Latest news with #RM360mil
The Star
12-06-2025
- The Star
MACC grills Tan Sri over alleged sukuk fund misuse
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has questioned a Tan Sri for six hours in connection with an investigation into the alleged misappropriation of sukuk funds meant for a Klang Valley highway project. MACC Chief Commissioner Tan Sri Azam Baki said the statement was recorded yesterday and concluded at 3pm. Another session is scheduled for today. Due to health reasons, the questioning took place at the Tan Sri's house in the Klang Valley. To date, MACC has interviewed 52 witnesses, including the Tan Sri and his family members. A separate raid was also conducted at his residence in Melaka, although no items were seized. The investigation centres on the suspected misappropriation of sukuk bonds issued to finance the construction of the highway. On June 3, MACC seized a luxury condominium, a plot of land valued at RM24.5mil, and nine vehicles worth RM7.65mil. Authorities also froze 14 personal bank accounts with RM4.5mil and eight company accounts holding RM33mil. In addition, anti-graft officers seized luxury watches worth approximately RM25mil, handbags valued at RM3mil, jewellery and diamonds worth RM6mil, four horses estimated at RM400,000, and premium alcoholic beverages valued at RM3mil. Azam previously disclosed that between 2016 and 2020, investigations revealed misconduct involving RM1.35bil in approved sukuk funds. This included false claims totalling RM360mil, RM416mil, and RM50mil through other bank facilities. 'The RM1.67bil highway project also failed to meet its completion schedule. Investigations are now focused on RM12bil in alleged bribes paid to certain parties as an inducement to facilitate the movement of funds out – and back – to the suspect,' Azam said in a June 3 statement, adding that the funds are also believed to have been used for money laundering activities. — Bernama
The Star
05-05-2025
- The Star
Datuk re-arrested over submission of false claims worth RM450mil
KUALA LUMPUR: A man with the title of Datuk who was released from remand on Saturday (May 3) was rearrested by the Malaysian Anti-Corruption Commission (MACC) in connection with an ongoing case of submitting false claims worth RM450mil. An MACC source said that the man in his 60s was arrested with another suspect, in his 50s, when they showed up at the MACC Headquarters in Putrajaya at 7pm on Sunday to provide their statements. Both men have been remanded this morning, with the Datuk being remanded for two days until Tuesday, and the other man for five days until Friday. "Preliminary investigations found both suspects were believed to have submitted false claims worth about RM450mil using sukuk funds and obtained facility from a regional office in a highway construction project in Klang Valley worth about RM1.3bil. "The arrests follow previous arrests involving false claims worth about RM360mil, with a total of RM800mil," they said, adding that five individuals were remanded over the case, with four being released on MACC bail last week. Meanwhile, MACC investigation division senior director Datuk Zainul Darus confirmed the arrests when contacted, adding that the case is being investigated under Section 18 of the MACC Act 2009. - Bernama
The Star
04-05-2025
- The Star
Former CEO in hot water
KUALA LUMPUR: A former chief executive officer of a company has been remanded for three days until tomorrow for allegedly submitting claims containing false particulars amounting to RM360mil. The remand order was issued by Registrar Eleanor Mako Timothy following an application by the Malaysian Anti-Corruption Commission (MACC) at the Putrajaya Magistrate's Court yesterday. According to a source, the suspect, a man in his 40s, was arrested at about 11pm on Friday when he went to give his statement at the MACC headquarters in Putrajaya. 'Initial investigations found that the suspect is believed to be involved in submitting documents containing false particulars to make claims amounting to about RM360mil using sukuk funds in a highway construction project worth RM1.3bil," said the source, Bernama reported. MACC senior director of the Investigation Division Datuk Zainul Darus, when contacted, confirmed the arrest and said that the case was being investigated under Section 18 of the MACC Act. He said four individuals, three men and one woman, including one with the title Datuk Seri, aged between 40 and 80, who were remanded last Wednesday in connection with the same case, had been released on MACC bail.
The Star
03-05-2025
- Business
- The Star
Former CEO remanded for submitting RM360mil in false claims
KUALA LUMPUR: A former CEO of a company has been remanded for three days until Monday (May 5) for allegedly submitting claims containing false particulars amounting to RM360mil. The remand order was issued following an application by the Malaysian Anti-Corruption Commission (MACC) at the Putrajaya magistrates' court on Saturday (May 3). According to a source, the suspect, in his 40s, was arrested at about 11pm on Friday (May 2) when he went to give his statement at the MACC headquarters in Putrajaya. 'An initial investigation found that the suspect is believed to be involved in submitting documents containing false particulars to make claims amounting to about RM360mil using sukuk funds in a highway construction project worth RM1.3bil,' said the source. MACC senior director of the investigation division Datuk Zainul Darus confirmed the arrest and said the case was being investigated under Section 18 of the MACC Act 2009 related to the offence of intending to deceive by providing false claims. Zainul said four individuals – three men and one woman, including one with the 'Datuk Seri' title, who were remanded last Wednesday (April 30) in connection with the same case, had been released on MACC bail.- Bernama
The Star
03-05-2025
- Business
- The Star
Stalled Mex II project to be reassessed, says Works Minister
BUKIT KAYU HITAM - The extension project of the Maju Expressway (Mex II), which connects Putrajaya to KL International Airport (KLIA) is facing challenges, but efforts are actively underway by various parties to ensure its continuation, says Datuk Seri Alexander Nanta Linggi. The Works Minister acknowledged that the project had encountered several challenges, but said the government was not remaining idle and was committed to finding a solution. He added that the government is working closely with all stakeholders to resolve the prolonged delays of the stalled project. "As is well known, the Mex II project is facing completion issues. However, the good news is that all parties involved, including the Finance Ministry, Works Ministry, and the Public Works Department (JKR), are working to resolve this matter," he said at a press conference after a working visit to the Immigration, Customs, Quarantine, and Security (ICQS) Complex in Bukit Kayu Hitam on Saturday (May 3). The 18km Mex II Highway project began construction in 2016 and was scheduled for completion in December 2019 but was halted due to financial issues and is now under investigation by the Malaysian Anti-Corruption Commission (MACC). "The project developer is also working to secure new financing to resume construction. "Currently, the matter is still in the resolution phase, so I do not wish to comment in detail yet," he added. He further mentioned that several important meetings are expected to take place soon, chaired by the Works Ministry's deputy secretary-general. "These meetings are expected to determine the next steps, and we will observe developments afterwards," he said. The 18km extension project of the Maju Expressway has come under scrutiny following the MACC investigation into allegations of false claims involving RM360mil. The media had previously reported that four individuals, including a Datuk Seri, were detained concerning the investigation of the project, believed to be linked to funds obtained through the issuance of sukuk for the project.
