ANCOM Bhd executive chairman and former Tourism Malaysia chairman Siew Ka Wei and the chief of a private firm, Elizabeth Ken Tze Ying, were remanded for four days over a RM100 million tourism contract awarded just prior to the 14th general election.
Magistrate Irza Zulaika Rohanuddin ordered their remand until January 12.
A 32-year-old chief executive officer (CEO) of a Sdn Bhd company was arrested to assist investigations into the RM99.693mil Tourism Malaysia project.
It is learnt that she was arrested together with a former top official of Tourism Malaysia after they were questioned at the Malaysian Anti-Corruption Commission (MACC) in Putrajaya on Tuesday (Jan 8).
Sources said that the company was only five months old when it was awarded the contract, which was allegedly inked in a day, infamously known as the “speedy gonzales” deal, which was done about a month before the general election last year.
The contract was for the company to act as a go-between for Tourism Malaysia and a China-based firm to promote Malaysia on social media.
The company in question is based in a two-and-a-half storey terrace house in Petaling Jaya.
The said deal was evaluated, negotiated and the contract was exchanged and sealed in ONE day, on 4 April 2018.
Ancom Bhd’s share price tumbled 6.1% to a low of 46 sen today after its executive chairman and former Tourism Malaysia chairman Datuk Dr Siew Ka Wei was remanded for four days over a RM100 million tourism contract awarded before the 14th general election.
At 4.13pm, Ancom was trading at 46.5 sen with 1.18 million shares changing hands.
Siew was remanded with the chief of a private firm Elizabeth Ken Tze Ying.
Ancom is a diversified group with businesses in agricultural and industrial chemicals, polymer, logistics, information technology and media.
Siew is also the executive vice chairman of Ancom Logistics Bhd and group managing director of Nylex (Malaysia) Bhd, both subsidiaries of Ancom.
Nylex’s share price was also trading 1.5 sen or 2.31% lower at 63.5 sen at 4.13pm with 501,800 shares done.