PUTRAJAYA, Feb 11 — The Malaysian Anti-Corruption Commission (MACC) is working with the United Kingdom’s Serious Fraud Office (SFO) in an ongoing investigation involving IJM Corporation Bhd over financial transactions and overseas investments estimated at RM2.5 billion.

Bernama reported that MACC Chief Commissioner Tan Sri Azam Baki said both agencies are coordinating closely and must follow specific procedures in gathering information and evidence.

“I don’t think it should be a problem because both agencies have their own mandates in investigating the case. So we need to ensure that the cooperation benefits both sides.

“So, we’re in the midst of exchanging information now, not yet evidence. My officers are currently communicating with the SFO,” he said in a special interview with several media organisations here today.

Azam said the investigation may take time as the MACC is also awaiting the outcome of the probe being conducted by UK authorities.

“Because the money invested, about RM2.5 billion in the UK, could involve issues in that country, possibly in violation of their anti-money laundering laws.. I don’t know.

“So (over) here, we are not only investigating, but we are also facilitating the UK authorities. So it will take some time,” he said.

When asked about the role of IJM non-executive chairman Tan Sri Krishnan Tan, Azam said the commission would determine whether any offences had been committed.

"We will investigate whether there was any wrongdoing, including the possible abuse of company funds," he said.

The media previously reported that Tan was detained last Thursday to assist in investigations into corporate governance issues, procurement processes, financial transactions and ownership of overseas assets estimated at RM2.5 billion.

He was released later the same day. — Bernama