Bukit Aman officers visit PDC headquarters as part of national MBI probe

New Straits Times

3 days ago

GEORGE TOWN: Officers from the Bukit Aman Special Task Force on Anti-Money Laundering (AMLA) visited the Penang Development Corporation (PDC) headquarters on July 9, as part of a nationwide investigation into the Mobility Beyond Imagination (MBI) investment scheme.
The visit, conducted in line with anti-money laundering protocols, was aimed at tracing financial flows possibly linked to the scheme.
It included the formal submission of a request letter seeking documentation related to the Penang World City (PWC) project, particularly transactions involving Mutiara Metropolis Sdn Bhd (MMSB), formerly known as Tropicana Ivory Sdn Bhd (TISB).
Chief Minister Chow Kon Yeow, who also chairs the PDC, confirmed the visit.
He said PDC would fully cooperate with the authorities and had already complied with the request.
"On July 18, PDC submitted all the required documents, including minutes of meetings and financial documents, to the Bukit Aman Special Task Force.
These pertain to payments made by MMSB to PDC for land purchases between 2011 and 2019," he said.
Chow emphasised that PDC was not the subject of the investigation, but assisting as a stakeholder involved in earlier commercial transactions that might be relevant to the probe.
"This engagement is part of a broader, multi-jurisdictional effort involving numerous entities across the country.
"PDC remains committed to due process and has responded in full compliance with all procedural requirements," he added.
The PWC project, a major development initiative, is governed by four key agreements between Chief Minister Incorporated (CMI), PDC, Ivory Properties Group Bhd (IPGB), and TISB.
These agreements span from 2011 to 2019, including a Novation cum Supplemental Agreement signed on Nov 1, 2019, that brought MMSB into the project.
As of July, MMSB reported that reclamation works had reached 68 per cent completion, with the overall development progress — covering both current and future phases — at around 44 per cent.
Chow reiterated that PDC would continue to provide full assistance to enforcement agencies within its capacity and remain committed to the principles of transparency, accountability, and good governance.
Last month, the Penang government told the New Straits Times that it would leave it to the police to probe the investment scam by the now-defunct MBI International Group, which preyed mainly on Chinese nationals.
Chow had said that it was the responsibility of the police to investigate and charge, andstressed that his administration had nothing to do with the matter.