On reported links to Muhyiddin’s son-in-law Datuk Muhamad Adlan Berhan, Syed Hafiz clarifies that they have known each other for quite some time and share the same circle of friends. To the question of, if any of the political connections — including Adlan — is involved in S5, Syed Hafiz replies, “No.”Syed Hafiz is the controlling shareholder of S5 with a 76.38% stake in the company’s holding company, S5 Holdings Inc. On his investment in S5, Syed Hafiz declines to disclose the takeover value. On whether the exercise is still on, Syed Hafiz says, “Yes, we have been quiet for quite some time but it (the RTO) is still ongoing. Syed Hafiz also sees business potential in fintech and plans to venture deeper into the sector.

Source: The Edge Markets March 23, 2021 09:11 UTC