KUALA LUMPUR: Econpile Holdings Bhd
has clarified that neither the company nor its wholly owned subsidiary Econpile (M) Sdn Bhd (EMSB) has been charged in relation to the money laundering case involving Maju Holdings Sdn Bhd director Tan Sri Abu Sahid Mohamed.
In a filing with Bursa Malaysia yesterday, the company issued the clarification following media reports on Sept 8, stating that Abu Sahid was charged with 13 counts of money laundering involving RM139.2mil – including transfers of RM42.89mil in 2017 and RM34.68mil in 2018 to EMSB.
“The board of directors of Econpile Holdings wishes to clarify that since 2019, EMSB has initiated various legal actions against ASM Development (KL) Sdn Bhd, a company related to Abu Sahid, to recover amounts due for work performed for the Maju Kuala Lumpur project, which were announced and updated to the shareholders regularly.
“Payments received by EMSB prior to the legal action were for work performed on this project,” it said.
The company also emphasised that its business operations remain unaffected following due inquiry with the board of directors and senior management.
On Monday, Abu Sahid, as the owner of Maju Expressway, was charged with a total of 17 counts of criminal breach of trust and money laundering related to the MEX II Highway project. — Bernama
