}

21 April 2021

On 17 March 2021, the Malaysian Anti-Corruption Commission (“MACC”) announced the pressing of charges against a company providing ship rental services (“Company”) and its former director under sections 17A and 16(b)(a) of the Malaysian Anti-Corruption Commission Act 2009 (“MACC Act”) respectively, for allegedly giving bribes to obtain ship rental contracts.

The Company is the first commercial organisation to be charged for corporate liability under section 17A of the MACC Act 2009 which came into effect on 1 June 2020. The penalty under section 17A is a fine of not less than 10 times the sum or value of the gratification or RM1 million, whichever is higher and/or imprisonment for a term not exceeding 20 years.