LATEST NEWS   Contract to host Malaysian MotoGP at Sepang International Circuit extended by five years until 2031 - Youth and Sports Minister | Malaysia must prepare its workforce for the AI era through better education, skills training and talent development - PM Anwar | Ant International’s decision to establish its global operations centre in Malaysia reflects growing confidence in the country’s strengths in technology, innovation and AI - PM Anwar | Technology, finance and innovation must create quality jobs, strengthen local industries, support businesses and improve access to affordable services - PM Anwar | Over 59,000 former PSD-sponsored students who graduated on or before Dec 31 2024 are eligible to apply for the Second Phase Academic PBU Option - PSD | 
BUSINESS • 15/07/2025 04:09 PM

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

 

More News

Categories

Tags