ATA IMS had also previously denied such claims. A spokesperson for the ministry, when contacted, told theedgemarkets.com that the legal action Saravanan mentioned on taking against ATA IMS was unrelated to the forced labour issue. It is about an "old offence" that ATA IMS has yet to pay the compound for, the spokesperson said but did not specify what it was. ATA IMS subsequently confirmed the matter and warned it would see significant revenue drop from the termination. ATA IMS shares settled 8.89% or four sen lower at 41 sen on Wednesday, giving the company a market capitalisation of RM493.17 million.

Source: The Edge Markets December 02, 2021 10:55 UTC