Malaysia
IJM says limited bank accounts frozen in MACC probe, operations unaffected
IJM also said it is cooperating fully with the authorities and remains committed to strong corporate governance, transparency, and integrity. — File pic

 

PETALING JAYA, Jan 21 — IJM Corporation Berhad said today that a limited number of its bank accounts have been temporarily restricted as part of the Malaysian Anti-Corruption Commission’s (MACC) ongoing enquiries, but stressed that the measures do not affect its daily business operations.

In a statement this evening, the construction and property group said the affected accounts comprise less than 10 bank accounts belonging to IJM, and the restrictions were imposed to facilitate MACC’s investigation.

IJM also said it is cooperating fully with the authorities and remains committed to strong corporate governance, transparency, and integrity.

Earlier today, Bernama reported that MACC conducted inspections and searches at four separate locations yesterday as part of its investigation into the Op Heart case involving IJM, which reportedly includes probes into corporate governance, procurement processes, financial transactions and ownership of overseas assets estimated to be worth about RM2.5 billion.

The report quoted a source as saying MACC also froze 55 private bank accounts and related company accounts, estimated at about RM15.8 million, and that the investigation is also focusing on tracing and seizing other assets suspected to be linked to money laundering.

The source added that the recording of statements from two top management officials of the companies involved, which began yesterday, will continue today, with five more witnesses expected to be called.

To date, nine statements have been recorded, including those of the two top management officials.

MACC chief commissioner Tan Sri Azam Baki confirmed that the investigation is being conducted under Section 16 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).

Bernama also reported that MACC was previously focusing on allegations involving IJM, with internal sources identifying a top management member holding the title Tan Sri and an advisor as persons of interest.

 

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