Wednesday, June 09, 2010

Did Berjaya Mislead Investors?

Bursa mum whether Vincent Tan did wrong
UPDATED @ 06:04:45 PM 08-06-2010By Yow Hong Chieh June 08, 2010

KUALA LUMPUR, June 8 — Bursa Malaysia today refused comment over the status of tycoon Tan Sri Vincent Tan's listed Berjaya Corporation's claim in a filing last month with the exchange that Ascot Sports Sdn Bhd had been issued a sports betting licence by the Finance Ministry, which the ministry denied yesterday.

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DAP national publicity secretary Tony Pua said he doubted Tan had jumped the gun by making the announcement, as some have claimed.

“I believe Vincent Tan being an experienced corporate player backed by investment bankers would not have been so careless as to have made the announcement that he received approval for the sports betting licence from the Ministry of Finance if he hasn’t actually received it,” he told The Malaysian Insider.

“The investment bankers would not have prepared the announcement document and prepared to raise funds had such written confirmation not been received.”

The Petaling Jaya Utara MP had earlier demanded in Parliament that Finance Minister and Prime Minister Datuk Seri Najib Razak be referred to the Rights and Privileges Committee for allegedly misleading Parliament over the issuance of the Ascot sports betting licence.

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