00:00The Malaysian Anti-Corruption Commission arrested a top IJM Corp Berhad official yesterday
00:06before releasing him within 24 hours. An MACC source said the arrest was linked to the agency's
00:13probe into the conglomerate's corporate governance, procurement processes, financial transactions
00:18and the ownership of assets overseas estimated at about 2.5 billion ringgit.
00:23The source said MACC recently raided three new locations, the official's home, a fund management
00:31firm and an investment bank as part of the investigation. The official in his 70s was
00:38arrested at about 7pm yesterday at the MACC headquarters in Putrajaya before being released
00:44within 24 hours. The source said a preliminary investigation found that the investment bank
00:51was appointed to manage an offer to take over IJM including handling regulatory matters
00:57with a self-funded statutory body. MACC Special Operations Division, Senior Director Zamri Zainal Abidin
01:05confirmed the arrest and said an investigation was being held for accepting gratification
01:10and money laundering.
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