Share
PUTRAJAYA (April 2): Malaysia’s anti-graft agency has submitted investigation papers on the takeover of IJM Corporation Bhd (KL:IJM) to the Attorney General’s Chambers for further action.
“This investigation has been completed, and we leave it to the deputy public prosecutor to make a decision,” Azam Baki (pictured), chief commissioner of the Malaysian Anti Corruption Agency (MACC), told reporters on the sidelines of an event on Thursday.
Azam was asked about a claim by Sunway Bhd (KL:SUNWAY) on March 26 that the company received formal notification from the commission that cleared its ongoing takeover offer for IJM.
The probe was one of three investigations involving IJM.
On March 24, IJM disclosed that it had received a letter from the MACC clarifying that the investigations were confined to several individuals associated with IJM rather than the group itself.
The outcome of the remaining two investigations remained unclear.
On March 4, Azam said the commission was examining whether there were elements of corruption, abuse of power or governance breaches, noting that the matter involved public funds as both companies have government-linked shareholders.
The investigations, meanwhile, have been streamlined into two cases, according to Azam.
The first involves an alleged RM2.5 billion money laundering scheme and overseas asset transactions, with the MACC facilitating cooperation with authorities in the UK.
The second relates to alleged bribery linked to a project, where the commission is examining certain payments made by the company to external parties.
..........
Get EdgeProp's inaugural monthly print edition! Free delivery is available for selected regions. Subscribe now.
