KUALA LUMPUR, Feb. 16 -- Datuk Seri Rafizi Ramli yesterday rejected claims that the RM1.1 billion microchip deal he oversaw as then minister of economy was rushed and hastily signed, a point now under investigation by the Malaysian Anti-Corruption Commission (MACC).

In an exclusive statement to The Edge, the Pandan MP said the proposed deal with ARM Holdings was presented to the Cabinet three times, involving a committee of officials from the Ministry of Economy, Ministry of Investment, Trade and Industry (Miti), and Ministry of Finance (MOF).

"To say it was rushed is to accuse the Prime Minister, MOF II and Miti ministers as well, because they were all part of the process," Rafizi said, adding that the ministries had negotiated directl...