SIBU: Ta Ann Holdings Bhd is confident that it will not run foul with the law although two of its timber subsidiary companies are under investigation by Malaysian Anti-Corruption Commission for allegedly possession of illegal logs.
Executive chairman Datuk Amar Abdul Hamed Sepawi said after its annual general meeting yesterday that though the investigation by MACC was still under way for 90 days, “it is business as usual for us”.
“We are confident with ourselves as we have gone through quite a lot of legal verification done by local and international bodies such as Global Forestry Services’ Legal Verification Services for the last three to four years. We are also quite open to anyone to see how we do it from the logs we purchased to utilisation,” he told reporters.
All of its logs, he said, had the royalty mark and approved documents from the Forestry Department.
He added that a lot of work had been done by the company to ensure that all of its logs go through verification and auditing right from the forest to the factory.
Hamed said most of the logs for its factories were from its own forest concession area while about 10% were from independent logs sellers and that were also from legal sources.
“We exported 100% of our product overseas and our buyers have also send people to see that legal verification on logs is done accordingly. So for us, we are confident that at the end of the day Ta Ann Group should be able to go on business as it is,” he added.
As for the Gawai Dayak celebration, he said all of its staff pay were not affected by the freezing of their account by MACC. – By ANDY CHUA