MISC confirms cooperation with Malaysian anti-graft body on alleged bribery

Malaysian LNG shipper MISC, a unit of energy giant Petronas, said Tuesday it had been giving full support and cooperation to Malaysian Anti-Corruption Commission (MACC) on the investigation related to company’s alleged bribery.

“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,” MISC said in a statement.

MISC’s response follows local media reports which claim officials of MISC were under MACC probe over allegations of power abuse and corruption involving about 109 million ringgit ($27.9 million).

According to a report by The Sun newspaper, MACC investigators received a tip-off that alleged MISC officers were in cahoots with third-party contractors in making false payment claims at jacked up fees and non-existent work contracts involving the maintenance of ships owned by the company.

The report says that the false payments were made between 2010 and 2013.

LNG World News Staff