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New Straits Times
11-06-2025
- New Straits Times
[UPDATED] MACC records Tan Sri's statement over highway sukuk funds misappropriation
KUALA LUMPUR: Graft busters have recorded a statement from the Tan Sri at the centre of investigations into the alleged misappropriation of sukuk funds for the construction of a highway. Malaysian Anti-Corruption Commission Chief Commissioner Tan Sri Azam Baki said two MACC officers took the statement at the Tan Sri's residence here. Azam said that the entire process took place between 9am and 3pm today, and was expected to resume tomorrow due to the Tan Sri's health condition. "To date, MACC has recorded statements from 51 individuals, including the Tan Sri and his family." According to a source, a raid was also conducted at the Tan Sri's residence at Melaka, but no seizures or confiscations were made. It was reported on June 7 that the Tan Sri had been admitted to hospital for medical treatment. MACC had previously obtained confirmation from his doctor before proceeding with questioning. MACC has so far seized RM143 million in connection with the alleged fund misuse. It was reported earlier that MACC investigators are tracking the Tan Sri's luxury vehicles and properties in Malaysia and abroad, including assets in London and Switzerland. The probe also covers the true value of the luxury alcoholic beverages reportedly in his possession. A notice of asset declaration has been served to the Tan Sri and other related parties. To date, seizures include 14 personal bank accounts totalling RM4.5 million; eight company accounts worth RM33 million; a luxury condominium and a plot of land valued at RM24.5 million; nine vehicles worth RM7.65 million; luxury watches worth RM25 million; designer handbags worth RM3 million; jewellery and diamonds worth RM6 million; four horses worth RM400,000; alcoholic beverages worth RM3 million; overseas assets valued at over RM15 million; and gambling-related activities estimated at RM20 million.
Daily Express
11-06-2025
- Business
- Daily Express
MACC questions ‘Tan Sri' who ‘misappropriated' sukuk funds
Published on: Wednesday, June 11, 2025 Published on: Wed, Jun 11, 2025 By: FMT Reporters Text Size: MACC chief Azam Baki said on June 7 that the 'Tan Sri', who was recently discharged from hospital, would be summoned by graft busters. PETALING JAYA: A 'Tan Sri' who allegedly misappropriated sukuk funds for the construction of a highway had his statement recorded by the anti-graft agency at his residence in Bandar Tasik Selatan, Kuala Lumpur, today. The 'Tan Sri' also had his house in Melaka raided by the Malaysian Anti-Corruption Commission (MACC), Sinar Harian reported. Advertisement 'But nothing was seized or confisticated,' the daily quoted a source as saying. On June 7, MACC chief Azam Baki said the 'Tan Sri', who was recently discharged from hospital, would be summoned by graft busters. Media reports also said that 45 witnesses who previously gave statements had been called again to provide additional information. On June 3, MACC seized a luxury condominium, a plot of land worth RM24.5 million, and nine vehicles worth RM7.65 million. It also froze 14 individual bank accounts holding RM4.5 million and eight company accounts holding RM33 million. It likewise seized luxury watches valued at around RM25 million, handbags valued at RM3 million, jewellery and diamonds worth RM6 million, four horses valued at RM400,000, and premium alcoholic beverages worth RM3 million. MACC is also tracking down luxury vehicles and properties owned by the 'Tan Sri', both locally and abroad, including in London and Switzerland. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
11-06-2025
- Business
- New Straits Times
Security tight at Tan Sri's residence as sukuk probe deepens
KUALA LUMPUR: The residence of a businessman bearing the title "Tan Sri", who has been linked to the alleged misappropriation of sukuk funds amounting to millions of ringgit for the construction of a highway in the Klang Valley, was heavily guarded by auxiliary police this morning. Checks by the New Straits Times revealed that several members of the media attempted to enter the gated compound where the highway concessionaire resides, but were turned away. Auxiliary police stationed at the location also instructed members of the press to leave the vicinity. This comes a day after the Malaysian Anti-Corruption Commission (MACC) said that it would be recording the statement of the individual in question regarding the ongoing investigation into the alleged misuse of sukuk proceeds. According to sources, the businessman was initially scheduled to appear at the MACC headquarters in Putrajaya. "Yes, it has been confirmed that he will be present tomorrow (today) at 9am. He has been discharged from hospital after completing medical treatment," a source said. The investigation concerns sukuk funds that were raised for the development of a major highway project in the Klang Valley. Further details are expected following the MACC's questioning. MACC Chief Commissioner Tan Sri Azam Baki had confirmed that the highway concessionaire was the key witness in the investigation. Previously, it was reported that 45 witnesses who had earlier provided statements were called in again to assist with the case by furnishing additional information. On June 3, the MACC disclosed that assets worth approximately RM143 million had been seized in connection with the sukuk fund misappropriation involving the Tan Sri. Investigators are also tracing several luxury vehicles and properties belonging to the businessman, both in Malaysia and abroad — including assets located in London and Switzerland. The Tan Sri is believed to be the central figure in the MACC's probe involving the seizure of high-value assets, which include RM37.5 million in cash from personal and company accounts; properties worth RM24.5 million; nine luxury cars valued at RM7.65 million; exclusive watches (RM25 million); jewellery and diamonds (RM6 million); branded handbags (RM3 million); alcoholic beverages (RM3 million); and four horses valued at RM400,000. Authorities have also traced foreign assets exceeding RM15 million, in addition to suspected gambling activities linked to the Tan Sri totalling RM20 million.
New Straits Times
07-06-2025
- Business
- New Straits Times
Tan Sri in sukuk fund misuse case still hospitalised, yet to give statement
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has yet to record a statement from a Tan Sri in connection with its investigation into the alleged misappropriation of sukuk funds for a highway construction project in the Klang Valley. Sources said this is because the highway concessionaire holder is still undergoing medical treatment at a private hospital. "MACC has not yet recorded the Tan Sri's statement, but the process is expected to take place soon," the source said when contacted. Previously, it was reported that MACC investigators had obtained confirmation from the attending doctor regarding the Tan Sri's health status before proceeding with questioning. So far, 45 witnesses who had earlier provided statements have been recalled to assist with further information. Previously, the MACC revealed that the total amount seized in connection with the alleged misappropriation of sukuk funds stood at RM143 million. It was also reported earlier that MACC investigators are tracing the Tan Sri's luxury vehicles and properties, both in Malaysia and abroad, including in London and Switzerland. In addition, the investigation is also focusing on the actual value of the luxury alcoholic beverages reportedly in the Tan Sri's possession. At the same time, a notice of asset declaration has been served to the Tan Sri and other relevant parties. To date, the seizures include 14 personal bank accounts totalling RM4.5 million; eight company accounts amounting to RM33 million; a luxury condominium and a plot of land worth RM24.5 million; nine vehicles valued at RM7.65 million; luxury watches worth an estimated RM25 million; designer handbags valued at RM3 million; jewellery and diamonds worth RM6 million; four horses valued at RM400,000; alcoholic beverages worth RM3 million; overseas assets estimated to be worth more than RM15 million and gambling-related activities estimated at around RM20 million.
Focus Malaysia
06-06-2025
- Focus Malaysia
MACC seizes RM143m asset from highway concessionaire Tan Sri with luxury u/ground wine cellar
THE Malaysian Anti-Corruption Commission (MACC) has confirmed late last night (June 3) of having seized assets worth RM143 mil from a 'Tan Sri highway concessionaire in the Klang Valley' linked to the misuse of sukuk funds during an operation conducted last week. The seizures include 14 individual accounts totalling RM4.5 mil, eight company accounts totalling RM33 mil, luxury condominium and land worth RM24.5 mil, nine cars worth RM7.65 mil and 13 cars that have yet to be handed over to the investigation team, according to the graft buster's chief commissioner Tan Sri Azam Baki. Other items seized include luxury watches worth RM25 mil, handbags (RM3 mil), jewellery and diamonds (RM6 million), four horses (RM400,000), alcoholic beverages (RM3 mil), foreign assets worth more than RM15 million and around RM20 mil in gambling activities. 'Preliminary investigations detected misconduct between 2016 and 2020 involving approved sukuk funds of about RM1.35 bil with false claims of about RM360 mil and RM416 mil as well as RM50 mil in other bank facility loans,' he revealed in a statement. 'The RM1.67 bil highway project also failed to be completed according to schedule and investigations are focused on bribes worth RM12 mil paid to certain parties as inducement in facilitating the cash flow out and back to the suspect. 'Proceeds of the embezzled funds were believed to be used in money laundering activities.' Tan Sri suspect currently hospitalised Azam further stated that the parties involved were believed to have used professionals such as auditors, financial experts, engineers and shell companies as recipients of the money in a layered manner to embezzle the funds. 'Until now, the MACC has yet to take the Tan Sri's statement as he is still warded in a private hospital whereby the investigating officer will seek confirmation today (June 3) from the doctor on the Tan Sri's health status before recording his statement,' he revealed. 'Meanwhile, the number of witness statements stands at 45 whereby those whose statements had been previously recorded have been called back to provide further evidence.' Meanwhile, Azam also explained that the investigation team is also tracking down luxury vehicles and properties belonging to the Tan Sri, both domestically and abroad, including in London and Switzerland. Additionally, he said current investigation is also focused on the true value of luxury alcoholic beverages in the Tan Sri's possession with the possibility that the money has been transferred to other accounts. At the same time, a property declaration notice has also been served on the Tan Sri and other related parties. – June 4, 2025 Images: Malaysian Anti-Corruption Commission (MACC)
