Explainer: Why the MACC probe into Sunway-IJM takeover bid remains active

Added: 2026-05-28

[00:00:01]The Malaysian Anti-Corruption MACC has said investigations linked to Sunway Berhad's failed takeover of IJM Corp Berhad are still ongoing despite [music] Sunway previously saying the company had been cleared of wrongdoing.

[00:00:15]>> [music] >> The case first gained attention earlier this year after Sunway proposed to acquire IJM in a deal worth around 11 billion ringgit. As both company have government-linked shareholders, MACC began examining whether elements of corruption, abuse of power, or governance concerns were present. Under the takeover plan, Sunway offered 3 ringgit 15 cent per IJM share through a combination of 10% cash and 90% new Sunway shares. However, the proposal eventually lapsed after it failed to receive enough shareholder support.

[00:00:49]Now, the newly minted MACC Chief Commissioner, Abdul Halim Aman, said investigations are still ongoing because the commission found elements that may warrant further probe under anti-corruption and anti-money laundering laws. MACC said statements have been recorded from 13 individuals to assist investigations involving two persons. At the same time, the commission also stressed that Sunway's takeover proposal itself was carried out within the legal and regulatory framework set by the Securities Commission. As of now, neither Sunway or IJM has been identified as the direct subject of criminal proceedings.