Speaker rejects motion to refer Wee for disciplinary action
Published: Mar 6, 2025 5:39 PM
Updated: 8:39 PM
Summary
- The Dewan Rakyat speaker rejected a motion to refer Wee Ka Siong to the Parliamentary Rights and Privileges Committee over his claims that EPF lost RM500 million in the MAHB share buyback.
- Wee challenged Chong Zhemin to resign, as he previously vowed to quit politics if EPF suffered losses in the deal.
Dewan Rakyat Speaker Johari Abdul rejected a motion to refer Ayer Hitam MP Wee Ka Siong for disciplinary action by the Parliamentary Rights and Privileges Committee.
This was over Wee’s speech about the Employees’ Provident Fund’s buyback of Malaysia Airports Holdings Bhd shares.
Wee (above) said he received a copy of the letter by Johari to Kampar MP Chong Zhemin, who filed the motion, informing of the speaker’s decision.
“Today, on March 6, 2025, everything has been clarified, proving that I did not violate the meeting rules regarding the issue of the sale of MAHB shares by EPF.
“Thank you, Johari, for your wise decision,” Wee said in a Facebook post today.
The MCA president has been trading barbs with DAP’s Chong over whether the EPF incurred losses in its dealings involving MAHB shares.
Wee said EPF purchased them at RM2.50 per share in 1999 and sold them for RM6 per share in 2023. By buying them back at RM11 per share last year as part of a move to delist MAHB, the EPF would lose RM500 million.
This was over Wee’s speech about the Employees’ Provident Fund’s buyback of Malaysia Airports Holdings Bhd shares.
Wee (above) said he received a copy of the letter by Johari to Kampar MP Chong Zhemin, who filed the motion, informing of the speaker’s decision.
“Today, on March 6, 2025, everything has been clarified, proving that I did not violate the meeting rules regarding the issue of the sale of MAHB shares by EPF.
“Thank you, Johari, for your wise decision,” Wee said in a Facebook post today.
The MCA president has been trading barbs with DAP’s Chong over whether the EPF incurred losses in its dealings involving MAHB shares.
Wee said EPF purchased them at RM2.50 per share in 1999 and sold them for RM6 per share in 2023. By buying them back at RM11 per share last year as part of a move to delist MAHB, the EPF would lose RM500 million.
Kampar MP Chong Zhemin
Chong reportedly countered that EPF has already profited from MAHB shares, and buying back the shares is a strategic move in anticipation of future gains.
Finance Minister II Amir Hamzah Azizan also responded on Feb 20 stating that EPF had gained RM102 million from the sale of MAHB shares in 2023.
On that same day, Chong submitted a motion to Johari, which accused Wee of misleading the House on the issue and demanded action under Rule 36(6) and 36(12) of the Standing Orders, for which Wee submitted his explanation to Johari on Feb 27.
According to Wee, Johari wrote back to Chong, saying he found “no prima facie case” concerning matters raised in his motion.
‘When do you want to retire?’
Wee then challenged Chong to make good on his promise on Feb 5 to quit politics if EPF was proven to have suffered losses in the MAHB deal.
“Since YB Kampar promised in the Dewan Rakyat to resign if EPF lost even a single sen, he should now fulfill that promise to uphold the integrity of Parliament and ensure that the Dewan Rakyat is not misled by his words and promises.
“YB Kampar can no longer rely on the response from the finance minister II, who stated that EPF had made a profit of RM102 million from the sale of the shares, because the issue in question is not just the sale but the action of selling at a lower price and buying back the shares at a higher price.
“The response from the finance minister II only mentioned the profit from the sale part but does not address the profit or loss from the repurchase at a higher price.
“So YB Kampar, when do you want to retire?” he said.
Chong reportedly countered that EPF has already profited from MAHB shares, and buying back the shares is a strategic move in anticipation of future gains.
Finance Minister II Amir Hamzah Azizan also responded on Feb 20 stating that EPF had gained RM102 million from the sale of MAHB shares in 2023.
On that same day, Chong submitted a motion to Johari, which accused Wee of misleading the House on the issue and demanded action under Rule 36(6) and 36(12) of the Standing Orders, for which Wee submitted his explanation to Johari on Feb 27.
According to Wee, Johari wrote back to Chong, saying he found “no prima facie case” concerning matters raised in his motion.
‘When do you want to retire?’
Wee then challenged Chong to make good on his promise on Feb 5 to quit politics if EPF was proven to have suffered losses in the MAHB deal.
“Since YB Kampar promised in the Dewan Rakyat to resign if EPF lost even a single sen, he should now fulfill that promise to uphold the integrity of Parliament and ensure that the Dewan Rakyat is not misled by his words and promises.
“YB Kampar can no longer rely on the response from the finance minister II, who stated that EPF had made a profit of RM102 million from the sale of the shares, because the issue in question is not just the sale but the action of selling at a lower price and buying back the shares at a higher price.
“The response from the finance minister II only mentioned the profit from the sale part but does not address the profit or loss from the repurchase at a higher price.
“So YB Kampar, when do you want to retire?” he said.
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