Home Minister states that the investigation into the ‘corporate mafia’ is ongoing and progressing gradually, step by step.

KUALA LUMPUR, March 25 — Investigations into claims of a “corporate mafia” are being carried out methodically, step by step, Home Minister Datuk Seri Saifuddin Nasution Ismail said today.

Speaking at a press conference after the 219th Police Day celebrations at the Police Training Centre (Pulapol) here, Saifuddin said an investigation paper has been opened. Authorities are first focusing on determining the direction of the probe before identifying the methods used and the individuals involved.

“The police are investigating under the Anti-Money Laundering Act (AMLA), while the Securities Commission (SC) is also involved and may apply its own legislation. The inquiry will therefore include investigations under both the SC’s regulatory framework and AMLA,” he said.

“Initially, the AMLA team within the police will set the direction of the investigation. The next step is to identify the modus operandi, after which authorities will reach out to those involved,” he added.

Saifuddin noted that any decision to restrict the travel documents of those involved, whether immediately or later, will depend on the findings of the investigation.

“I have been briefed by the Inspector-General of Police (IGP) and the team, and I am confident in their ability to conduct the probe,” he said.

Inspector-General of Police Tan Sri Mohd Khalid Ismail had previously confirmed that businessman Victor Chin is linked to matters under AMLA investigation. Chin is believed to be abroad while authorities seek international cooperation to advance the probe.

The allegations concerning the so-called “corporate mafia” have drawn significant public attention, particularly claims of forced takeovers of public-listed companies and potential links to enforcement agencies. Chin has denied the allegations and stated that a “Mr R” is involved in the process.