Malaysian construction giant IJM under probe over alleged US$617m money laundering; share prices slide
SRI
The investigation comes just days after IJM emerged as a takeover target for conglomerate Sunway Bhd in a deal valued at about RM11 billion. KUALA LUMPUR: Malaysia’s anti-graft agency has launched an alleged RM2.5 billion (US$617 million) money laundering probe into IJM Corporation Bhd, sending the construction giant’s shares sliding. Local media reported that a member of IJM’s top management who holds a Tan Sri title - one of the most prestigious federal honours - as well as a company
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