KUALA LUMPUR, Oct 20 — Prime Minister Datuk Seri Anwar Ibrahim told Parliament today that the Securities Commission (SC) pursued further action in the corporate scandal involving Serba Dinamik Berhad, leading to new charges in early 2026.
The scandal caused huge financial losses to shareholders after Serba Dinamik’s market capitalisation plunged by more than 99 per cent, from RM6 billion in early 2020 to about RM50 million by late December 2022.
Anwar said the SC had initially charged Serba Dinamik and its managing director, Datuk Mohd Abdul Karim Abdullah, in December 2021 over false statements submitted to Bursa Malaysia.
However, he claimed that under the previous administration in May 2022, the SC was directed to withdraw all charges following the payment of RM16 million in compounds, resulting in the court discharging and acquitting all the accused.
“Under the Madani administration, the SC pursued investigations into other transactions involving Datuk Karim. This action led to charges being filed against him and another individual in early 2026 regarding transactions and false statements involving Sarawak Consolidated Industries Berhad,” he said during PM Question Time.
Anwar was responding to a question on the status of investigations into allegations of a purported “corporate mafia”, which Bloomberg reported had plotted hostile takeovers of companies linked to projects that received government tenders.
Both Bloomberg investigative reports cited dozens of unnamed sources, including individuals purported to be active Malaysian Anti-Corruption Commission (MACC) and police officers.
Task force report on corporate mafia to be made public
When initially asked about the status of the probe, Anwar did not directly answer the question but later clarified that he had instructed a special task force led by the Attorney General (AG) to finalise its investigation and publicly disclose its findings within three months.
“Because this matter has arisen and I want the coordination to be more effective, I have asked the attorney general to lead a task force involving all enforcement agencies — namely MACC, PDRM, Bank Negara, SC, LHDN, and AMLA,” Anwar said.
“I have asked for a complete report so that people do not assume this lacks transparency or that someone is being protected. Let it be completed within a three-month time-frame, and because this report is not merely a civil service report but a government report, I have requested that it be disclosed to the public,” he added.
Anwar denied claims that his government was protecting anyone, pledging to make the special committee’s findings public.
“This will show that nothing is being protected. Even if names were mentioned and evidence was cited, let it come out — regardless of whether the names mentioned were Azam Baki, Farhaj, or Victor Chin, it doesn’t matter,” he said.
“Let us get full disclosure through this special committee led by the attorney general.”