KUALA LUMPUR (Feb 18): Able Group Bhd (KL:ABLEGLOB) said on Tuesday that its chairman Ng Keng Hoe and chief executive officer Edward Goh Swee Wang have been released from remand, in an ongoing investigation by the Malaysian Anti-Corruption Commission (MACC).

The dairy manufacturer and tin can maker has said the remand was related to matters concerning Ng’s private company affairs. Ng was remanded on Feb 13, followed by Goh on Feb 14, to assist in the investigation.

However, the company did not disclose any details regarding the outcome of the probe. The Edge has reached out to the MACC for comments.

Able Global, in a filing with Bursa Malaysia, reiterated that its CEO is not in a position to comment on the investigation. It said Goh has since resumed his duties, and business operations of the company continue as usual.

“Additionally, the company has been informed that Mr Ng has also been released from remand by the MACC,” it said.

The company added that it remains committed to upholding the highest standards of corporate governance and transparency.

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.

Able Global shares closed unchanged at RM1.51 on Tuesday, giving the company a market capitalisation of RM464.4 million. The counter has fallen 17.5% since Feb 13.

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