KUALA LUMPUR: Mayu Global Group Bhd
has announced that it is currently seeking legal advice regarding the freeze order issued by the Malaysian Anti-Corruption Commission concerning the bank accounts of its subsidiary, Sunrise Manner Sdn Bhd (SMSB).
The bank account of SMSB was frozen under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613).
Under this legislation, authorities have the power to freeze assets as part of an investigation into suspected offences.
The steel products maker said in a filing with Bursa Malaysia that it will undertake all necessary actions to safeguard the interests of the company and its shareholders.
“Management is committed to implementing the recommended improvements, which include refining internal policies and enhancing monitoring mechanisms,” said Mayu Global. — Bernama
