Malaysia anti-graft regulator unfreezes Jawala's bank accounts

Singapore

CATALIST-LISTED Jawala's Malaysian bank accounts - with balances of at least RM16.5 million (S$5.5 million) - have been unfrozen, following an order by the Malaysian Anti-Corruption Commission.

Jawala, in a regulatory filing on Thursday night, said that its subsidiary Jawala Plantation Industries (JPI) had received a letter dated March 21 from CIMB Bank saying that the bank had received an order issued by the Malaysian Anti-Corruption Commission to release the seized properties to JPI, under Section 60(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.