THE Malaysian Anti-Corruption Commission (MACC) has opened an investigation paper against a corporate figure with the “Tan Sri” title for alleged involvement in money laundering practices involving the ownership of Sapura Energy Bhd (SEB) shares worth more than RM500 mil.
The investigation also focuses on elements of corruption involving several investments after the merger of Sapura Kencana Petroleum Bhd (SKPB) and Sapuracrest Petroleum Bhd which was later known as SEB.
“The focus of the investigation is on offences under Section 23 of the MACC Act 2009, namely the offence of abuse of power in the issue of remuneration (salary, bonus and shares), branding fees and private placement from 2012 to 2021,” a source informed FocusM.
“The investigation is also identifying offences of breach of trust, abuse of funds and forgery under the Penal Code.”
According to the source, the said “Tan Sri” was summoned to the MACC headquarters in Putrajaya for a statement recording on May 5 and 6 to assist in the investigation.
“No arrests have been made to date,” divulged the source. “But a total of 83 bank accounts belonging to five individuals and 15 companies involving a value of about RM158.26 mil have been frozen following this investigation.”
While stressing that an investigation into the governance aspect of Sapura Energy which is a Main Market-listed integrated oil and gas (O&G) service outfit will also be carried out, the source further revealed that the investigation was focused on three venues, namely
- Sapura Energy’s HQ at the Mines Resort City in Seri Kembangan, Selangor;
- Menara Permata Sapura (Sapura Holdings Sdn Bhd); and
- The “Tan Sri’s” residences around Selangor and Kuala Lumpur.
At 4.16pm, Sapura Energy was unchanged at 4.5 sen with 6.88 million shares traded, thus valuing the company at RM827 mil. – May 8, 2025
