Alam Maritim fell to six-month low following MACC remand of CEO Azmi Ahmad
KUALA LUMPUR: Alam Maritim Resources Bhd fell to near six-month low today after its group managing director and group chief executive officer Datuk Azmi Ahmad was remanded by the Malaysian Anti-Corruption Commission (MACC) to assist an ongoing investigation.
Alam Maritim Resources Bhd experienced a drop to its lowest level in six months after the Malaysian Anti-Corruption Commission (MACC) remanded its CEO, Datuk Azmi Ahmad, to assist in an ongoing investigation. The company's share price fell 11.54% to 23 sen, representing its highest trading volume in over two months with 1.44 million shares exchanged.
The stock has declined approximately 23% year-to-date, resulting in a market capitalization of RM102.48 million. The remand is not considered a finding of wrongdoing by the company, as stated in a filing with Bursa Malaysia. The board has taken necessary steps to maintain the continuity of the group's operations and will issue further announcements if there are any significant developments.
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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
