Arm Holdings plc (NASDAQ:ARM) is one of the Best Young Stocks To Buy and Hold For 20 Year. On March 4, Reuters reported that Malaysia’s anti-graft agency is investigating corruption and fraud allegations regarding a deal worth 1.1 billion ringgit ($279 million) between Arm Holdings plc (NASDAQ:ARM) and the Malaysian government.
The deal under investigation is worth around $250 million, which was to be paid to Arm Holdings over 10 years, in return for its chip design plans for local manufacturers. The deal came about as the Malaysian government is looking to produce its own chips amid the AI boom.
According to Reuters, twelve people have been summoned so far to give statements regarding the deal. This includes former ministers and other officials from the economic ministry of Malaysia. Malaysia’s investment agency spokesperson, Azam, said that they will be summoning more people for statements and are investigating the issue in a fair manner.
Arm Holdings (NASDAQ:ARM) architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers.
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