Alam Maritim group CEO Azmi Ahmad remanded to assist MACC probe
KUALA LUMPUR: Alam Maritim Resources Bhd today announced that its group managing director and group chief executive officer Datuk Azmi Ahmad is under remand to facilitate an ongoing investigation by the Malaysian Anti-Corruption Commission (MACC).
Azmi Ahmad has been serving as the Group Treasurer and CEO of Alam Maritim Resources Bhd since May 2, 2006. The Malaysian Anti-Corruption Commission (SPRM) has appointed him to assist in their investigation. In a statement to Bursa Malaysia, the offshore marine services provider clarified that the alleged breach of duty has not been proven against Azmi.
"The board has taken the necessary steps to ensure the group's operations continue smoothly and will issue further announcements if there are any developments," he added. Azmi has been holding the positions of Group Treasurer and CEO at the company since May 2, 2006. Alam Maritim also has a long-standing business relationship with Tabung Haji (TH), including through a joint venture established in 2009 to invest and fund offshore marine support vessels.
The Financial Transactions Report Agency (RCI) inquiry into Tabung Haji previously identified Alam Maritim and TH Marine as two of 14 companies involved in problematic investments, with the portfolio value subsequently recorded at RM278 million.
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