Posted 3/17/2024, 8:10:00 AM
Ex-Aide's Stake in Tech Firm Bidding on Government Contract Raises Favoritism Concerns
- Ex-aide of Malaysian PM takes large stake in tech firm HeiTech Padu, raising concerns of favoritism in government contracts
- HeiTech Padu bidding on $284 million immigration system contract, and share price rose after ex-aide's investment
- This is 5th publicly listed company ex-aide has been linked to since PM was elected, concerns of undue influence
- Analysts say it undermines fairness and transparency in business, other firms lack same access/influence
- Ex-aide dismisses concerns, says stake is investment strategy, though ties remain close with Malaysian PM