KUALA LUMPUR — Former Economy Minister Datuk Seri Rafizi Ramli has yet to receive any official notification from the Malaysian Anti-Corruption Commission (MACC) regarding the ongoing investigation into alleged investment mismanagement tied to a multi-billion-ringgit agreement with a foreign company, valued at RM1.11 billion.
Rafizi’s press secretary, Farhan Iqbal, confirmed the news to Scoop today.
“YB (Rafizi) has not received any notice to provide a statement to the MACC,” he said briefly via WhatsApp.
Earlier, MACC Chief Commissioner Tan Sri Azam Baki confirmed that both a former minister and a ministry’s chief secretary had been summoned to give statements in relation to the case.
The two individuals are among 12 people from various government agencies, including the Economy Ministry, the Malaysian Investment Development Authority (MIDA), and the Ministry of Investment, Trade and Industry (MITI), who have been called in for questioning as part of the probe.
The investigation centres around an agreement between the Malaysian government and UK-based semiconductor company Arm Holdings, which is reportedly valued at around RM1.11 billion. MACC is investigating claims of abuse of power, governance irregularities, and potential fraud linked to the project.
The deal, which was first announced in March 2025, saw Malaysia agreeing to pay approximately US$250 million over 10 years in exchange for access to Arm’s chip design plans. The arrangement was intended to bolster Malaysia’s semiconductor industry and stimulate local business growth.
Three non-governmental organisations (NGOs) lodged complaints, prompting MACC to review the relevant documents and launch a formal investigation into the matter.
The allegations suggest that the agreement may have been finalised without full approval from the Finance Ministry and other pertinent trade bodies, with critics arguing that the terms may not be in the public’s best interest.
Furthermore, MACC is actively seeking information about the whereabouts of a former aide linked to the project, as part of its efforts to interview all key figures connected to the agreement. — March 4, 2026