Malaysian Conglomerate IJM Corp Faces Corruption Investigation

Krishnan Tan, chairman of IJM Corp, states he is uninvolved in daily operations amid an anti-corruption probe into a $635 million fund scandal. The board assures stakeholders of continued business and robust governance, even as IJM is the subject of a significant takeover bid by Sunway.

Krishnan Tan, the chairman of Malaysian conglomerate IJM Corp, has clarified his lack of involvement in the company's daily management during an ongoing investigation by the anti-graft agency. The probe centers around alleged corruption involving $635 million in company funds.

Tan, who holds a non-executive role, was briefly detained but released due to health issues. Meanwhile, IJM's board emphasized its commitment to maintaining business integrity, ensuring strong governance, and supporting the investigation fully.

Despite the scrutiny, IJM's operations continue unabated. The company is also currently involved in a $2.7 billion acquisition bid by Sunway, potentially creating a powerhouse in Malaysia's construction sector.