Finance Minister defends Securities Commission's legal enforcement amid corporate mafia concerns
Finance Minister Amir Hamzah said the Securities Commission acts within its legal mandate, using criminal, civil or administrative measures to protect investors.
In a parliamentary hearing, Finance Minister Amir Hamzah clarified that the Securities Commission Malaysia operates strictly within the authority granted by the Capital Markets and Services Act, employing criminal, civil or administrative actions based on offence severity. He reported nine criminal convictions in 2025, court fines of RM13.1 million, civil disgorgements of RM20.1 million, and settlements adding RM9.08 million, with restitution of RM1.98 million to 239 investors and RM8.6 million for 933 others.
High-profile cases included a RM100.6 million judgment against Teh Poh Yee and associates, and a RM2.04 million order against Ang Beng Cheang. When questioned about alleged regulatory overreach into Companies Commission matters, Amir Hamzah affirmed that each regulator respects its own mandate and that coordination determines jurisdiction, dismissing the “corporate mafia” label.
Why it matters
The statement reassures investors and businesses that Malaysia's market regulator is acting lawfully and cooperatively.
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