the offence of using one's office or position for gratification. MACC chief commissioner Datuk Seri Abd Halim Aman confirmed the arrests and the relevant legal section under which the probe is being conducted.

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What specific powers were allegedly abused in the RM370m deal?

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