Lagenda Properties confirms senior personnel remanded by MACC; shares tumble 29.52%


KUALA LUMPUR: Lagenda Properties Bhd has confirmed that a senior personnel has been remanded by the Malaysian Anti-Corruption Commission (MACC).

“The board of Lagenda wishes to notify that it has become aware of news reports that the MACC has granted a 4-day remand order involving a senior personality of the company, to assist MACC in its investigation with regards to an ongoing investigation involving land dealings,” Lagenda Properties said in a reply to Bursa Malaysia’s unusual market activity (UMA) queries.

The developer has convened an emergency board meeting this afternoon to assess the implications of the situation on the group’s operations, its shareholders, and other stakeholders who may be affected directly and indirectly.

It said the purpose is to determine the possible course of action to be taken.

“The board wishes to inform our stakeholders that this investigation is isolated from Lagenda’s business operations. The board wishes to inform the shareholders and other stakeholders that the operations of the group remain unaffected by the above event.

“The group’s various operating units have been and are under the care of the various unit heads with proven track records. The board shall provide all assistance and cooperation to the appropriate authorities, if required,” Lagenda Properties said.

Lagenda Properties hit limit down, diving 49 sen or 29.52% to RM1.17. Bursa Securities has suspended its intraday short-selling (IDSS).

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Lagenda Properties , MACC

   

Next In Business News

VS rewards shareholders with proposed 1-for-10 bonus issue of warrants
Systech partners with EISSB for AI data centers and solutions
Ringgit ends flat versus US dollar
Setting the stage for gig workers
Exploring fuel alternatives
Tengku Zafrul: Embrace AI to achieve significant productivity improvements
Is the market rally sustainable?
Sunway to acquire shares in Daiwa Sunway Development for RM25mil
Subsidy cuts a necessary ‘evil’
MBSB Bank committed to helping authorities nab syndicate

Others Also Read