KUALA LUMPUR — Tan Sri Halim Saad has said he is not under investigation by the Malaysian Anti-Corruption Commission (MACC) which cleared him in relation to an alleged RM2.3 billion embezzlement case from the late 1990s,
“I am addressing the recent inquiries regarding the investigation launched by the Malaysian Anti-Corruption Commission (MACC) in May 2023, which involves political figures from the 1990s.
“As of December 4, 2023, I have received an official clearance letter from MACC,” the tycoon said in a statement today.
“This letter confirms that no evidence has been found linking me to any wrongdoing in relation to the investigation.”
Halim also reiterated his commitment to fully cooperate with the authorities as they continue their probe, the statement concluded.
The tycoon, who is now involved in the oil and gas field overseas, previously denied any involvement in the alleged embezzlement and criticised local business media outlet The Edge for spreading “baseless speculations” and casting doubt on his role in the United Engineers Malaysia’s (UEM) Bhd and Renong deal.
Halim in the 1997 during the Asian Financial Crisis used cash-rich UEM, a Renong subsidiary, to take over shares in the debt-ridden parent company which had developed several strategic infrastructure projects for the government, including highways.
Because of Renong’s importance to the government, the deal was labelled by as government “bailout”.
In May last year, various media reported that MACC had begun investigating a former senior minister and tycoon with the “Tan Sri” title over alleged embezzlement of RM2.3 billion.
After The Edge published reports that revisited the Renong and UEM deal, linking MACC’s investigation to Halim, the businessman denied that he had been questioned by MACC.
In March this year, Singapore media Channel News Asia named Halim again as the subject of an MACC probe, along with other politically-linked tycoons.
Last year, Halim also sued the government, former prime minister Tun Dr Mahathir Mohamad and former finance minister II Tan Sri Nor Mohamed Yakcop, accusing them of forcing a government takeover of Renong in 2001 through sovereign wealth fund Khazanah Nasional which bought over UEM’s shares in Renong.
Halim, who claimed compensation for the fired takeover, had his suit dismissed following appeals filed by the defendants.
Halim has appealed, and the Court of Appeal is to hear his pleadings to reinstate the suit in August next year. – December 4, 2024
