The Malaysian Anti-Corruption Commission (MACC) confirmed that two investigation papers remain open regarding Sunway Berhad’s proposed voluntary acquisition of IJM Corporation due to discovered elements linked to alleged irregularities. The probe involves possible offences under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 concerning two individuals, with statements recorded from 13 people to assist the investigations [1, 2, 3, 4].

MACC chief commissioner Abd Halim Aman said, "The investigation papers for this case are still active because through investigations conducted by the MACC, we found elements that can be investigated under the relevant laws" [1]. The investigations found that the acquisition was carried out following the legal and regulatory framework set by the Securities Commission, but the proposal was later cancelled by Sunway Berhad [1, 2, 3, 4].

Allegations of RM2.5 billion in money laundering were found to be baseless after joint efforts involving MACC, Bank Negara Malaysia, the Inland Revenue Board, and the UK's Serious Fraud Office (SFO). Abd Halim Aman noted, "The UK’s Serious Fraud Office had also confirmed that it had never conducted any investigation related to the alleged flow of funds," and that the sum involved comprised minor assets in legitimate financial investments managed legally through international banking institutions [1, 2, 3, 4].

The MACC investigation into IJM Corporation chairman Tan Sri Krishnan Tan was classified as "No Further Action" after finding no elements of criminal conduct, misconduct, or breaches of corporate governance [1, 2, 3, 4].

In March 2026, MACC announced opening the investigation papers related to IJM Corporation financial transactions and overseas investments worth about RM2.5 billion [2, 3, 4]. On May 20-21, 2026, Chief Commissioner Abd Halim Aman confirmed the probes remain ongoing, with 13 individuals having given statements, and reiterated no further action would be taken against Krishnan Tan [1, 2, 3, 4].