The MACC, when contacted for clarification, said the lawyer is representing the party that allegedly misused the RM12 million. It declined to name the party.
PUTRAJAYA (Sept 9): The Malaysian Anti-Corruption Commission (MACC) will forfeit RM12 million belonging to Sapura Energy Bhd, now known as Vantris Energy Bhd (KL:VANTNRG), that was allegedly misused by an undisclosed party back in 2018.
The undisclosed party will forfeit the funds following an agreement between the party's lawyer and prosecutors, MACC chief commissioner Tan Sri Azam Baki said at a press conference on Tuesday regarding the progress of several cases pursued by the regulator.
The MACC’s probe into the oil and gas services outfit concerns whether certain parties misused their position in a public body for personal gain, framed under Section 23 of the MACC Act.
“The RM12 million will be forfeited in the near future and returned to the government, and the deputy public prosecutor will consider whether or not there will be any charges against any party,” said Azam, who referred to the company with its earlier name.
The MACC, when contacted for clarification, said the lawyer is representing the party that allegedly misused the RM12 million. It declined to name the party.
WATCH: MACC to forfeit RM12m Sapura Energy funds
Under the MACC Act, any dealings involving the assets seized shall be deemed void. In short, the Act removes the owner's ability to assert any right on the assets in question.
A separate probe is also ongoing, Azam said, relating to an alleged US$3.3 million (RM14 million) bribery by a company based in Brazil to "a CEO" back in 2011, when Sapura Energy was known as SapuraCrest Petroleum Bhd.
SapuraCrest merged with Kencana Petroleum Bhd in 2012 to form SapuraKencana Petroleum Bhd, which was later renamed to Sapura Energy in 2017.
The alleged misuse and bribery probes are the MACC's two ongoing investigations into the company, Azam said.
At the time of writing on Tuesday, shares in Vantris Energy were up three sen or 5.88% at 54 sen, valuing the company at RM491.28 million.
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