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KUALA LUMPUR (May 15): Following months of scrutiny, IJM Corporation Bhd (KL:IJM) non-executive chairman Tan Sri Krishnan Tan (pictured) says he had always maintained his innocence, after being cleared of all graft allegations in the high-profile Sunway takeover investigation.
Minutes after IJM announced on Bursa Malaysia about the Malaysian Anti-Corruption Commission's (MACC) clearance of his name in the probe, Tan issued a brief but heartfelt press statement.
"This decision is welcomed as I have steadfastly maintained my innocence. The investigations and publicity given thereof has caused me severe reputational damage and undone what has been a lifetime of public and corporate service, caused immense strain on my family, friends and the organisations I serve — to all of whom I am grateful — especially my wife and family and dear friends, for standing by me.
"I now want to put this difficult period behind me and move on," Tan said.
According to Tan, the MACC had notified him of the conclusion of the probe in a letter dated April 30, 2026, and that the case had been classified as 'no further action' or NFA.
This latest development comes after both IJM and Sunway Bhd (KL:SUNWAY) announced in late March that they had been cleared of wrongdoing by the MACC, about three weeks after the MACC's then chief commissioner, Tan Sri Azam Baki, said Sunway's proposed takeover of IJM was being investigated.
For IJM and Tan, the clearance came months after the anti-graft agency started investigating the group and its top executives for alleged lapses in corporate governance and procurement processes.
The investigation, which came to light in January 2026, coincided with Sunway's failed RM11 billion takeover bid for IJM, a deal that would have created Malaysia’s largest property and construction giant.
The scrutiny was not limited to Tan; it also reportedly extended to Seow Lun Hoo, the founder of Newfields Group and a long-time corporate adviser who had been identified as a person of interest at the time.
When contacted, Seow said he had also been cleared by MACC via a May 14, 2026 NFA letter. He declined further comment.
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