PETALING JAYA: Malaysiakini known for investigating scandals is fuming over the apparent inability to detect the loss of RM3 million from its coffers by its own employees.
Its Group board of directors has lodged a police report after discovering that RM3 million from its subsidiaries had been diverted to third-party entities suspected of operating unlicensed investment schemes.
Advertisement
In a statement, Mkini Group, which runs Malaysiakini, said the funds were diverted between March 2023 and March 2024, but remained undetected until recently as the audited company accounts claimed they were in a “fixed deposit placed with a licensed bank”.
It also said the diversion of the funds was “enabled” by former key employees of Malaysiakini.
They are believed to be one of its managers who is said to be a relative of one of the co-founders and a foreigner who had been handling financial matters and is believed to have fled the country.
Steven Gan and Premesh Chandran, who serve as non-executive directors of the Mkini Group, expressed their deepest disappointment and regret.
“We are extremely devastated by these unauthorised actions,” said Gan, a former editor-in-chief.
“To be betrayed by some of our most trusted staff members is a heavy blow. We are determined to recover the funds and tighten oversight to prevent any recurrence.”
Premesh, a former CEO, said that while the diversion of funds affected the company’s finances, Malaysiakini’s core operations remain unaffected.
“Diverting these funds – perpetrated by former colleagues – severely damages our resilience, and distracts from our mission to speak truth to power,” he added.
