Hussin brothers on garden leave amid MACC probe
Nazir Hussin and Mubarak Hussin stepped aside from Avangaad Bhd and Nazir from Kinergy Advancement Bhd.
Two Malaysian corporate figures, Nazir Hussin Akhtar Hussin and Mubarak Hussin Akhtar Hussin, have taken garden leave from their executive positions at Avangaad Bhd and Kinergy Advancement Bhd, respectively. This follows an ongoing investigation by the Malaysian Anti-Corruption Commission (MACC) into allegations of misappropriation and abuse of power in a RM10 million investment deal.
Both companies stated that the investigation pertains to business activities not related to their operations and that they have not been informed of any findings of wrongdoing by the directors. They described the garden leave as a precautionary measure, rather than disciplinary action. Nazir, a former chairman of Yayasan Bank Rakyat, alleged that MACC has abused its powers during its probe, including unprofessional raids on his residence and questioning during a seven-day remand.
He noted that the commission had previously investigated the investment in 2022, but no wrongdoing was identified at that time.
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