MACC confirms UK cooperation in RM2.5b IJM money laundering probe

KOTA BHARU, Jan 22 — The Malaysian Anti-Corruption Commission (MACC) today confirmed that its investigation into allegations of a RM2.5 billion money laundering scheme involving IJM Corporation Bhd has received cooperation from authorities in the United Kingdom.

MACC chief commissioner Tan Sri Azam Baki said the probe involved cooperation with the UK’s Serious Fraud Office (SFO).

He said several information requests had been submitted by United Kingdom authorities, in line with the MACC’s role as the country’s enforcement agency responsible for investigating corruption, abuse of power and financial crimes.

“When foreign countries conduct investigations, we must also play our part and provide cooperation. This issue is being given due attention,” he said during a press conference after the Program Cakna Rasuah: SPRM Bersama Media Zon Timur here.

On the progress of the investigation, Azam said no new information has been received so far, but the investigation continues, including the summoning two individuals to give statements to the MACC.

He said the MACC required some time, as the case was an old one, believed to have occurred in 2015 or 2016.

“Many things need to be obtained, including specific details regarding this case before further action can be taken,” he said.

Previously, the SFO was reported to have launched an investigation into allegations of money laundering and corruption involving investment transactions worth billions of ringgit linked to the two individuals.

It is understood that both individuals are currently overseas and MACC is also probing allegations of share price manipulation.

The alleged manipulation is believed to have taken place when Sunway Group was in the process of acquiring IJM through a transaction valued at RM11 billion.

It was earlier reported that the proposed merger between the two companies could reshape Malaysia’s property and construction sectors, potentially prompting developers and contractors to enhance their strategies and competitiveness.

Meanwhile, Azam said the MACC would continue to implement aggressive measures to combat corruption and strengthen the country’s governance and integrity over the next five years.

According to him, efforts to improve governance must be carried out continuously, regardless of who is administering the country.

Azam said the responsibility to combat corruption does not rest solely with the current government, but that enforcement agencies, including the MACC, must take the lead in fulfilling the trust. — Bernama