KUALA LUMPUR — Cropmate Bhd said certain bank accounts of the company and its subsidiaries have been temporarily frozen by the Malaysian Anti-Corruption Commission (MACC) in connection with an ongoing investigation.
The fertiliser maker said it was notified of the freeze on April 24, and that the action was pursuant to an order issued under Section 44(1) of the Anti‑Money Laundering, Anti‑Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA).
Denying any knowledge of wrongdoing, the company said it understood the freeze order to be a standard procedure undertaken in the course of such investigations.
“Based on the information currently available, the company said its board (of directors) has no indication that the matter is attributable to any misconduct on the part of the group’s management or employees,” it said in a statement today, reported by Bernama.
Cropmate said it is committed to working constructively with the authorities and to be fully supporting the ongoing process.
“Our business remains stable and our customers and partners are unaffected. Operations continue as usual, supported by our existing banking arrangements, and we remain focused on delivering value to our stakeholders as this matter runs its course,” the company said.
The company said it would make further announcements in a timely manner should there be any material developments.
Cropmate said it is also engaging constructively with the relevant authorities and will extend its full cooperation to assist with the investigation.
The company has also taken the necessary steps in the ordinary course of engagement to facilitate the release of the affected bank accounts under section 44A of AMLATFA.
Cropmate said it has, at all material times, conducted its business in compliance with all applicable laws, rules and regulations, and is not aware of any wrongdoing.
“Cropmate continues to have access to alternative banking facilities to support its ongoing business activities. The board does not expect this matter to have any financial material or operational impact, and the company’s day‑to‑day operations remain fully functional, with business continuing as usual,” it added.
Trading in Cropmate securities were halted for an hour from 9.00 am to 10 am today. – April 27, 2026