Cropmate Berhad (“Cropmate” or “Company”), a key player in Malaysia’s conventional and specialty fertiliser manufacturing industry, wishes to provide an update regarding the freezing of bank accounts of the Company and its subsidiaries (“Group”) in connection with an investigation by the Malaysian Anti-Corruption Commission (“MACC”).
The Company is pleased to announce that all affected bank accounts of the Company and the Group have now been released by the MACC. Following the release of the accounts, the Group will continue operating under its normal banking arrangements while maintaining its focus on serving customers and executing its business strategies.
The Company further wishes to clarify that no director, officer, employee or representative of the Group has been arrested or charged with any offence arising from this matter. The Company also confirms that neither it nor any member of the Group has been made the subject of any forfeiture proceedings in connection with the investigation.
Managing Director of Cropmate Berhad, Mr. Lee Chin Yok said, “We are pleased that all affected bank accounts have now been released, providing certainty for our banking operations and reaffirming the resilience of our business. Throughout this period, our operations continued without material disruption, supported by our alternative banking arrangements, prudent financial management and the continued dedication of our employees.”
Mr. Lee added, “We have consistently maintained that the Group remains committed to conducting its business with integrity, transparency and the highest standards of corporate governance. We will continue to cooperate fully with the relevant authorities whenever required while remaining focused on creating long-term value for our shareholders and stakeholders.”
The Company wishes to reiterate that throughout the period of the investigation, Cropmate maintained normal business operations and continued to meet its commitments to customers, suppliers, financial institutions and business partners.
Looking ahead, Cropmate remains focused on strengthening its position within Malaysia’s fertiliser industry through operational excellence, supply chain resilience, product innovation and strategic expansion initiatives, including its planned East Malaysia expansion and the development of controlled-release fertiliser solutions.
Mr. Lee concluded, “We would like to express our sincere appreciation to our shareholders, customers, business partners, financial institutions, employees and all stakeholders for their continued confidence, patience and unwavering support throughout this period. With this matter behind us, we will continue to focus on executing our growth strategies and delivering sustainable long-term value.”
