KUALA LUMPUR – Tan Sri Krishnan Tan has issued a personal statement clarifying that he is not involved in the daily operations of IJM Corporation Berhad (IJM), following media reports about an ongoing investigation by the Malaysian Anti-Corruption Commission (MACC).
The Non-Executive Chairman of IJM, Tan explained that his role within the company is purely advisory and does not extend to management activities. This clarification aims to distinguish his personal actions from the overall operations of the company.
“I refer to the media reports relating to the investigations against me by the Malaysian Anti-Corruption Commission (MACC). I am the Non-Executive Chairman of IJM Corporation Berhad and I am not involved in the day-to-day operations and management of the Company,” he said in the statement.
“I have fully cooperated with the authorities and will continue to do so. I have full confidence in the enforcement process and the laws of the country. At this juncture, it would not be appropriate for me to comment further as investigations are ongoing.”
Meanwhile, IJM issued a statement assuring its stakeholders that it adheres to stringent governance practices and continues to operate as usual.
The company highlighted its implementation of an Anti-Bribery Management System certified to ISO 37001:2025, which reinforces its commitment to integrity and anti-corruption standards.
“IJM has established adequate procedures and maintains robust governance frameworks, including the implementation of an Anti-Bribery Management System certified to ISO 37001:2025.”
“Appropriate measures have been taken to ensure that the Group’s business is conducted with integrity and free of corruption.”
“The Company is cooperating fully with the authorities, has responded promptly to all requests, and has made available all relevant information and personnel to facilitate the investigation.”
IJM further assured that the company’s operations remain unaffected and its board remains focused on business continuity and maintaining stakeholder confidence.
Investigation Details
On February 6, MACC arrested the 70-something-year-old chairman of IJM in connection with an investigation into alleged corporate governance issues, procurement irregularities, financial transactions, and the ownership of overseas assets worth approximately RM2.5 billion.
A source revealed that the suspect was detained at the MACC headquarters in Putrajaya after a raid at his residence. The investigation also involved searches at three additional locations: a fund management institution, an investment bank, and the suspect’s home. Preliminary investigations indicated possible violations under relevant legal provisions.
The MACC also froze 70 personal and corporate bank accounts connected to the suspect, amounting to RM30.6 million. Further investigations are underway to trace and seize other assets suspected of being linked to money laundering.
MACC has called in 15 individuals, including the suspect’s wife, to record their statements.
Confirming the arrest, Senior Director of the Special Operations Division, Datuk Mohamad Zamri Zainul Abidin, stated that the investigation is focused 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). The suspect was released within 24 hours due to health concerns after giving his statement. – February 8, 2026