RM4.3mil in Mayu Global's frozen bank accounts released, RM6.4mil still held
This follows letters received from Bukit Aman notifying the cancellation of the freeze order, issued under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
In a filing with Bursa Malaysia, Mayu Global said the affected accounts were held at RHB Bank Bhd, Hong Leong Bank Bhd, Malayan Banking Bhd, Maybank Islamic Bhd and CIMB Bank Bhd.
"Following the release of RM4.3 million from the above-mentioned bank accounts, the remaining amount still frozen by PDRM in the group's bank accounts stands at RM6.4 million," it said.
This marks a partial easing of restrictions first disclosed in April, when the company revealed that bank accounts linked to Mayu Global and its subsidiaries had been frozen as part of an ongoing investigation involving one of its directors.
The investigation also led to the seizure of company vehicles and changes in boardroom composition. The company said it would continue to monitor the matter closely.
"The board of directors will continue to monitor the situation closely and will make further announcements as and when there are material developments," it said.
In April, PDRM froze RM10.67 million across the bank accounts of Mayu Global and several subsidiaries under anti-money laundering laws.
Mayu Global's executive director Tan Kim Hee was detained on April 2 to assist with the investigation and released on April 7 without any charges filed.
The probe was reportedly linked to the long-running MBI pyramid scheme, with Tan identified as the brother-in-law of MBI founder Tedy Teow and a substantial shareholder of Mayu Global.
The affected accounts included Sunrise Manner, Sungguh Gemilang Development Sdn Bhd, Progerex Sdn Bhd, SMPC Industries Sdn Bhd and others.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
5 hours ago
- Free Malaysia Today
PJ mayor outlines conditions for privatised parking scheme
PJ mayor Zahri Samingon said the privatisation process must not disrupt the existing parking situation in the city. (Bernama pic) PETALING JAYA : The Petaling Jaya City Council (MBPJ) agrees in principle with the Selangor government's decision to privatise the city's parking system, but several conditions must be met before it can be implemented. Mayor Zahri Samingon said MBPJ supported the move as it was a policy approved by the state executive council. However, he said, the privatisation process must not disrupt the existing parking situation in the city. 'One of our conditions is that the revenue (MBPJ earns) must be the same or higher than what we get currently,' he told reporters after attending the closing ceremony of the PJ International Outdoor Expo 2025 here today. 'There are many terms that we still need to refine further, such as the basis for enforcement delegation, how long it will be delegated, and so on. 'So there are around three to four more terms that we need to get more details on,' he said, adding that the council had already met with Menteri Besar Selangor Incorporated (MBI) several times to seek clarification on the plan. He said further discussions will be held with MBI to finalise the remaining details. The state government's Smart Intelligent Parking (SIP) system is set to be implemented in PJ, Subang Jaya, Shah Alam and Selayang from Aug 1. It will involve the four local councils, state-owned Rantaian Mesra Sdn Bhd, and a private company. Enforcement will be carried out by the local councils, with Rantaian Mesra acting as the system coordinator. The private company, which has not been named, will handle day-to-day parking operations. The MPs of all four constituencies have objected to the proposed system, urging the state government to review the proposal and establish an independent, bipartisan committee to reassess the scheme. State local government executive councillor Ng Suee Lim was reported to have said that the state was prepared to postpone the plan if issues raised are not resolved before Aug 1.
BusinessToday
5 hours ago
- BusinessToday
ITMAX Strikes Profit Sharing Parking Deal With MPSJ
ITMAX System Bhd has secured another smart parking contract through its subsidiary Selmax Sdn Bhd to operate the Selangor Intelligent Parking (SIP) system for the Subang Jaya City Council (MBSJ). Under the 10-year agreement, Selmax will manage all gazetted parking spaces within MBSJ's jurisdiction. The deal includes a revenue-sharing model, with Selmax entitled to 50% of parking-related collections and an optional five-year extension. 'We are honoured to be appointed as the SIP operator for MBSJ, marking ITMAX's strategic entry into Selangor,' said William Tan Wei Lun, Managing Director and CEO of ITMAX. 'This aligns with Selangor's Smart City agenda and reflects our commitment to building connected, efficient and sustainable urban ecosystems.' Tan said the partnership aims to enhance urban mobility and public safety while improving the overall quality of life through advanced smart city technologies. Related
The Sun
6 hours ago
- The Sun
Egg prices stable after subsidy removal in Malaysia
KUALA LUMPUR: Checks reveal no major price increases for eggs following the restructuring of subsidies. The Ministry of Domestic Trade and Cost of Living's Price Catcher app indicates stable prices for Grade A, B, and C eggs, ranging from RM10.40 to RM12.60 in supermarkets. Rafiah Rahmat, a consumer in Johor, expressed hope that the subsidy removal would not lead to excessive price hikes. 'We must view the government's decision positively. As consumers, we hope prices remain reasonable, quality is maintained, and supply stays sufficient,' he said. Johor's KPDN director, Lilis Saslinda Pornomo, confirmed no complaints of unreasonable price hikes have been received, with regular monitoring ongoing. In Kota Bharu, Kelantan, egg prices remain between RM11.50 and RM15 per tray, depending on grade. Retailer Hasnah Saad noted that existing stock is still being sold at current prices, though suppliers have warned of possible increases. 'If prices rise, we'll adjust accordingly,' she said, adding that supply remains stable despite higher demand. Mohd Farid Aziz, a trader in Pasir Tumboh, echoed readiness for potential price adjustments. Meanwhile, consumer Mohd Azrul Nasir urged proactive government measures to ensure stable supply and affordability. Kedah Consumer Association president Mohd Yusrizal Yusoff called for stricter monitoring to prevent sudden price spikes, reminding consumers of protections under the Price Control and Anti-Profiteering Act 2010. The subsidy removal, effective August 1, aims to transition to targeted assistance for those in need. - Bernama
