KUALA LUMPUR (June 4): The Ministry of Investment, Trade and Industry (Miti) will conduct further investigation following a report that the US has imposed sanctions on a Malaysian company involved in semiconductors.

Finance Minister II Datuk Seri Amir Hamzah Azizan said Miti, being the coordinating agency, needs to do an in-depth study on the matter, as the company is reportedly among about 300 entities that were slapped with US sanctions.

“It is better for Miti to fathom the issue and find out if it actually happened,” he told the media here on Tuesday.

Al Jazeera reported that a Malaysia-based semiconductor maker, Jatronics Sdn Bhd, was among nearly 300 entities that Washington slapped with sanctions last month, over their alleged links to Russia’s military suppliers.

However, Amir Hamzah said he was made to understand that the Malaysian company is not a semiconductor producer, but a trading company that sells semiconductor-related hardware.

“Malaysia is an open economy. However, we want businesses to trade in the right way. So, let the investigation be conducted, and we will look at the findings. The important thing is, Malaysia will not tolerate it if something bad is going on,” he added.