Ta Ann: MACC probe shows no wrong-doing

Posted on 18 November 2015 – 05:36am

PETALING JAYA: Sibu-based plantation and timber group Ta Ann Holdings Bhd said yesterday the Malaysian Anti-Corruption Commission (MACC) has found no evidence of any wrong-doing by the company and its group of companies.

In May this year, Ta Ann and its two units, Ta Ann Plywood Sdn Bhd and Lik Shen Sawmill Sdn Bhd, as well as other companies, were investigated by the MACC as part of a state-wide crackdown on illegal logging activities in Sarawak.

The group said then that it is its policy to use only legal logs for timber processing at its plywood mill and sawmill.

In a stock exchange filing yesterday, Ta Ann said MACC has confirmed that their investigation found no evidence to show that the companies were involved in any offence under the Malaysia Anti-Corruption Act 2009.

The MACC on Aug 28 lifted the freeze on bank accounts of Ta Ann and its group of companies.

Ta Ann’s share price was up 15 sen to close at RM4.24, with some 4.29 million shares done.

Original article: http://www.thesundaily.my/news/1613865