Latest news with #OpMetal
New Straits Times
19 hours ago
- Business
- New Straits Times
Op Metal probe: MACC now targets law enforcers, port staff
KUALA LUMPUR: Graft busters have their sights set on law enforcement and port authorities at the North Butterworth Container Terminal (NBCT) in Penang as they expand investigations into the scrap metal smuggling operation. The Malaysian Anti-Corruption Commission (MACC) has zeroed in on the unloading of a scrap metal shipment at the NBCT and has not ruled out the possibility that the company in Batu Maung, Penang, which is under investigation, had inside help from law enforcement and port authorities. MACC Chief Commissioner Tan Sri Azam Baki told the New Straits Times the commission was looking at elements of graft and abuse of power that had cost the government an estimated RM950 million in lost export duties over the past six years. This latest development is a follow-up to the ongoing Op Metal, where MACC's Special Operations Division, through a multi-agency task force with the Customs Department, Internal Revenue Board and Bank Negara Malaysia, raided 19 locations in Penang, Selangor, Negri Sembilan, Johor and Kedah. "We do not rule out the possibility of graft. Further investigations are being conducted," he said. Azam said investigations revealed that the scrap metal came from both domestic and foreign sources. "Further checks also revealed that the processed scrap metal would either be exported or sold to local companies. We are also looking into the likelihood that these activities avoided Customs duties and taxes." Azam said the focus of the investigation was on a scrap metal company owner, a Penang-based "Datuk Seri" whose home in Batu Maung was also raided in the operation. The "Datuk Seri", who was abroad during the raid, had his statement recorded by the MACC yesterday. It was previously reported that a syndicate operating in five states was smuggling scrap iron out of the country, leading to the government losing about RM950 million in export duties over the past six years. Initial investigations revealed that the syndicate would export smuggled scrap iron to India and China, among other countries, by declaring them to be machinery or machine parts, or other metals that were not subject to export duties of 15 per cent. Sources told the NST the syndicate had bribed several law enforcement officers to ensure the consignments were cleared without paying the 15 per cent export duties. Penang Port Sdn Bhd chief executive officer Datuk Sasedharan Vasudevan said the port operator did not have knowledge of the content inside containers. "Only the Customs and other government agencies will know the nature as well as cargo content," he said.
New Straits Times
18-07-2025
- Business
- New Straits Times
Op Metal: MACC freezes RM332.5mil in assets, bank accounts tied to syndicate
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts amounting to RM332.5 million in connection with a scrap metal smuggling syndicate operating in five states. The seizures were made following raids conducted on Monday as part of investigations into the export of scrap metal using false declarations to avoid tax, Utusan Malaysia reported, citing sources. The amount includes assets and accounts belonging to individuals and companies linked to the syndicate, which is believed to have defrauded the government of over RM950 million in export duties over the past six years. A prominent businessman with a "Datuk Seri" title is among those under investigation and is expected to return to the MACC headquarters this Monday for further questioning. "The individual's statement was recorded yesterday after returning from overseas, but he was not arrested," a source was quoted as saying. The businessman is suspected of declaring scrap metal exports as other metal-based machinery and items, which are not subject to the 15 per cent export duty imposed by the government. The syndicate's operations came to light after the MACC's Special Operations Division launched Op Metal, a coordinated raid involving the Customs Department, Inland Revenue Board, and Bank Negara Malaysia. Assets seized include three bungalows, a penthouse, shop lots, plots of land, an oil palm plantation, luxury vehicles, and high-end watches, all estimated to be worth over RM183 million. In addition, authorities froze 45 corporate accounts and 82 individual bank accounts valued at approximately RM51 million. MACC chief commissioner Tan Sri Azam Baki previously confirmed the seizures, which included real estate, luxury cars, and watches. The ongoing investigation is focused on offences under Sections 16 (bribery) and 18 (false claims) of the MACC Act 2009. Authorities are also looking into potential money laundering activities, supported by investigations under the Income Tax Act 1967 and the Customs Act 1967.
Malaysian Reserve
17-07-2025
- Business
- Malaysian Reserve
NationGate says MACC raid not expected to impact financials or operations
NationGate Holdings Bhd said the recent raid by the Malaysian Anti-Corruption Commission (MACC) on its wholly owned subsidiary is not expected to significantly affect its financial or operational performance. 'For the time being, the MACC raid is not expected to have significant impact on the financial and operational of the group,' NationGate said in a filing with Bursa Malaysia today, in response to a query from the regulator. The electronics manufacturing services provider clarified that the MACC's search and seizure was confined to NationGate Solution (M) Sdn Bhd, which is not a major subsidiary under Bursa's Main Market Listing Requirements. The investigation is not believed to extend to other entities within the group. On July 15 MACC had raided the premises of NationGate Solution in connection with an ongoing investigation into alleged scrap metal smuggling. The market reacted swiftly to the news. NationGate's shares plunged as much as 16% or 26 sen shortly after trading resumed from the midday break. The stock closed the day down 7.5% at RM1.49, marking its lowest finish since June 23. The raid is believed to be part of a broader nationwide operation known as 'Op Metal,' which targets scrap metal smuggling syndicates operating across five states. Bernama reported that the syndicates are suspected of bribing enforcement officers and may have caused the government tax losses exceeding RM950 million. — TMR
Barnama
15-07-2025
- Barnama
'Op Metal': MACC Raids Two E-waste Recycling Plants In Penang
BUTTERWORTH, July 15 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) today raided two electronic waste (e-waste) recycling factories suspected of bribing enforcement officers, leading to significant tax revenue losses. The coordinated raids, conducted at 9 am under Op Metal, targeted one factory on Jalan Perusahaan Perai 3 in the Perai Industrial Area and another in Bukit Minyak, Bukit Mertajam. The action follows the recent exposure of a scrap metal smuggling syndicate, in which scrap metal was falsely declared as machinery and other items not subject to the government's 15 percent export tax. Now in its second day, Op Metal is being led by MACC's Special Operations Division in collaboration with the Royal Malaysian Customs Department, Inland Revenue Board (IRB) and Bank Negara Malaysia under a multi-agency task force. MACC's Anti-Corruption Tactical Squad secured both premises, documented 25 local and foreign workers, and detained a man in his 50s, believed to be the chief operating officer, for further questioning and document retrieval. Meanwhile, MACC chief commissioner Tan Sri Azam Baki confirmed that 13 additional locations across Penang, Kedah, Johor and the Klang Valley were raided today. 'MACC is now identifying those colluding with the syndicate that smuggled scrap metal and e-waste through Port Klang and Penang Port, causing an estimated tax loss of over RM950 million over the past six years,' he said. Earlier, Bernama reported that the MACC had launched a major crackdown on scrap metal smuggling syndicates operating across five states, believed to have bribed enforcement officers to evade taxes, resulting in over RM950 million in revenue losses for the government. -- BERNAMA
The Sun
15-07-2025
- Business
- The Sun
MACC seizes RM183m in assets, freezes RM51m accounts in Op Metal
GEORGE TOWN: The Malaysian Anti-Corruption Commission (MACC) has seized assets worth over RM183 million and frozen bank accounts totaling RM51 million in a crackdown on scrap metal smuggling syndicates. The operation, codenamed Op Metal, targeted networks across five states, uncovering illicit activities linked to tax evasion and corruption. Authorities confiscated eight high-value properties in Penang, including bungalows in Batu Maung, a penthouse in Tanjung Tokong, and commercial land in Bayan Lepas. Over 1,960 acres of oil palm plantation land in Kuala Krai, Kelantan, were also seized. Among the luxury items recovered were six high-end vehicles—a Porsche Cayenne, Range Rover, BMW, Volvo, Toyota Land Cruiser, and Toyota Alphard—valued at RM1.9 million. Five luxury watches, including a Patek Philippe, Rolex, and Omega models, worth RM740,000 were also confiscated. A source revealed that most assets belonged to a foreign businessman with a 'Datuk' title, who operates a scrap metal firm and resides in Batu Maung. The suspect was abroad during the raids but is expected to return soon. MACC Chief Commissioner Tan Sri Azam Baki confirmed the seizures and stated that 45 company and 82 personal bank accounts were frozen. Further raids were conducted at 13 locations in Penang, Kedah, Johor, and the Klang Valley. Investigations focus on violations under the MACC Act 2009, money laundering, and tax offences. The syndicates allegedly smuggled scrap metal and e-waste through Port Klang and Penang Port, costing Malaysia RM950 million in lost tax revenue over six years. The operation involved collaboration with the Royal Malaysian Customs Department, Inland Revenue Board, and Bank Negara Malaysia. – Bernama
