SilTerra Malaysia managers arrested in anti-corruption probe -DNeX

  • 9/9/2021
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KUALA LUMPUR, Sept 9 (Reuters) - Several managers at semiconductor firm SilTerra Malaysia have been arrested by the country’s anti-corruption agency, parent company Dagang NeXchange Bhd (DNeX) said in a stock exchange filing on Thursday. 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 Malaysian Anti-Corruption Commission (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 here 273 million ringgit ($65.98 million) to buy SilTerra from sovereign wealth fund Khazanah Nasional. DNeX owns 60% of SilTerra while its Chinese partner holds the remainder. In June, Hon Hai Precision Industry Co Ltd, as Foxconn is formally known, bought a 5% equity interest in DNeX via its Singapore unit. The stake has shrunk to 3.88% following an additional listing of shares, Refinitiv data showed. (Reporting by Liz Lee, additional reporting by Rozanna Latiff; editing by Jason Neely)

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