MACC Expected to Wrap Up Probe Into Iris Corp Execs

By | January 24, 2017

PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) is expect­­ed to wrap up investigations into two corporate figures at a government-linked company because their remand expires tomorrow.

Iris Corp Bhd deputy managing director and acting chief executive officer Datuk Hamdan Mohd Hassan (pic), 58, and an international sales manager, 36, have been remanded since Friday.

They are being probed for suspected corruption, abuse of power and money laundering.

Iris Corp has since suspended Hassan’s executive powers pending the end of the investigation.

 

In a filing with Bursa Malaysia on Jan 20, Iris Corp said Hamdan was alleged to have abused his power and to have been involved in corrupt practices involving the e-passport project for the Republic of Guinea government.

The company confirmed that it had signed a 15-year contract with the Republic of Guinea to implement the e-passport facility there.

The firm’s website showed that the contract, worth RM793.21mil, was inked in February 2014.

Iris Corp added that Hamdan’s remand would not have any effect on the earnings and net assets of the company for the financial years ending March 31, 2017 and 2018.

Hamdan’s responsibilities as acting CEO will be taken over by the newly-minted chief operating officer Choong Choo Hock.

He was appointed to the position on Jan 12.

Hamdan was nabbed at his home in Tropicana Indah on Jan 19 and several bank accounts amounting to some RM1mil have been frozen.

The accounts were in the names of Hamdan, his wife and child­ren.

The international sales manager was picked up at his residence in Taman Desa, Jalan Klang Lama, in a MACC operation codenamed Ops Guinea.

Sources said the two men were believed to have received bribes between 2013 and 2015 from the owner of a private overseas-based firm and allegedly pocketed RM500,000, mostly in US dollars and euros.

Source: The Star

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