Kuala lumpur: The Malaysian Anti-Corruption Commission (MACC) is collaborating with the United Kingdom's Serious Fraud Office (SFO) in an ongoing investigation involving IJM Corporation Bhd over financial transactions and overseas investments amounting to approximately RM2.5 billion.

According to BERNAMA News Agency, MACC Chief Commissioner Tan Sri Azam Baki stated that both agencies are working closely together and are required to follow specific procedures in the process of gathering information and evidence. "I don't think it should be a problem because both agencies have their own mandates in investigating the case. So we need to ensure that the cooperation benefits both sides," Azam said during a special interview with several media organisations.

Azam explained that the investigations might take some time as MACC is also awaiting the outcome of the probe being conducted by the UK authorities. "Because the money invested, about RM2.5 billion in the UK, could involve issues in that country, possibly in violation of their anti-money laundering laws.. I don't know. So (over) here, we are not only investigating, but we are also facilitating the UK authorities. So it will take some time," he remarked.

When queried about the role of IJM non-executive chairman Tan Sri Krishnan Tan, Azam mentioned that the commission would determine whether any offences had been committed. "We will investigate whether there was any wrongdoing, including the possible abuse of company funds," he added.

The media reported that Tan had been detained last Thursday to assist in MACC investigations into corporate governance issues, procurement processes, financial transactions, and the ownership of overseas assets estimated to be worth about RM2.5 billion. He was released later that same day.