THE Malaysian Anti-Corruption Commission (MACC) has seized RM141 million worth of domestic assets and identified a further RM15 million in overseas assets in connection with the misappropriation of sukuk funds allocated for a Klang Valley highway construction project.
The suspect at the centre of the investigation is a highway concessionaire bearing the honorific title "Tan Sri", MACC Chief Commissioner Tan Sri Azam Baki confirmed.
"The breakdown of the seized assets includes RM4.5 million in individual accounts, RM33 million in company accounts, RM24.5 million in high-end condominiums and land, RM26 million in luxury watches, and RM7.65 million in nine luxury vehicles," Azam said, as reported by Harian Metro today.
Further items seized include RM10 million worth of jewellery and diamonds, RM6 million in designer handbags, as well as RM3 million in gold bars, gold figurines, and gold coins. Authorities also confiscated four horses valued at RM400,000.
The RM15 million in assets located abroad are currently being traced by the MACC, Azam added.
He also disclosed that RM25 million in proceeds from the alleged misappropriation had been spent on “alcohol and gambling activities”.
“The total value of assets and transactions identified so far in this misuse of sukuk funds stands at RM156 million,” said Azam.
He noted that the MACC is working in cooperation with several agencies including Bank Negara Malaysia and the Attorney General’s Chambers to obtain further details on the foreign properties and financial holdings.
To date, 54 individuals have had their statements recorded as part of the ongoing investigation.
“The statement recording process for the Tan Sri involved is still incomplete and will resume on 19 June,” Azam added. - June 14, 2025
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