MACC Launches Probe into IJM Corp Over Alleged RM2.5 Billion Money Laundering Scheme

KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC), also known as SPRM, is investigating allegations of a RM2.5 billion money laundering scheme involving senior executives at IJM Corporation Bhd. Sources indicate that a Tan Sri-title holder in top management and a company adviser have been identified as persons of interest, though both are currently overseas.The probe stems from a related investigation by the United Kingdom’s Serious Fraud Office (SFO) into suspected corruption and money laundering tied to multi-billion-ringgit investments linked to the duo.

IJM Corp

MACC is also examining claims of share price manipulation, reportedly occurring amid Sunway Group’s proposed RM11 billion takeover of IJM, which aims to reshape Malaysia’s property and construction sectors.MACC Chief Commissioner Tan Sri Azam Baki confirmed an investigation is underway, with more details to be released progressively. The agency is gathering further information before formalizing the case, and the development has raised concerns over the Sunway-IJM merger’s progress. IJM has acknowledged regulatory visits but affirmed normal operations continue.

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