70% of NST, MRCB takeover unit held in Dr M's name: Anwar

70% of NST, MRCB takeover unit held in Dr M's name: Anwar

Mahathir

The on going legal dispute between former Realmild director Khalid Ahmad and former Malaysian Resources Corporation Bhd (MRCB) chairman Abdul Rahman Maidin in Kuala Lumpur has cleared Anwar Ibrahim of accusations that he had an interest in the company, as alleged by UMNO following his sacking in 1998.

Recounting the accusations against him, Anwar said 70 per cent of the stake in Realmild had been under the name of Dr Mahathir Mohamad.

“In 1999, I told the High Court that 70 percent stake in Realmild was held in the name of Dr Mahathir Mohamad. I did not have any interests in the company.

"Following that revelation, Dr Mahathir quickly asked Abdul Rahman Maidin to take over the shares, and at that time it was told that it belonged to UMNO. This proves my earlier assertions,” wrote Anwar in a brief blog posting.

Realmild was the takeover vehicle for NST, MRCB

Abdul Rahman, a former MRCB chairman, was testifying in court yesterday in his defence against a civil suit filed in 2005 by Khalid Ahmad to demand the second half of a RM10 million payment of five per cent of the Realmild’s shares.

He said that he had been informed by the then prime minister (Mahathir) that he could not claim reimbursement for money paid for seven million shares in Realmild because they belonged to UMNO.

It was understood that Abdul Rahman had allegedly paid RM5 million for the shares, but later reneged on the remainder after Dr Mahathir’s shocking revelation that the shares actually belonged to UMNO.

Currently, Abdul Rahman is counter-seeking to recover the RM5 million that he paid to Khalid, but Khalid has maintained that the five percent stake was his own while acknowledging that the majority stake was part of an ‘UMNO Trust’.

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