PRIME Minister Datuk Seri Anwar Ibrahim’s ex-political secretary Farhash Wafa Salvador now helms three public listed companies (PLCs) following his appointment as the executive chairman of Excel Force MSC Bhd effective yesterday (May 9).
The 41-year-old former Perak PKR chairman was made the non-independent non-executive chairman of 7-Eleven Malaysia Holdings Bhd on Jan 3 following his appointment as group executive chairman of Apex Equity Holdings Bhd on Dec 27 last year.
According to Bursa Malaysia filings, Farhash replaces Tan Sri Dr Muhammad Rais Abdul Karim as Excel Force MSC’s independent and non-executive chairman. The IT services provider is controlled by Wong Thean Soon (16.26% stake) who also runs e-government services provider MyEG Services Bhd.
Additionally, Excel Force also counts Datuk Mohamed Nizam Abdul Razak – the brother of convicted former PM Najib Razak – as a substantial shareholder with a stake of 7.83% (as of March 31, 2022).
At the close of yesterday’s (May 10) trading, Excel Force was up 1.5 sen or 4.35% to 36 sen with 973, 200 shares traded, thus valuing the company at RM201 mil.
Meanwhile, 24-hour convenient store 7-Eleven is controlled by tycoon Tan Sri Vincent Tan Chee Yioun while stockbroking firm Apex Equity has been reportedly linked to the late Lim Siew Kim, daughter of Genting Group founder Tan Sri Lim Goh Tong.
“So what? Why associate him with Anwar when he’s no longer with a party or government,” berated netizen Abdul Aziz bin Abdullah (@AbdulAz67039163) in response to a Twitter thread by emmanuelsamarathisa (@esshimself).
“This guy is a well-educated person opting to go into businesses after his failure to secure any position in PKR. It’s a private matter. All the best for him.”
Kskira (@kskira888) seconded, noting that Farhash was an “ex-political secretary” and “these companies are not even GLCs (government-linked companies) so they are free to appoint whoever they want”.
“So, how does this link to what you are trying to portray as political appointment?” she chided.
Netizen the hazxman (@hazxman) opined that it is fine on grounds that the three companies are not GLCs and so long as they are not getting “any direct negotiation tenders from Farhash’s appointment”.
“So, what’s the hoo-ha … you can become one if you are a good opportunist,” added GonZales (@zales_g).
Interestingly, whistleblower-cum-investigative journalist Lalitha Kunaratnam’ recalled that “in 2016, a top enforcement officer held 2.2 million warrants in Excel Force MSC”.
“It’s a small world. Meanwhile, Edisi Firma Sdn Bhd was listed as one of the major shareholders of Excel Force and guess who owned 95% of Edisi Firma back then? Small world but a dangerous one. Stay safe,” she tweeted.
Eddie LFC 19X (@lfc_eddie) reckoned the whole episode pertaining to Farhash’s appointment as a “pay day for loyalists and cronies”. “Why can’t our ministers make their cronies and aides to turn down offers? It’s ethics,” he opined.
Perhaps Negaraku (@wasabi1388) summed up best with his observation:
“The need for strong political cables for good businesses in Malaysia is unavoidable! Surely, he’s still well connected with PKR and no way DSAI (Anwar) will just abandon him after his loyal services to PKR for several years! By the way, there’s no such thing as clean in politics!” – May 11, 2023
