Talam under MACC probe

(Bernama) – The Malaysian Anti-Corruption Commission (MACC) has conducted preliminary investigations into allegations of questionable deals worth over RM1 billion between the Selangor government and Talam Corp, MACC deputy chief commissioner (operation) Mohd Shukri Abdull said today.

“We investigate without fear or favour all information that we receive. If there is a sufficient basis that offences have been committed under the MACC Act, we will proceed with further investigations,” he told Bernama here today.

Shukri, however, refused to eloborate.

He was commenting on a statement by MCA Young Professionals Bureau chief Chua Tee Yong that the Selangor government had bailed out financially distressed Talam and had acquired the company’s assets in a debt restructuring exercise at a much higher price than officially valued.

Chua had challenged the state government to explain how its exercise to recover a RM382 million debt from Talam ended in questionsble deals worth over RM1 billion.