SunCon says employee under investigation by MACC
According to the statement, the inquiry was specifically in relation to the employee's engagements with certain subcontractors.
"SunCon wishes to clarify that this isolated investigation does not concern the way SunCon Group secures contracts from its clients."
It added that the investigation has no financial and operational impact on the SunCon group.
Meanwhile, SunCon said it will refrain from further comment due to the inquiry falling under the jurisdiction of the MACC.
The company said it is in full cooperation with the MACC in its investigation, and is seeking legal counsel to evaluate the appropriate actions to be taken on certain sub-contracts and parties.
"SunCon affirms its unwavering commitment to the highest standards of integrity and transparency across SunCon Group's operations.
"We maintain a zero-tolerance policy towards bribery, corruption, and any practices that compromise ethical conduct," it added.
Shares in the construction firm fell as much as 17.56% or RM1.05 in intra-morning trade to RM4.93 a share.
As at the lunch break, the share had retraced some losses to RM5.18 a piece, 66 sen or 13.38% off the previous day's closing price.
Bursa Malaysia had earlier announced that intraday short-selling (IDSS) of SunCon's shares has been suspended for the remainder of the day following a drop of more than 15% in its share value.
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