MACC Raids NationGate Subsidiary Over Scrap Metal Smuggling Allegations

KUALA LUMPUR, July 15 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) has raided the premises of NationGate Holdings Bhd’s wholly-owned subsidiary, NationGate Solution (M) Sdn Bhd, as part of an ongoing investigation into allegations of scrap metal smuggling.

“The board views these allegations with utmost seriousness and has taken proactive steps to ensure full cooperation with the MACC and to safeguard the integrity of the investigation.

“Our company remains steadfast in its commitment to the highest standards of corporate governance, accountability, and transparency,” NationGate said in a Bursa Malaysia filing today, adding that the raid took place on Monday.

 It assured stakeholders that they will use their reasonable endeavours to ensure business operations remain unaffected, and appropriate interim measures have been put in place.

 The board will make further announcements on material developments in compliance with Bursa Malaysia Securities Bhd’s Listing Requirements and as required by law.

 At lunch break, NationGate’s share prices had risen by eight sen to RM1.69, with 27.12 million shares traded.

-- BERNAMA