KUALA LUMPUR (July 3): Engineering and infrastructure services provider Rohas Tecnic Bhd (KL:ROHAS) said the Malaysian Anti-Corruption Commission (MACC) has concluded its investigation into its subsidiary, HG Power Transmission Sdn Bhd (HGPT), with no further action to be taken against the company or its personnel.
In a Bursa Malaysia filing on Friday, the group said HGPT received a letter from the MACC confirming that the investigation had been completed and that no charges, prosecution or enforcement action would be taken against HGPT, its shareholders, directors and former directors.
The development follows earlier related actions reported by the group, including the lifting of MACC seizure orders on HGPT’s bank accounts and accounts of its current and former personnel in June, which allowed the subsidiary to resume normal banking operations.
According to earlier disclosures, the MACC probe was linked to a 2015 contract involving HGPT, which Rohas Tecnic acquired in 2017. The group had previously stated that the matter was isolated and unrelated to its current operations and contracts.
Rohas Tecnic said the conclusion of the investigation provides certainty for the group and its stakeholders, while bringing the matter to a close.
The company also said it remains committed to maintaining strong corporate governance, integrity and regulatory compliance in its operations.
Rohas Tecnic’s share price closed up 4.88% to 21.5 sen on Friday, valuing the company at RM101.6 million. Over the past year, the counter is down 12.8%.