BDB says remand of director by MACC not related to company

• “The investigation is not related to BDB and does not affect the operational matters of BDB Group.”

KUALA LUMPUR (July 21): Kedah government’s investment holding company Bina Darulaman Bhd (BDB) has clarified that the remand of its non-independent and non-executive director Muhamad Sobri Osman by the Malaysian Anti-Corruption Commission (MACC) is not related to the company.

BDB said Muhamad Sobri, who is also Menteri Besar Kedah Incorporated (MBI Kedah) chief executive officer, was remanded on July 19 to assist an MACC investigation and released on Friday (July 21).

“The investigation is not related to BDB and does not affect the operational matters of BDB Group.

“The company is closely monitoring the matter and will make further announcements, including taking any necessary action as may be required under the Main Market Listing Requirements and applicable laws,” it said in a filing with Bursa Malaysia on Friday.

It was reported that the MACC is investigating MBI Kedah for alleged misappropriation and abuse of power in the mining of rare earths.

BDB’s core businesses are engineering, construction and quarry; property development; and leisure.