Anti-Graft Agency Probes Malaysia’s Deal with Softbank’s Arm, AFP Reports

Malaysia’s anti-graft agency is investigating alleged abuse of power, fraud and governance issues linked to a deal between the government and Arm Holdings Plc, AFP reported.

Malaysia inked a pact in March last year to pay the SoftBank Group Corp.-owned UK firm about $250 million over a period of ten years for a slew of semiconductor-related licenses and knowhow. The Malaysian Anti-Corruption Commission has so far summoned 12 witnesses from the economy ministry and various government agencies, including an unnamed former minister, MACC’s chief Azam Baki was cited as saying by AFP.