Farhash Denies NexG Boardroom Role, PM Order
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- Farhash Wafa Salvador denied involvement in a NexG boardroom tussle and said he was never contacted or instructed by PM Anwar Ibrahim, contradicting CNA's Mar 12 report that the premier had ordered him to back off.
- Lawyer Shankar Govinth wrote to CNA on Mar 13 stating Farhash "has no knowledge whatsoever of the matters alleged" and "has never instructed any person, group, corporate entity and/or representative" to assume control of NexG.
- CNA's earlier report claimed Anwar's alleged intervention was intended to clear the way for veteran businessman Ishak Ismail — a long-time associate of the premier — to lead NexG and avert a courtroom battle.
- Ishak Ismail had amassed a 25 per cent stake in NexG in a deal valued at roughly RM300 million (US$76.14 million), according to CNA's first report on the tussle in November.
- Farhash holds no direct stake in NexG but owned 20 per cent of MMAG Holdings, a publicly listed logistics firm in which NexG itself holds a 10 per cent interest.
- Six NexG board directors aligned to Farhash resigned en masse on Mar 11, as announced to Bursa Malaysia, shortly after the alleged PM order was reportedly issued.
- Executive chairman Abu Hanifah Noordin was suspended on Mar 5 and reinstated on Mar 12 amid the broader boardroom turmoil.
Why it matters: Farhash's on-record denial directly contradicts CNA's report citing insiders who said PM Anwar ordered him to withdraw from a NexG takeover campaign. With six aligned board directors having resigned en masse the day before his denial, the dispute leaves both the corporate takeover and the alleged political intervention in contested territory.
