NationGate unit raided by MACC over alleged scrap metal smuggling
The raid took place on Monday at the premises of NationGate Solution (M) Sdn Bhd, the company said in a filing with Bursa Malaysia today.
"The board views these allegations with utmost seriousness and has taken proactive steps to ensure full cooperation with the MACC and to safeguard the integrity of the investigation," it said.
NationGate said it remained committed to upholding the highest standards of corporate governance, accountability and transparency.
The company added that interim measures have been implemented to ensure business operations remain unaffected, and that it will continue to update stakeholders on any material developments.
Earlier, it was reported that MACC had launched a major crackdown on scrap metal smuggling syndicates across five states, targeting groups suspected of bribing enforcement officers and causing over RM950 million in tax losses.
The raids, under MACC's "Op Metal", were led by its special operations division with support from a multi-agency task force comprising the Customs Department, Inland Revenue Board and Bank Negara Malaysia.
A total of 19 sites across Penang, Selangor, Negeri Sembilan, Johor and Kedah were raided.
In Penang alone, MACC's anti-corruption tactical unit stormed six locations, including residences, offices and scrap metal facilities allegedly linked to the smuggling ring.
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