KUALA LUMPUR, March 4 (Reuters) – Malaysia’s anti-graft agency said on Wednesday that it is investigating corruption and fraud allegations involving a 1.1 billion ringgit ($279 million) deal between the Malaysian government and British chip firm Arm Holdings. Authorities were also looking into a proposed takeover of IJM Corp by local conglomerate Sunway, Malaysian Anti-Corruption Commission […]
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Malaysia anti-graft agency probing government deal with chip firm Arm Holdings
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KUALA LUMPUR, March 4 (Reuters) – Malaysia’s anti-graft agency said on Wednesday that it is investigating corruption and fraud allegations involving a 1.1 billion ringgit ($279 million) deal between the Malaysian government and British chip firm Arm Holdings.
Authorities were also looking into a proposed takeover of IJM Corp by local conglomerate Sunway, Malaysian Anti-Corruption Commission chief Azam Baki said at a press conference.
* Twelve people so far have been summoned to give statementson the Arm Holdings deal, including a former minister as well asofficials from the economy ministry and Malaysia’s investmentagency, Azam said. * He said anti-graft authorities are looking into issuesconcerning abuse of power, fraud and governance in relation tothe Arm deal. * “We will investigate this matter in a fair andprofessional manner,” Azam said, adding that more witnesses willbe summoned to assist in the probe. * Malaysia’s government agreed to pay Arm $250 million over10 years to acquire the firm’s chip design plans for localmanufacturers in a deal announced in March 2025.
($1 = 3.9470 ringgit)
(Reporting by Danial Azhar and Rozanna Latiff; Editing by David Stanway)