Why did Tengku Adnan retain majority stakes in three companies?

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Datuk Seri Tengku Adnan Tengku Mansor Maintained Majority Stakes in Three Companies After Disclosing Intent to Prime Ministers

Datuk Seri Tengku Adnan Tengku Mansor asserted that he disclosed his intention to retain three companies, including Tadmansori Holdings Sdn Bhd, to the prime minister before joining the federal government. He stated that he was a successful businessman prior to his cabinet appointment in 2001, possessing assets exceeding RM938 million. Tengku Adnan disagreed with the prosecution's assertion that his continued majority ownership in Tadmansori Holdings constituted a breach of the code of conduct for members of the administration.
Disclosure of Intent to Retain Companies

Tengku Adnan explained that he informed the prime minister of his intention to keep three specific companies upon being asked to join the Cabinet. These companies included Tadmansori Holdings, a Hyundai franchise, and a public-listed entity that he has since divested. He clarified that he sold other business interests to become debt-free, thereby allowing him to concentrate fully on his government responsibilities.
Written Declarations of Assets

He confirmed that his shareholdings in Tadmansori Holdings were included in four written declarations of assets submitted to three different prime ministers. These declarations were made to Tun Dr Mahathir Mohamad in 2001, Tun Abdullah Ahmad Badawi in 2006, and Datuk Seri Najib Razak in 2013 and 2016. These disclosures coincided with his appointments as a deputy minister in 2001, tourism minister in 2006, and federal territories minister in 2013.
Interpretation of the Code of Ethics

The prosecution had argued that the code of ethics for members of the administration prohibits them from being majority shareholders or holding controlling interests in companies, necessitating the sale of such shares. However, Tengku Adnan contested the prosecution's suggestion that he had failed to adhere to this clause by remaining a majority shareholder in Tadmansori Holdings as of November 24, 2017. He maintained that his disclosures to the prime minister constituted sufficient compliance.

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Why did Tengku Adnan retain majority stakes in three companies?

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