RGB says Managing Director linked to Malaysian slot clubs on bail, cooperating with authorities
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Malaysian gaming equipment distributor RGB International Bhd has confirmed that its Managing Director, Dato’ Seri Chuah Kim Seah, is currently on bail and cooperating with authorities.
But the company made it clear in a filing that the investigation is “largely focused on his private business related to slot clubs” and that “RGB’s involvement in this investigation is solely related to the sales of machines to Malaysia’s slot clubs.”
It also clarified that RGB’s Independent Non-Executive Director, Tan Sri Norazman Bin Hamidun, was not arrested by the Malaysian Anti-Corruption Commission (MACC).
The comments follow reports by Malay-language newspaper Utusan Malaysia last weekend alleging some local political leaders had received funds amounting to between MYR6 million and MYR7 million (US$1.3 million and US$1.5 million) from gambling companies for use during elections. RGB had on Monday filed a response in which it rejected claims it was involved in providing funding to political leaders or that it holds any ownership in slot clubs across the country.
In a separate filing on Tuesday, RGB reiterated that it “has not and will not condone any form of political funding” and that “the Company’s Directors have no link to any politician in the country.”
The company’s initial response on Monday stated that RGB “only does outright sale of gaming machines and its accessories and has no involvement or ownership in Malaysia’s slots clubs.
“The Company and its subsidiaries are highly regulated in the jurisdictions where the Group operates. The Group adopts a zero-tolerance approach towards bribery and corruption and upholds to the highest standard of compliance,” it added.
RGB shares sat at 30.5 sen (MYR 0.305) at close on Wednesday, having fallen almost 29% from a high of 42.0 sen (MYR 0.42) over the past week.
