Malaysia's anti-corruption agency stated on Wednesday that it is investigating a transaction worth 1.1 billion ringgit (approximately $279 million) between the Malaysian government and UK chip company ARM Holdings, which is suspected of corruption and fraud.
Anti-Corruption Commission Chief Azam Baki announced at a press conference that authorities are also investigating a proposed acquisition of IJM Group by local conglomerate Sunway.
Azam revealed that, so far, 12 individuals have been summoned to provide testimony regarding the ARM Holdings deal, including a former minister, as well as officials from the Ministry of Economy and the Malaysian Investment Development Authority.
He stated that the anti-corruption body 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 will be called to assist with the investigation.
According to an agreement announced in March 2025, the Malaysian government agreed to pay ARM Holdings $250 million over 10 years to access the company's chip design solutions for use by local manufacturers.
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