Politicians slammed for endorsing PLCs’ business deals

[superadmin]

PETALING JAYA: Politicians and government ministers have been urged to refrain from publicly endorsing business deals of public-listed companies (PLCs), especially via social media channels.

Such declarations of support for a particular company or product is potentially a conflict of interest, or in extreme circumstances, may be deemed as corruption.

Even more concerning is the presence of unscrupulous groups or individuals who take advantage of such pronouncements to run up the share prices of the PLCs concerned to make a quick “killing”, at the expense of unsuspecting investors.

“Politicians and ministers must be aware of the consequences of their statements on the share price of PLCs and its impact on the fair and orderly trading of the shares,” Minority Shareholders Watch Group (MSWG) CEO Devanesan Evanson told FMT Business.

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