MACC probing Sunway’s proposed takeover of IJM

2026-03-04 - 06:34

On Jan 12, Sunway Bhd made a conditional voluntary takeover offer for the entire 3.51 billion shares in IJM Corporation Bhd at RM3.15 per share. PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) is investigating the proposed takeover of IJM Corporation Bhd by Sunway Bhd. MACC chief commissioner Azam Baki said the investigation was among three probe papers involving IJM opened by the anti-graft agency. He said the first case involved a probe by the UK authorities into alleged money laundering linked to about RM2.5 billion invested there. “We are collaborating with the UK authorities and will obtain further information. On our part, we are providing information to the UK authorities. “So far, we have not reached any conclusion in the matter,” he said in a press conference at MACC’s headquarters here. The second case involves an alleged bribe payment linked to a project, for which IJM’s chairman has given his statement. “There is still a long way to go in this investigation,” Azam added. The MACC chief said the probe into Sunway’s proposed takeover of IJM was the latest investigation, and that the agency was looking into possible bribery and governance issues. MORE TO COME