The Anti-Corruption Agency (ACA) has not completed its investigation into the national steel company Perwaja Steel scandal, allegedly having incurred some RM10 billion in losses and liabilities.

ACA deputy general Zawawi Noordin said today that investigations regarding allegations of mismanagement and irregularities of Perwaja are still going on, especially into an alleged Swiss Bank account which was reported to hold RM76.4 million paid by the ailing state-owned steel company to three foreigners.

ACA had earlier revealed that the money was paid to three foreign parties before being banked into accounts in Switzerland by telegraphic transfer. It said it was waiting for clearance from the Swiss authorites to examine the accounts.

Meanwhile, Zawawi said business organisations such as the Malaysian Investors' Association (MIA) can help in its investigation of corruption by providing information.

He said this while representing his chief Ahmad Zaki Husin at the Official Ceremony of the Computer and Economy Crime Prevention National Workshop organised by MIA in Kuala Lumpur.

Memorandum of understanding

The function also witnessed the signing of a memorandum of understanding (MOU) between MIA, which was represented by its president PHS Lim, and ACA.

"Although ACA had the right to investigate, it could be more effective with the assistance of the public and private sectors," he said, citing Section 8 of the ACA Act that provides for public assistance during investigations.

"We have to be ready to deal with economic crimes which happen due to lack of integrity of the individual," he said, adding that ACA is organising various seminars to educate people about the importance of being transparent, especially company directors.

This MOU is the first of its kind by which ACA will collaborate with the private sector to combat corruption, mismanagement of funds and abuse of power.

"Apart from punitive measures, it has always been foremost to this agency to enhance cooperation with all sectors of society," he said, adding that the corporate sector should not shy away from ACA. `