Overview
- Malaysia’s anti-graft agency confirmed an investigation into alleged RM2.5 billion money laundering linked to IJM, with statements taken from nine people including two persons of interest.
- Investigators froze 55 personal and corporate bank accounts totaling RM15.8 million under Ops Heart, and no arrests have been made.
- Searches were conducted at four locations as the inquiry examines corporate governance, procurement, financial transactions, and overseas asset ownership under the MACC Act and anti–money laundering law.
- IJM said chairman Krishnan Tan met MACC officers and the company is cooperating, while refuting money-laundering allegations and denying any contact from the UK Serious Fraud Office.
- The case unfolded after Sunway’s takeover approach for IJM; MACC has asked Sunway to assist, IJM shares swung sharply with drops of up to 16.4% intraday, and critics have raised national-interest and Bumiputera equity concerns.