IJM Chairman Cooperates Fully with MACC Investigation
Tan Sri Krishnan Tan, the non-executive chairman of IJM Corporation Bhd, has affirmed his complete cooperation with the Malaysian Anti-Corruption Commission (MACC) regarding an ongoing investigation. In a statement released yesterday, Tan emphasized his full support for the authorities and reiterated his commitment to assisting them throughout the process.
He clarified his role within the conglomerate, stating that he is not involved in the day-to-day operational or management aspects of the group. Tan expressed his unwavering confidence in Malaysia’s legal and enforcement systems, underscoring his belief in the fairness and efficacy of these processes. Due to the sensitive nature of ongoing investigations, he deemed it inappropriate to offer further comments at this juncture.
Reports indicated that Tan was briefly detained by the MACC on Thursday, assisting with their inquiries before being released later the same day. MACC Chief Commissioner Tan Sri Azam Baki reportedly cited Tan’s health condition as a factor in the decision for his release.
IJM Corporation Bhd itself has issued a separate statement, confirming its own full cooperation with the investigative bodies. The company has been diligently responding to all requests made by the authorities and has made relevant information and personnel available to ensure the investigation proceeds smoothly.
Ensuring Business Continuity and Corporate Integrity
The company has moved to reassure its stakeholders, including shareholders, employees, and customers, that its business operations are proceeding as normal. The board of directors and the management team remain steadfast in their focus on maintaining business continuity, preserving customer confidence, and upholding strong corporate governance principles.
IJM highlighted the robust measures it has implemented to ensure its operations are conducted with the highest levels of integrity and are free from any corrupt practices. The group has in place comprehensive governance frameworks, including an Anti-Bribery Management System that has been certified to the ISO 37001:2025 standard. This certification underscores IJM’s commitment to international best practices in combating bribery and corruption.
As the investigation is still active, IJM stated that it will refrain from providing further detailed comments at this stage. However, the company pledged to issue updates as and when appropriate, ensuring compliance with all legal and regulatory requirements.
Addressing Allegations of Money Laundering
Further reports have emerged suggesting that the MACC is investigating allegations of money laundering connected to IJM. The company has categorically rejected these claims, describing them as unfounded.
In January, it was reported that MACC investigators, accompanied by officials from the Inland Revenue Board, visited IJM’s offices to collect necessary documents as part of their inquiry. This action by the authorities signifies the commencement of information gathering related to the ongoing investigation. IJM’s proactive stance and transparent communication aim to mitigate concerns and maintain confidence during this period. The company’s commitment to ethical conduct and its established governance structures are central to its response to these allegations.
