THE Malaysian Anti-corruption Commission (MACC) has opened an investigation paper against a corporate figure with the title “Tan Sri” for suspected involvement in money laundering practices involving the ownership of Sapura Energy Bhd shares worth more than RM500 million.
A source close to MACC told The Malaysian Reserve (TMR) that the investigation focuses on elements of corruption involving several investments after the merger of Sapura Kencana Petroleum Bhd (SKPB) and Sapuracrest Petroleum Bhd, which was later known as Sapura Energy.
“The focus of the investigation is on offences under section 23 of the MACC Act 2009, namely the offence of abuse of power in the issue of remuneration (salary, bonus and shares), branding fees and private placement from 2012 to 2021,” said the source.
“The source also revealed that the “Tan Sri” was summoned to the MACC headquarters on May 5 and 6 to provide a statement, though no arrests have been made to date.
“A total of 83 bank accounts belonging to five individuals and 15 companies involving a value of approximately RM158.26 million have been frozen following this investigation,” added the source.
Sapura Energy courted controversy in 2018 when Permodalan Nasional Bhd (PNB), Malaysia’s biggest unit trust fund, subscribed to its RM3 billion ordinary share issuance and RM1 billion Islamic redeemable convertible preference shares, becoming its single largest shareholder.
In March this year, the government injected RM1.1 billion into Sapura Energy, specifically announced as a funding to settle outstanding debts to over 2,200 local vendors. — TMR
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