M & A Equity Holdings Bhd (MAEH) has placed the chief executive officer of its asset management subsidiary, Sean Yap Shon Leong, on administrative leave while it conducts an independent review into his involvement with Next Lion Holdings Ltd.
In a clarification issued in response to recent media reports, MAEH said Yap’s involvement with Next Lion and its group of companies, including his roles as a shareholder and director, was undertaken solely in his personal capacity.
Yap is currently the chief executive officer of M & A Asset Management Malaysia Sdn Bhd (MAAM), a 75%-owned subsidiary of MAEH.
The company stressed that Next Lion and its group are not subsidiaries, associates, joint ventures or investee companies of MAEH or MAAM.
It also said neither MAEH, MAAM nor any other company within the group was involved in transactions concerning Next Lion that were referred to in the media reports.
MAEH added that Yap was not acting for or on behalf of the group and had not been authorised to represent MAEH or MAAM in relation to those matters.
The group said it had not provided any funding, financial assistance, guarantee, undertaking or other support to Next Lion, and that the matters cited in the reports have no financial or operational impact on MAEH Group.
As a precautionary measure, Yap has been placed on administrative leave from his duties at MAAM with effect from Sept 8, 2026, until further notice.
MAEH stressed that the move should not be interpreted as a finding or admission of wrongdoing on Yap’s part.
The board said it has taken steps to ensure MAAM’s operations continue in an orderly manner and does not expect the administrative leave to have any material impact on the business or operations of MAAM or the wider MAEH Group.
MAEH has also notified the Securities Commission Malaysia of Yap’s involvement in Next Lion and of the independent review being undertaken by the board.
The company said MAEH Group maintains policies governing directors’ and employees’ outside business interests.
Under these policies, directors and employees are required to declare external business interests and ensure that such interests remain separate from their responsibilities within the group.
MAEH said references to Yap in connection with Next Lion should therefore not be taken as indicating the involvement, endorsement or participation of MAEH, MAAM or any other entity within the group.
The board added that it takes matters relating to governance, integrity and the group’s reputation seriously and will take appropriate measures to safeguard the interests of MAEH and its stakeholders.
