IJM Corporation Bhd non-executive chairman Tan Sri Krishnan Tan says he is ready to move forward after the Malaysian Anti-Corruption Commission (MACC) cleared him of all allegations linked to the high-profile investigation involving Sunway Bhd’s failed takeover bid for IJM.
In a personal statement issued shortly after IJM’s Bursa Malaysia announcement, Tan said he had always maintained his innocence and welcomed the MACC’s decision, which classified the case as “no further action” (NFA) in a letter dated April 30, 2026.
He said the investigation and public scrutiny had caused significant reputational damage and emotional strain on his family and professional life, but expressed gratitude to those who supported him throughout the process.
The MACC probe first emerged in January 2026 during scrutiny surrounding Sunway’s proposed RM11 billion cash-and-share takeover offer for IJM. The investigation reportedly examined issues related to corporate governance and procurement practices within entities and individuals linked to the deal.
The matter escalated in March when then MACC chief commissioner Tan Sri Azam Baki confirmed that an investigation paper had been opened into the takeover proposal after receiving reports.
Subsequently, both IJM and Sunway later confirmed that they had been cleared of wrongdoing, with the probe ultimately concluded as NFA for individuals involved.
The scrutiny also extended to corporate adviser Seow Lun Hoo, who confirmed he also received an NFA letter from MACC dated May 14, 2026.
Sunway’s takeover offer, valued at approximately RM11 billion, would have created Malaysia’s largest property and construction group if successful. However, the bid ultimately failed after it did not secure sufficient shareholder acceptance.
Philippines