Hussin brothers on garden leave amid MACC probe

 Nazir Hussin and Mubarak Hussin stepped aside from Avangaad Bhd and Nazir from Kinergy Advancement Bhd.

Yesterday, Nazir Hussin Akhtar Hussin (right) accused MACC of abusing its powers in its probe into the alleged misappropriation of RM10 million invested by Yayasan Bank Rakyat.

PETALING JAYA:

Corporate figures Nazir Hussin Akhtar Hussin and Mubarak Hussin Akhtar Hussin have voluntarily taken garden leave from their executive roles at Avangaad Bhd, effective yesterday.

The Edge reported that Nazir has also taken garden leave from his position as executive director at energy and engineering group Kinergy Advancement Bhd.

This comes amid an investigation by the Malaysian Anti-Corruption Commission into the alleged involvement of two sibling corporate figures in misappropriation and abuse of power in an investment deal worth about RM10 million.

Neither company specified the nature of the investigation, but both said it involved business activities unrelated to their operations and that they had not been informed of any findings of wrongdoing by the directors.

They said the garden leave was a precautionary measure, not a disciplinary action or an indication of wrongdoing.

Kinergy said Nazir would step away from its operations and board deliberations relating to the matter, under the oversight of its independent directors, while both brothers would be relieved of their executive duties at Avangaad and recused from related deliberations.

Yesterday, Nazir, a former chairman of Yayasan Bank Rakyat, accused MACC of abusing its powers in its probe into the alleged misappropriation of RM10 million invested by the foundation.

He said MACC’s raids on his residence and that of his brother, as well as his questioning during the seven days he was remanded, were conducted unprofessionally. He added that while the commission had previously investigated the investment in 2022, he understood that no wrongdoing or misappropriation had been identified. - FMT