The 48-year-old suspect will be remanded until Aug 8 after Magistrate Shah Wira Abdul Halim allowed an application by the Malaysian Anti-Corruption Commission to remand the man.
The suspect, who was summoned to the MACC headquarters to make his statement on Aug 5, was arrested on the same day.
According to sources, the suspect received kickbacks after his company purchased 10,000 units of tablet computers.
The kickbacks were from a foreign company which sold the tablets to the suspect's company for US$5.8mil (RM24.2mil) between 2014 and 2018.
"The purchases were made without the approval of the company's board of directors and resulted in huge losses suffered by the company.
"It is also believed that the suspect hid the money he received overseas including in Hong Kong and Singapore," said a source.
MACC deputy chief commissioner (operations) Datuk Seri Ahmad Khusairi Yahaya confirmed the arrest.
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