Several managers at semiconductor firm SilTerra Malaysia have been arrested by the MACC, said parent company Dagang NeXchange Bhd (DNeX) in a stock exchange filing today.
SilTerra Malaysia was the subject of a takeover battle in February which saw DNeX and a Chinese partner outbid Taiwan's Foxconn.
SilTerra was notified that the arrests had been made on Wednesday by the MACC "to assist in their investigation of a potential offence".
"Based on the limited information available... the MACC investigation may potentially be related to a legacy issue," DNeX said.
MACC did not respond to a Reuters request for comment.
DNeX and Beijing Integrated Circuit Advanced Manufacturing and High-End Equipment Equity Investment Fund Center bid RM273 million ringgit to buy SilTerra from sovereign wealth fund Khazanah Nasional.
DNeX owns 60 percent of SilTerra while its Chinese partner holds the remainder.
In June, Hon Hai Precision Industry Co Ltd, as Foxconn is formally known, bought a five percent equity interest in DNeX via its Singapore unit.
The stake has shrunk to 3.88 percent following an additional listing of shares, Refinitiv data showed.
- Reuters
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