KUALA LUMPUR, Jan 24 — The Malaysian Anti-Corruption Commission (MACC) is tracing an estimated RM2.5 billion in overseas assets as part of its investigation into IJM Corporation Bhd.
The commission is analysing financial records to determine how the funds were moved abroad, according to a New Straits Times report.
MACC Chief Commissioner Tan Sri Azam Baki said the agency is waiting for responses from foreign enforcement bodies, adding that “we are awaiting feedback from several foreign enforcement authorities regarding the location and registration of overseas assets estimated to be worth RM2.5 billion.”
He said investigators are seeking clarification on whether the assets were registered under individuals, companies or proxies.
Azam said the probe has also highlighted possible weaknesses in IJM’s corporate governance structure.
He said this includes the involvement of individuals with vested interests in decision‑making processes that allegedly benefited others.
He added that investigators are identifying third‑party actors or proxies believed to have been involved in procurement and contract‑related dealings.
It was previously reported that MACC is examining allegations of a money‑laundering scheme involving RM2.5 billion.
Sources told New Straits Times that a member of IJM’s top management, a Tan Sri, and a company adviser have been identified as persons of interest and are believed to be overseas.
This development follows reports that the United Kingdom’s Serious Fraud Office has opened an investigation into alleged money laundering and corruption linked to multi‑billion‑ringgit investment transactions involving the two executives.
Sources also said MACC is looking into claims of share price manipulation.
