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Malaysian Anti-Graft Agency Opens Money Laundering Probe Involving Ijm ...
- On Jan 20, Malaysia's anti‑graft body confirmed it questioned nine people in an alleged 2.5 billion ringgit money‑laundering probe involving IJM, with statements taken including from two people of interest, Azam Baki said.
- Sources cited by Bernama reported the probe came days after Sunway's RM2.71 billion takeover bid, with MACC also investigating alleged share‑price manipulation and seeking Sunway's cooperation.
- IJM said its chairman Krishnan Tan met MACC and company officials are cooperating fully, while refuting money laundering claims and stating `We have not been approached and any reports suggesting otherwise are inaccurate`.
- Public and business groups warned of risks to Bumiputera stakes and public funds, with Akmal Saleh urging Prime Minister Anwar Ibrahim to intervene over concerns that the deal undermines national interests despite IJM's RM964.17 million profit before tax in recent reports.
- IJM says its UK projects were funded from Malaysian facilities since 2012, while Sunway is controlled by Jeffrey Cheah with 0.5 per cent direct and 60 per cent indirect stakes, and EPF holds a 16.8 per cent stake in IJM.
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Leaning Left0Leaning Right2Center2Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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