KUALA LUMPUR: Avillion Bhd yesterday assured investors that it was business as usual at the property and resort company, despite it and its subsidiaries appearing in a list of undeclared assets of former finance minister Tun Abdul Daim Zainuddin.
The company's share price fell 16.67 per cent to close at 5 sen yesterday after news broke that the company and its subsidiaries were part of 71 undeclared assets of Daim, listed by the Malaysian Anti-Corruption Commission (MACC).
In a filing with Bursa Malaysia Securities Bhd, Avillion said as a listed entity, it and its subsidiaries are governed by and in compliance with Bursa Malaysia's listing requirements, rules and guidelines. "The AVI Group has been operating and will continue to operate as a public company," Avillion said in its fiilng with the bourse.
As at the first half of financial year ending March 31, 2024, Avillion's losses widened to a net loss of RM3 million from a net loss of RM2.37 million for the same period in the financial year 2023.
Daim was charged with failure to declare 71 of his assets to the MACC on Monday.
According to the charge sheet, the 85-year-old failed to comply with a MACC notice to declare his assets such as one bank account, seven luxury vehicles, 38 companies, and 25 properties at the MACC headquarters in Putrajaya on Dec 13, last year.