BY EE ANN NEE
PETALING JAYA: Ancom Bhd and its subsidiary Nylex (Malaysia) Bhd have assured that business is as usual after the arrest of Datuk Siew Ka Wei in relation to a RM100 million tourism contract which was awarded before the 14th general election.
Siew is Ancom executive chairman and Nylex managing director.
Ancom and Nylex told Bursa Malaysia that they had convened an emergency board meeting yesterday afternoon to assess the implications of the matter on the business operations, shareholders and other stakeholders who may be affected directly and indirectly and to determine the possible course of action to be taken.
“The board wishes to inform the shareholders and other stakeholders that the operations of the group remain unaffected by the event. The group’s various operating units have been and are under the care of the various unit heads with proven track record,“ said both Ancom and Nylex.
Ancom’s share price declined 2 sen or 4.08% to 47 sen yesterday on 1.40 million shares done, while Nylex closed 2 sen or 3.08% lower at 63 sen with 504,200 shares changing hands.
Ancom is a diversified group with businesses in agricultural and industrial chemicals, polymer, logistics, information technology and media. Meanwhile, Nylex is involved in in the chemicals, plastics and polymers businesses.
Article source: https://www.thesundaily.my/business/ancom-nylex-say-business-as-usual-after-siew-ka-wei-arrest-FE363645