KUALA LUMPUR (Feb 14): Able Global Bhd (KL:ABLEGLOB) said on Friday that an anti-graft investigation into its chairman has also snagged its chief executive officer Edward Goh Swee Wang.

Goh has been remanded by the Malaysian Anti-Corruption Commission (MACC) to facilitate an ongoing investigation in relation to executive chairman Ng Keng Hoe, Able Global said in an exchange filing. The investigation is related to Ng's private company matters, it said.

“During the course of this ongoing investigation, the company and its personnel remain committed to fully cooperating with the relevant authorities to facilitate a swift and efficient resolution,” Able Global said.

Both Goh and Ng are substantial shareholders of Able Global. Goh controls a 19.28% stake together with his father Goh Mia Kwong, while Ng has a 12.46% stake, according to the company’s latest annual report.

Prior to the remand on Goh, Able Global had announced that its board and key senior management will collectively take over Ng’s suspended administrative and executive functions.

An interim working management committee comprising key senior management and board’s representatives was also established to oversee executive functions of Ng and support the company’s ongoing operations.

“The company wishes to reaffirm its dedication to upholding the highest standards of integrity and corporate governance,” the tin can maker and dairy product producer added.

Able Global reiterated that the company continues to operate as usual, which it said ensures business continuity while also adhering to its core values of transparency and accountability.

Shares of Able Global rebounded on Friday following a 16% decline over the past two days. Able Global was last up four sen or 2.61% to RM1.57, valuing the company at RM487.44 million.

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