Posted on 08 Aug 2025
MAYU Global Group Bhd and its two subsidiaries are cooperating with the Malaysian Anti-Corruption Commission (MACC) in connection with an ongoing investigation into alleged illegal smuggling of steel scrap materials.
In a filing with Bursa Malaysia today, the company said the parties involved, Progerex Sdn Bhd and SMPC Industries Sdn Bhd, had been approached by the MACC as part of the investigation.
However, the group clarified that neither Mayu nor its subsidiaries are involved in any import or export activities related to steel scrap materials, as all of their operations are conducted domestically.
“The parties remain committed to assisting the authorities in clarifying their position in relation to the ongoing Investigation,” the board said.
Mayu also stated that the investigation has not disrupted its business operations and has no material financial or operational impact on the group at this time.
“The board views this matter seriously and is undertaking all necessary measures to safeguard the interests of the company, its stakeholders, and to ensure business continuity,” it said, adding that the group remains committed to “upholding the highest standards of corporate governance, transparency and integrity.”
Source:The Malaysian Reserve
