Tuesday 28 May 2024
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KUALA LUMPUR (Oct 19): The board of directors of electronic solutions provider My EG Services Bhd (MyEG), whose stock was hammered today following news that it was named in the charges brought against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi, says the company has never made any payments to anyone to secure any concession from the government.

In a stock exchange filing today, the company, which lost over a billion ringgit in market cap following its stock plunge today, also clarified that it is not a party to the 45 charges that have been filed against Zahid.

It also stressed that it has no knowledge of the company, Mastoro Kenny IT Consultant & Services, which was named in some of the charges, or the company's board of directors. It has also never been in contact with any representatives from the company or its board. 

It also said it has no knowledge of any dealings between Mastoro and Zahid, and 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.

The company added that it is seeking clarification from the Malaysian Anti-Corruption Commission as to the details of the charges, and to confirm that the company and its board are not a party to the investigation that led to the charges that were made against Zahid. "An announcement will be released in regard to this clarification once MACC has replied," it added.

Of the 45 charges related to criminal breach of trust, graft and money laundering that Zahid has been 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.

MyEG's shares tumbled 37 sen or 24.7% to RM1.13 in the morning session after the news broke, before the stock was suspended from trading, to make way for the company's announcement. The stock will resume trading next Monday. It now has a market capitalisation of RM4.01 billion, down over RM1.33 billion versus yesterday's RM5.33 billion.

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