Malaysia’s anti-corruption agency has detained the chairman of construction group IJM Corporation for questioning as part of an investigation into alleged corruption involving billions of ringgit, authorities said on Friday.
The Malaysian Anti-Corruption Commission (MACC) confirmed that the individual was taken in for questioning on Thursday at the agency’s headquarters, following a raid on his residence. While the agency did not name the suspect, IJM has previously identified its chairman as Krishnan Tan.
According to the MACC, the probe centres on suspected misconduct involving about 2.5 billion ringgit (roughly $634 million). The investigation is being conducted under legislation related to bribery and money laundering, said Mohamad Zamri Zainul Abidin, senior director of the MACC’s special operations division.
The chairman was released within 24 hours after giving his statement, with the agency citing health concerns as the reason for his release.
IJM Corporation Bhd did not immediately respond to a request for comment. However, the company said last month that its chairman had already met with investigators and was cooperating fully, alongside other company officials questioned in connection with the case.
The development comes at a sensitive moment for IJM, which is currently the target of a proposed $2.71 billion takeover by rival conglomerate Sunway Bhd. If completed, the deal would create one of Malaysia’s largest construction groups.
The MACC has not disclosed further details about the allegations or the potential timeline of the investigation.