Nationgate says IRB investigation completed, records in order

KUALA LUMPUR: Nationgate Holdings Bhd has announced that it has received a notification from the Inland Revenue Board (IRB) that it has completed its investigation and found the company's records to be proper.

The electronics manufacturer said in a stock exchange filing its bank account that had been previously earmarked by the Malaysian Anti Corruption Commission (MACC) has also been regularised.

"The company will ensure that the group will continue to be managed with the highest level of integrity, transparency and strict regulatory discipline, ensuring that all procedures are conducted in full compliance of applicable laws and requirements," it said.

Nationgate had come under investigation by the MACC as well as the IRB in July 2025 as part of an ongoing investigation into allegations of scrap metal smuggling.

Upon its disclosure to the stock exchange on July 15, 2025, the company's share price fell 7.45% to RM1.49. The stock ended the year at 89 sen a share, its lowest recorded close since its market listing on Jan 12, 2023.

As at the lunch break on Jan 22, 2026, the share was trading at RM1.07, a 7% jump over the previous day's closing price.