KUALA LUMPUR (March 14): The Malaysian Anti-Corruption Commission (MACC) confirmed that a prominent Singaporean businessman and property developer has been summoned to assist in an "ongoing investigation of a high profile individual in Malaysia".
"The businessman has also been ordered to declare his assets and the financial holdings of his family. I can confirm that more people are expected to be called for questioning in the near future in relation to this investigation," its Anti-Money Laundering (AML) Division director Datuk Mohamad Zamri Zainul Abidin told The Edge.
The MACC did not name the businessman, but Channel News Asia (CNA), quoting sources, reported earlier on Thursday that 83-year-old tycoon Akbar Khan had been temporarily detained by the MACC for questioning last week, after raiding his home and business premises in Kuala Lumpur.
It also reported that Akbar, who is the main shareholder of BRDB Developments Sdn Bhd, had had his personal and business accounts frozen, and that the MACC had ordered him to declare his assets and his family's financial holdings. Akbar is expected to be summoned for further questioning in the coming days, along with other former close associates, it added.
The latest development came after former finance minister Tun Daim Zainuddin was charged in late January for failing to declare ownership of certain assets, including companies and properties, to the MACC. His wife Toh Puan Na'imah Khalid was also charged with failing to comply with an MACC notice to declare her assets.
Akbar is known to be a close associate of Daim, who is still being investigated by the MACC for allegedly using his position for corrupt practices and money laundering.
According to CNA, the MACC is scrutinising Akbar’s acquisition of Multi-Purpose Holdings Bhd in 1999 and the complex structure of the deal.
Akbar is also, together with some associates, known to have played a crucial role in the repatriation of frozen shares valued at US$4 billion that were previously listed in the Central Limit Order Book (CLOB), Singapore’s now-defunct over-the-counter market that traded mostly in Malaysian shares.
Akbar's office reportedly declined to comment on the investigation when contacted by CNA, saying their "primary focus is on ensuring a fair investigation".