Does IJM Corporation deny money laundering allegations related to UK investments?

Question

Accepted Answer

IJM Corporation Denies Allegations of Money Laundering Linked to UK Investments

IJM Corporation Berhad has issued a statement to categorically deny any allegations of money laundering connected to its investments in the United Kingdom. The company clarified that these UK investments, which commenced in 2012, have been financed predominantly through facilities secured from Malaysian financial institutions. Furthermore, IJM stated that its chairman, Tan Sri Krishnan Tan, is cooperating fully with the Malaysian Anti-Corruption Commission (MACC) following a meeting with its officers.
Clarification on UK Serious Fraud Office Investigation

IJM Corporation explicitly stated that neither the company nor its United Kingdom associates are aware of any investigation being conducted by the UK's Serious Fraud Office (SFO). Reports suggesting such an inquiry have been described by the company as inaccurate, and IJM has confirmed it has not been approached by the SFO.
Funding of UK Investments

The conglomerate detailed that since 2012, its investments in the UK have been primarily funded through credit facilities obtained from Malaysian financial institutions. These funds were subsequently transferred to the relevant special-purpose vehicles established for projects in the UK.
Corporate Governance and Due Diligence

IJM affirmed that all its UK investments have adhered to its established business evaluation and internal governance protocols. The company reiterated its commitment to maintaining high standards of corporate governance, transparency, and integrity across its operations. Business activities are reportedly continuing as normal, with any significant developments to be announced via Bursa Malaysia in compliance with disclosure obligations.

Reading history

Hide →

This history is cleared when the page is closed.

Does IJM Corporation deny money laundering allegations related to UK investments?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends