KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) is working closely with the UK’s Serious Fraud Office (SFO) in an investigation involving IJM Corporation Bhd, focusing on financial transactions and assets abroad worth approximately RM2.5 billion.
MACC Chief Commissioner Tan Sri Azam Baki confirmed that the SFO is conducting its own investigation into the matter. Both agencies are actively exchanging information to support the inquiry.
“We are coordinating with them,” Azam said in a special press briefing today.
“There are several procedures to follow in terms of evidence collection, but I don’t foresee this being a problem.”
Azam noted that while the two agencies have distinct investigative mandates, they will collaborate closely.
“We are currently in the process of information exchange, not evidence just yet. My officers are communicating directly with the SFO,” he added.
The investigation is expected to take time due to its international scope. Azam explained that the funds, amounting to approximately RM2.5 billion in the UK, could involve issues in the UK, including potential violations of anti-money laundering laws.
“So, here, we are not just investigating but also assisting the UK authorities. This takes time,” he said.
On February 6, the Chairman of IJM Corporation Bhd was arrested to assist in the investigation related to corporate governance, procurement processes, and financial transactions, including the ownership of foreign assets valued at around RM2.5 billion.
MACC reported that the 70-year-old male suspect was arrested at approximately 7 p.m. at the MACC headquarters in Putrajaya after a search was conducted at his residence.
MACC’s Special Operations Division (BOK) began the investigation on 19 January concerning allegations related to corporate governance, procurement processes, financial transactions, and the ownership of foreign assets valued at RM2.5 billion, which could involve offences under relevant legal provisions.
As part of the investigation, MACC froze 70 personal and corporate bank accounts linked to the suspect, with a total amount of approximately RM30.6 million. – February 11, 2026