Farhash disposes of shares in supply chain firm, resigns as chairperson

Prime Minister Anwar Ibrahim’s former aide, Farhash Wafa Salvador Rizal Mubarak, has resigned from MMAG Holdings Bhd and disposed of his entire shareholding.

His exit from the integrated supply chain management company came hardly a year after becoming the logistics firm’s largest shareholder.

The New Straits Times reported that the former Perak PKR chief stepped down as non-independent non-executive chairperson with effect from Jan 2, citing personal commitments.

According to Bursa Malaysia filings cited by the daily, MMAG said there were no disagreements with the board and no matters requiring shareholders’ attention.

A separate Bursa filing reportedly showed that Farhash ceased to be a substantial shareholder after disposing of 462 million shares via direct business transactions on Dec 31, 2025.

The report said Farhash became the biggest shareholder of MMAG in March last year, after buying 462 million shares, which is 20 percent of the company, in private deals at 40 sen per share. He was later made chairperson.

At the time, MMAG shares were trading between 60 and 70 sen, valuing the group at more than RM1.5 billion.

NST reported that MMAG’s share price has since fallen sharply following Farhash’s sudden exit, and that the company has yet to name a replacement chairperson.

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