Chairman of Malaysia's IJM says he's not involved in daily operations amid corruption probe, Krishnan Tan said in a personal statement that he is the non-executive chairman. He said he is not involved in the day-to-day operations and management of IJM.
Krishnan Tan said he has fully co‑operated with the authorities and will continue to do so, and that further comment would be inappropriate while investigations are ongoing. The Malaysian Anti-Corruption Commission released the chairman within 24 hours of detention, citing health concerns, the MACC said.
IJM Corporation Bhd issued a separate statement saying the group has established adequate procedures and robust governance frameworks. The company said it has implemented an Anti‑Bribery Management System certified to ISO 37001 2025 and that it is cooperating fully with authorities.
IJM also said it has made available all relevant information and personnel to facilitate the investigation and that business operations continue as usual. The board said it remained focused on business continuity and maintaining confidence among customers and partners.
Investigation Details And Wider Implications
MACC said the probe covers alleged corporate governance issues, procurement irregularities, financial transactions and the ownership of overseas assets estimated at about RM2.5 billion. Authorities carried out a raid at the chairman’s residence and searches at a fund management institution and an investment bank.
The MACC froze 70 personal and corporate bank accounts linked to the suspect, amounting to RM30.6 million, and called in 15 individuals, including the suspect’s wife, to record statements. Investigators are pursuing potential offences under Section 16 of the MACC Act 2009 and Section 4(1) of the AMLATFPUAA 2001, the agency said.
The arrest and probe have coincided with a proposed takeover of IJM by rival conglomerate Sunway. Reuters reported that Sunway has made a US$2.7 billion bid for IJM, and local reports said the investigation could affect Sunway’s intended acquisition valued at over RM11 billion.
IJM and Krishnan Tan have reiterated cooperation with investigators while declining further comment. The company has insisted that appropriate measures are in place to ensure its business is conducted with integrity and free of corruption.
