MACC probe found no offence — Ta Ann

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This article first appeared in The Edge Financial Daily, on November 18, 2015.


KUALA LUMPUR: Ta Ann Holdings Bhd said the Malaysian Anti-Corruption Commission (MACC) has confirmed that its checking found no evidence to show that Ta Ann and its group of companies were involved in any illegal logging activities under the Malaysian Anti-Corruption Act 2009.

“We wish to advise that MACC has confirmed their checking and found no evidence to show that the companies were involved in any offence under the Act,” it told Bursa Malaysia yesterday.

On May 13, Ta Ann said the group and two of its subsidiaries, Ta Ann Plywood Sdn Bhd and Lik Shen Sawmill Sdn Bhd, were cooperating fully with the MACC’s state-wide investigation into illegal logging activities in Sarawak, which started on May 12. Later, on Aug 28, Ta Ann said the freeze on certain of its bank accounts by the anti-graft agency had been uplifted.