THE Malaysian Anti-Corruption Commission (MACC) raided the offices of PeterLabs Holdings Bhd and its subsidiary Thye On Tong Trading Sdn Bhd (TOT) today, in connection with allegations of misconduct involving an ED.
In a filing with Bursa Malaysia, PeterLabs said that “on May 19, 2025, officers from the MACC conducted a raid at the principal offices of both PeterLabs and TOT, as well as the registered offices of the respective entities. During the raid, MACC officers seized certain documents and files believed to be relevant to the ongoing investigation.”
The company said it had earlier lodged a formal report with the MACC on May 9 against Datuk Loh Saw Foong, who is “currently an ED of PeterLabs and GM of the company’s subsidiary, TOT.”
According to the group, “the report pertains to serious allegations of misconduct, conflict of interest and breach of fiduciary duties, which are currently under internal investigation and relate to potential violations of the applicable anti-corruption laws.”
“The board views these allegations with utmost seriousness and has taken proactive steps to ensure full cooperation with the MACC and to safeguard the integrity of the investigation,” it said.
PeterLabs added that “the Company remains steadfast in its commitment to the highest standards of corporate governance, accountability, and transparency.”
It also assured stakeholders that “business operations remain unaffected, and appropriate interim measures have been put in place.” — TMR
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