KUALA LUMPUR — The Malaysian Anti-Corruption Commission (MACC) has seized assets worth RM11.4 million, including cash, luxury watches, gold, and high-end vehicles, in an investigation into corruption and abuse of power linked to army procurement contracts.
MACC chief Tan Sri Azam Baki confirmed at a press conference today that the confiscated assets include RM5.8 million in cash (both local and foreign currency), a Range Rover, 26 luxury watches, mostly Rolexes, valued at RM2.3 million, and a range of gold, diamonds, and jewellery. Additionally, two kilograms of gold, valued at RM1.4 million, have been seized, Bernama reported.
Azam clarified that the operation was based on intelligence received by MACC officers, with raids carried out in Kuala Lumpur and Besut, Terengganu. A total of 23 individuals, including armed forces personnel and civilians, have been arrested in connection with the case.
“The majority of the seized watches are Rolex, and we have confirmed their authenticity,” Azam stated. “We are presenting these items not to showcase them, but as evidence to ensure that the public receives accurate information.”
He also dismissed claims made by certain parties who alleged that they were the informants responsible for the seizures, stating, “This operation is the result of MACC’s own actions and intelligence.”
In addition to the physical assets, MACC has frozen 75 company accounts worth between RM32.5 million and RM35 million as part of its investigation.
Azam reiterated that the investigation is ongoing and that the assets seized will serve as key evidence in the case. A final investigation report will be submitted to the Deputy Public Prosecutor’s office soon.
MACC is also investigating the possibility of a wider corruption network within the armed forces, with a second related case involving additional seizures of RM1.3 million in cash, RM721,000 in foreign currency, and other luxury goods. The investigation is nearing completion, with more arrests expected.
“We are not just looking at the money transactions. We need to trace who provided the money, who received it, and the purpose behind it,” Azam said, emphasising the complexity of the investigation.
Both cases are expected to be referred to the Attorney General’s Chambers (AGC) by the end of next week for further action. – January 15, 2026