Ringgit Weakened in Feb
A company director with the title of Datuk, aged in his 50s, was arrested by the Malaysian Anti-Corruption Commission (MACC) on July 2, 2025, for allegedly laundering approximately RM75 million. The arrest is part of an investigation under Ops Fibre, linked to a RM400 million loan approval for a fibre network development project in 2012. The suspect is believed to have channeled RM75 million to a company he owns. He was remanded for four days until July 6, 2025, following his arrest at MACC headquarters. MACC also raided four locations in Selangor and Kuala Lumpur and froze 12 bank accounts worth about RM400,000. The investigation is being conducted under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
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