Kuala Lumpur, 6 February 2026 – The chairman of IJM Corporation Berhad has been released by the Malaysian Anti-Corruption Commission (MACC) after being detained overnight to assist in an ongoing investigation linked to alleged money laundering activities.
MACC Chief Commissioner Tan Sri Azam Baki confirmed that the chairman was released within 24 hours due to health considerations, noting that investigations remain active and no decision has yet been made regarding potential charges.
“The investigation is still ongoing, and I am unable to comment on whether he will be charged at this stage,” Azam said.
Investigation Focuses on Allegations of Money Laundering
The anti-graft agency previously disclosed that it is probing allegations related to money laundering involving IJM Corporation. However, the company has strongly denied the accusations, describing them as unfounded.
Earlier in January, MACC investigators, accompanied by officers from the Inland Revenue Board (IRB), conducted visits to IJM’s corporate offices to obtain documents and gather relevant information as part of the probe.
IJM confirmed that its chairman, Tan Sri Krishnan Tan, has cooperated fully with authorities, along with other personnel requested to assist in the investigation.
Corporate Governance and Market Implications
The investigation involving IJM, a major Bursa Malaysia-listed conglomerate with significant operations in construction, infrastructure and property development, has drawn attention from investors and market participants monitoring corporate governance developments.
While no formal charges have been announced, the outcome of the probe could influence investor sentiment toward the company and broader perceptions of corporate governance standards within Malaysia’s listed corporate sector.
Authorities have reiterated that investigations remain ongoing, with further developments dependent on the outcome of regulatory review and enforcement processes.
