KUALA LUMPUR (July 16): Klang-based fertiliser manufacturer Cropmate Bhd’s (KL:CRPMATE) affected bank accounts belonging to the company and its subsidiaries have been unfrozen by the Malaysian Anti-Corruption Commission (MACC).
The fertiliser company, in a bourse filing on Thursday, added that none of its directors, officers, employees or representatives had been arrested or charged with any offence arising from the matter.
Cropmate said neither the company nor its subsidiaries had been made the subject of any forfeiture proceedings in connection with the MACC investigation.
The issue first surfaced in late April after the company disclosed that the MACC had frozen several accounts belonging to the company and its subsidiaries under anti-money laundering laws as part of an investigation involving about RM12.21 million in funds.
The company had challenged the freeze. It maintained that it had access to alternative banking facilities to continue operations, while stating it was not aware of any wrongdoing.
At market close on Thursday, Cropmate’s share price was unchanged at 19.5 sen, with a market capitalisation of RM144 million.
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