Rene Haas, CEO of chip tech provider Arm Holdings, holds a replica of a chip with his company's logo on it, during an event in which Malaysia's Prime Minister Anwar Ibrahim officially announces a $250 million deal with the company, in Kuala Lumpur, Malaysia March 5, 2025. Photo: Reuters
Authorities were also looking into a proposed takeover of IJM Corp by local conglomerate Sunway, Malaysian Anti-Corruption Commission chief Azam Baki said at a press conference.
Twelve people so far have been summoned to give statements on the Arm Holdings deal, including a former minister as well as officials from the economy ministry and Malaysia's investment agency, Azam said.
He said anti-graft authorities are looking into issues concerning abuse of power, fraud and governance in relation to the Arm deal.
"We will investigate this matter in a fair and professional manner," Azam said, adding that more witnesses will be summoned to assist in the probe.
Malaysia's government agreed to pay Arm $250 million over 10 years to acquire the firm's chip design plans for local manufacturers in a deal announced in March 2025.
($1 = 3.9470 ringgit)
