PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has initiated an inquiry against an employee of Sunway Construction Group Bhd
(SunCon), the construction firm announced to the stock exchange yesterday.
According to the statement, the inquiry was specifically in relation to the employee’s engagements with certain subcontractors.
“SunCon wishes to clarify that this isolated investigation does not concern the way SunCon Group secures contracts from its clients.”
It added that the investigation has no financial and operational impact on the SunCon group.
Meanwhile, SunCon said it will refrain from further comment due to the inquiry falling under the jurisdiction of the MACC.
The company said it is in full cooperation with the MACC in its investigation, and is seeking legal counsel to evaluate the appropriate actions to be taken on certain sub-contracts and parties.
“SunCon affirms its unwavering commitment to the highest standards of integrity and transparency across SunCon group’s operations. We maintain a zero-tolerance policy towards bribery, corruption, and any practices that compromise ethical conduct,” it added.
The share price of the construction firm fell 8.2% to RM5.49 at the close yesterday.
Bursa Malaysia had earlier announced that intraday short-selling of SunCon’s shares had been suspended for the remainder of the day, following a drop of more than 15% in its share value.
