MyEG: MACC confirmed we're not involved in the graft probes against Zahid

MyEG: MACC confirmed we're not involved in the graft probes against Zahid
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KUALA LUMPUR (Oct 19): Electronic solutions provider MyEG Services Bhd (MyEG) says the company has received a confirmation from Malaysia's anti-graft commission that neither the company nor its board of directors are under investigation in relation to the charges brought against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi.

The company is also not a party to the investigation that led to the 45 charges that Zahid was slapped with this morning, it said in a stock exchange filing.

It said it has received a letter from the Malaysian Anti-Corruption Commission confirming and clarifying the above.

The company's stock was hammered today following news that it was named in some of the charges brought against Zahid.

It fell 37 sen or 24.7% to settle at RM1.13 in morning trades — which wiped out over RM1 billion in the company's market capitalisation — before trading in the stock was suspended to pave way for the company's announcements. The stock will resume trading next Monday.

Earlier today, MyEG denied any knowledge of the company Mastoro Kenny IT Consultant & Services, which was also named in some of the charges, saying it had never awarded any projects or had any dealings with Mastoro. "The company has never appointed any vendor or contractors in any of its dealings with the Ministry of Home Affairs," it said.

Of the 45 charges related to criminal breach of trust, graft and money laundering that Zahid was slapped with this morning, three of them alleged that Mastoro had given him a total of 24 cheques worth over RM13 million between July 15, 2016 and Feb 8, 2017 to secure contracts from MyEG.