KUALA LUMPUR (Aug 19): Alam Maritim Resources Bhd (KL:ALAM) said on Wednesday that its group managing director and chief executive officer Datuk Azmi Ahmad has been released from Malaysian Anti-Corruption Commission (MACC) custody, two days after he was remanded.

In a bourse filing, the offshore marine services provider said Azmi would immediately resume his executive roles and leadership responsibilities within the group.

“The day-to-day business operations, financial position, and strategic governance of the company remain entirely stable and unaffected,” it said.

The company, however, did not reveal information on the investigation by the anti-graft agency.

On Monday, Alam Maritim announced that Azmi had been remanded to facilitate an ongoing investigation by the MACC.

Azmi’s detention comes as the MACC steps up its probe into findings from the Royal Commission of Inquiry (RCI) report on Lembaga Tabung Haji.

The RCI noted that about RM278 million had been impaired on Tabung Haji’s investments in Alam Maritim and TH Marine Group, which were made as part of an expansion into the offshore support vessel business. A subsequent recovery assessment estimated that only RM70.4 million of the investments’ value could potentially be recovered.

Shares of Alam Maritim ended unchanged at 23 sen on Wednesday, giving the company a market capitalisation of RM102.5 million.

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