PAC Expected to Summon Transport Minister Anthony Loke Over RM500 Million MAHB Share Loss

KUALA LUMPUR, February 1, 2025 – The Public Accounts Committee (PAC) is expected to summon Transport Minister Anthony Loke to testify regarding the alleged RM500 million loss in the Employees Provident Fund’s (EPF) share transactions involving Malaysia Airports Holdings Bhd (MAHB).

According to a report by The New Straits Times, PAC Chairperson Datuk Mas Ermieyati Samsudin stated that Loke, along with several other individuals, will be called for phased proceedings, set to begin in the second week of this month.

“We previously summoned MAHB to discuss several matters. For public airport management, PAC has outlined the terms of reference for proceedings covering all issues, including MAHB’s delisting from Bursa Malaysia’s Main Market under the Gateway Development Alliance Sdn Bhd (GDA) consortium led by Khazanah Nasional Bhd, as well as concerns over high ticket prices and delays in Aerotrain installation,” she said.

She further emphasized that PAC has listed several parties to be called, and the proceedings are expected to begin soon.

“I do not rule out summoning the Transport Minister, given the issues surrounding Aerotrain services. It is important to obtain his response and testimony to ensure transparency in this investigation,” she added after attending the launch of Bersatu women’s wing Srikandi’s Melaka Service Centre, officiated by Bersatu President Tan Sri Muhyiddin Yassin at Taman Tambak Paya Harmoni, Ayer Molek, last night.

Also present at the event were Bersatu Secretary-General Datuk Seri Mohamed Azmin Ali and Bersatu Melaka Chairman Tan Sri Rahim Tamby Chik.

EPF Accused of Selling MAHB Shares at a Low Price Before Repurchasing at a Higher Price

Previously, several non-governmental organizations (NGOs) and political parties called on EPF to clarify the sale of MAHB shares in January 2023 at approximately RM6.74 per share before repurchasing them at RM11 per share as part of MAHB’s privatization process.

The Malaysian Chinese Association (MCA) has also urged the government to investigate the share sale, which left EPF with only a five percent stake in MAHB.

Mas Ermieyati, who is also the Member of Parliament for Masjid Tanah, stated that during the First Meeting of the Fourth Session of the 15th Parliament from Monday until March 6, PAC has scheduled about 45 meetings, including five new proceedings related to various national financial issues.

PAC is expected to play a crucial role in ensuring transparency in procurement matters and share transactions involving public interest companies, especially in cases that impact pension funds like EPF.