Alam Maritim Shares Drop 11.53 Pct After Group CEO Remanded By MACC

KUALA LUMPUR, Aug 17 (Bernama) -- Alam Maritim Resources Bhd’s share price fell 11.53 per cent during mid-afternoon trade, following the remand of its group managing director and group chief executive officer Datuk Azmi Ahmad by the Malaysian Anti-Corruption Commission (MACC).

At 3.45 pm, its shares shed three sen to 23 sen, with 1.44 million shares changing hands.

In a filing with Bursa Malaysia today, the oil and gas industry service provider said the remand was to facilitate an ongoing MACC investigation and did not constitute any finding of wrongdoing.

“The board has taken the necessary measures to ensure continuity of the group’s operations and will make further announcements should there be any material development,” it said.

-- BERNAMA