Alam Maritim CEO remanded by MACC
Company says Azmi Ahmad's remand is to facilitate an investigation and does not constitute a finding of wrongdoing.
Alam Maritim Resources Bhd's group CEO and managing director, Azmi Ahmad, has been detained by the Malaysian Anti-Corruption Commission (MACC) to aid an ongoing investigation. Bursa Malaysia was informed of the remand, but the company clarified that this does not mean Azmi has been found guilty of any wrongdoing. The board has taken steps to maintain the group's operations and will release updates if there are any significant changes.
Azmi has held the position of group CEO and managing director since May 2, 2006. Alam Maritim has a long-standing relationship with Tabung Haji, including a joint venture established in 2009 to invest in and fund offshore marine support vessels. The royal commission of inquiry into Tabung Haji's finances identified investments involving Alam Maritim and TH Marine as part of a list of 14 troubled investments. As a result, RM278 million in value has been impaired.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- SPRM tahan reman CEO Alam Maritim freemalaysiatoday.com
- O&G sevice provider Alam Maritim Resources says CEO Azmi Ahmad under MACC remand malaymail.com
- Alam Maritim group CEO Azmi Ahmad remanded to assist MACC probe nst.com.my
