Malaysian slot machine distributor RGB International Bhd has rejected claims it may have been involved in providing funding to political leaders or that it holds any ownership in slot clubs across the country.
The company filed a response with the Malaysian bourse on Monday after Malay-language newspaper Utusan Malaysia claimed some 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.
The report also said 13 people were arrested by the Malaysian Anti-Corruption Commission (MACC) last week on suspicion of being involved in the ownership of companies that supplied slot machines, and named RGB as one of the companies involved.
In response, RGB said in a filing that it “only does outright sale of gaming machines and its accessories and has no involvement or ownership in Malaysia’s slots clubs.
“The Company wishes to state that it had not and will not condone any forms of ‘political funding’. The Company’s Directors are thus offering their full cooperation to the MACC investigation and had reiterated the above. The Company’s Directors have no link to any politician in the country.”
Going further, RGB said, “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.
“In upholding this commitment, the Group has established an Anti-Bribery & Corruption Policy in 2015 which sets out the standards the Company expects the directors, employees, agents, consultants, suppliers, vendors and any third-party intermediaries or representatives performing work or services for or on behalf of the Group to comply with in conducting business.
“If any parties deviate from the Company’s zero tolerance approach, the Company will take necessary action to protect the interest of its shareholders and all relevant stakeholders.”
Shares in RGB fell by almost 14% on Monday to 31 sen (MYR 0.31) with The Edge Markets revealing they were the second most traded company on Bursa Malaysia for the day.
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