[UPDATED] MACC probes dubious investments in GLC linked to 'Tan Sri'

New Straits Times

22-05-2025

PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) will be gathering information from at least three countries as part of an investigation into questionable investment transactions involving a government-linked company.
Its Chief Commissioner Tan Sri Azam Baki said the countries identified included Brazil, the Netherlands, and Singapore.
"Testimonies and evidence relating to these overseas financial transactions are crucial in supporting the ongoing investigation into alleged corruption and money laundering," he told reporters today.
He added that two Malaysians, believed to have acted as proxies in the investment activities, were also being tracked down.
The probe is centred on a prominent corporate figure bearing the title "Tan Sri", suspected of involvement in money laundering linked to the ownership of Sapura Energy Bhd (SEB) shares worth over RM500 million.
"To date, we have recorded statements from five individuals, including the Tan Sri in question," Azam said.
"We expect to call in at least 13 more individuals to assist with the investigation."
He said that the MACC had frozen over 100 bank accounts linked to the Tan Sri, his family members, and associated companies, amounting to more than RM217 million.
On May 9, Sapura Energy Bhd issued a statement assuring clients, partners and stakeholders that its business operations and financial activities — including access to its bank accounts — remained unaffected and would continue as usual.
The assurance followed news reports citing anonymous sources regarding the MACC investigation into a corporate figure, with speculation linking the probe to SEB shares and the historic merger between SapuraKencana Petroleum Bhd and Sapuracrest Petroleum Bhd.
On May 8, it was reported that the MACC had opened an investigation paper against the individual, suspected of money laundering in relation to SEB shareholdings.
Sources indicated that the investigation also covered suspected corruption involving several investments made after the merger of SapuraKencana Petroleum Bhd and Sapuracrest Petroleum Bhd — the entities that later formed Sapura Energy Bhd.
Searches were carried out at several locations, including Sapura@Mines, Menara Permata Sapura — which houses Sapura Holdings Sdn Bhd — as well as the individual's residences in Selangor and Kuala Lumpur.