Rafizi Says MACC Probe Into Arm Holdings Deal Focuses on Procedures, Not Financial Transfers
PUTRAJAYA — Former Economy Minister Rafizi Ramli said investigations by the Malaysian Anti-Corruption Commission into the RM1.1 billion semiconductor investment linked to Arm Holdings have thus far concentrated on procedural aspects of the joint venture rather than financial transactions.
Speaking to reporters outside the MACC headquarters today, Rafizi stressed that investigators had not questioned him regarding money transfers or payment flows connected to the deal.
Focus Remains on Decision-Making Process
According to Rafizi, the line of questioning throughout the ongoing investigation has centred mainly on how decisions were made and the procedures involved in the proposed collaboration.
He said this contradicted earlier public assumptions suggesting that the probe was focused on financial irregularities or suspicious monetary movements.
“There were no questions regarding financial transactions,” he told reporters after arriving at the commission’s headquarters.
Third Day of Statement Recording
Rafizi arrived at the MACC headquarters at around 1.50pm to continue giving his statement for a third consecutive day.
The investigation relates to allegations involving abuse of power and possible misappropriation connected to the semiconductor partnership involving the Ministry of Economy and the British-based technology company.
The prolonged recording process reflects the scale and complexity of the investigation being conducted by anti-corruption authorities.
Probe Began Following NGO Complaints
The MACC launched the investigation on February 16 following complaints lodged by several non-governmental organisations.
The complaints alleged that the agreement linked to the semiconductor investment was rushed through without sufficient scrutiny and may have exposed the government to financial risks.
Authorities have since been gathering information and interviewing individuals connected to the matter.
Public Interest Surrounding Semiconductor Initiative
The investigation has attracted significant public attention due to the scale of the proposed RM1.1 billion investment and its connection to Malaysia’s ambitions in the semiconductor sector.
The collaboration involving Arm Holdings was previously seen as part of broader efforts to strengthen Malaysia’s technology and chip ecosystem.
Questions surrounding governance and procedural transparency have therefore become central to the ongoing scrutiny.
Rafizi Maintains Cooperation
Rafizi said he has continued to cooperate fully with investigators throughout the process.
He indicated that the sessions largely involved explaining procedural decisions and clarifying administrative matters related to the joint venture discussions.
The former minister also suggested that further sessions may still be required depending on the needs of investigators.
MACC Continues Gathering Evidence
The anti-corruption agency has yet to announce any formal charges in relation to the case.
Investigators are understood to be reviewing documentation, decision-making processes and official procedures connected to the investment arrangement.
The commission has also interviewed multiple individuals linked to the matter as part of its broader inquiry.
Semiconductor Sector Remains Strategic Priority
Malaysia has been intensifying efforts to position itself as a regional semiconductor and high-technology hub amid rising global demand for chips and electronic components.
As a result, investment agreements involving major international technology firms continue to attract close public and political attention.
The outcome of the investigation is expected to influence future discussions on governance standards and transparency in strategic investment projects.
-wilayah.com.my
