Police freeze bank accounts of Mayu Global and its units

PETALING JAYA: Police have frozen bank accounts totalling RM10.67mil belonging to Mayu Global Group Bhd and several of its subsidiaries to facilitate investigations under anti-money laundering laws.

In a filing with Bursa Malaysia, the Penang-based manufacturer said the freezing orders were served on the company, together with seven of its subsidiaries, last Thursday.

“The freezing orders are valid for 90 days from the date of issuance,” it said.

In addition to the frozen funds, the company said two luxury vehicles – a Mercedes-Benz GLE 450 Coupe from its subsidiaries SMPC Industries Sdn Bhd and a BMW 330Li from Progerex Sdn Bhd, have also been seized by the authorities.

Mayu Global said its executive director Tan Kim Hee, who was detained by the police on April 2, had been released on April 7.

“He had been remanded to assist in an investigation under Section 4 (1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. At this point in time, no charges have been filed against Tan,” it added.

The company will continue to monitor the situation closely and will make further announcements as and when there are material developments.”Additionally, Mayu Global said that its executive director, Tan Kim Hee, who was detained by the police on April 2, had been released on April 7.