Alam Maritim CEO remanded by the MACC
The Star · 08/17 23:00
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KUALA LUMPUR: Alam Maritim Resources Bhd’s shares fell by nearly 12% in a day after news broke out about its group managing director and group chief executive officer or CEO being remanded by the Malaysian Anti-Corruption Commission (MACC).
Datuk Azmi Ahmad was remanded to facilitate an ongoing investigation.
In a filing with Bursa Malaysia yesterday, the offshore oil-and-gas services firm said the remand did not constitute any finding of wrongdoing.
“The board has taken the necessary measures to ensure continuity of the group’s operations and will make further announcements should there be any material development,” it added.
The stock closed at 23 sen, the lowest level in nearly six months.
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