MACC lifts freeze on Jaya Tiasa unit’s bank account

PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has lifted the freeze on the bank account of Jaya Tiasa Holding Bhd’s unit in relation to investigations into illegal logging.
In a stock exchange filing yesterday, the company said the anti-graft agency had unfrozen the bank account of its unit, Jaya Tiasa Timber Products Sdn Bhd (JTTP). JTTP account was frozen by MACC on May 15, 2015.
Jaya Tiasa said then JTTP did not carry out logging but was mainly involved in buying logs from concessions owned by the Jaya Tiasa group.
In a separate filing, the group said it has given its commitment to comply with the Wilmar Integrated Policy. It pledged to implement best management practices on existing plantations on peat, as defined by the Roundtable on Sustainable Palm Oil or any peat, and will not continue planting on the existing remaining peat landbank comprising 0.4% of the group’s total plantable landbank after this month.