PETALING JAYA: Able Global Bhd
will be taking over the suspended administrative and executive functions of executive director and executive chairman Ng Keng Hoe, who has been remanded by the Malaysian Anti-Corruption Commission (MACC).
In a filing with Bursa Malaysia, the dairy manufacturer and tin can maker clarified that the MACC’s ongoing investigation pertains to Ng’s private company and at this juncture, is not related to Able Global or its group of companies.
“As an interim measure, the board and key senior management of the company shall collectively take over the suspended administrative and executive functions of Ng to ensure effective governance and continuity in leadership.
“Additionally, an interim working management committee composed of the key senior management and board’s representatives has been established to oversee executive functions of Ng and support the company’s ongoing operations.”
Able Global emphasised that it remains committed to maintaining “business as usual” and with all operations to continue uninterrupted.
“The company further assures all stakeholders that it remains focused on delivering value and upholding the highest standards of corporate governance and business integrity.
The company’s shares were suspended today after its last done price dropped by more than 15% or 15 sen from its reference price.
