KUALA LUMPUR (April 16): ACE Market-listed MAG Holdings Bhd has denied any connections to four men who were arrested for beating up two bodyguards who were fasting.

In a press release, the group clarified that Chung Chee Yang, who was identified as one of the suspects in viral postings, is not part of the company’s management or its board of directors.

He was only a shareholder for a short period in 2019, and has ceased to be a shareholder since then.

“MAG is run by management of professionals. As a listed company, the group has no control over the interests of the public to invest in its shares and that the management and board will continue to focus on growing the company in the aquaculture industry.

“MAG has allowed working flexibility for all of its Muslim employees who are fasting during the fasting month of Ramadan,” it said.

MAG, which is one of the largest prawn farmers in Malaysia, was down half a sen or 2.5% to 19.5 sen at the time of writing, giving it a market capitalisation of RM150.26 million.