KUALA LUMPUR: NexG Bina Bhd said 16 bank accounts of the company and its subsidiaries maintained with RHB Bank Bhd have been frozen since mid-November 2025 by the anti-money laundering unit (AMLU) of the Royal Malaysian Police (PDRM).
In a filing with Bursa Malaysia, NexG Bina said the company did not receive any formal freezing order and only became aware of the situation after it was unable to proceed with certain operating payments.
It said the board is not aware of any wrongdoing and has been seeking clarification from the authorities on the issue.
It alleged that to date, the group had not been informed of any specific findings or particulars relating to alleged non-compliance or illegal money laundering activities involving the company.
The bank statements of all the affected accounts have been submitted to the relevant authorities, and to date no further inquiries have been initiated nor have any additional documents been requested, it added.
It believes that it complies and adheres to all applicable regulatory and governance standards, including Bursa Malaysia Listing Requirements, financial reporting obligations and statutory compliance frameworks, it said.
NexG Bina said it has submitted multiple formal written appeals to the relevant authorities requesting consideration for the unfreezing or at minimum a structured and conditional operational release of the affected accounts.
As at the date of this announcement, no formal response has been received, it said.
At the last board meeting in February 2026, the board was informed of the freezing and there was no operational impact on the group’s operations at that juncture.
However, the board expects that the continuation of the said freezing order may have an impact on the financial and operational aspects of the group.
Furthermore, the company said at this stage, the board is unable to ascertain the full financial and operational impact and it may be exposed to potential lawsuits and claims for breach of contract if the group does not have sufficient funds to make payment and fulfil its ongoing commitments.
The company may also be unable to proceed with ongoing development projects which require a bigger quantum of funds.
The company is currently making its best efforts to ensure the current collections from its manufacturing division is able to serve the group’s fixed expenditures and its manufacturing
overheads, it said.
At this juncture, the company is seeking legal advice on the courses of actions that can be taken. – BERNAMA
