Kelulusan TH beli Putrajaya Perdana ketika syarikat bawah kawalan Jho Low

Putrajaya Perdana faced scrutiny from the SRC International committee during a special Dewan Rakyat session due to its alleged connections to Jho Low through UBG. The company's chairman, Rosman Abdullah, confirmed that SRC International had transferred RM170 million to Putra Perdana Construction between July and August 2014, while the sale of the company from UBG was not yet completed.

Amir Hamzah Azizan, the Finance Minister, stated that the approval timeline for the investment showed that Putrajaya Perdana remained under Low's control via UBG at different stages. Despite investigations revealing that Jho Low was not a beneficial owner at the time, the matter remained as sworn testimony. The panel had requested the full ownership of the selling company but did not receive any answers, and the valuation remained unchanged.

TH paid RM193.5 million to Cendana Destini Sdn Bhd in December 2014 to acquire 30% of Putrajaya Perdana, based on two promises - the company would be relisted within a year and generate RM86 million in profits by 2015. However, both promises failed to materialize, and the panel recorded the chairman of TH also held the position of chairman at Putrajaya Perdana.

Due diligence was performed only after all approvals were obtained, and the panel did not consider the risk department's suggestions. The investigation found similar patterns in the decision-making process, with four investors bypassing the required due diligence and the risk management department's recommendations not being handled appropriately.

An unusual fact uncovered was that the seller obtained 100% ownership of the company for RM260 million in 2012, which increased to RM193.5 million after two years despite two failed promises. TH is currently pursuing legal action in court with a writ filed and an injunction received, with a mediation set for June 23, 2027.