KUALA LUMPUR — The Malaysian Anti-Corruption Commission (MACC) has arrested the chairman of IJM Corporation Berhad in connection with an investigation into alleged corporate governance issues, procurement processes, financial transactions and the ownership of overseas assets estimated to be worth about RM2.5 billion.
According to a source, the male suspect, who is in his 70s, was detained at about 7pm on Wednesday at the MACC headquarters in Putrajaya after officers carried out a raid at his residence.
“MACC conducted inspections and searches at three additional locations, namely a fund and investment management institution, an investment bank and the suspect’s home,” the source said.
The source added that preliminary investigations revealed the investment bank had been appointed to manage a takeover bid process involving IJM Corporation Berhad, including regulatory dealings with a self-funded statutory body.
On Jan 19, the MACC’s Special Operations Division launched an investigation into the suspect over alleged irregularities in corporate governance, procurement procedures and financial transactions, as well as the ownership of overseas assets valued at approximately RM2.5 billion.
“Initial findings indicate there may be elements of offences under relevant legal provisions,” the source said.
As part of the probe, MACC has frozen 70 personal and corporate bank accounts linked to the suspect, involving a total sum of about RM30.6 million.
Investigations are also focusing on tracing and seizing other assets suspected to have been obtained through money laundering activities. So far, 15 individuals, including the suspect’s wife, have been called in to record their statements.
Meanwhile, Senior Director of the Special Operations Division (BOK) Datuk Mohamad Zamri Zainul Abidin confirmed the arrest when contacted.
“The focus of the investigation is on offences under Section 16 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001),” he said.
He added that the suspect was released within 24 hours after his statement was recorded due to health issues. – February 6, 2026