Malaysia's anti-corruption agency probes Talam deals
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has conducted preliminary probe into allegations of questionable deals worth over RM1 billion (S$402,636) between the Selangor Government and Talam Corp, said MACC deputy chief commissioner (operations) Datuk Mohd Shukri Abdul.
"If there is a sufficient basis that offences have been committed under the MACC Act, we will proceed with further investigations," he said on Saturday, but refused to elaborate.
He was commenting on a statement by Malaysian Chinese Association (MCA) MP Chua Tee Yong that the Selangor Government had bailed out troubled firm Talam and had acquired the company's assets in a debt restructuring exercise at a much higher price than officially valued, the Star newspaper said on Sunday, citing a report by Bernama news agency.
On July 3, Mr Chua, whose father is the MCA president, Dr Chua Soi Lek, challenged the Selangor Government to explain how its exercise to recover a RM392 million debt from Talam ended in questionable deals worth over RM1 billion.