MAYU Global Group Bhd said the Malaysian Anti-Corruption Commission (MACC) has summoned a director of its 80%-owned subsidiary, Sunrise Manner Sdn Bhd, and ordered the freezing of the subsidiary’s bank accounts.
In a bourse filing today, Mayu said Sunrise Manner director Tang Tiam Hok was called in by MACC on Sept 19 and 23 to assist in an ongoing investigation. “At this juncture, the board has been informed that no charges have been filed against Mr Tang,” the group added.
Separately, Sunrise Manner received freezing orders from MACC on Sept 23 under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The orders, which cover the subsidiary’s accounts with Maybank Islamic Bhd and CIMB Bank Bhd, are valid for 90 days.
Mayu said the freeze is not expected to have a material financial or operational impact on the group, based on its cash flow projections and existing hire purchase facilities.
On Aug 7, Mayu disclosed that two other subsidiaries, namely Progerex Sdn Bhd and SMPC Industries Sdn Bhd, had been approached by MACC as part of “Op Metal”, a crackdown on alleged scrap metal smuggling syndicates linked to enforcement bribery. Mayu stressed then that it was not involved in the import or export of steel scrap, noting that all its operations are domestic.
Separately, the group has also been subject to a police probe into the long-running MBI Group pyramid scheme, during which its bank accounts totaling RM10.67 million were frozen. Its executive director Tan Kim Hee was detained on April 2 this year and released without charges on April 7.
