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KUALA LUMPUR: Berjaya Corporation (BCorp) CEO Tan Sri Vincent Tan clarified today that he was a passive investor in Sea Gamer Mall Sdn Bhd (SEAGM).
SEAGM was in the news recently after two of its executives were arrested by Malaysian authorities pending extradition to the United States to face criminal charges brought by the United States Department of Justice.
Tan said that a business partner introduced him to SEAGM in 2007 and decided to invest in the company through a private entity and has been a passive investor in the company ever since.
“I also previously invested privately in another MOL online and gaming platform which I have since divested. My shareholding in SEAGM is entirely my personal investment, which I can choose to divest when the time is right.
“As a passive investor, all day-to-day decisions in the management of the company and the business were entirely in the hands of the key executives of SEAGM, whom I considered a dynamic and experienced management team,” he said in a statement. today.
Tan also said that Berjaya Corporation Berhad Group of Companies has no interest in SEAGM.
“My daughters, namely Nerine Tan and Chryseis Tan, were non-executive directors of SEAGM.
“At all times, my daughters were not involved at all in the running of the company. They were just my nominees on the SEAGM Board.
“Both Nerine and Chryseis, in fact, already resigned prior to this incident,” he said.
“Following this incident, SEAGM management has stepped up security measures to protect all personal data of customers and has assured me that they will extend their full cooperation to the authorities,” Tan added.
“The two Malaysian SEAGM executives were charged with complicity with five Chinese hackers, as the SEAGM online trading platform was allegedly used to sell the stolen digital products by the five Chinese hackers.
“Neither SEAGM nor the two executives have the expertise or tools in hacking and hacking. The two SEAGM executives maintain their innocence and have appointed a Malaysian legal adviser to represent them, ”he said.
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