KUALA LUMPUR: TH Heavy Engineering Berhad (THHE) will extend its full cooperation to the Malaysian Anti Corruption Commission (MACC) over a graft probe into its former chief executive officer (CEO).
In a statement today, THHE said the CEO had ended his tenure with the company on June 30, 2015.
“The company is committed to supporting any effort to enhance transparency, accountability, integrity and ethical business practice as key features of its good corporate governance,” it said.
THHE said that as the matter is the subject of an ongoing investigation, it will not be making any further comments for now.
“Nevertheless, we will continue to provide our fullest cooperation to the authorities to enable them to carry out a detailed and through investigation,” it said.
The CEO was nabbed by the MACC with two others on Monday. The trio have been remanded for seven days to assist a probe into alleged power abuse and corruption involving more than RM39.9 million.
The money was believed to be from gratification received by the suspect during his five-year tenure as the CEO of another GLC in 2010.
The suspect is believed to have awarded projects worth nearly RM50 million to companies.
The case is being investigated under Section 17(a) of the MACC Act 2009 over suspicion of receiving bribes and abuse of power.