MyEG says not subject of any corruption investigation by MACC

MyEG says not subject of any corruption investigation by MACC
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KUALA LUMPUR (May 25): My EG Services Bhd (MyEG) has clarified that neither the company nor any of its directors was the subject of any investigation by the Malaysian Anti-Corruption Commission (MACC).

"The board reiterates that the company is not the subject of any investigation whatsoever, past or present, being carried out by MACC on it or on any of its directors," MyEG said in a strongly-worded statement, which was filed with Bursa Malaysia today.

"The board of directors wishes to clarify that all information in the article pertaining to rumours of alleged action being taken by MACC are completely baseless and fictitious," added MyEG, a technology solutions company specialising in providing electronic government services.

According to MyEG, its board of directors takes a serious view of anyone spreading erroneous rumours and will not hesitate to take further action, such as lodging a report with the Royal Malaysian Police.

"Any material developments pertaining to the company or its board have been and will continue to be disclosed in a timely manner through official proper channels," it added.

In this respect, MyEG said the public is advised to disregard any information about the company or its board that are unverified and not released through proper channels.

MyEG referred to an article by theedgemarkets.com, and provided an additional clarification on the alleged office raid by MACC, a graft-buster agency.

Citing a report by UOB Kay Hian Securities (M) Sdn Bhd, the article stated MyEG had been suffering from intense selling pressure, as a result of rumours that MACC had raided its head office, while the entire board of directors had been arrested.

The article added UOB Kay Hian had in the report said the rumours were untrue.

"Based on our channel checks with management, the rumour was baseless and untrue. They have also guided that all operations are 'business as usual'," UOB Kay Hian analyst Vincent Khoo wrote, adding the allegations hurled at MyEG were "malicious" and "baseless".

MyEG shares dropped 3 sen or 3.77% to close at 76.5 sen, for a market capitalisation of RM2.76 billion.