Halim Saad refutes claims of being probed by MACC

SHAH ALAM - Business tycoon Tan Sri Halim Saad denies media reports claiming that he was being questioned by the Malaysian Anti-Corruption Commission (MACC) for misappropriating a sum of RM2.3 billion.

Free Malaysia Today (FMT) earlier reported that the businessman denied claims that he was called by the MACC in connection with a probe into the purchase of shares in a listed company by a Malaysian conglomerate 26 years ago.

"MACC did not call me for questioning on the issue," the former Renong Bhd Executive Chairman told FMT.

Last Friday, the media reported that the MACC was conducting an investigation into a former senior minister and a businessman with the title of Tan Sri regarding the alleged misappropriation of state funds.

The report, which quoted a source, stated that the MACC launched an investigation into two individuals involved after their names were listed in the Pandora Papers as individuals linked to offshore tax havens.

Halim, who is currently involved in the oil and gas (O&G) industry abroad, criticised The Edge newspaper's report, which implicated him in the acquisition of shares worth RM2.3 billion.

In The Edge's previous report, MACC sources were said to have confirmed the transaction involved the purchase of a 32.6 per cent stake or 722.9 million shares in Renong Bhd by United Engineers (M) Bhd (UEM) at a price of RM2.3 billion in November 1997, during the Asian financial crisis.

The Edge also republished its three articles on the acquisition of Renong UEM shares from November 1997.

Elaborating on the report, Halim said that the article sparked baseless speculation about him and raised disputes about his role in the purchase of Renong shares by UEM.

"I challenge them to present evidence of my wrongdoing in the transaction," he said.

Halim is one of the individuals who played an important role in the development of Renong Bhd's corporate empire from mid-1980s to the 1990s.