KUALA LUMPUR: The chairman of IJM Corporation Bhd has been detained in connection with investigations into corporate governance issues, procurement processes, financial transactions and the ownership of overseas assets estimated to be worth about RM2.5bil. “The MACC also carried out inspections and searches at three additional locations, namely a fund and investment management institution, an investment bank, and the suspect’s residence. “Preliminary investigations found that the investment bank had been appointed to manage a takeover offer process involving IJM Corporation Bhd, including regulatory matters with a self-funded statutory body,” the source said. Following this, the MACC froze 70 personal and corporate bank accounts linked to the case, involving funds totalling approximately RM30.6mil. He added that the suspect was released within 24 hours after his statement was recorded due to health concerns.

Source: The Star February 06, 2026 15:53 UTC