KUALA LUMPUR (June 26): Rohas Tecnic Bhd (KL:ROHAS) said the Malaysian Anti-Corruption Commission (MACC) has revoked all seizure orders imposed on the bank accounts of its subsidiary, HG Power Transmission Sdn Bhd (HGPT), as well as the personal bank accounts of the unit's current officer and former officers.
In a Bursa Malaysia filing on Friday, the engineering and infrastructure group said HGPT, together with its current officer and former officers, received the revocation orders on June 26 pursuant to Section 50(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
The revocation orders lift the corresponding seizure orders previously issued under the same provision covering all of HGPT's bank accounts and the personal bank accounts of its current and former officers.
"Accordingly, all bank accounts that were previously subject to the seizure orders have been released and HGPT is free to resume normal operation of its banking facilities and business activities," the company said.
The seizure orders stemmed from an MACC investigation into a 2015 contract involving HGPT, which Rohas Tecnic acquired in 2017. On Oct 17, 2025, the group disclosed that the anti-graft agency had issued freezing and seizure orders affecting certain bank accounts held by Rohas Tecnic, HGPT and its wholly owned subsidiary, Rohas-Euco Industries Sdn Bhd (REI).
Rohas Tecnic acquired its 86.8% stake in HGPT in 2017 for RM91.66 million, comprising RM22.5 million in cash and 72.8 million new Rohas Tecnic shares issued at 95 sen each.
The stake was purchased from an indirect unit of Navis Capital Partners Ltd, which held 50.1%, and Kemuncak Agresif (M) Sdn Bhd, which owned the remaining 49.9% and was controlled by Baskar Sharma PDR Nathan at the time of the transaction.
Shares of Rohas Tecnic closed a sen or 5.3% lower at 18 sen on Friday, giving the company a market capitalisation of RM85 million. The stock has fallen 23.4% over the past year.