KUALA LUMPUR, March 6 – Independent news portal Malaysiakini revealed that RM3 million from its subsidiaries was allegedly diverted to third-party entities suspected of running unlicensed investment schemes.
In a statement on March 5, the board of Mkini Group Sdn Bhd said the funds were misappropriated between March 2023 and March 2024 by former key employees. The issue came to light following an internal investigation supported by independent legal counsel and financial consultants.
After which a police report was lodged. Co-founders Steven Gan and Premesh Chandran expressed shock over the incident, describing the actions as a serious betrayal by trusted staff. While the loss has impacted the company’s financial reserves.
Premesh said the portal’s core operations remain unaffected. The board added that remedial measures are underway and further updates will be provided as investigations and possible legal proceedings continue.
