MACC raids NationGate subsidiary in scrap metal smuggling probe

THE Malaysian Anti-Corruption Commission (MACC) has conducted a raid on NationGate Holdings Bhd’s wholly-owned subsidiary, NationGate Solution (M) Sdn Bhd, in connection with an ongoing investigation into alleged scrap metal smuggling.

In a filing with Bursa Malaysia today, NationGate stated: “The board views these allegations with utmost seriousness and has taken proactive steps to ensure full cooperation with the MACC and to safeguard the integrity of the investigation.

“Our company remains steadfast in its commitment to the highest standards of corporate governance, accountability, and transparency,” the statement continued, noting that the raid occurred on Monday.

NationGate assured stakeholders that it will use its reasonable endeavours to ensure business operations are not disrupted. The board also confirmed that appropriate interim measures have been implemented.

Further announcements on any material developments will be made in accordance with Bursa Malaysia Securities Bhd’s Listing Requirements and as legally required.

Despite the investigation, NationGate’s shares saw an uptick during the lunch trading session, rising eight sen to RM1.69 with 27.12 million shares changing hands. - July 15, 2025