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MISC confirms anti-corruption investigations

07 Mar 2018

The Malaysia International Shipping Corporation (MISC) has confirmed participation in an investigation by the Malaysian Anti-Corruption Commission (MACC) for alleged bribery amounting to $27.8 million.

“MISC wishes to confirm that the company has been giving its fullest support and cooperation to MACC,” it said on Monday.

“The group has a zero tolerance policy against any form of bribery or corruption by our employees, subsidiaries or any persons or companies acting for MISC or on its behalf.”

According to MACC, the investigations include alleged bribes arranged between MISC employees and contractors from the shipping industry.

“The officers had supposedly filed claims to receive payments for ship maintenance services, but there was no upkeep being done from 2010 to 2013,” said a MACC statement, as quoted by the Malay Mail.

Allegations include maintenance work on a MISC vessel during 2012, where $15.8 million was paid to a vendor for repair work on a vessel’s bunker fuel tank when estimates valued the cost to be $7.9 million.

An additional $12 million is unaccounted over other ship maintenance contracts.

Several documents were seized during a 28 February raid on MISC’s offices in Kuala Lumpur and Johor; investigations continue.

Published: 7 March, 2018

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