ECM Libra Avenue Bhd. A Lose-Lose Situation For Khairy Jamaluddin.
When Khairy had the damned ECM Libra shares everyone cursed him and accused him of making millions. Now that he has sold them the same blokes are questioning the reasons for selling!! What does the poor guy have to do to get these chaps off his back? I'm sure the PM too must be at his wit's end with this constant bitching about his son-in-law and therefore had to make this clarification.
Prime Minister Datuk Seri Abdullah Ahmad Badawi says Umno Youth deputy chief Khairy Jamaluddin has the right to sell his shares in investment firm and stockbroker ECM Libra Avenue Bhd.
He said Khairy had told him that he would sell his shares because he did not want the company to face problems with his presence as a minority shareholder.
"It's his right. The shares are his, not mine. I don't having anything to comment. He just told me that, that's all," he told reporters. He was commenting on news reports which said that Khairy, who is his son-in-law, had sold off his 10.2 million shares representing 1.23 per cent equity in ECM Libra.
ECM Libra chairman Datuk Kalimullah Hassan Masheerul Hassan has also reduced his stake in the company to 40 million shares or 4.8 per cent in the company and is now no longer deemed a substantial shareholder.
The 26,467,220 shares belonging to Khairy and Kalimullah were bought by Hikkaya Jaya Sdn Bhd, a subsidiary of AmcorpGroup Bhd, for RM17.2 million.
Meanwhile, Terengganu Menteri Besar Datuk Seri Idris Jusoh said Khairy had never denied that he was a shareholder of ECM-Libra.
"He admitted and had never denied this. I don't know his prerogative to buying and sell, it is a business decision and a personal matter. Why should I interfere in his business decision," he told reporters. "As the Prime Minister's son and daughter, you are going to be in the limelight and this is not new....that people talked about his family", he said.
Idris however believed that Khairy's decision to dispose of his shares would not stop speculations and rumours about him and his father in-law.
**** Khairy's latest comments on the subject here: Khairy: Decision to sell shares made to safeguard company’s interest
Prime Minister Datuk Seri Abdullah Ahmad Badawi says Umno Youth deputy chief Khairy Jamaluddin has the right to sell his shares in investment firm and stockbroker ECM Libra Avenue Bhd.
He said Khairy had told him that he would sell his shares because he did not want the company to face problems with his presence as a minority shareholder.
"It's his right. The shares are his, not mine. I don't having anything to comment. He just told me that, that's all," he told reporters. He was commenting on news reports which said that Khairy, who is his son-in-law, had sold off his 10.2 million shares representing 1.23 per cent equity in ECM Libra.
ECM Libra chairman Datuk Kalimullah Hassan Masheerul Hassan has also reduced his stake in the company to 40 million shares or 4.8 per cent in the company and is now no longer deemed a substantial shareholder.
The 26,467,220 shares belonging to Khairy and Kalimullah were bought by Hikkaya Jaya Sdn Bhd, a subsidiary of AmcorpGroup Bhd, for RM17.2 million.
Meanwhile, Terengganu Menteri Besar Datuk Seri Idris Jusoh said Khairy had never denied that he was a shareholder of ECM-Libra.
"He admitted and had never denied this. I don't know his prerogative to buying and sell, it is a business decision and a personal matter. Why should I interfere in his business decision," he told reporters. "As the Prime Minister's son and daughter, you are going to be in the limelight and this is not new....that people talked about his family", he said.
Idris however believed that Khairy's decision to dispose of his shares would not stop speculations and rumours about him and his father in-law.
**** Khairy's latest comments on the subject here: Khairy: Decision to sell shares made to safeguard company’s interest
posted by The Malaysian. at 8/13/2006 06:30:00 PM
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