TM: KPMG probe on graft over

  • Business
  • Wednesday, 02 Mar 2011

PETALING JAYA: Telekom Malaysia Bhd (TM) says KPMG Corporate Services Sdn Bhd has concluded the internal investigation to identify TM employees who previously took bribes from Alcatel Lucent SA and submitted the report to the Malaysian Anti-Corruption Commis-sion (MACC) yesterday.

TM told Bursa Malaysia that it had “concluded the internal investigation which was performed as exhaustively possible by KPMG and TM special affairs unit of TM group internal audit division. TM will continue to cooperate with MACC in its investigations relating to this case.”

MACC began investigations into graft allegations when the US Securities and Exchange Commission (SEC) and Justice Department fined Alcatel Lucent US$137mil (RM420.6mil) for a global bribery case.

It was found that Alcatel Lucent had given bribes to government officials to win or keep multi-million dollar contracts between 2001 and 2006. The countries involved included Malaysia, Taiwan, Costa Rica and Honduras.

Documents made public by the SEC and Justice Department late last year alleged that the French equipment supplier paid bribes to TM employees in exchange for non-public information.

The information provided to Alcatel Lucent included important documents and budget information relating to ongoing bids and competitor pricing information, which it is alleged to have helped Alcatel Lucent win a US$85mil contract.

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