The Malaysian Anti-Corruption Commission (MACC) has confirmed that three investigation papers have been opened into several issues involving IJM Corporation Bhd, including alleged overseas financial transactions and investments worth about £476.5 million (RM2.5 billion).
MACC Chief Commissioner Tan Sri Azam Baki said the probe now covers several key areas, including alleged bribery linked to a project, possible abuse of power, corporate governance concerns, and an additional investigation into alleged share “tip-off” activities involving Sunway.
According to Azam, the MACC is also working with the United Kingdom’s Serious Fraud Office (SFO) on information-sharing related to the alleged overseas transactions, with investigations ongoing at multiple levels.
He further disclosed that the relevant chairman had recently been called in to assist investigators over one of the matters under review. At the same time, the agency is examining whether the broader episode involves elements of corruption, abuse of authority and wider governance failures.
The latest development follows earlier MACC action involving a top IJM management executive in his 70s, who was investigated over allegations linked to procurement procedures, corporate governance, financial transactions and ownership of overseas assets. On January 19, 2026, MACC’s Special Operations Division began enforcement action before freezing 70 personal and company-related bank accounts involving about £5.83 million (RM30.6 million).
Earlier media reports also said the probe had been linked to allegations of money laundering and possible manipulation surrounding corporate transactions, including during the period when Sunway’s proposed takeover of IJM, valued at about £2.10 billion (RM11 billion), drew market attention.
However, as of March 4, 2026, the MACC has stressed that investigations are still ongoing and that no final conclusions have been officially announced.
In short, the matter is no longer confined to a single investigation. It has now expanded into three separate probes, covering the alleged £476.5 million (RM2.5 billion) in overseas investments, project-related corruption concerns, and share tip-off claims linked to Sunway.
