Sc Not Probing Genting Over Leissner S Bribery Claim

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Tim Leissner testified to transferring US$14 million (RM45 million) to a member of the Lim family to help push through Genting Power Holding Ltd’s sale of a power plant to 1MDB in 2012. (Bloomberg pic)PETALING JAYA: The Securities Commission Malaysia (SC) will not be probing Genting Bhd over former Goldman Sachs executive Tim Leissner’s claim to bribing a member of the Lim family that controls the conglomerate.
“This allegation refers to corrupt practices,” said the SC in a statement to FMT.
“The SC’s remit, as you know, extends only to matters related to securities law,” it said when asked to comment on Leissner’s recent claim in a United States court.
Leissner, the star witness in the trial of former Goldman Sachs banker Roger Ng, had testified to transferring US$14 million (RM45 million) to a member of the Lim family to help push through Genting Power Holding Ltd’s sale of a power plant to 1MDB in 2012.

Subsequently, PKR’s Subang MP Wong Chen raised the issue in the Dewan Rakyat and asked deputy finance minister Yamani Hafez Musa if the ministry would order the SC – which reports to the finance minister – to investigate the matter.
Wong said the SC would be the appropriate body to investigate Genting Bhd as the conglomerate was listed on Bursa Malaysia.
FMT has reached out to an aide to finance minister Tengku Zafrul Aziz, as well as Genting Bhd, for comment. - FMT

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