Icon Offshore CEO and COO released

PETALING JAYA: Icon Offshore Bhd's CEO Dr Jamal Yusof and COO Rahman Yusof were released by the Malaysian Anti-Corruption Commission last Friday.
The company said it was notified by the legal counsel representing the two executives on the release, which is subject to an oral undertaking in the sum of RM100,000 by two sureties.
"We will make further announcement should there be any material development on the matter," Icon Offshore told Bursa Malaysia last Friday.
In a separate statement, Ekuinas Nasional Bhd said it "not able to provide any additional comments" on the remand of Icon Offshore's two exectives.
"With regards to the above and pursuant to some media enquiries, we wish to highlight that whilst Icon Offshore Bhd is a portfolio company of Ekuinas, it is a public listed company governed by its own board of directors," it said.
Ekuinas said it always endeavours to adhere to the highest standard of corporate governance and transparency in its own operations and always emphasises upon the enhancement of governance standards and promotion of ethical practices as part of its value creation plans at its portfolio companies.
"Ekuinas takes serious exception to any breaches in policies and integrity within its portfolio companies and supports Icon's Board position that it will not hesitate to take appropriate action as and when necessary, if any breach is found. As such, Ekuinas would be pleased to assist MACC in any investigations if required," it said.
Ekuinas said it as a substantial shareholder of Icon Offshore reiterate its strong belief in oil and gas service provider and its future.
"The company remains the largest Malaysian pure-play Offshore Support Vessel (OSV) company built through the successful merger of two mid-sized bumiputera companies. Ekuinas continues to see significant long term value in Icon and is committed to supporting the company through the current challenges faced to judiciously grow the business further," it added.