KUALA LUMPUR (April 28): Cropmate Bhd (KL:CRPMATE), a fertiliser manufacturer, disclosed that approximately RM12.21 million held in its bank accounts including its major subsidiary have been frozen by the Malaysian Anti-Corruption Commission (MACC), citing legal steps are underway to address the matter.
In its update of the ongoing probe with Bursa Malaysia on Tuesday, the group has hired Datuk Hisyam Teh Poh Teik as its lead counsel with Mustafa, Ling & Co as its solicitors on record to address the matter.
Cropmate noted that the legal representatives have prepared and submitted the representation letter to the MACC, requesting the unfreezing of Cropmate’s and its subsidiary, Cropmate Fertilizer Sdn Bhd’s bank accounts.
“The group will continue to monitor the development of this matter and will make timely disclosures should there be any material updates,” Cropmate said in its bourse filing.
The group was informed on April 24, 2026 that certain bank accounts had been frozen by the MACC under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
Cropmate also noted that it has alternative banking facilities to support its ongoing business activities and the operations remain unaffected.
Cropmate understands that the issuance of such an order represents a standard procedure during the course of such probes.
It added that the group has access to alternative banking facilities to support its ongoing business activities.
At the time of writing, Cropmate’s share price were down one sen or 2.5% at 19.5 sen, with a market capitalisation of RM 143.9 million.