A Umno Terengganu leader has alleged that Terengganu PAS sold PTB Securities Sdn Bhd and that there was no transparency in the sale as it was not made public.

Terengganu Umno information bureau secretary Wan Hisham Wan Salleh, in making the allegation, said PTB Securities was sold to Mercury Securities Sdn Bhd, which conducts trading on all counters including non-Syariah counters.

PTB Securities Sdn Bhd is one of the two companies in the country to deal in securities based on the Syariah principles. The other is Bank Islam Securities Berhad.

"I don't understand why the PAS government which claims to champion Islam is willing to do such a thing. It is a great loss to the people of Terengganu as PTB Securities is an Islamic-based securities company that should be protected," Bernama quoted him as telling a news conference after attending a Hari Raya get-together organised by Kuala Terengganu Umno yesterday.

Licence taken back

Wan Hisham said that after the sale, PTB Sekurities had been asked to surrender its licence to the Securities Commission (SC).

He said he believed that many holders of Amanah Saham Darul Iman (ASDI) shares were not aware of the deal which took place last October.

"Morally, it's a shame and the people should have been told about it. I believe it was not done transparently because it was not made public. The fate of PTB Securities employees is also still in the dark," Wan Hisham added.