PUTRAJAYA, March 16 — The Royal Malaysian Police (PDRM) confirmed that it has conducted inspections of several premises belonging to a businessman following allegations of corporate manipulation linked to the Malaysian Anti-Corruption Commission (MACC).

Inspector-General of Police Datuk Seri Mohd Khalid Ismail, said the investigation was being conducted by the Bukit Aman Anti-Money Laundering (AMLA) Special Task Force.

“We have taken action at several premises linked to the individual in question, the matter is still under investigation. If there is any development, I will hold a press conference,” he said at a press conference at the Putrajaya district police headquarters, here, today.

The media today reported that the Royal Malaysia Police (PDRM) and the Securities Commission of Malaysia (SC) raided premises belonging to corporate figures in Sungai Long and Kemensah, Selangor.

Among the items seized in the operation were two cars, luxury watches, jewellery, cash in ringgit and several foreign currencies as well as documents believed to be related to the investigation.

Previously, Communications Minister Datuk Fahmi Fadzil was reported to have said that the Cabinet had instructed several enforcement agencies including the Royal Malaysia Police (PDRM), SC, MACC and the Inland Revenue Board (IRB) to continue detailed investigations into the issue of corporate manipulation.

He said that appropriate legal action would be taken, including seizing proceeds believed to have criminal elements.

On February 11, international media Bloomberg published an article detailing allegations that a group of businessmen allegedly collaborated with several MACC officers including its chief commissioner Tan Sri Azam Baki to put pressure on corporate figures in a company takeover case.

Azam, however, vehemently denied the allegations and has filed a suit against Bloomberg demanding RM100 million in damages. — Bernama