KUALA LUMPUR (May 8): A prominent corporate figure with the title “Tan Sri” is under investigation by the Malaysian Anti-Corruption Commission (MACC) concerning alleged money-laundering activities involving shares of Sapura Energy Bhd (KL:SAPNRG), valued at over RM500 million.
The investigation centres on corruption linked to several investments made after the merger of Kencana Petroleum Bhd and SapuraCrest Petroleum Bhd, which later became Sapura Energy, according to a source close to the matter.
The source also disclosed that raids were conducted at several key locations, including the Sapura@Mines facility, the corporate headquarters of Sapura Holdings Sdn Bhd at Menara Permata Sapura, and the “Tan Sri’s” private residences across Selangor and Kuala Lumpur.
The investigation is being conducted under Section 23 of the MACC Act 2009, which pertains to abuse of power regarding remuneration packages — salaries, bonuses, and share allocations — as well as branding fees and private placement transactions from 2012 to 2021.
It was previously reported that the MACC had, on March 14, initiated two investigation papers following reports of alleged money laundering and misappropriation connected to Sapura Energy when the company was known as SapuraKencana Petroleum Bhd.
Subsequently, on March 20, anti-graft officers visited Sapura Energy's office at Menara PNB in relation to these two investigations.
Investigators are also examining potential criminal breach of trust, misappropriation of funds, and document forgery under the Penal Code.
As part of the operation, authorities have frozen 83 bank accounts linked to five individuals and 15 companies, involving funds totalling approximately RM158.26 million believed to be connected to the case.
The "Tan Sri" was summoned to the MACC headquarters for questioning on Monday and Tuesday. As of Thursday, no arrests have been made.