Mujahid: No political intervention in sale of THP subsidiaries

He said TH Plantations Berhad (THP), which is TH’s wholly-owned subsidiary, has also been given the same trust.

“TH owns 72 percent shares in THP, and I have never intervened in any sale of THP subsidiaries," he said in a statement today.

“This is because I have great confidence that the new management of THP will be able to save the company from suffering further losses,” he said in a statement today.

The statement was issued in response to Umno Youth chief Asyraf Wajdi Dusuki’s remarks at a press conference yesterday, demanding Mujahid to clarify his stance on the THP board of directors’ recent decision to sell 14 of its subsidiaries with a total plantation land of 76,975 hectares.

While explaining that sale of subsidiaries is a common practice in business, Mujahid also expressed surprise at Asyraf Wajdi and former prime minister Najib Tun Razak’s move in raising the issues of the sale of plantation land involving THP.

“The more important questions to be asked are why they purchased the land in the first place and what happened that forced the land to be sold and THP to suffer great losses?” he said.

Stressing that he believed that THP is now on the right track in transparently managing its affairs without political intervention, the minister also welcomed Asyraf Wajdi to lodge a police or MACC report if he had evidence of misappropriation in the sale of THP plantation plan. — Bernama