MACC looking into RM2.5b laundering claims against top IJM official, adviser
The MACC has identified a member of IJM Corporation Bhd’s top management who holds a “Tan Sri” title, along with a company adviser, as persons of interest in its probe into allegations of a RM2.5 billion money laundering scheme.
An internal source said the commission is gathering more information related to the allegations against the company before opening a formal investigation.
“The investigation team is...
The MACC has identified a member of IJM Corporation Bhd’s top management who holds a “Tan Sri” title, along with a company adviser, as persons of interest in its probe into allegations of a RM2.5 billion money laundering scheme.
An internal source said the commission is gathering more information related to the allegations against the company before opening a formal investigation.
“The investigation team is in the process of collecting additional details to ascertain the veracity of the claims before commencing an official probe,” the source told Bernama.
Earlier, the United Kingdom’s Serious Fraud Office was reported to have launched an investigation into alleged money laundering and corruption involving multi-billion-ringgit investment transactions linked to the two individuals.
It is understood that both individuals are overseas, and MACC is also examining allegations of share price manipulation.
The source said the alleged manipulation is believed to have occurred when Sunway Group acquired IJM through a transaction valued at RM11 billion.
It was reported that the proposed merger between the two companies was expected to reshape Malaysia’s property and construction sectors, potentially prompting developers and contractors to enhance their strategies and competitiveness.
Meanwhile, MACC chief commissioner Azam Baki, when contacted, confirmed that an investigation into IJM is underway and that further details will be disclosed from time to time.
IJM also confirmed that officers from the MACC and the Inland Revenue Board were present at the company’s office today to obtain information as part of their process.
In a filing with Bursa Malaysia today, the construction company said it is cooperating fully with the authorities.
“The company is committed to upholding strong standards of corporate governance, transparency and integrity.
“We would like to assure our stakeholders that our business operations are continuing as usual. The company will continue to monitor developments in this matter and will make timely disclosures should there be any material updates,” it said.
- Bernama
