Umno urged to sell off assets amid freeze on funds

Umno Youth vice-chief Shahril Hamdan. (Facebook pic)

KUALA LUMPUR: An Umno leader today urged the party leadership to consider selling off some of its assets to generate money for day to day operations of its branches nationwide.

Umno Youth vice-chief Shahril Hamdan said the proposal, if carried out, could help the party in the wake of a freeze on Umno accounts by the authorities over investigations linked to the 1MDB scandal.

“Our accounts are frozen but our assets are in the millions.

“Why not liquidify the assets and give Umno branches the money to cover at least their basic costs?” he told Youth members today ahead of the Umno general assembly.

It was reported that the Malaysian Anti-Corruption Commission (MACC) has frozen 900 bank accounts linked to Umno over their connection with funds from 1MDB entities.