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Market Chatter: Malaysian Watchdog Keeps Probe Open into IJM-Sunway Deal, Clears Chairman

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The Malaysian Anti-Corruption Commission's (MACC) two investigation papers on Sunway's (KLSE:SUNWAY) proposed acquisition of IJM (KLSE:IJM) remain active, after finding possible offences under anti-corruption and anti-money laundering laws involving two individuals, The Star reported Wednesday.

The agency has taken statements from 13 people so far as part of the probe, according to the report.

Separately, MACC said its investigation into IJM's chairman Krishnan Tan has been closed with no further action, as no criminal wrongdoing or governance breaches were found. It also dismissed 2.5 billion ringgit money laundering allegations after joint checks with Bank Negara Malaysia, tax authorities and the UK Serious Fraud Office found no supporting evidence, the news outlet said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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