Malaysiakini bosses tight-lipped about RM3mil diversion

Malaysiakini co-founder Premesh Chandran has been tight-lipped following last week’s revelation that the company founders had lodged a police report over an alleged diversion of RM3million funds by senior figures formerly with the company.

“The matter is still being investigated. Once we are ready, we will release what we know,” Premesh told Harapan Daily in a text message.

He also said that one of the suspects mentioned in the report, was a former staff who migrated to Canada two years ago.

In a copy of the police report sighted by Harapan Daily, the wrongdoing was reported to have taken place between March 2023 and March 2024.

Premesh also said another figure in question was not his immediate relative.

He also denied that the alleged unethical activities of the two key employees had an impact on a retrenchment exercise that the company carried out in October 2024.

“The retrenchment exercise was a board decision, not a decision by management,” said Premesh who co-founded Malaysiakini with Steven Gan in 1999.

Aside from the recent financial scandal, Malaysiakini reporter B Nantha Kumar was charged at the Shah Alam Sessions Court on March 14, 2025 with receiving RM20,000 in exchange for retracting and not uploading articles about a cartel involving foreign workers. 

“As I know, Nantha’s case is scheduled later this year,” said Premesh.

Harapan Daily also reached out to Malaysiakini Executive Editor RK Anand.

“As the matter is still under investigation, we cannot comment further beyond what was stated in the board’s statement,” said Anand.

On March 5, Malaysiakini published a brief statement that representatives of its board have filed a police report concerning the diversion of RM3,000,000 from its subsidiaries.

According to the statement, the diversion was from third-party entities suspected of running unlicensed investment schemes.

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