Uber did not donate to the Malaysian Global Innovation and Creativity Centre (Magic) in exchange for the US$30 million investment in the e-hailing company by Retirement Fund Incorporated (KWAP).
Treasury secretary-general Mohd Irwan Serigar Abdullah, who is also the chairperson for KWAP and Magic, declared this to the media in Putrajaya today.
"It is not true at all. No, nothing. No conflict of interest," he said in response to a question on whether there was a conflict of interest, since he helmed both Magic and KWAP.
On Sept 20, Bloomberg reported that Uber’s lawyers were reviewing a series of financial deals and transactions purportedly tied to the Malaysian government that might have influenced lawmakers here.
The lawyers are looking at a corporate donation of tens of thousands of dollars to Magic, which was announced in August 2016.
Around the same time, KWAP supposedly invested US$30 million in Uber.
In its response, KWAP insisted its investment in e-hailing company Uber was made in accordance with the retirement fund's governance structure and internal processes.
"We would like to clarify that all our investments, including KWAP's investment in Uber, were made following KWAP's governance structure and internal processes, which encompassed thorough investment evaluation and assessments," said KWAP.
Meanwhile, Magic refuted its involvement in "any quid pro quo arrangements".- Mkini
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