IJM Corporation denies scrutiny from UK fraud office

PETALING JAYA: IJM Corporation Berhad has dismissed reports suggesting it is linked to an investigation by the United Kingdom’s Serious Fraud Office (SFO), describing such claims as inaccurate.

In a statement on Tuesday (Jan 20), the company said neither IJM nor its UK associates are aware of any SFO investigation, adding that it has not been approached by the agency.

“Our chairman Tan Sri Krishnan Tan met officers from the Malaysian Anti-Corruption Commission (MACC) this afternoon and continues to cooperate fully with the authorities.

“Other IJM personnel who have been requested to provide information are also cooperating fully as part of the process,” the statement said.

IJM also refuted allegations of money laundering, stressing that since 2012, its UK investments have been funded primarily through facilities from Malaysian financial institutions and channelled to relevant project special-purpose vehicles in the UK.

The company said these investments were subject to its established business evaluation and internal governance processes.

The group further clarified that the individual described in media reports as a “company advisor” was previously engaged only on a professional basis to provide advisory services for a limited number of corporate transactions.

Reiterating its commitment to strong corporate governance, transparency and integrity, IJM said business operations continue as usual.

“Any material developments will be announced through Bursa Malaysia in accordance with disclosure requirements,” it added.