Malaysia: Malaysia’s anti-graft agency probes AirAsia’s RM300 million bank loan

THE Malaysian Anti-Corruption Commission (MACC) has begun an investigation into a RM300 million (S$98.5 million) loan from Sabah Development Bank Bhd (SDB) to budget airline AirAsia Group Bhd, an officer of the agency said on Wednesday.

MACC director for Sabah state, S Karunanithy, confirmed that the agency was investigating the loan approved by the Sabah state-owned bank but declined to elaborate.

“We have started our investigation to look into whether there had been any violation,” he told Reuters in a text message.

Sabah-based newspaper Daily Express reported earlier on Wednesday that the state’s recently installed Chief Minister Hajiji Noor had ordered a forensic investigation by an independent audit firm into the bank’s decision, and called in the MACC.

The original full article can be found at businesstimes.com.sg

(Photo: Yumi Kotani)

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