MACC raids PeterLabs offices amid misconduct probe involving executive director
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) today raided the offices of PeterLabs Holdings Bhd and its subsidiary, Thye On Tong Trading Sdn Bhd (TOT), over allegations of misconduct involving an executive director.
In a filing with Bursa Malaysia, the animal health and nutrition products specialist said MACC officers seized documents and files believed to be relevant to the ongoing investigation involving PeterLabs executive director Datuk Loh Saw Foong.
Loh also serves as the general manager of TOT, a fast-moving consumer goods distributor.
On May 9, PeterLabs lodged a formal report with the MACC against Loh over allegations of misconduct, conflict of interest, and breach of fiduciary duties.
The company stated that its board of directors will make further announcements on any material developments, in line with Bursa Malaysia Securities Bhd's Listing Requirements and applicable legal obligations.
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