KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has conducted a raid on NationGate Solution (M) Sdn Bhd, a subsidiary of NationGate Holdings Bhd, as part of an investigation into alleged scrap metal smuggling.
The company confirmed the raid in a Bursa Malaysia filing, stating it occurred on Monday.
NationGate emphasized its commitment to corporate governance and transparency, pledging full cooperation with authorities.
“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,“ the company said.
Despite the raid, NationGate assured stakeholders that business operations would continue smoothly, with interim measures in place to minimize disruptions.
The board also promised further updates in compliance with Bursa Malaysia’s listing requirements.
At midday trading, NationGate’s shares rose by eight sen to RM1.69, with over 27 million shares exchanged. The market response suggests investor confidence amid the ongoing probe. – Bernama
