Malaysia | Anti-Corruption Agency Investigates RM42 Million Payment Linked to Solar Project | CUAC

Civil Union – Follow-up The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into several issues related to losses incurred by UiTM Holdings, including a payment of approximately RM42 million linked to a 50-megawatt solar power project in Gambang, Pahang. The commission said the investigation is examining the circumstances surrounding the disbursement of the funds for purposes unrelated to the project and without obtaining approval from the company’s board of directors. The probe also covers other aspects related to the project and corporate governance within the company. The MACC confirmed that the investigation is still ongoing due to the complexity of the case and its technical aspects. Investigators are working to complete the investigation file pending further directions from the Attorney General’s Chambers. The investigation follows official calls for a review of the management and governance of UiTM Holdings amid financial losses incurred by the company. Source: Yahoo News Malaysia