No evidence of Ta Ann group breaching anti-corruption law

Tuesday, 17 November 2015 | MYT 10:08 AM

KUALA LUMPUR: Ta Ann Holdings Bhd, which earlier this year was investigated by the Malaysian Anti-Corruption Commission (MACC) as part of the Sarawak state-wide crackdown against illegal logging, is in the clear.

The Sibu-based timber company told Bursa Malaysia that the MACC had confirmed it had found no evidence to show that the Ta Ann group was involved in any offence under the Malaysia Anti-Corruption Act 2009.

This followed the uplifting of freeze by the anti-graft agency on the bank accounts of Ta Ann Holdings Bhd and its group of companies in August.

To recap, on May 13, Ta Ann announced that the company and two of its subsidiaries, Ta Ann Plywood Sdn Bhd and Lik Shen Sawmill Sdn Bhd, were cooperating with the MACC on investigations into illegal logging activities in the state.

Ta Ann stated in the statement that it had been its policy to use only legal logs for timber processing at the group’s plywood mill and sawmill.

On Aug 28, the company said the freeze on certain bank accounts by MACC had been uplifted that month.

Original article: http://www.thestar.com.my/business/business-news/2015/11/17/no-evidence-of-ta-ann-group-breaching-anti-corruption-law/