BUSINESSMAN Halim Saad has denied being investigated by the Malaysian Anti-Corruption Commission (MACC) for allegedly embezzling RM2.3 billion on the purchase of a listed company’s shares by a Malaysian conglomerate 26 years ago.

Halim, a former Renong executive chairman, said reports about him being investigated were untrue and he was not called by the anti-graft body.

“MACC did not call me in for questioning on the issue as speculated in the media,” Halim said in an exclusive interview with FMT Business.

It was reported last week that MACC was investigating a former senior minister and a “Tan Sri” over the alleged embezzlement of state funds.

The probe relates to documents revealed by the International Consortium of Investigative Journalists over transactions carried out at offshore financial centres. 

Anti-graft officials said the probe focuses on the purchase and ownership of shares of a listed company by a giant corporation. 

MACC insiders said the move was masterminded by the said former senior minister. 

Halim was not named by MACC as being under investigation.

In the interview with the news portal, Halim lambasted business weekly The Edge for linking him to the RM2.3 billion acquisition of shares.

The Edge in its latest report claimed that a MACC source had confirmed that the transaction involved the purchase of a 32.6% stake or 722.9 million shares in Renong Bhd by United Engineers (M) Bhd (UEM) for RM2.3 billion in November 1997, in the midst of the Asian financial crisis.

Halim said the articles have fuelled unfounded speculation about him and cast aspersions over his role in UEM’s purchase of the Renong shares.

MACC chief commissioner Azam Baki confirmed investigations under the MACC Act 2009 and money-laundering laws are ongoing. 

The source also said MACC had recorded statements from 14 witnesses over the past few weeks in relation to documents in the Pandora Papers leak. – May 25, 2023.