RGB denies links to political funding in Malaysia

Aug 29, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Malaysia-based casino electronic games and services supplier RGB International Bhd has denied any involvement by its subsidiaries in funding to political leaders in that nation. The clarification was part of a filing to Bursa Malaysia on Monday.

It followed reports by Malaysian media outlets claiming that some political leaders were being probed by the country’s corruption watchdog for having received funds for state elections amounting to between MYR6 million (US$1.29 million) and MYR7 million from gambling companies.

In Monday’s filing, RGB stated that “it had not and will not condone any forms of ‘political funding’.”

It added that its board of directors “wishes to clarify that RGB Sdn Bhd, a wholly owned subsidiary of the company, only does outright sale of gaming machines and its accessories and has no involvement or ownership in Malaysia’s slots clubs.”

The gaming equipment supplier also said its directors were “offering their full cooperation” to Malaysian Anti-Corruption Commission’s investigation into the political funding by gaming companies.

“The company’s directors have no link to any politician in the country,” added RBG.

RGB said additionally that the group is “highly regulated” in the jurisdictions where it operates. “The group adopts a zero-tolerance approach towards bribery and corruption and upholds to the highest standard of compliance,” it noted, adding that it had established an “Anti-Bribery & Corruption Policy” in 2015.

Shares in RGB fell by nearly 14 percent to MYR0.31 at the close of trading on Monday.

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