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).

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Lagenda Properties , MACC


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