Anti-graft remands not financially affecting Ewein, Vertice


Ewein Bhd stated that its group MD Datuk Ewe Swee Kheng was remanded by Malaysian Anti-Corruption Commission (MACC) in order to facilitate an ongoing investigation for matters relating to the undersea tunnel project in Penang.

The property developer, however, does not expect the exercise to impact its financial performance.

In a filing to Bursa Malaysia yesterday, Ewein added that none of its subsidiaries or itself is involved in the proposed project, and that its deputy MD Chuah Poh Lim will be running the group’s business.

Meanwhile, Vertice Bhd, formerly Voir Holdings Bhd, said the MACC investigation will not affect the project’s progress, while its main contractor, Consortium Zenith Construction Sdn Bhd, will proceed as previously planned.

Vertice’s wholly owned unit, Vertice Construction Sdn Bhd, has secured multiple projects totalling up to RM100 million in the past few months, and is expected to be the group’s main revenue driver.