Chinese businessman denies intentionally concealing stake in Bumiputera firm

KUALA LUMPUR — Businessman Lian Tan Chuan told the court on Tuesday that his substantial shareholding in the Bumiputera-linked company was not deliberately obscured from authorities. Lian's testimony comes as part of ongoing legal proceedings examining the circumstances surrounding the company's classification and operations during Muhyiddin's tenure in office. The case centres on questions about the legitimacy of the firm's Bumiputera designation, a status typically reserved for companies with indigenous Malaysian ownership and control. Lian stated that the disclosure of his equity stake followed normal business procedures and regulatory requirements. The testimony is expected to shed light on the extent of transparency maintained in the company's corporate structure and whether proper authorities were notified of the full ownership composition. The proceedings are part of broader investigations into corporate governance and Bumiputera policy compliance during the relevant period.