KUALA LUMPUR, March 8 — The police today confirmed that had investigated the alleged abuse of funds involving RM30.7 million by a subsidiary of Caely Holdings Berhad, following an article alleging the existence of a "corporate mafia" in Malaysia.

Referring to an article online that was published on March 4 which included the words "Rahsia Mafia Korporat Malaysia" or the secret of Malaysia's corporate mafia in its title, DCP Datuk Noorsiah Mohd Saaduddin said the police's commercial crimes investigation department confirmed receiving a police report on May 25 last year.

"That report stated the existence of wrongdoing and abuse of funds involving a total of around RM30.7 million in the management of Caely (M) Sdn Bhd (subsidiary owned by Caely Holdings Berhad)," she said in a statement here.

The full title of the article was "Rahsia Mafia Korporat Malaysia, Victor Chin Boon Long Peralat Penguatkusa Terbongkar", and had alleged that a group of corporate mafia had attempted to take over Caely following enforcement action.

Noorsiah said an investigation paper had been opened under Section 409 of the Penal Code for the offence of criminal breach of trust by agent.

She said the police subsequently made a police report on September 21, 2022 under Section 201 of the Penal Code.

Section 201 covers the offence of causing the disappearance of evidence of an offence committed, or giving false information regarding the offence committed, in order to screen the offender from punishment.

She said both investigation papers for the Section 409 and Section 201 offences have been referred to the Attorney-General's Chambers on February 27 for further instructions and decision.