Magma confirms chairman assisting MBI investigation

KUALA LUMPUR: Magma Group Bhd has clarified in a statement that its group executive chairman, Datuk Sri Lee Hock Seng, is assisting an investigation by the authorities into the MBI scandal.

The group said the matter is not related to or involve the business or operations of Magma or any of its subsidiaries.

It aded that the development does not affect the financial standing, day-to-day operations, or strategic plans of the group. 

"Magma remains committed to maintaining operational continuity and delivering long-term value to its shareholders and stakeholders," it said in a statement.

At the midday break, shares in Maga were down 8.4 sen or 27.42% to 22.5 sen apiece after 84.3 million shares done. 

The share has lost 43% of its value since Aug 16, 2025, when news of Lee's involvement in the MACC investigation was published in an online news article.