GIIB (KLSE:GIIB) said the Deputy Public Prosecutor has withdrawn the charge and discontinued proceedings against the company's former director, Tai Boon Wee.
Following this, the Kuala Lumpur Sessions Court ordered for Tai Boon Wee to be discharged, according to a Friday Malaysian bourse filing.
The technical rubber compound specialist considers the matter to be now closed, it noted.
GIIB shares were up 7% recently.
Price (MYR): $0.08, Change: $+0.0050, Percent Change: +7.14%
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