Malaysia anti-graft agency probing government deal with chip firm Arm Holdings

KUALA LUMPUR, March 4 (Reuters) - Malaysia's anti-graft agency said on Wednesday that it is investigating corruption and fraud allegations involving a 1.1 billion ringgit ($279 million) deal between the Malaysian government and British chip firm Arm Holdings O9Ty.F.

Authorities were also looking into a proposed takeover of IJM Corp IJMS.KL by local conglomerate Sunway SWAY.KL, 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)