Fertiliser firm Cropmate says frozen bank accounts released

 The company also says none of its employees, including its directors, have been arrested or charged.

Earlier this year, Cropmate Bhd confirmed that MACC froze several of its bank accounts and those of its subsidiaries as part of an ongoing investigation.

PETALING JAYA:

Fertiliser manufacturer and supplier Cropmate Bhd says its bank accounts, which were frozen by the authorities in April, have been released.

In a statement, the company also said that none of its directors, officers, employees or representatives had been arrested or charged.

“Cropmate also confirms that neither it nor any member of the group has been made the subject of any forfeiture proceedings in connection with the investigation.”

Earlier this year, Cropmate confirmed that the Malaysian Anti-Corruption Commission froze several of its bank accounts and those of its subsidiaries as part of an ongoing investigation.

The accounts were frozen under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

This evening, Cropmate managing director Lee Chin Yok said its operations continued without material disruption after its bank accounts were frozen.

“We have consistently maintained that the group remains committed to conducting its business with integrity, transparency and the highest standards of corporate governance.

“We will continue to cooperate fully with the relevant authorities whenever required while remaining focussed on creating long-term value for our shareholders and stakeholders.” - FMT