Malaysian Anti-Corruption Agency Probes $280 Million Government Deal with Arm Holdings

Stock News03-04

Malaysia's Anti-Corruption Commission stated on Wednesday that it is investigating allegations of corruption and fraud in a transaction valued at 1.1 billion ringgit (approximately $279 million) between the Malaysian government and British chip company Arm Holdings. The commission's chief, Azam Baki, announced at a press conference that authorities are also examining a proposed plan by local conglomerate Sunway to acquire IJM Corp. Azam revealed that 12 individuals have already been summoned to testify regarding the Arm Holdings deal, including a former minister and officials from the Ministry of Economy and the Malaysian Investment Authority. He stated that the anti-graft agency is investigating issues related to abuse of power, fraud, and governance concerning the Arm transaction. "We will investigate this matter fairly and professionally," Azam said, adding that more witnesses would be called to assist the investigation. The Malaysian government had previously agreed to pay Arm $250 million over ten years to acquire the company's chip design solutions for local manufacturers. The deal was announced in March 2025.

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