Ibraco says company not involved with managing director’s remand by MACC

KUALA LUMPUR, Sept 11 — Ibraco Bhd said today that the remand of its managing director by the Malaysian Anti-Corruption Commission (MACC) over alleged improper payment claims related to ‘Jiwa Murni’ rural road projects in Sarawak dating back to 2010 has nothing to do with the company.

“Ibraco and its group of companies are not involved in the said projects whatsoever, either directly or indirectly. Neither have we ever benefited in whatever form from the said projects,” it said in a filing with Bursa Malaysia.

The property developer said it would make the necessary announcements to Bursa Malaysia Securities Bhd as and when there are further developments on the case.

It ended at 57 sen today, up 4.5 sen. — Bernama