Kuala lumpur: Nation Gate Holdings Bhd clarified that the investigation by the Malaysian Anti-Corruption Commission (MACC) is limited to its subsidiary NationGate Solution (M) Sdn Bhd. In a Bursa Malaysia filing today, the electronics manufacturing services company said that an order to inspect, search, and seize under Section 31(1) of the Malaysian Anti-Corruption Commission Act 2009 from MACC was issued to NationGate Solution.

According to BERNAMA News Agency, the raid does not involve any specific board members or senior management of NationGate Holdings. NationGate Solution is not considered a major subsidiary based on the definition provided in the Main Market Listing Requirements of Bursa Securities, the company clarified.

Additionally, the company stated that the MACC raid is not expected to have a significant financial and operational impact on the group at this time. It was previously reported that MACC conducted the raid on NationGate Holdings’ wholly owned subsidiary as part of an ongoing investigation into allegations of scrap metal smuggling.