Farhash Wafa Denies Role in NexG Boardroom Tussle, PM Anwar Intervention Claimed

Businessman Farhash Wafa Salvador Disputes Claims of NexG Power Play

Malaysian businessman Farhash Wafa Salvador, a former political aide to Prime Minister Anwar Ibrahim, has publicly refuted allegations that he attempted to gain control of NexG Berhad, a key technology provider to the Malaysian government. The denial came in a letter of demand issued by his legal counsel to Channel News Asia (CNA) on Friday, March 13, 2026, following a CNA report suggesting Prime Minister Ibrahim intervened to halt a corporate confrontation. The dispute centers on control of NexG, a company with billions in government contracts and pits Salvador against veteran corporate figure Ishak Ismail, a long-time Anwar Ibrahim associate.

The Core of the Dispute: Control of NexG

The CNA report, published November 21, 2025, initially highlighted a power struggle brewing within NexG, with Ishak Ismail acquiring a significant 25% stake in the company. While Farhash Wafa Salvador doesn’t hold a direct stake in NexG, his connection stems from a 20% ownership in MMAG Holdings, a logistics firm where NexG holds a 10% interest. The CNA report alleged that Prime Minister Anwar Ibrahim directed Salvador to cease efforts to take control of NexG, effectively paving the way for Ishak Ismail to assume a leading role. This claim is now at the heart of the legal challenge.

Farhash’s Firm Denial and Legal Action

Farhash, through his lawyers at Shankar Govinth, vehemently denies any involvement in a campaign to control NexG. The letter of demand asserts that he “has no knowledge whatsoever of the matters alleged in the article” and that he never instructed anyone to pursue such an action. Crucially, the letter also states that Farhash received no communication or directive from Prime Minister Anwar Ibrahim regarding NexG. The lawyers have demanded a retraction of the CNA article and a halt to its further dissemination, warning of potential legal action if the demands are not met within two days.

What Each Side Wants: A Battle for Influence

The conflict appears to be a clash between two influential figures within Anwar Ibrahim’s circle. Ishak Ismail, described as a veteran corporate figure and long-time advisor to the Prime Minister, has positioned himself to lead NexG after acquiring a substantial equity interest. Farhash Wafa Salvador, having rapidly risen in corporate Malaysia through strategic investments and board appointments, seemingly sought a different path for the company. While the specific objectives of each party remain somewhat unclear, the dispute clearly revolves around control and direction of a company central to Malaysia’s technology infrastructure.

NexG’s Evolution and Current Position

NexG’s origins lie in Datasonic Group, incorporated in 2008 and listed on Bursa Malaysia in 2012. Initially focused on border security systems – supplying smart ID cards, passport chips, and high-security personalization solutions – the company underwent a rebranding as NexG in February 2025. This transition coincided with a period of shareholding changes and complex crossholdings, involving figures like Victor Chin Boon Long, whose businesses span logistics and fintech. Chin brought Farhash into his network when Farhash acquired a stake in MMAG Holdings, a logistics firm in which NexG owns 10%. The company’s evolution reflects a broader shift towards becoming a comprehensive technology solutions provider for the Malaysian government.

Confirmed vs. Unclear: Separating Fact from Allegation

Several key details remain contested. It’s confirmed that:

Farhash Wafa Salvador issued a letter of demand to CNA.
CNA reported on a power struggle between Farhash and Ishak Ismail for control of NexG.
Ishak Ismail acquired a 25% stake in NexG.
Farhash holds a 20% stake in MMAG Holdings, which owns 10% of NexG.
Six NexG board members aligned with Farhash resigned on March 11.

However, it remains unclear:

Whether Prime Minister Anwar Ibrahim directly instructed Farhash to withdraw from pursuing control of NexG.
The specific reasons behind the mass resignation of the NexG board members.
The full extent of the political motivations driving the dispute.
Whether CNA will comply with the demands for retraction and cessation of dissemination.

The Process: Corporate Governance and Shareholder Disputes in Malaysia

Corporate disputes like this one typically unfold through a combination of boardroom maneuvering, shareholder resolutions, and potentially, legal action. In Malaysia, the Companies Act 1965 governs corporate governance and shareholder rights. When disagreements arise, shareholders can initiate resolutions to challenge management decisions or seek changes in company direction. If these resolutions fail, shareholders may pursue legal remedies through the courts. The resignation of board members often signals a breakdown in consensus and can escalate tensions. The involvement of political figures adds another layer of complexity, potentially influencing the regulatory response and public perception.

Political and Strategic Implications

The NexG dispute carries significant political implications. Prime Minister Anwar Ibrahim’s administration is already navigating other high-profile corporate controversies, and a protracted battle for control of a key technology provider could further destabilize the political landscape. The involvement of two close allies – Farhash and Ishak – underscores the internal dynamics within Anwar’s inner circle. The outcome of this dispute could shape the future of NexG and its role in delivering critical technology solutions to the Malaysian government. The case highlights the intersection of business, politics, and government contracts in Malaysia.

What Happens Next?

The immediate next step hinges on CNA’s response to the letter of demand. If CNA refuses to retract the article, Farhash Wafa Salvador is likely to pursue legal action. Simultaneously, the corporate governance of NexG will be under intense scrutiny. The company’s board will necessitate to address the vacancies created by the recent resignations and navigate the ongoing power struggle. Further developments are expected to be closely monitored by investors, regulators, and the public, particularly given NexG’s crucial role in Malaysia’s technology infrastructure. The Bursa Malaysia, Malaysia’s stock exchange, will also be watching closely for any regulatory breaches or market manipulation.

[1] 2 Anwar acolytes spar over government’s tech provider NexG … – CNA (via duckduckgo) – https://www.channelnewsasia.com/asia/malaysia-nexg-anwar-ibrahim-farhash-wafa-ishak-ismail-5479871 [2] Farhash serves letter of demand to CNA over alleged PMX’s role in NexG (via duckduckgo) – https://focusmalaysia.my/farhash-serves-letter-of-demand-to-cna-over-alleged-pmxs-role-in-nexg/ [3] Farhash Lawyers Demand CNA Retract Article Relating Him To NEXG (via duckduckgo) – https://www.businesstoday.com.my/2026/03/15/farhash-lawyers-demand-cna-retract-article-relating-him-to-nexg/