MACC probes alleged abuse of PUNB funds

The MACC is probing a former senior manager and board member of Perbadanan Usahawan Nasional Berhad (PUNB) for alleged power abuse and misappropriation of funds in the procurement of books.

An internal investigation found the purchase of 20,000 copies of a book on former prime minister Najib Abdul Razak worth RM400,000 was not done according to the procurement process and procedure of PUNB.

The Malaysian Insight (TMI) quoted the investigation report as saying that the publisher of the book has family ties with a board director then. 

An MACC source confirmed the graft buster is investigating the case.

“We are awaiting further instructions as to whether to bring charges or not.

“The report (on misappropriation), which was completed in July 2019, has been submitted to the MACC,” the source said. 

There was no clear evidence showing the publisher had given all 20,000 books to PUNB.

PUNB had ordered 1,000 copies of the book to be disposed of without any apparent reason.

Its headquarters in Kuala Lumpur had been raided by MACC over the book purchase in May 2018.

The internal investigation was conducted by an accounting firm in October 2018 and later referred to MACC in the same month.

PUNB had been probing the alleged misappropriation of funds in the acquisition of companies, which involved contracts, loans and the sale of property valued at more than RM10 million.

Former Malacca chief minister Mohd Ali Rustam (above), who led PUNB since August 2013, had resigned in June 2018, two months after Pakatan Harapan took over Putrajaya.

Two other board members, Jamelah A Bakar and Hasbullah Wa Daud, also quit. 

The internal investigation revealed that there were property sales and development through a subsidiary established without the approval of the Finance Ministry and the Bumiputera Development Foundation (YPB).

It was also found that PUNB issued a project-management contract to renovate 12 of its branch offices to an architectural firm without due process.

PUNB was established in 1991 to enhance the participation of Bumiputera in entrepreneurship.

Malaysiakini has attempted to contact MACC Chief commissioner Azam Baki for comment.  - Mkini