[UPDATED] RM416mil false claims: Ex-Maju Holdings executive remanded

New Straits Times

05-05-2025

PUTRAJAYA: The former head of finance at Maju Holdings has been remanded over the alleged submission of false claims amounting to RM416 million, linked to funds from a RM1.3 billion sukuk issuance for the 18km extension of the Maju Expressway (MEX II).
Assistant Registrar Siti Roslizawati Mohd Zanin granted a five-day detention for the suspect, after the Malaysian Anti-Corruption Commission (MACC) had applied for a seven-day remand.
Another man, the owner of the subcontractor company involved in the MEX II project, who was previously arrested and released, has been rearrested by the MACC over a separate allegation of submitting false claims. He will be in the commission's custody for two days.
The sukuk, issued by MEX II Sdn Bhd, was owned by Maju Holdings Sdn Bhd. Maju Holdings also owns Maju Expressway Sdn Bhd, the operator of the 26km highway commonly known as MEX, connecting Putrajaya and Cyberjaya with Kuala Lumpur.
The duo are being investigated under Section 18 of the MACC Act 2009 for intending to deceive by making false claims.
The 18km MEX II expressway was initially scheduled to be completed in October 2019. However, in December, the project missed its original completion target due to cash flow issues and a stop-work order on key structures.
Between 2020 and 2021, the delays worsened, sukuk payments were deferred, and the project's bond ratings were downgraded.
Last week, four individuals, including a "Datuk Seri", were remanded in connection with the alleged submission of false claims amounting to RM360 million between 2016 to 2017.
On May 3, a former chief executive officer was also remanded for three days.
Earlier this month, Works Minister Datuk Seri Alexander Nanta Linggi said the government was actively engaging with stakeholders to resolve the prolonged delays in the MEX II project.