KUALA LUMPUR (May 9): Malaysia’s anti-graft authority may summon more people to assist in its investigation into alleged money-laundering activities involving Sapura Energy Bhd (KL:SAPNRG).
The Malaysian Anti-Corruption Commission (MACC) may recall the prominent corporate figure bearing the title of Tan Sri, as well as call for his family members and former board members of Sapura Energy for further statements.
However, no arrests have been made to date, according to the agency's strategic communications division. The MACC also stressed that the investigation remains active.
"This case is seen as a test of corporate governance integrity and transparency in the management of public funds by listed companies in Malaysia," the agency noted.
On its part, Sapura Energy said its operations and financial activities — including access to bank accounts — remain unaffected and continue as usual amid the MACC probe.
The company is cooperating fully with the authorities and remains committed to providing any further assistance required, Sapura Energy said in an exchange filing.
At the heart of the investigation is alleged money laundering involving Sapura Energy shares valued at over RM500 million. The focus is on suspected corruption related to several investments made after the merger of Kencana Petroleum Bhd and SapuraCrest Petroleum Bhd into what is known as Sapura Energy today.
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 private residences of the Tan Sri 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.
Shares of Sapura Energy ended unchanged at 4.5 sen on Friday, ahead of the statements. At the last price, the oil and gas services firm is valued at RM826.9 million.